Terms and Condition
DeBio Staking Terms & Conditions.
These terms are pending legal review. Use at your own risk.
These (“Staking”) Agreement govern the legal relationship between DAOGenics Ltd. (“DeBio'') and you (“User”). This Agreement shall be used for Staking DBIO token (“DBIO”) for the purpose of Request Services and gaining Staking Rewards (as defined below). This Agreement governs User use and access of the website accessible at https://app.mainnet.debio.nework/ and https://lab.mainnet.debio.nework/ (“DeBio Application”) and any of Debio’s associated web applications, decentralized applications, smart contracts, APIs as further described below.
This is the first iteration of the DeBio Agreement. We value your feedback and proposals related to any governance issues. These Terms may be amended, changed, or updated by DeBio at any time and without prior notice to you. You should check back often to confirm that your copy and understanding of these Terms is current and correct. Your non-termination or continued use of any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of These Terms, as modified by such amendments, changes, or updates. If you come up with any further questions, please feel free to contact us at [email protected]
These Terms used in this Agreement with their initial letters capitalized have the meanings ascribed to them in this section or where they are elsewhere defined in this Agreement. Any term defined in the singular will have the corresponding definition in the plural (and vice versa). As used in this Agreement:
- 1.“Agreement” means these Terms of Service and all Attachments.
- 2.“DeBio '' refers to all parties that run DAOGenics, Ltd. that provide DeBio Services.
- 3.“User” refers to the party that uses the Request Services to gain Staking Rewards.
- 4."DeBio Application" refers to application managed and maintained by DAOGenics, Ltd. in connection with Medical and Bioinformatics Services provided by Third-Party.
- 5.“Staking” means use of the Service by the User to gain Staking Rewards.
- 6.“DBIO” means the underlying digital asset of the DeBio Network.
- 7.“Network” means any blockchain network for which our Platform is able to perform the Service.
- 8.“Request Services” refers to a feature that allows User to request genetic and/or biomedical testing services from nearby labs. In this case, the User (Customer) wants to do a test but cannot find any labs in their area that provide the specific test. User (Customer) will perform ‘Request Service’ by staking their DBIO token until there’s a lab that responds to the User request.
- 9.“Staking Rewards'' means DBIO token distributed by DeBio via Network.
- 1.During the Term (as Defined below) DeBio will provide the following:
- Request Services will be operated in a diligent and professional manner and in accordance with applicable industry standards.
- Reasonable security safeguards will be employed by DeBio to protect the integrity and availability of Request Services.
- 2.During the Term (as Defined below) User shall provide the following:
- Stake DBIO token to Request Services if there is no lab available in the User's area. This procedure will run on the Network in a decentralized manner. The transaction weight for Staking will be borne by the User.
- DBIO token will be staked in Request Services Network escrow until there is a lab that provides testing service requested by User. User can proceed to collection sample process submission when the testing service is available (depending on staking amount and Service fee provided by the lab).
- User can unstake or withdraw staked DBIO token at User discretion. The Staked DBIO token will be returned to the User wallet or account from which the DBIO token were Staked in 6 days/144 hours since unstake or withdraw action was proceed.
- User can unstake or withdraw staked DBIO token with one exception. If User decides to proceed to do the Request Test after the service is available from Request Service, then the Staked DBIO token can’t be unstaked or withdrawn because the Staked DBIO token will be used as payment purpose for continuing to the Request Test services.
- In order to proceed to Request Test, User will need to pay or receive an “amount of fee” depending on the calculation of Service fee given by the lab subtracted by User’s Staked amount. In further terms the “amount of fee” stated above will still be called Staked amount.
- If the Request Test is successful (meaning that User has completed to do the step above, submit the collection sample to the lab, and the lab has provided the test’s result for User), the Staked DBIO token will be received by the lab as a settlement for providing testing services. If the User’s collection sample do not meet the requirement from lab biological perspective (sample rejected or failed), the Staked DBIO token will be returned (after subtracted by an amount of fee needed by lab to do some quality control on the sample) to the User wallet or account from which the DBIO token were Staked.
- User will receive DBIO token staking rewards after the Request Test is successful and User gets the test result. If sample collection is rejected or failed, User is still rewarded because User participates to bring the lab into the requested location by Request Services.
- The sample management of the User is hereby under the authority of the Laboratory and its services, under the jurisdiction of the Agreement between the User and the Laboratory. The User hereby declares that they fully understand the sample management, sample collection, sample storage, and the data report produced must be in accordance with the Agreement by the selected Laboratory. DeBio may not be liable for the sample managements, sample collections, sample storages, and data reports produced by the selected Laboratory.
- User IS RESPONSIBLE FOR MAINTAINING THE SECURITY OF THEIR ACCOUNTS AND KEYS AT ALL TIMES. DeBio WILL NEVER ASK FOR PRIVATE KEYS IN ANY CIRCUMSTANCE. DeBio WILL NOT HOLD User PRIVATE KEYS, AND WILL NOT ACT AS A CUSTODIAN OF User FUNDS. User is expected to have knowledge of blockchain technology, staking, accounts, keys, and details of the Supported Network and Supported Network Protocol. They are further expected to have conducted their own thorough investigation of DeBio Network, DBIO token, and other matters considered in this Agreement in determining to Stake token with Service.
