General Terms

Please read the following Terms and Conditions (“Terms of Service”, “Terms of Use”, “Terms”) thoroughly before entering into client-service relationships with the https://sila-systems.com (“Service”). Sila Systems Validation Services (“Sila Systems”, the “Company”, “Service”, “Platform”, “Us”, “Our”, or “We”), by and through https://sila-systems.com (the “Website”), which is running, hosting, providing staking services via validating nodes across Solana blockchain network.

Once an individual and/or company accesses the Website, starts using the Website functionality or any other Sila Systems Service, including Our staking Platform, but not limited to, providing or submitting any information to Us, An individual consents to and agrees with these Terms of Use.

Any User of the platform (“Client”, “User”, “Individual” or “You”) gives an agreement to stay compliant with these Terms of Use and other policies, procedures or rules imposed by the Service. Moreover, Terms and Conditions, as well as other policies, procedures, or rules, are subject to change, and the Company reserves the right to modify them without providing notice to its clients. In case you do not agree with these Terms and Conditions, you are restricted to view or use the Website or Sila Systems services.

Regulatory Compliance

You, as a Client, must warrant and represent that your Service usage will stay compliant with all applicable regulations and laws. You are completely responsible for understanding whether or not the Sila Systems Service is suitable for you in respect of such data privacy laws and regulations as GLB, HIPAA, GDPR, similar or any other applicable laws. In case you use Our Service and you are subject to the aforementioned laws or regulations, then the Sila Systems Service is not liable if the Platform does not meet those required criteria.

Moreover, you take complete responsibility for any other laws and regulations in your jurisdiction whether they restrict or allow you to use such services as Sila Systems staking. Sila Systems is not liable for any of your actions that violate your laws in your jurisdiction through the usage of the Service.

Ownership and Intellectual Property

The Sila Systems Validator owns all proprietary rights in the Service which include the domain (https://sila-systems.com), such marketing materials as logos, color schemes, design, and also, but not limited to, copyrights, trademarks, trade secrets, service marks, development practices, proprietary software, and other intellectual property rights. You as a Client is obligated to respect all intellectual property of the Sila Systems Validator mentioned above, which is protected by law.

Use License

You are allowed to use our Service as it is provided by the Sila Systems Validator, without any modifications to the software or the Service that we provide. Modifying any software created by Our Company without prior notice is restricted. Additionally, extracting and using source code created by the Sila Systems Validator is also restricted.

You shall not perform any unlawful actions against the Company, that may create a huge load on our infrastructure interfering the normal work of the Company; attempt to bypass or circumvent any security mechanisms, gain unauthorized access to any type of our computer systems, conduct any activities that may disrupt the work of the Company, run malicious code such as worms, trojans, cryptojacking software and other types of the viruses against the Company, including, but not limited to, computer networks or computer systems.

It’s also prohibited to launch any software (“crawlers”, “spiders”, “auto-responders”) or devices on the Company, that will automatically or manually collect any data on the Website, or will spam on the Company. In case a User or any other individual has damaged any part of the Service due to any type of the cyber attack, then this case will be reviewed and provided to Law Enforcement, which will act accordingly in this situation.

Sila Systems Service Provision and Termination

The Sila Systems provides Staking services to Client using validating nodes. The Company chooses by itself the necessary hardware and network requirements to provide a stable and efficient Staking service to Clients. Sila Systems Validator holds responsibility for server maintenance, new hardware installation, or any server upgrades, software updates and covers all costs associated with these types of operations.

Sila Systems conducts revenue share payments based on the amount of cryptocurrency staked by the Client. The payout percentages strictly depend on the type of the staked cryptocurrency, and this information is available on the homepage of the Website under the “Home” section.

Client Rights and Obligations

You as a Client of the Company must cover all applicable taxes associated with staking payouts, which may be the subject of the official taxation process in different jurisdictions. In this case, the Sila Systems Validator is not responsible for any Client taxes that were imposed by different legislation systems.

If you want to initiate the withdrawal process, then you have to wait until the Unbonding Period whose length strictly depends on the timing it was initiated (epoch dependent). It’s important to mention that you won’t be able to withdraw your staked cryptocurrency before the Unbonding Period (more information about Unbonding period in our FAQ).

