Custodial Account and Staking Terms – Quantia.io [ESP]

INTRODUCTION

These Staking Product General Terms and Conditions (“General Terms”) govern the contractual relations between you (“Client” or “you”) and any holding company, subsidiary or entity belonging to Quantia group of companies (“Quantia” or “we”), while you and Quantia are hereinafter separately referred to as “Party” and jointly - as “Parties”, in regard to your use of the Quantia Staking Product, and constitute a legally binding agreement (“Agreement”) between the Parties.

ACCEPTANCE OF TERMS

By having a Staking Product, you agree with the terms and conditions contained herein. We reserve the right to update these Staking Product General Terms and Conditions at any time, and may notify you of such changes via the Website or by email at the address specified on your account application, but we have no obligation to notify you of every update.

Client Conditions

You can enter into this Agreement and use the Quantia Staking Product only if all of the conditions below are met:

You must reside in a jurisdiction where we offer a Crypto Staking Product and be at least eighteen (18) years old to apply. Your Quantia Account can be opened through quantia.io. Initially, all received cryptocurrencies will be deposited into an account held by one of Quantia’s institutional custodians or its affiliates.
In order to open your account, we will first verify your identity and require you to provide acceptable forms of identification. To help the government fight the funding of terrorism and money laundering activities, federal law requires us to obtain, verify, and record information that identifies each person or entity that opens an account. We may also ask for your driver’s license or other identifying documents. For business accounts, we may require identification information related to a controlling manager and/or equity owners of your business. You represent and warrant that any and all information provided to us pursuant to these Staking Product General Terms and Conditions or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible. Note that we may use credit reports or other information from third parties to help us determine if we should open or maintain your account.
Crypto Staking Product is not available in any other jurisdiction which we determine we would not be able to or chose not to offer it. Due to the dynamic nature of regulatory requirements and interpretations in the cryptocurrency market, we reserve the right to update the list of prohibited jurisdictions and reject applications to open accounts that we determine we would be unable to accept for regulatory or policy reasons in our sole and absolute discretion.
Your account is not deemed to be opened, and we have no responsibility to you unless and until you have received written (which may be electronic) confirmation from us that your account has been opened. We are not obligated to accept an application from any applicant, and we reserve the right not to open an account for any applicant in our sole and absolute discretion.
By entering into this Agreement, you acknowledge and confirm that you meet all the conditions set out above. In the event that we subsequently ascertain that you have not met or do not meet any of these conditions anymore, we may suspend the provision of the Quantia Staking Product and/or the related Quantia services to you and close your Quantia Account.
You understand and agree that, at any time, at our sole and absolute discretion, without liability to you, we can: (i) refuse your request to use the Quantia Staking Product; (ii) change the conditions for entering into the Agreement or use of the Quantia Staking Product; (iii) suspend the provision of the Quantia Staking Product or of all or part of the related Quantia Services; or (iv) change, update, remove, cancel, suspend, disable or discontinue any feature, component, content, incentive or referral plan of the Quantia Staking Product without or with minimal notification ahead.

How Staking Products can be owned

Crypto Staking Product can be held in the types of ownership described below.

Individual Account. This account is owned by only one person or entity who can transfer or withdraw cryptocurrency held in the account.
Corporate Account. This account is owned by a corporation, unincorporated association, limited liability company, limited liability partnership, fiduciary, partnership, sole proprietorship or other entity holding an account in any capacity other than an individual capacity. Each person or entity completing any account opening requirements represents and agrees that he or she (i) is fully authorized to execute all documents or otherwise complete our requirements in his or her stated capacity, (ii) has furnished all documents or other information necessary to demonstrate that authority, and (iii) will furnish other documents and complete other requirements as we may request from time to time. We may refuse to recognize any resolution affecting your business account that appears to us to be incomplete or improperly executed.

