By entering the Liquidity Rewards Program "Program" you agree to these official rules, which are a contract. Please read them carefully before entering.
The Liquidity Provider Rewards Program is offered by hi Foundation Limited, a non-profit limited by guarantee incorporated in Singapore with the address 3 Fraser Street, DUO Tower, #05-25, Singapore 189352 and all crypto services are operated by Hi Technologies Limited OÜ with its business address Vabaõhumuuseumi tee 4/1-66, Haabersti linnaosa, Tallinn, Harju maakond, 13522 Estonia ("theCompany", "we" or "us")
You are only eligible to enter into this Agreement and use the liquidity provider rewards program if:
By entering into this Agreement, you acknowledge and confirm that you satisfy all the conditions set out above (" Eligible User").
If we later become aware that you are not an Eligible User ("Ineligible User"), we may delete your contribution to the liquidity pool immediately and ban you from using any of our or our Affiliates' products or services. hi shall not be held liable for any legal or monetary consequences arising from the use of the liquidity provider rewards program or our services and products by an Ineligible User.
Any Ineligible User shall indemnify and hold harmless hi and its Affiliates from any legal or monetary consequences arising from such use.
3. Program period:
The Flexi Pool program begins at 12:00 Greenwich Mean Time (“GMT”) on October 27th, 2021 and ends at 07:36 GMT on January 24, 2022.
The Mega Pool program begins at 10:34 Greenwich Mean Time (“GMT”) on December 20th, 2021 and ends at 10:34 GMT on December 20, 2022.
ETH/BSC Giga Pool
The ETH/BSC Giga Pool program begins at 4:59/4:51 Greenwich Mean Time (“GMT”) on February 25th, 2022 and ends at 4:59/4:51 GMT on February 25th, 2024.
Participants are welcome to make deposits with less than 12 months of the program duration remaining. In this case, the participant will earn rewards for the remaining period of the program, at which point he/she will be able to un-stake his/her LP tokens. Rewards will begin to become available 12 months from the moment they were accrued.
4. How to Enter:
To enter this program, you will need a wallet for crypto currencies and a hi account.
If you don’t already have a cryptocurrency wallet, visit www.metamask.io to create one; creating a metamask wallet is free. By submitting your information and creating a metamask account, you will be required to agree to the metamask terms of service and privacy notice. If you do not agree to metamasks terms of service and privacy notice, you cannot create a metamask account.
If you don’t already have a hi account, visit web.hi.com to sign up. It is free to create a hi account. By submitting your information and creating a hi account, you will be required to agree to the hi terms of service and privacy notice. If you do not agree to the hi terms of service and privacy notice, you cannot create a hi account.
To enter the program, eligible individuals (“entrants”) must:
For BEP-20 (BSC) Bonus Pools
For ERC-20 (ETH) Bonus Pools
It is possible to make multiple deposits into any liquidity pool during the program duration. The overview of a participant’s deposits are at any time visible on the Deposit page on stake.hi.com.
Participants should take note of the Lockup term, Program Duration and Network before making any deposit of LP tokens. All deposits are final.
Rewards are calculated based on the participant’s percent share of the liquidity pool according to the APY and number of LP tokens that are staked by him/her at any time. The APY will fluctuate depending on the number of participants and LP tokens in the pool.
Rewards will begin to become available six and twelve months from the day of deposit of the participant’s deposit of LP tokens for the Mega and ETH/BSC Giga Pool respectively. Participants should refer to the lockup terms for each pool before depositing.
The reward based on the participant’s share of the pool will be begin to become available for withdrawal once the lockup term has expired, and are paid out based on block time. As an example, rewards accrued in the ETH/BSC Giga Pool on the 25th Feb 2022, will become available on the 25th Feb 2023.
5. Terms Used
DEPOSIT APY. Annual Percentage Yield (APY) is the estimated yearly yield for tokens deposited in the Liquidity Rewards Program.
YOUR DEPOSITS. Showing the total amount of Liquidity Provider Tokens from the HI/BUSD pair that a member has deposited in the liquidity provider rewards program.ACCRUED REWARDS. Showing the total amount of HI a member has already earned via the liquidity provider rewards program.
ESTIMATED REWARDS. Showing the amount of HI a member is expected to receive by the end
of the liquidity provider rewards program. This is subject to change should there be changes in
REWARDS TO WITHDRAW. Showing the amount of HI that has been earned by a member up to this date that are withdrawable.
REWARDS CLAIMED. Showing the amount of HI that have been claimed by a member up to this date.
General. The interest rate and other terms disclosed to you for the liquidity provider rewards program will apply to that program until the end of the program; provided, however that we may amend the terms of any Earn Plan if such changes are immaterial and do not impact your potential interest earnings or the end date of the program.
