Skip to main content
DestinyX Quantum Staking Terms
Updated over 9 months ago

Last updated: 12 March 2024

  1. General terms

    These Terms govern your use of the DestinyX Quantum Staking. Quantum Staking is a stand-alone Service (the “Service”) offered by DestinyX, whereby DestinyX, upon your express consent and on behalf of you, the User, places all or portion of the user’s eligible digital assets with third-party protocols (or, in some cases, entities, platforms, or other similar undertakings) (the “Protocols”) for the purposes of generating rewards on the your Eligible Digital Assets at a certain rate, under the conditions and limitations of these Terms and other limitations that may be put forward by DestinyX at any time at its sole and absolute discretion. The assets that you choose to stake under this Service are the “Staked Assets”. The User may be able to receive rewards that are in the same kind of Staked Assets deposited through the DestinyX platform, or in another kind of digital asset under some circumstances.

  2. Your Consent

    By participating in the Service, you acknowledge that you have read, understood, and explicitly accepted all of these Terms, including the Risk Disclosure below, and you acknowledge and agree that you will be bound by and will comply with these Terms. If you do not understand and accept these Terms in their entirety, you should not participate in the Service.

    You further understand and agree that by selecting to participate in the Service, (i) DestinyX has the authority to put your Staked Assets into third-party Protocols, and (ii) once this is done, your Staked Assets will no longer be held with DestinyX, and DestinyX may have little or no control over them. As such, DestinyX, may have no legal or regulatory obligation to you for Staked Assets.

  3. Further Conditions

    Any rewards and balance of Staked Assets staked by you through your Account will be visible to you in your Account. All terms and conditions as to depositing, withdrawing, adding Staked Assets to your Balance, reward generation, APY and other terms of the Service are available in your Account and may change with or without prior notice.

    DestinyX, at its sole discretion, may update reward rates from time to time. The rewards rates are determined based on various considerations, including market conditions, demand and supply of particular Staked Asset. Rewards are not determined based on DestinyX income or profit generated. While DestinyX strives to maintain stable reward rates over time, any change in market conditions and other circumstances may bring about changes to such rates. DestinyX will update Users on any change to reward rates through the Platform. DestinyX does not guarantee that you will receive rewards at the reward shown at the time you subscribe to the Service. Any representation concerning possible return is only indicative and not guaranteed.

    Other conditions of the Service, such as compounding of rewards, lock-in and withdrawal terms, other fees and charges etc., are variable and are displayed to the User in their Account. You at all times agrees to be bound by the additional terms and conditions of the Service, displayed to them through the DestinyX platform, whether or not You actively choose the additional terms and conditions (such as choosing whether you want to lock-in your Staked Assets for a certain period or not). If you do not agree with any particular condition of the Service, you must discontinue using the service and explicitly opt-out from the Service.

  4. Eligibility

    You can use the Service only if: (i) you have an active DestinyX account, meaning you have read, accepted and comply with the DestinyX Terms and Conditions in full; (ii) you are not a citizen or resident of the Hong Kong, Singapore, the United Kingdom, United States; and (iii) you are not from and do not have any relevant connection with any jurisdiction in which using the Service these Terms or the delivery, holding, use or exchange of Staked Assets is unlawful or restricted in any way; or requires licensing and registration or approval of any kind, whether for you as User or DestinyX as a provider of services to you.

  5. Limitations to the Service

    The Service is not an investment program; rather, you are earning rewards, in accordance with the rates published and updated from time to time by us, on the deposit of Digital Assets you have transferred through your Account.

  6. Discontinuing use of the Service

    You may choose to discontinue using the Service service explicitly through your DestinyX account or by contacting DestinyX. If, at any time, for legal or other reasons an Account is suspended or frozen by DestinyX, Digital Assets deposited through such Account shall not be eligible to earn rewards.

    Your previously Staked Assets should generally be available to you after you discontinue using the Service, unless you have chosen to lock in your Staked Assets for a certain period of time. In that case, the Staked Assets may not be available to you for the duration of the lock-in period. Other risks and limitations, outlined in these Terms apply.

  7. Risk Disclosure

    Before and at all times while using the Service, you must consider carefully the risks arising out of owning digital assets, generally, as well as participating in staking through the Service, including, but are not limited to: (i) the risk that the Staked Assets may be lost because, among other things: your Staked Assets are put directly into Protocols owned and operated by third parties, Staked Assets are outside of DestinyX’s control and DestinyX cannot guarantee the return of Staked Assets, and events may occur at the protocol level (including, but not limited to, hacks, theft, exploits, funds sent to wrong address, government seizure, fraud, blockchain failure, high gas fees, force majeure, Act of God), which is outside of DestinyX’s control; (ii) the inherent risks of each Protocol, including, but not limited to, the rules of the smart contract, the protocol, and the use of your Staked Assets; (iii) whether the Protocol suspends, discontinues, and terminates its business, closes down, suspends, or stops trading.

  8. Limitation of Liability

    The Service is provided ‘as is’ and without any representation or warranty, whether express, implied, or statutory. DestinyX disclaims all other representations or warranties, express or implied, made to you, your affiliates or any third party, including, without limitation, any warranties regarding the quality, suitability, merchantability, fitness for a particular purpose or otherwise of any service or any goods provided incidental to the Service under these general terms.

    In no event will DestinyX be responsible or liable to you or any other person or entity for any direct or indirect losses (including total or partial loss of Staked Assets, loss of profits, business or opportunities), damages, or costs arising out of or in connection with the use of this Service, including in connection with any risk identified above. This limitation of liability is in addition to the limitation of liability contained in the DestinyX Terms and Conditions, and does not exclude any liability for fraud or gross negligence.

    In case the liability of DestinyX cannot be excluded, in no event will our aggregate liability for any loss or damage arising in connection with the Service and these terms exceed the amount of rewards earned on your Staked ASsets during the 12-month period immediately preceding the event, giving rise to the claim for liability, if any.

  9. Indemnification

    You agree to indemnify and hold harmless DestinyX, its affiliates, subsidiaries, parent companies, contractors, licensors, and their respective directors, officers, employees, and agents (collectively, the “Indemnified Parties”) from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of the Service or conduct in connection with the Service, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulations of any jurisdiction or rights of any third party during your use of the Service. If you are obligated to indemnify the Indemnified Parties, pursuant to this Section, we shall have the right, in our sole discretion, to control any action or proceeding and to determine whether we wish to settle, and if so, on what terms.

  10. Other

    Any matters not governed by these Terms are governed by the DestinyX Terms and Conditions, including the terms not defined herein. In case of any discrepancy between DestinyX Terms and Conditions and these Terms, the former shall prevail.

Did this answer your question?