Terms of Use

Introduction

Effective Date: 26th October, 2024

Welcome to Cogwheel Validator! We appreciate your interest in our blockchain validator and related services. Before you dive into the exciting world of decentralized technologies through our website “https://cogwheel.zone” and other subdomains (the “Website”) as well as any other media form, media channels, blockchain services, linked, or otherwise connected there to or provided by us (collectively will be referred as the “Services”), it’s important to understand the terms and conditions that govern your use of our services. Please take the time to carefully read through this document, as it outlines the rules and guidelines that ensure a secure, fair, and enjoyable experience for all users.

1. Agreement to the terms

1.1 These Terms of Use constitute a legally binding agreement between you, whether personally or on behalf of an entity (the “Customer”, “you” or “User”) and Cogwheel Validator (“Cogwheel Validator”, “Cogwheel”, “we”, “us” or “our”). If you have any questions or concerns about these terms, please do not hesitate to contact us via e-mail: [email protected]. Your satisfaction and understanding of our terms are important to us. By accessing or using any of our services you agree to be bound by the terms and conditions set forth in this document. If you do not agree with any part of these terms, we kindly ask that you refrain from using our services. We constantly try to improve our Services so these Terms can be changed or modified. The modified Terms shall be effective as soon as it is posted and any changes will not apply retroactively unless specified differently. To make our services as transparent as possible our Terms of Use will be publicly available on the main website under link https://cogwheel.zone/terms-of-use and the link will be present under the header and footer of the main website (https://cogwheel.zone).

1.2 Our Website and Services are intended for adults who are at least 18 years old. Minors are allowed to use our services and apps under parental or guardian supervision. Any use of our services by minors is strictly prohibited. However minors are allowed to inform and educate themselves about our services and read our news and post.

1.3 The information and services provided on the Website and through our Services are not intended for distribution to or use by any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation. Users accessing the Website or Services from jurisdictions where the use of cryptocurrency is prohibited do so at their own risk and are solely responsible for compliance with local laws. We expressly disclaim any responsibility for any consequences or legal actions arising from such unauthorized access.

2. Definitions

• Blockchain – A blockchain is a decentralized and distributed ledger that records transactions across a network. Each transaction is grouped into a block, and these blocks are linked together in a chronological chain. This technology ensures transparency, security, and immutability of data.
• Cryptocurrency – is a form of digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology. Various types of cryptocurrencies exist, including Bitcoin, Atom, Ether and others, each serving different purposes within the digital economy.
• Validator – is a participant in a blockchain network responsible for validating and adding transactions to the blockchain. Validators play a crucial role in maintaining the integrity and security of the network by ensuring that transactions are legitimate.
• DPoS (Delegate Proof of Stake) – is a consensus algorithm used in blockchain networks where token holders can delegate their holdings to a chosen set of validators. These validators, in turn, are responsible for validating transactions and maintaining the network.
• Staking – or Delegating refers to process of locking a certain amount Cryptocurrency with a Validator (1 or more) for a certain amount of time. With this action the Customer is securing the Blockchain network.
• Rewards – refers to additional digital assets earned users who participate in the process of staking their cryptocurrency holdings with the validator. Rewards are paid by the Blockchain’s distribution module.
• Restaking – involves automatically reinvesting staking rewards back into the validator, thereby compounding the original staked assets.
• Unstaking – or Undelegating, is the process of releasing your Cryptocurrency from a locked state. It’s important to note that unstaking is not an immediate action and may take a certain period of time for the assets to fully unlock. The duration of this period is predefined by the blockchain network.
• Redelegate – Redelegation is the process of moving locked assets from one Validator to another within the blockchain network. Once initiated, it’s important to note that you cannot redelegate again for a certain duration, as set by the blockchain’s rules.

3. Website and services we offer

3.1 Blockchain Validation

Cogwheel Validator operates and maintains Validator Nodes to contribute to the security and integrity of selected Blockchains. Users have the option to Stake with our node on specific blockchains, becoming eligible to receive Rewards.

3.2 Staking service

You can Stake your assets through our medium of Cogwheel’s explorer and Restake. You also have an option to Stake through some third-party apps that offer similar services. When you Stake your Cryptocurrency, Rewards are distributed in accordance with each blockchain’s distribution module. The Validator may receive a percentage of these rewards through a commission structure. Please note that we reserve the right to adjust the commission at any time. While we are not obligated to provide prior notice of changes, we strive to communicate such adjustments transparently. Updates, if necessary, will be shared on our social media channels. It’s important to acknowledge that Rewards may fluctuate based on the unique design of each blockchain. We encourage users to stay informed about the specific characteristics of the blockchains they are engaged with.

3.3 Blockchain Explorer

Our blockchain explorer is a powerful tool that allows users to engage and interact with the blockchain. With our explorer, users can explore a range of functionalities such as staking, sending transactions to another users, review previous transactions and option to participate in blockchain governance proposals. Our blockchain explorer service is built upon an open-source project covered by the GNU General Public License v2.0. The original project can be found on GitHub here.