Interest Accrual. The Balance will start accruing simple daily interest on the day after you establish the liquidity provider rewards program and fund the liquidity provider rewards program with liquidity provider tokens from the relevant wallet in your hi Platform. Interest will not be compounded. This account does not allow interest to remain in the liquidity provider rewards program account based completion of the Earn Term. If you choose to withdraw your liquidity provider tokens before the end of the program, you will receive the interest up to the point of withdrawal.
Interest Computation Method. We use the daily-balance method to calculate the interest on your Earn Plan. This method applies a daily periodic rate (calculated by dividing the liquidity provider rewards program’s applicable interest rate by the number of days in the year) to the Balance in the liquidity provider rewards program each day.
6. Our Rights:
We expressly reserve the right to and at any time, without liability to you to:
You are responsible for your own tax obligation regarding your use of the liquidity provider rewards program. It is your responsibility to determine what kind of filing or reporting is required of you by the competent tax authority, which taxes and to what extent you are obliged to pay and which tax exemptions you are eligible to. hi shall not be required to compensate you for your tax obligation or advise you in relation to your tax issues. Notwithstanding the foregoing, hi will make any tax withholdings or filings that we are required to make by applicable law.
8. Restricted activities
You shall use the liquidity provider rewards program and our services in good faith and in accordance with these Terms. Without limiting the foregoing, you agree that you shall not:
(i) violate or breach any terms in these liquidity provider rewards programT&Cs, the applicable Privacy Notice or Cookies Policy or any applicable laws and regulations in any jurisdiction;
(ii) provide false, inaccurate, incomplete, out-of-date or misleading information;
(iii) commit, conduct or perform any misrepresentation, fraud, malicious act or criminal activities; (iv) interfere, intercept, or expropriate our network, system, data, or information;
(v) transmit or upload any virus, or other malicious software or program;
(vi) attempt to gain unauthorized access to other users' accounts, website, network or systems relating to our services;
(vii) decompile, reverse engineer or disassemble the liquidity provider rewards program or any of our programme, system or product, or in any way infringe our intellectual properties rights;
(viii) cause or launch any programs or scripts for the purpose of scraping, indexing, surveying, or otherwise data mining any portion of the liquidity provider rewards program or any of our programme, system or product; or unduly burdening or hindering the operation and/or functionality of any aspect of the liquidity provider rewards program..
Legal and Regulatory: The regulatory status of Digital Assets is currently unsettled, varies among jurisdictions and subject to significant uncertainty. It is possible that in the future, certain laws, regulations, policies or rules relating to Digital Assets, blockchain technology, or blockchain applications may be implemented, which would directly or indirectly affect or restrict the services we provide to you.
YOU ARE RESPONSIBLE FOR DETERMINING WHETHER THE LIQUIDITY PROVIDER REWARDS PROGRAM OR ANY OF OUR SERVICES IS LEGAL IN YOUR JURISDICTION AND YOU SHALL NOT USE THE LIQUIDITY PROVIDER REWARDS PROGRAM OR ANY OF OUR SERVICES SHOULD SUCH USE BE ILLEGAL IN YOUR JURISDICTION. IF YOU ARE UNCERTAIN, PLEASE SEEK INDEPENDENT LEGAL ADVICE.
We may be forced to suspend or discontinue or to change aspects of the liquidity provider rewards program or any of our services in any jurisdictions if demanded by the regulators without notice and for whatever reason. In such instance, Digital Assets in your liquidity provider rewards program Account may be frozen for an indefinite period of time until the matter is resolved.
Theft, Hacking and Cyber Attack: Digital Assets may be subject to expropriation, theft and/or fraud; hackers or other malicious groups or organizations may attempt to interfere with our system/network in various ways, including malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing which may result in the loss of your Digital Assets, or the loss of your ability to access or control your Digital Assets. In such event, there may be no remedy, and holders of Digital Assets are not guaranteed any remedy, refund, or compensation. It is your responsibility to take precautions to ensure that your use and
access to the liquidity provider rewards programAccount and the hi Platform are free from viruses and other items of a
Source Code Weakness: There is a risk that the hi Platform or any of our products may unintentionally include weaknesses or bugs in the source code which may adversely affect the liquidity provider rewards program.
Tax: The uncertainty in tax legislation relating to Digital Assets may expose you to any currently unknown or future tax consequences, associated with your holding of Digital Assets and the use of our service.
Insurance: The Digital Assets held in your account including your liquidity provider rewards programarenot protected by any government-backed insurance scheme, including without limitation the Federal Deposit Insurance Corporation (FDIC) or the Canada Deposit Insurance Corporation (CDIC).
