Updated and Effective – 26-May-2022
This staking program agreement (the “Agreement”) governs YOUR (BEFORE ACCEPTING THE TERMS OF THIS AGREEMENT, YOU ARE STRONGLY ENCOURAGED TO READ THE FOLLOWING NOTICE & ALL THE TERMS & CONDITIONS OF THIS AGREEMENT, THE WALLET USE & PRIVACY POLICY) participation in the staking program offered by a group of persons, such as legal entities, JVs incorporated by means of contractual agreements, organizations and teams as well as service providers, licensed persons and suppliers who are assisting the provisions or part thereof for providing services and solutions engaging cryptocurrencies and more generally virtual assets to individuals and businesses available through various types of internet connectivity, including those provided via mobile applications and websites that are based on innovative advanced technologies such as smart contracts and blockchain (hereinafter referred to as “iOWN“).
IN ACCEPTING THE TERMS OF THIS AGREEMENT BY CLICKING I ACCEPT YOU (HEREINAFTER REFERRED TO AS “YOU” OR “YOUR”, AS THE CONTEXT MAY REQUIRE) HAVE ENTERED INTO BINDING CONTRACTUAL AGREEMENTS WITH IOWN IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT AND ITS RELATED CONTRACTUAL INSTRUMENTS SUCH AS THE TERMS AND CONDITIONS GOVERNING THE USE OF THIS WALLET AND THE PRIVACY POLICY, BOTH ARE AVAILABLE ON THE TABS SHOWN BELOW IN THIS WALLET. BY CLICKING I ACCEPT YOU REPRESENT AND WARRANT THAT YOU HAVE READ AND UNDERSTOOD ALL THE AFORESAID CONTRACTUAL PROVISIONS; HENCE, YOU ACCEPT TO BE BOUND BY EVERY AND ALL OF ITS TERMS AND CONDITIONS.
STAKING TOKENS BY YOU ARE CONSENTING TO BE BOUND BY, ASSENTING TO THE BINDING PROVISIONS OF THIS AGREEMENT, 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 AGREEMENT, OR IF ANY OF THE REPRESENTATIONS AND WARRANTIES SET FORTH IN THE AGREEMENT IS INACCURATE AS APPLIED TO YOU, YOU MUST NOT STAKE TOKENS WITH OR OTHERWISE USE OR PARTICIPATE IN THE STAKING PROGRAM.
IOWN DOES NOT PROVIDE INVESTMENT, TAX, OR LEGAL ADVICE, AND YOU ARE SOLELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, INVESTMENT STRATEGY OR RELATED TRANSACTION IS APPROPRIATE FOR YOU BASED ON YOUR PERSONAL INVESTMENT OBJECTIVES, FINANCIAL CIRCUMSTANCES AND RISK TOLERANCE.
ANY INFORMATION PROVIDED BY IOWN ITS AFFILIATES AND/OR SUBSIDIARIES, WHETHER PROVIDED IN THIS AGREEMENT, PARTICULARLY UNDER ARTICLE (3) BELOW, ON THE WEBSITE, SOCIAL MEDIA PLATFORMS, SOCIAL MEDIA SITES, BLOG POSTS, ARTICLES, LINKS TO THIRD-PARTY CONTENT, NEWS FEEDS, TUTORIALS, AND VIDEOS, OR PROVIDED BY ANY PERSON OR THIRD PARTY IN ANY MEANS OF COMMUNICATION ARE NOT INVESTMENT ADVICE, FINANCIAL ADVICE, TRADING ADVICE, OR ANY OTHER SORT OF ADVICE, AND YOU SHOULD NOT TREAT ANY SUCH CONTENT AS SUCH.
“Account” |
means your account that has been created in this Wallet in accordance with the T&C. |
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“Distribution Date” |
means the date on which the Periodical Return will be distributed during the Distribution Period. |
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“Distribution Period” |
means any date between (1st – 10th) of any calendar month (i.e., 12 months period), during which the Periodical Return will be distributed among the Eligible Participants. |
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“Effective Date” |
means the date and time of each and every Staking, providing that such date and time will apply separately for each Staking transaction you may make in the Staking Program. The following example is provided for clarity in applying a separate Effective Date principle for each transaction: – On 1/1/2022 at 2:00 PM you participated in the Staking Program through 100,000 Staked Tokens; – on 1/1/2022 at 2:05 PM you participated in the Staking Program through 50,000 Staked Tokens; and – On 1/3/2022 at 12:00 PM you participated in the Staking Program through 100,000 Staked Tokens; therefore, – three Effective Dates will apply for each Staking Transaction, being 1/1/2022 at 2:00 PM, 1/1/2022 at 2:05 PM & 1/3/2022 at 12:00 PM. |
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“Eligible Participant” |
means any Participant who is holding the ownership of the NFT(s) at the actual time of distributing the Periodical Return on the Distribution Date, providing that in case the NFT(s) is awarded to a Participant as a Staking Reward, then he/she will be entitled to receive his/her Periodical Reward in the calendar month subsequent to the calendar month in which the Periodical Reward was gained by that awarded Participant. |
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“Exchange Rate” |
means the average exchange rate for converting United States Dollars into Tokens, such average shall be produced through quoting exchange rates from the Venues on the Distribution Date or the date preceding the Distribution Date, as may be solely determined by iOWN. |
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“Lock-Up Period” |
means a minimum period of 182 calendar days as of the Effective Date during which all the Staked Tokens must remain locked (Staked) in order to entitle the Participant to gain the Periodical Reward for each Staking according to the provisions of this Agreement. |
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“Minimum Tokens” |
means 50,000 Tokens, which represent the minimum number of Tokens that shall be Staked by you to become eligible to participate in the Staking Program. |
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“Multiplication” |
means the numbers are generated when (50,000) is multiplied by any Natural Number that will not produce a number exceeding the Staking Cap, such as producing (50,000), (100,000), (150,000), (200,000), …. up-to-the Staking Cap. |
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“Natural Number” |
mean numbers that are a part of the number system, including all the positive integers from 1 to infinity but not zero, fractions, decimals, and negative numbers. |
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“NFT” |
means blockchain-tracked, non-fungible tokens from the iOWN collection that will be available on secondary markets for non-fungible tokens, e.g., opensea. |
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“Periodical Return” |