Representations and Warranties

Each party represents and warrants to the other Party that:

• (i) it is duly organized, validly existing, and in good standing under its jurisdiction of organisation and has the right to enter into these Terms of Use;
• (ii) the execution, delivery, and performance of these Terms of Use and the consummation of the transactions contemplated hereby are within the corporate powers of such Party and have been duly authorized by all necessary corporate action on the part of such Party, and constitute a valid and binding agreement of such Party;
• (iii) it has the full power, authority, and right to perform its obligations and grant the rights it grants hereunder; and
• (iv) its performance under these Terms of Use shall comply with all applicable laws, rules, and regulations, including, without limitation, all applicable national and international laws, regulations, notices, and guidelines relating to information privacy.

Prohibition of Use

BY ACCESSING AND USING SILA SYSTEMS STAKING SERVICES, YOU REPRESENT AND WARRANT THAT YOU HAVE NOT BEEN INCLUDED IN ANY TRADE EMBARGOES OR ECONOMIC SANCTIONS LIST (SUCH AS THE UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST OR EUROPEAN EXTERNAL ACTION SERVICE), THE LIST OF SPECIALLY DESIGNATED NATIONALS MAINTAINED BY OFAC (THE OFFICE OF FOREIGN ASSETS CONTROL OF THE U.S. DEPARTMENT OF THE TREASURY) OR OFFICE OF FINANCIAL SANCTIONS IMPLEMENTATION, HAVE NOT BEEN DESIGNATED BY THE U.S. GOVERNMENT AS A “TERRORIST SUPPORTING ” OR EEAS JURISDICTION, HAVE NOT BEEN INCLUDED IN THE DENIED PERSONS OR ENTITY LIST OF THE U.S. DEPARTMENT OF COMMERCE OR THAT YOU ARE NOT LISTED ON ANY U.S. GOVERNMENT LIST OF PROHIBITED OR RESTRICTED PARTIES.

SILA SYSTEMS STAKING SERVICES RESERVES THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN ITS DISCRETION, THE PROVISION OF SILA SYSTEMS STAKING SERVICES IN CERTAIN JURISDICTIONS, INCLUDING BUT NOT LIMITED TO NORTH KOREA, IRAN, AFGHANISTAN ETC.

Please note that there are legal requirements in various jurisdictions which may restrict the products and services that Sila Systems Staking services can lawfully provide. Accordingly, some products and services and certain functionality within the Sila Systems Staking Services may not be available or may be restricted in certain jurisdictions or regions or to certain users.

You shall be responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of the Sila Systems Staking Services in each jurisdiction from which the Sila Systems Staking Services are accessed by you or on your behalf. Sila Systems Staking reserve the right to change, modify or impose additional restrictions with respect to the access to and use of the Sila Systems Staking Services from time to time at Our discretion at any time without prior notification.

Limitation of Liability

NO PARTY TO THE TERMS WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE, OR THE COST OF SUBSTITUTE SERVICES ARISING OUT OF OR IN CONNECTION WITH THE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT SUCH PARTY HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY.

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL CLIENT’S OR COMPANY’S TOTAL LIABILITY TO THE OTHER ARISING OUT OF OR IN CONNECTION WITH THE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES EXCEED THE AMOUNTS PAID OR PAYABLE BY CLIENT TO COMPANY FOR USE OF THE SERVICES DURING THE TWELVE (12) MONTH PERIOD PRIOR TO THE DATE WHEN THE CLAIM OR LIABILITY FIRST AROSE.

Compliance with Laws/Copyright

Each party shall comply with all Applicable Law in connection with the performance of its obligations and the exercise of its rights in the Services. Without limiting the foregoing, Company respects copyright law in all jurisdictions in which it does business and expects its Clients to do the same. It is Company’s right to terminate, in appropriate circumstances, Clients, which infringe or are believed to be infringing the rights of copyright holders.

Confidential Information and Confidentiality Obligations

Company understands that it may receive confidential information of Client and Client understands that it may receive confidential information of Company. The receiving party agrees not to divulge to any third party any confidential information of another party and not to use any confidential information of another party for any purpose not contemplated by the Terms.

Data Disclosure

We do not disclose or sell your personal information to any third parties, because we care about your privacy as well as our reputation. It is important to mention that personal information may be disclosed in good faith belief in court or in other legal proceedings in order to protect the personal safety of the Users or employees of the Service, protect the rights or intellectual property of the Sila Systems Staking service, and to prevent some illegal actions that may lead to negative outcomes.

Links to Other Resources

We encourage our users to stay vigilant when opening different links on our website that lead to other websites that we have no control of. When you open other websites, then you have to read their Privacy Policy, and in this case, the Sila Systems Staking services is not responsible for any practices and services of any third party sites.