Force Majeure: hi shall not be liable for any delay, error, interruption or failure to perform any obligation under this liquidity provider rewards programT&Cs where the delay or failure is directly or indirectly resulting from any cause beyond our control, including but not limited to (i) acts of God, nature, court or government; (ii) failure or interruption in public or private telecommunication networks, communication channels or information systems; (iii) acts or omissions of acts of a party for whom we are not responsible; (iv) delay, failure or interruption in, or unavailability of, third party services and sites; (v) strikes, lockouts, labour disputes, wars, terrorist acts and riots; and (vi) viruses, malwares, other malicious computer codes or the hacking of any part of the hi hi Platform Services or the liquidity provider rewards program.
The risks and considerations set out in these liquidity provider rewards programT&Cs are provided as general
information only. You understand and agree that you use the hi Platform and the liquidity provider rewards program at
your own risk. This section is not exhaustive and does not disclose all the risks
associated with Digital Assets and the use of our services. You should, therefore,
carefully consider whether such use is suitable for you in light of your circumstances and financial resources and should consult your own financial, legal or any other advisers.
10. Disputes and Governing Law:
By participating in the program, each entrant agrees that to the extent permitted by applicable law: (1) any and all disputes, claims and causes of action that cannot be resolved between entrant and any releasee arising out of or connected with the program, or any prize awarded, will be resolved individually, without resort to any form of class action; (2) any and all claims, judgments and awards will be limited to actual third-party, out-of-pocket costs incurred, (if any), not to exceed ten dollars ($10.00), but in no event will attorneys’ fees be awarded or recoverable; (3) under no circumstances will any entrant be permitted to obtain any award for, and entrant hereby knowingly and expressly waives all rights to seek, punitive, incidental, consequential or special damages, lost profits and/or any other damages, other than actual out-of-pocket expenses not to exceed ten dollars ($10.00), and/or any rights to have damages multiplied or otherwise increased; and (4) entrant’s remedies are limited to a claim for money damages (if any) and entrant irrevocably waives any right to seek injunctive or equitable relief.
These official rules shall be governed by the laws of Singapore. Any dispute, controversy, difference or claim arising out of or relating to this Memorandum, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre under the Singapore International Arbitration Centre Administered Arbitration rules in force when the Notice of Arbitration is submitted. The seat of arbitration shall be Singapore. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.
11. General rules:
Notice: Any notice required or made under these liquidity provider rewards program T&Cs by us to you may be provided through: (i) posting a notice on our website (hi) or hi Platform; or (ii) sending an email to your registered email address. Notices provided through posting on our website or app shall become effective upon posting; and notices we sent by email shall become effective upon sending the email.
Any notice required or made under these liquidity provider rewards program T&Cs by you to us shall only be made through email in English language. We will accommodate another language if requested by you in writing following receipt of such notice when required by applicable law.
Your use of other features of the hi Platform shall be governed by the hi Platform T&Cs.
Severability: The invalidity of the whole or part of any provision of these liquidity provider rewards program T&Cs shall not affect the validity of the whole or part of any other provision of this Agreement, the remaining portions of these liquidity provider rewards program T&Cs shall remain in full force and effect.
Waiver: The failure by us to exercise or enforce any right or provision of these liquidity provider rewards program T&Cs shall not constitute a present or future waiver of such right or provision.
Amendments: These liquidity provider rewards program T&Cs (including fees and charges, if any) may be updated or amended from time to time. We will post any such updates on the hi hi Platform or website (hi). Such updated terms as posted will take effect immediately unless otherwise indicated. You should regularly check the hi hi Platform and website to inform yourself of any such changes. By continuing to use the liquidity provider rewards program after any such changes have taken effect, you are indicating your acceptance of the updated or amended liquidity provider rewards program T&Cs. If you do not wish to be bound by any changes or amendments to the liquidity provider rewards program T&Cs, you should stop using the liquidity provider rewards program immediately.
Relationship: By providing the liquidity provider rewards program service to you does not make us your trustee or investment adviser and no fiduciary relationship exists between us. We have no trust or other obligations in respect of your crypto assets other than those expressly specified in these liquidity provider rewards program T&Cs.
Third Parties Rights: Other than the Affiliates of hi, a person who is not a party to this Agreement shall have no right under this Agreement.
Transfer and Assignment: You shall not assign, delegate or transfer any rights or obligations under this Agreement, without our prior written consent. Any such assignment, delegation or transfer made without our consent shall be void and invalid. Notwithstanding the foregoing, we reserve the right to assign, delegate or transfer this Agreement and the rights and obligations hereunder to any third party at any time without your notice or consent..
NOTICE: Cryptocurrencies, virtual currencies, and other digital assets are NOT bank deposits, are NOT legal tender, are NOT backed by the government, and accounts and value balances are NOT subject to Federal Deposit Insurance Corporation, Canada Deposit Insurance Corporation, or Securities Investor or any other governmental or government-backed Protection Corporation protections. Legislative and regulatory changes or actions at the State, Federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrencies, virtual currencies or other digital assets.