means the NFTs’ ownership gain that is repeatedly distributed in Tokens in variable amounts, which are calculated based on the two steps formula provided under article (6.2) of this Agreement, among the Participants who retain the NFTs’ ownership at the actual time of distributing the Periodical Return on the Distribution Date. |
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“Participant” |
means a holder of the Tokens that have agreed to participate in the Staking Program and/or the owner of the NFT. |
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“Platform” |
means iOWN’s technology platform and infrastructure that is used to perform the Staking Program which is accessible as a mobile application (Wallet) made available for iOS and Android devices, any reference to Platform includes a reference to its blockchain network (for which the Platform is able to perform its functionalities such as the Staking Program) and its protocols procedures and rules by which it operates. |
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“Reward” |
means the Staking Reward and/or the Periodical Return that might be gained by the Participant according to this Agreement. |
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“Staked” |
means maintaining the locking up status of all the Staked Tokens. |
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“Staked Tokens” |
mean the Tokens utilized in each Staking that is (i) not less than the Minimum Tokens; and (ii) in a number generated from the Multiplication but shall not exceed the Staking Cap. |
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“Staking” |
means each and every time a participant locks his/her Tokens to participate in the Staking Program. |
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“Staking Cap” |
means the maximum amount allotted for all Tokens to be Staked in the Staking Program, which amounts to 205,500,000 Tokens at the time of commencing the Staking Program, providing that such number will vary, from time to time, depending on the time of your Staking, providing also that such variable maximum amount will be produced at the Effective Date by applying the Staking Cap Formula. |
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“Staking Cap Formula” |
means the amount produced by applying the following formula:
Where: CPTok means 205,500,000, which is the initial Staking Cap at the time of commencing the Staking Program; and STTAgg.Eff. means the aggregate number of all Staked Tokens at the Effective Date, which is the date and time of each of your Staking. |
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“Staking Program” |
means the program made available by iOWN to natural persons who hold Tokens in an amount equal to or greater than the Minimum Tokens by which they are entitled to locking up a certain number of Tokens on the Platform for the opportunity of gaining Rewards subject to the terms and conditions of this Agreement. |
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“Staking Reward” |
means your one-time Staking prize awarded in NFT(s) in a proportional number to the number of your Staked Tokens, which is calculated by using the formula stipulated in article (6.1) of this Agreement. |
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“T&C” |
means the terms and conditions governing your use of the Wallet, including the privacy policy, which are published on the Wallet and the Website. |
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“Token” |
means iOWN Token, a cryptographical token built on the blockchain technology and issued by iOWN. |
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“Venue” |
means (i) LATOKEN, P2PB2B and COINSBIT; or (ii) any other three organised markets in which the Token is listed for quotation, quoted or traded during the-then Distribution Period; or (iii) if such Token listing during such period is limited to (a) one organised market, then that market or (b) two organised markets, then these two markets. |
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“Wallet” |
means iOWN’s software in a mobile device available for iOS and Android, which generates a cryptographic private and public key pair that you may use to send and receive any permitted digital assets including the Token. |
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“Website” |
means www.iowntoken.com |
Staking Reward formula |
Staking Reward = Staked Tokens ÷ Minimum Tokens |
Formula Example: |
Staking Reward = 100,000 ÷ 50,000 |
Jad Staked 100,000 Token |
Staking Reward = 2 NFTs |
Periodical Return |
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Periodical Return = ((NFT#No. ÷ NFT#CP) * (Value * ROA) ÷ DP)) ÷ TKR |
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For the purposes of the above Periodical Return formula: “NFT#No.” means the number of NFTs held by you on the Distribution Date. “NFT#CP” means 4110. “DP” means the Distribution Period being, 12. “ROA” means a ratio between (5% – 6%), which shall be determined in good faith by iOWN based on several economic, performance and risk factors. “TKR” means the Exchange Rate. |
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Two steps formula Example – Below are Figures for illustration purposes only |
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Jani has 10 NFTs |
ROA = 6% every month |
TKR = 0.04 every month |
Periodical Return = ((NFT#No. ÷ NFT#CP) * (Value * ROA) ÷ DR)) ÷ TKR |
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Periodical Return = ((10 ÷ 4110) * (2,000,000 * 6%) ÷ 12)) ÷ 0.04 |
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Periodical Return = 608.27 Tokens/monthly |
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Parodical Return for one year = 7,299.27 Tokens |
FREE Ratio Gain = (NFT Value + Annual Return) ÷ Staked Tokens |
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Where |
NFT Value = ((Value ÷ TKR) ÷ 4110) * Staking Reward |
Annual Return = Periodical Return * DP |
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NFT Value & Annual Return produce Tokens Currency |
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EXAMPLE: Built on Minimum Tokens & the figures for example purpose provided un article (6.2) |
NFT Value = ((2,000,000 ÷ .04) ÷ 4110) * 1 NFT Value = 11,415.53 TOKENS {i.e. each (1) NFT = 12,165.45} |
Annual Return = 60.83 * 12 Annual Return = 729.93 Tokens |
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FREE Ratio Gain = (11,415.53 + 684.96) ÷ 50,000 FREE Ratio Gain = 24.2% |