- User is expected to have knowledge of blockchain technology, staking, accounts, keys, and details of the Supported Network and Supported Network Protocol. They are further expected to have conducted their own thorough investigation of DeBio Network, DBIO token, and other matters considered in this Agreement in determining to Stake token with Service.
III. Service Level Agreement
- 1.Payment of Staking Rewards – User will receive Staking Rewards in the form of DBIO token. The Staking Rewards percentage is determined based on the DeBio.
- 2.Transfers of Staking Rewards – Any transfer of DBIO token Staking Rewards timing will be subject to DeBio and Network Protocol. Staking Rewards payments will be made by the Network to the wallet or account from which the token were Staked.
- 3.DeBio will not accept, take control of, or custody any Staking Rewards on behalf of the User.
- 4.Service Level Agreement – DeBio agrees to compensate User for missed Staking Rewards to the extent arising from the availability of Request Service. This does not include missed Staking Rewards arising from User acts or omissions, Network maintenance, software bugs native to Network, acts by a hacker or other malicious actor, Force Majeure Events, or any other action outside of DeBio’s control.
- 5.In connection with your use of the DeBio Application, you agree to bear all costs necessary to conduct a transaction, such as “transaction weight” cost on the Substrate network and "gas fee" cost on the Ethereum network, for the computational resources required to perform a transaction on the particular blockchain. We will try to provide you with the accurate estimates of these charges for your information, but this information is highly volatile and can change quickly and we cannot and do not guarantee the accuracy, stability, availability of this information. You specifically acknowledge and agree that the DeBio has no control over: (a) any Substrate blockchain transactions; (b) any Ethereum blockchain transactions; (c) the calculation or method of payment of any transaction weight / gas fee charges; or (d) any actual payments of gas charges. You must ensure that you have a sufficient balance of DBIO stored at your Substrate address and or Ether stored at your Ethereum Address to complete any transaction on the Substrate or Ethereum blockchain before initiating blockchain transaction.
- 6.When setting up a Wallet within DeBio Network, you will be responsible for keeping your own account secrets, which may be a twelve-word seed phrase, an account file, or other locally stored secret information. DeBio Network encrypts the information locally with a password you provide, that we never send to our servers. The private key is connected to the Wallet address and, together, they can be used to authorize the transfer of Virtual Currency to and from that Wallet address. You are solely responsible for maintaining the security of your private key and any mnemonic (backup) phrase associated with your Wallet. You must keep your Wallet address, mnemonic (backup) phrase, and private key access information secure. Failure to do so may result in the loss of control of Virtual Currency associated with the Wallet. DeBio Network stores your Wallet address but does not receive or store your Wallet password, encrypted private key, unencrypted private key, or mnemonic (backup) phrase associated with your Wallet. We cannot, therefore, assist you with Wallet password retrieval. We cannot generate a new password for your Wallet if you fail to remember your original password. If you have not safely stored a backup of any Wallet address and private key pairs maintained in your Wallet, you accept and acknowledge that any Virtual Currency you have associated with such a Wallet address will become inaccessible if you do not have your Wallet password.
- 1.User shall be responsible for payment of all taxes, fees and surcharges, however designated, imposed on or based upon the use of the Services and Staking Rewards obtained by the use of Services.
- 2.DeBio does not provide any advice or guidance with respect to the tax obligations of the User. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of entering into this Agreement and the receipt of any Staking Rewards.
V. Discontinuation of DeBio Application
DeBio reserves the right to discontinue DeBio Application at any time for any or no reason. If DeBio decides to discontinue DeBio Application, we will publically announce our intention to do so providing a minimum of 30 days notice using public channels including our website, blog, and telegram group.
VI. Intellectual Property
All right, title, and interest in and to the Platform and the Website, including all modifications, improvements, adaptations, enhancements, or translations made thereto, and all proprietary rights therein, shall be and remain DeBio’s sole and exclusive property.
VII. Compliance with Laws
- 1.Each party will comply with all federal, state and local laws and regulations applicable to it (“Laws”), and will only enter into this agreement insofar as the activity is in compliance with all applicable Laws. If during the term of this Agreement any Law becomes effective that substantially and materially alters the ability or cost of either party to perform its obligations under this Agreement in whole or part, the party that would bear the altered cost due to the change in the Law should terminate this Agreement and cease using Service.
- 2.To the extent that any governmental agency or regulatory body in any country takes any action which prevents, restricts, or otherwise limits DeBio’s ability to provide any portion of the Request Services to User, DeBio shall have no liability in connection with the provision of, or failure to provide services to User, and DeBio may, at its option, (a) make a reasonable effort to relocate the services to another location, or (b) terminate the applicable services immediately and without penalty.
- 3.Any service on the DeBio platform is provided for research, informational, and educational use only. We do not provide medical or diagnostic advice. You should always seek the advice of your physician or other health care provider with any questions you may have regarding diagnosis, cure, treatment, mitigation, or prevention of any disease or other medical condition or impairment or the status of your health.
- 1.User understand and agree that DeBio are software developers and providers of software services and do not custody, control or manage user funds in any manner.
- 2.The DeBio Application enables access to an online, decentralized and autonomous protocol and environment, and associated decentralized networks, that are not controlled by DeBio.
- 3.DeBio and DeBio Application do not have access to User’s private key and cannot initiate, access and transfer cryptocurrency in the User account or wallet.
- 4.DeBio is not responsible for any activities that User engages in when User is using wallet or the DeBio Application.