Specific features of the Quantia Staking Product

The Quantia Staking Product allows you to earn interest on certain digital assets topped up into your Quantia account or moved to the Borrowing account.
You may opt to have uninvested funds, utilizing the Quantia account as a Custodial account, where you will solely safeguard your funds without generating interest.
You may opt for a flex term or for a fixed term. The terms applicable to each of the above types, including but not limited to the digital assets on which interest can be earned, the interest and the duration of the fixed term, if any, are indicated on the platform and may be changed by Quantia from time to time, at its sole and absolute discretion.
You are allowed to have multiple active Quantia Staking products, running simultaneously. Interest will be accrued separately on each product.
If you opt for a fixed term, you cannot terminate the agreement in the relevant part thereof governing your use of this Staking product prematurely or withdraw your digital assets before the expiry of the fixed term.
If you opt for a flex term, you can terminate the agreement at any time, considering that day you will not generate interest. Interests will be paid on a daily basis.
Once you've started a Quantia Staking product, on the following day you will start accumulating interest that gets paid out daily at around 23:59 UTC-0. All daily interest payments compound.

How interest is calculated

Interest on the Crypto Staking Product is variable. We publish our interest rates on our Website.. Changes to interest rates will be posted or messaged to you before changes are made, typically before the first business day of each month. Our interest rate may be tiered, with specified rates in effect at any time only applied to specific portions of amounts in a Crypto Staking product. Interest will be payable in arrears and added to the principal in your account on a monthly basis.
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the specified principal in the account on each day. The daily periodic rate is calculated by dividing the applicable interest rate by the number of days in the year. We will determine the interest rates and tiers for each month at our sole discretion, and you acknowledge that your account is not a bank deposit account and such rates may not be equivalent to benchmark interest rates observed in the market for bank deposit accounts.

How interest is paid

Flex Term

We will credit your Quantia Account with the interest earned daily. All interest will be paid in cryptocurrency. The accrued interest will be calculated and paid to the one hundred millionth of the relevant unit of cryptocurrency. Any digits beyond that will be truncated; balances and interest payments on account statements will be truncated to eight decimal digits (one hundred millionth of a unit).

Fixed Term

The Interest for a fixed term will be credited to your Quantia Account on the date of expiry of the relevant Fixed Term.

Withdrawals

You may make a complete or partial withdrawal of principal from your Quantia Account at any time with appropriate time notice as stated below. Additionally, before a withdrawal is processed, you may be required to provide certain personally identifiable information so Quantia can verify your identity. Quantia initiates the withdrawal process instantly when possible, and we may require up to seven (7) days after you submit your withdrawal request to process the withdrawal, during which time interest will continue to accrue. Any interest that has accrued but not been credited to your account on a month-end basis is not eligible for withdrawal until the fifth business day of the following month.
Withdrawal limits based on frequency and amount may apply from time-to-time.
In the case of any withdrawal, you will be required to provide the details for the account to which you wish to transfer your cryptocurrency. Assets subject to a withdrawal request cannot be traded.
In the event that the details you provide are inaccurate or incomplete, your cryptocurrency may be permanently lost. When you withdraw all or any of your cryptocurrency, we will not be liable for any loss that results from inaccurate, incomplete or misleading details that you may provide for such transfer. If the account you specify is one to which we are unable to process transfers, we will have no liability for any failure or delay in processing your requested withdrawal.
Quantia may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of transfers and withdrawals of cryptocurrency either temporarily or permanently. Quantia is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transfers or withdrawals.
Additionally, from time to time there may be withdrawal minimums at Quantia’s third party custodians which may limit your ability to withdraw un-tradable fractions or other small amounts of cryptocurrency without first increasing the amount in your Quantia Account.

Utilization of assets

Except where prohibited or limited by applicable law, Quantia has the right, without further notice to you, to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer, invest or use any amount of such cryptocurrency, separately or together with other property, with all attendant rights of ownership, and for any period of time and without retaining in Quantia’s possession and/or control a like amount of cryptocurrency, and to use or invest such cryptocurrency at its own risk.

