Terms of service
and staking agreement

These Terms of Service and this Staking Agreement (Collectively referred to herein as the “Agreement”) govern the legal relationship between Perpetual, LLC, a Minnesota Business Limited Liability Company d/b/a Sonarch (herein referred to as “Sonarch” or “We” or “Our”) and You, the utilizer of the services described herein and any of your heirs, agents, appointees, or successors in interest (“You” or “Your”). This Agreement shall be used for Staking cryptocurrency with Sonarch for the purpose of Staking Rewards and to utilize Sonarch’s Node Validation Services ((Service(s)) and should not be used for any other purpose. You represent that whether on your personal behalf or for an institution or company that You have authority to legally Stake cryptocurrency to Sonarch and adhere to the terms listed in this Agreement.

BY STAKING CRYPTOCURRENCY THROUGH ANY Sonarch NODE VALIDATION SERVICES YOU ARE CONSENTING TO BE BOUND BY, ASSENTING TO THE TERMS AND CONDITIONS OF, MAKING REPRESENTATIONS AND WARRANTIES SET FORTH IN, AND WILL BECOME A PARTY TO THIS AGREEMENT.

IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS OF THE NOMINATION AGREEMENT, OR IF ANY OF THE REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT ARE INACCURATE AS APPLIED TO YOU, YOU MUST NOT STAKE CRYTOCURRENCY WITH OR OTHERWISE USE Sonarch VALIDATION SERVICES.

Definitions

Use of Services.

If you are under 18 years of age, you are not authorized to use the Service, with or without registering. Any use or access to the Service by anyone under 18 is strictly prohibited and in violation of these Terms. You may use the Service only if you are in compliance with these Terms and all applicable local, state, national, and international laws, rules, and regulations. You agree, at all times, to utilize the Services solely for the purposes for which they are intended and not for any illegal or fraudulent activity. You agree to be bound by the Service rules below. WE NEVER REQUEST PERSONAL INFORMATION AND YOU SHOULD NOT PROVIDE ANY SUCH INFORMATION TO ANYONE CLAIMING TO REQUEST IT ON OUR BEHALF.

Service Rules

You agree to not use the Service to:

Confidentiality

Each party may be exposed to the other party’s Confidential Information in the course of each party’s performance under this Agreement. Each party, on behalf of itself and its employees, contractors and agents “Representatives”), agrees not to, except as set forth below or as required by applicable law or regulation, use or disclose Confidential Information during or after the term without the prior written consent of the other party. To protect Confidential Information, each party agrees to: (i) limit dissemination of Confidential Information to only those Representatives with a “need to know” in connection with this Agreement; (ii) advise each Representative who receives Confidential Information of the confidential nature of such information; and (iii) have appropriate agreements, policies and/or procedures in place with such Representatives sufficient to enable compliance with these confidentiality obligations. Nothing in this section will prohibit either party from disclosing Confidential Information to that party’s professional advisors who are bound by a duty of confidentiality at least as restrictive as set forth in this Agreement. This Section will survive termination of this Agreement for a period of three (3) years.

Indemnification

You shall indemnify, defend and hold harmless Sonarch from and against all claims, suits and actions brought against Sonarch by You or any third party, and all resulting liabilities, damages, losses and costs awarded by a court or included as part of a final settlement (in addition to reasonable attorney’s fees and disbursements), arising from or relating to Your use of the Services in a manner that breaches the terms and conditions of this Agreement or violates applicable laws or regulations.

Limitations of liability and disclaimer of warranties

You understand and agree that We have no control over, and no duty to take any action regarding: Failures, disruptions, errors, or delays in processing Virtual Currency that you may experience while using the Services; The risk of failure of hardware, software, and Internet connections; The risk of malicious software being introduced or found in the software underlying Sonarch; The risk that third parties may obtain unauthorized access to information stored within your wallet, including, but not limited to your wallet address, private key, and mnemonic (backup) phrase; and the risk of unknown vulnerabilities in or unanticipated changes to various networks. You release us from all liability related to any losses, damages, or claims arising from: (a) user error such as forgotten passwords, incorrectly constructed transactions, or mistyped virtual currency addresses; (b) server failure or data loss; (c) unauthorized access to the Sonarch application; (d) bugs or other errors in the Sonarch software; and (e) any unauthorized third party activities, including, but not limited to, the use of viruses, phishing, brute forcing, or other means of attack against Sonarch. We make no representations concerning any Third Party Content contained in or accessed through our Services. Any other terms, conditions, warranties, or representations associated with such content, are solely between you and such organizations and/or individuals.

Limitation of Liability

To the fullest extent permitted by applicable law, in no event will we or any of our officers, directors, representatives, agents, servants, counsel, employees, consultants, lawyers, and other personnel authorized to act, acting, or purporting to act on our behalf (collectively the “acting parties”) be liable to you under contract, tort, strict liability, negligence, or any other legal or equitable theory, for: (a) any lost profits, data loss, cost of procurement of substitute goods or services, or direct, indirect, incidental, special, punitive, compensatory, or consequential damages of any kind whatsoever resulting from: (i) your use of, or conduct in connection with, our services; (ii) any unauthorized use of your wallet address and/or private key due to your failure to maintain the confidentiality of your wallet; (iii) any interruption or cessation of transmission to or from the services; or (iv) any bugs, viruses, trojan horses, or the like that are found in the Sonarch software or that may be transmitted to or through our services by any third party (regardless of the source of origination), or (b) any direct damages in excess of (in the aggregate) of the greater of: (i) fees paid to us for the applicable products; or (ii) $100.00. these limitations apply regardless of legal theory, whether based on tort, strict liability, breach of contract, breach of warranty, or any other legal theory, and whether or not we were advised of the possibility of such damages.

Warranty Disclaimer

Sonarch services are provided "as is" and without warranty of any kind. To the maximum extent permitted by law, Sonarch disclaims all representations and warranties, express or implied, relating to the Sonarch services, whether provided or owned by Sonarch or by any third party, including without limitation, warranties of merchantability, fitness for a particular purpose, title, non-infringement, freedom from computer virus, and any implied warranties arising from course of dealing, course of performance, or usage in trade, all of which are expressly disclaimed. in addition, Sonarch does not represent or warrant that the content accessible via the services is accurate, complete, available, current, free of viruses or other harmful components, or that the results of using the services will meet your requirements.

Choice of Law and Venue.

This Agreement and all aspects of Your relationship with Sonarch shall be governed by the laws of the State of Minnesota. This applies regardless of the theory being advanced and whether it sounds in contract, tort, federal, state law, or otherwise. Further, any dispute arising under out of this Agreement or from your relationship with Sonarch shall be subject to the exclusive venue of the state and federal courts of the State of Minnesota.

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