3.4 Restaking Services:

Our restaking services are designed to enhance your overall return on investment by compounding your Rewards, leading to an increased Annual Percentage Rate (APR). Here’s how it works:

• Grant through Authz Module: When you opt for restaking, you grant us permission through the Authz module. This permission allows our system to automatically cover fees and stake the rewards on your behalf.
• User-Friendly Interface (UI): Included in this service is a user-friendly interface (UI) that facilitates both the restaking process and management of your staked assets. The UI provides a seamless experience, making it easy for you to navigate and control your restaking preferences.

Our restaking services utilize a forked version from Restake UI for the UI andRestake for the restaking service.

3.5 Blockchain Endpoints

Our endpoints, including REST, RPC, gRPC and Wss, offer a convenient means for users to programmatically interact with the blockchain and related services. This functionality enables seamless integration into your applications, providing enhanced flexibility and control.

Given the advanced nature of this service, we recommend that users have experience in the coding field to fully leverage its capabilities. It’s important to note that endpoint availability may vary, and we may or may not run them for every blockchain.

3.6 Website

Our website serves as the primary platform for informing users about the services we offer. Here, you can find information related to the blockchains we support, along with occasional publications on our blog.

It’s essential to note that information not directly tied to our services, for example details about a blockchain’s total supply, should be independently verified from the original source. While we make every effort to ensure the accuracy and timeliness of data, the nature of blockchain projects means that tokenomics, business plans, or the core functionality of a chain may undergo changes.

For data directly connected to Our services, sourced from our platform, you can consider it legitimate. However, it’s crucial to recognize that the information provided on our website is for informational purposes only. In the dynamic landscape of blockchain projects, changes can occur, and we cannot be held liable for any modifications, pivots, or discontinuations made by external projects.

This clarification is particularly important in understanding that the data presented on our platform should not be construed as financial advice. Users are encouraged to use this information responsibly and independently verify critical details related to blockchain projects.

4. User Responsibilities

4.1 Staking Decision: The decision to stake, including the quantity and duration, is entirely yours. You have full control over how you utilize your cryptocurrencies, whether and how much you choose to stake with Cogwheel Validator, and your engagement with any other services we provide.

You bear full responsibility for adapting to changes in operations or services, as well as responding to various events, including but not limited to slashing, downtime of Validator Nodes, temporary unavailability of services, changes in commission, extreme fluctuations in rewards, or paused blockchains.

4.2 Taxes and Other Legal Obligations: You bear the responsibility for fulfilling any tax obligations associated with your Cryptocurrencies. This includes taxes related to appreciation in value, capital gains, general income (including those derived from Staking Rewards), or any other forms of taxable income. Additionally, you commit to using our services in a legal manner and refrain from engaging in or supporting any illegal activities. It is imperative that you comply with all applicable laws and regulations governing your use of Blockchain and Cryptocurrencies.

4.3 Malicious Behavior: You are strictly prohibited from taking any actions that could harm our systems or delay our ability to provide services to you or others. Permitted actions are solely those outlined in these Terms, our systems, or provided in our written instructions.
Any unauthorized attempt to use our private keys, disrupt the functionality of our technical equipment and hardware (e.g., through malware or DDoS attacks), or any other method aimed at directing our systems in a manner not permitted (as determined at our sole discretion) constitutes a violation of these terms.
You also confirm that you will not share any false information about us. This includes, but is not limited to, spreading false or inaccurate information about Cogwheel Validator, our services, or any associated entities.

5. Risk Disclosure

Cryptocurrency involvement entails certain risks. It’s crucial to understand and acknowledge the following:

5.1 Security Risks:

Cryptocurrencies are susceptible to various security risks, including but not limited to fifty-one attacks, mis-addressed transactions, Sybil attacks, eclipse attacks, compromised private keys, or vulnerabilities at the “core.” Users should remain vigilant and take necessary precautions.

5.2 Price Volatility:

The value of cryptocurrencies is subject to extreme price volatility. Prices can experience significant fluctuations, impacting the overall value of your holdings. It’s important to be aware of the potential for rapid and unpredictable price changes.

5.3 Slashing Events

Cogwheel Validators always operate with the intention of providing optimal service to their customers. While every effort is made to ensure seamless operations, it’s essential to acknowledge the minimal risk of Slashing events. Slashing can occur in instances where a Validator’s hardware or software experiences sudden errors, leading to unexpected shutdowns without further actions from the Validator.

To actively minimize the risk of Slashing, Cogwheel Validators implements monitoring systems and incident reporting system. These measures are in place to promptly address and mitigate any potential issues that could lead to slashing events.

By engaging in staking activities with Cogwheel Validators, users acknowledge these efforts to enhance the security and reliability of the staking infrastructure. It’s important to note that, despite these measures, users should be aware of the inherent risks associated with staking.

5.4 By engaging with our services, you acknowledge and assume these risks. It’s recommended to conduct thorough research and seek professional advice before making any decisions related to cryptocurrency. Additionally, please note that the validator will not be held responsible for any financial loss resulting from these risks.