General Rules

All of our actions relating to your account, will be governed by the laws and regulations of Uruguay. If any part of these Staking Product General Terms is determined to be invalid or unenforceable, such determination will not affect the remainder of these Staking Product General Terms.
We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.
All transfers to your Quantia account must consist of eligible cryptocurrency and must be transferred to the wallet address provided in your Quantia account application, unless we notify you otherwise. We have the right to reject any transfer and the right to return cryptocurrency already transferred into your Quantia account. If you attempt to transfer assets to an unsupported wallet or using an unsupported network, or if you attempt to transfer assets other than eligible cryptocurrency (including any unsupported digital assets) to your Quantia account, such assets may be permanently lost, and we will have no liability for any such loss.
These Staking Product General Terms and the relationship created hereby do not create a fiduciary relationship between us.
We may follow instructions regarding your Staking Product if we reasonably believe that you have authorized the instructions.
We will make statements for your Quantia account available to you by email and/or online at quantia.io. All of your accounts and (in our discretion) those of any of your affiliates may be combined into one statement.
We will make available to you a periodic statement showing the activity on your account and containing information sufficient to allow you to reasonably identify transactions. You must examine the statement and notify us of any unauthorized use or any error or irregularity on the statement within 30 calendar days after the statement is sent or made available to you. If notice is not received within the 30-calendar day period, then we will have no liability to you and any losses will be entirely yours.
Staking Products are not transferable or assignable to another person in whole or in part.
Quantia is required by law to turn over the funds in abandoned or unclaimed customer accounts to the state of your last known residence You must promptly notify us of any change in your residential mailing or email address.
We may record and monitor our telephone conversations with you and your electronic communications with us (chat, e-mail and other forms of electronic exchange). Unless the law requires otherwise, you consent in advance to such recording and monitoring and we do not need to remind you of these activities.
For purposes of these Staking Product General Terms, our business days are Monday through Friday.
We reserve the right to limit access to your accounts, which can include temporarily or permanently removing your online access, restricting your account and/or closing your accounts without prior notice to you unless prior notice is required by law. We do not bear liability for such actions. In addition, Quantia reserves the right to withhold or delay the withdrawal of funds or assets belonging to you if you fail to comply with these Staking Product General Terms.

Indemnification and Limitation of Liability; Attorney’s Fees and Costs for Lawsuits

You will indemnify and hold us and our affiliates harmless from any losses, damages, suits and expenses, of whatever kind, including reasonable attorneys’ fees, which we may incur in connection with or arising out of your use of your Quantia Account or our activities in connection with such account, your violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by your agent, representative or third-party service provider while using your Quantia account, regardless of whether the specific use was expressly authorized by you.
We are not liable to you for claims, costs, losses or damages caused by an event that is beyond our reasonable control (e.g., the acts or omissions of third parties, natural disaster, emergency conditions, disease epidemics/pandemics such as Covid-19, government action, equipment or communications malfunction).
We are not liable for special, incidental, exemplary, punitive or consequential losses or damages of any kind.

Risk Disclosure

Your Staking Product is not a checking or savings account, and it is not covered by insurance against losses. We will pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use funds and cryptocurrency assets to counterparties, and such cryptocurrency assets will be exposed to various risks as a result of such transactions. In certain jurisdictions, cryptocurrency is not legal tender, and is not backed by the government. Your Staking Product is not registered with any federal or state securities regulatory authority. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency.
Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. If you attempt to transfer assets to an unsupported wallet or using an unsupported network, or if you attempt to transfer assets other than eligible cryptocurrency (including any unsupported digital assets) to your Quantia Account, such assets may be permanently lost. We assume no liability, obligation or responsibility whatsoever with respect to any unsupported digital asset or any asset that is transferred using an unsupported network or to an unsupported wallet. Some cryptocurrency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction. The value of cryptocurrency may be derived from the continued willingness of market participants to exchange government-issued currency for cryptocurrency, which may result in the potential for permanent and total loss of value of a particular cryptocurrency should the market for that cryptocurrency disappear.
There is no assurance that a person who accepts a cryptocurrency as payment today will continue to do so in the future. The volatility and unpredictability of the price of cryptocurrency relative to government-issued currency may result in significant loss over a short period of time. The nature of cryptocurrency may lead to an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganizations. The nature of cryptocurrency means that any technological difficulties experienced by Quantia may prevent the access or use of a customer’s cryptocurrency. Any bond or trust account maintained by Quantia for the benefit of its customers may not be sufficient to cover all losses incurred by customers. In light of these risks, you should carefully consider whether holding cryptocurrency in a Quantia account is suitable.

Conflict/Disputes Involving Your Account

We are not liable to you for errors that do not result in financial loss to you. We may take any action authorized or permitted by these Staking Product General Terms without being liable to you, even if such action causes you to incur fees, expenses or damages.
If third parties make claims on your account, or if we receive conflicting instructions from authorized signers, or if we become involved in or concerned about a dispute between you and an authorized signer, we have discretion to act in ways we believe to be appropriate, including by closing your Quantia Account and returning the cryptocurrency in such account. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge them to your Quantia Account.
Fraudulent activity, including any attempt to withdraw funds that you do not own, did not transfer into your Quantia Account, or did not purchase, is strictly prohibited and may result in the closure of your Quantia Account. Fraudulent activity includes any attempt to take advantage of errors on the Quantia Website, systems, applications, or technology platforms.

Legal Process Affecting Accounts

If legal action such as an attachment, garnishment, seizure, liquidation, levy or other state or federal legal process (“legal process”) is brought against your Quantia Account, we may refuse to permit (or may limit) withdrawals or transfers from your account until the legal process is satisfied or dismissed. Regardless of the terms of such attachment, garnishment, levy or other state or federal process, we have first claim to any and all funds in your account.
We will not contest on your behalf any such legal process and may take action to comply with such legal process as we determine to be appropriate in the circumstances without liability to you. If we incur any expenses, including without limitation, reasonable attorney fees, in connection with any such legal process, we may charge any expenses and fees to your account or any other account you may have with us without prior notice to you, or we may bill you directly for such expenses and fees. Any garnishment, seizure, liquidation, or other levy against your account is subject to our right of setoff and security interest.

Waiver

We may delay or waive any rights we have under these Staking Product General Terms. If we delay or waive our rights, you are still obligated to pay us fees and other amounts you may owe us under these Staking Product General Terms. Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our future rights in any way.

Closing an Account

We have the right to close your Quantia Account at any time for any reason without advance notice. If your account has a balance when we close it, and you provide a valid wallet address to us, we will return the remaining crypto assets to that address, unless prohibited by applicable law. Subject to the following sentence, if we close your Quantia Account, we will pay you the accrued interest earned up to the closing date. However, if we close your Quantia Account because you have breached these Staking Product General Terms or the terms of any other agreement between you and us, you will not be entitled to any unpaid interest that may have otherwise accrued. We will cooperate with any regulatory or governmental entity’s instructions or requests with regard to your Quantia Account, including freezing it and seizing its assets if mandated.

Account Errors or Questions

Our platform allows you to review your Quantia Account and conduct certain other transactions online. You must maintain adequate security and control of any and all IDs, passwords, hints, or any other codes that you use to access your Quantia Account.
Any loss or compromise of the foregoing information or your personal information may result in unauthorized access to your Quantia Account. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information. You accept all risks of unauthorized access and use of your Quantia Account.
Tell us promptly if you believe that an electronic transfer has been made without your permission. If your statement shows transfers that you did not make, tell us immediately by contacting us: support@quantia.io
Please submit a support ticket as soon as you can, if you think your statement is wrong or if you need more information about an item listed on the statement. We must hear from you no later than thirty (30) days after we send you or make available to you the first statement on which the problem or error appeared.
If you tell us orally or via electronic means, we may require that you send us your complaint or question in writing, and we may request additional information within ten (10) business days. We will endeavor to determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. For errors involving new accounts, we may take up to ninety (90) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount of the error, so that you will have the use of the funds during the time it takes us to complete our investigation. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error.
If we ask you to put your complaint or question in writing, or request additional information, and do not receive it within ten (10) business days, we may not credit your account. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

QUANTIA TRADING SAS IS AN ENTITY INCORPORATED IN URUGUAY THAT OPERATES EXCLUSIVELY WITH CRYPTOCURRENCIES AND DOES NOT CARRY OUT TRANSACTIONS OF ANY KIND WITH FIAT CURRENCIES ISSUED BY CENTRAL BANKS. CRYPTOCURRENCIES HAVE HIGH VOLATILITY. USERS FULLY ASSUME THE RISK INVOLVED IN TRANSACTING WITH SUCH ASSETS. QUANTIA DOES NOT PROVIDE ANY FINANCIAL, LEGAL OR TAX ADVICE, NOR SHOULD THIS WEBSITE BE VIEWED AS AN OFFER OR INDUCEMENT TO MAKE ANY FINANCIAL DECISIONS.