6. Links to Other Websites

Our services may include links to external websites for your convenience and information. Please note that we do not have control over the terms of use, privacy policies, or the data collection practices of these external websites.

When you navigate to other websites through links provided on our platform, it is your responsibility to review and understand the terms of use and privacy policies of those websites. We do not endorse or take responsibility for the content, accuracy, or any data collection activities on external websites.

Your interactions with these linked websites are governed by their respective terms and policies. Exercise caution and ensure that you are comfortable with the terms and practices of any external websites you visit.

7. Intellectual Property

7.1 Ownership

Our website and services, including but not limited to posts, videos, images, text, and the logo, are intellectual property owned by Cogwheel. By using our platform, you agree not to reproduce, distribute, or use any of our intellectual property without explicit permission.

7.2 Logo and Image Usage

The logo and images associated with Us are protected intellectual property. Any misuse, reproduction, or unauthorized distribution of our logo and images is strictly prohibited.

7.3 Press Kit

We have a press kit available for media use. It should only be utilized for legitimate and authorized purposes, such as news articles, features, or other forms of media coverage. Misuse of the press kit is strictly prohibited.

7.4 Permissions

For any use of our intellectual property not explicitly covered by these terms, you must seek permission from Us. Requests for permission can be directed to our e-mail address.

7.5 Third-Party Content

Content provided by third parties, including linked websites and external sources, is subject to the respective intellectual property rights of those entities. We do not claim ownership of third-party content.

7.6 Software and code:

Any code or other property provided as “open-source” is governed by the rights and restrictions outlined in the accompanying license for that specific code or property.

7.6.1 License Agreement

Each open-source project is accompanied by a license agreement that defines the terms under which the code or property can be used, modified, and distributed. It is imperative to review and comply with the terms of the relevant license.

7.6.2. Usage “AS IS”:

The content, including code, provided on the Site or via our Services is provided “AS IS” and is intended for your information and personal use. We make no warranties regarding the fitness for a particular purpose or the accuracy of the content.

7.6.3 Restrictions on Commercial Use:

Except as expressly provided in these Terms of Use or the relevant open-source license, no part of the Site, Content, or Marks may be used for commercial purposes. This includes but is not limited to copying, reproducing, aggregating, republishing, uploading, posting, publicly displaying, encoding, translating, transmitting, distributing, selling, or licensing without our express prior written permission.

7.6.4 Attribution and Community Guidelines:

Proper attribution, as outlined in the relevant open-source license, is appreciated when using or referencing our open-source projects. Additionally, contributors and users are expected to adhere to community guidelines for respectful and inclusive engagement.

8. Modifications and Interruptions of the Website and/or Services

We retain the right to change, modify, or remove the contents of the Site at our sole discretion without notice. It’s important to note that we are not obligated to update any information on our Site. Similarly, we reserve the right to modify or discontinue all or part of our Services without prior notice. In cases where discontinuance becomes necessary, we’ll make an effort to keep you informed through our social network channels.

While we strive for continuous availability, we understand that unforeseen hardware, software, or maintenance issues may lead to interruptions, delays, or errors. We reserve the right to change, revise, update, suspend, discontinue, or modify the Site or Services at any time or for any reason without notice. By using our platform, you acknowledge and agree that we have no liability for any loss, damage, or inconvenience caused by your inability to access or use the Site or Services during any downtime or discontinuance.

Your understanding and support during such periods are immensely appreciated. We want to assure you that, whenever possible, we’ll make efforts to communicate any disruptions or changes via our social network channels.

9. Disclaimer of Warranties

Cogwheel and their affiliates, along with any service providers, disclaim all warranties, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose, and non-infringement. We make no warranty that our services will be error-free, uninterrupted, secure, or meet your specific requirements.

Cogwheel and their affiliates shall not be held liable to you or any third party for any damages, losses, or impairments of any kind, including but not limited to unavailability, discontinued service, malfunction of hardware or software, human errors, loss of business, loss of profits, loss of revenue, loss of data, corruption of data, double signing, Slashing, unclaimed Staking Rewards, missing Staking Rewards, missing funds, stuck transactions, failed transactions, inaccurate information, damages hardware or software (e.g., due to an earthquake or any other force majeure), incompatibility of systems or information, breach of contract, personal damage, governance votes, governance proposals, losses due to unbonding time, halted blockchains, failure to reach consensus, blockchains, or smart contracts provided or used by third parties, blockchains or smart contracts we offer complementary services to (including but not limited to a Validator), etc.

We are not responsible and shall not be held liable for any damages, losses, or impairments of any kind caused by any blockchain, network, or smart contract that we offer complementary services to, including but not limited to a Validator, as we have no way of verifying any information provided by those third parties. You are solely responsible for your decisions and actions concerning these blockchains, networks, and smart contracts.

Additionally, we make no warranty of specific results, do not endorse third-party content, are not liable for disruptions beyond our reasonable control (force majeure), and are not responsible for damages resulting from the use of third-party services or products. Users are reminded of their responsibility for the security of their accounts, passwords, and private keys.