Whereas Party B entrusts Party A to establish and maintain nodes and is entitled to the Masternode Hosting service, the two parties reach the Agreement based on mutual benefits and friendly cooperation and solemnly declare their joint compliance with the following terms and conditions:
Unless otherwise defined in the context, the terms below are defined as follows:
1.1 The Agreement: means any articles, details and information in this CITEX Agreement on Masternode Hosting and all attachments.
1.2 Party A refers to the CITEX platform, which is a global leading digital asset trade platform with an aim to develop high-quality assets and circulate and create values.
1.3 Party B refers to the registered user (the pledger) of the “CITEX platform”. Party B entrusts the CITEX platform to provide the masternode hosting service.
1.4 Expected ROI : refers to the maximum annual rate of return based on the statistics of previous periodic return levels.
2.Rules of Staking Node Reward
2.1 Income on staking nodes will be calculated from the next day of staking.
2.2 Valid Staking: Assets Staking before 0:00 on a day cannot be redeemed before 24:00 on the same day. Only valid staking assets are entitled to reward and income.
2.3 Calculation of rewards and returns:
Pledger’s daily returns = Daily returns of each node * Pledger’s node quantity;
Pledger’s dividends = Sum of pledger’s daily returns within the reward period.
2.4 Statement and calculation of node returns will be carried out on every Monday (interim) with the distribution of rewards for the current period. After reward distribution, the pledger may view the corresponding reward record in “My Reward Record” and the daily returns in “My Income Record”.
2.5 The establishment of each node for each coin requires the staking of a specified quantity of that coin and the payment of a specified amount of server rent (USDT). Server rent = (Number of server rental days / 30 days) * Monthly server rent * Pledger’s node quantity.
2.6 Expected ROI = (Average daily amount of returns from individual nodes for the previous rewards / Staking amount of individual nodes) * 365 days * 100%; note: CITEX distributes rewards by all (100%) actual node returns.
2.7 Assets staking on a day cannot be redeemed on the same day but may be redeemed anytime from the next day onwards. Redeemed assets are not entitled to returns on the day of redemption; the server rent paid at staking will not be returned after redemption.
2.8 Each coin can be redeemed a maximum of two times within 24 hours. Currently the transfer of redeemed funds into account requires 24 hours upon redemption. Redemption of a node will occur automatically upon the expiration of the server rental period, which requires 24-hour waiting time, too.
- You may view the reward and the transfer of illustration nodes in “Illustration Node Returns”, which serve as reference only;
- The professional operation and maintenance personnel of the CITEX platform will inspect the operation of the node server every 24 hours in maximum efforts to guarantee the proper operation of the server;
- Due to various uncontrollable factors, the node server may have problems of instability or interruption, which will affect your returns. Therefore, your actual returns shall be the rewards credited into your account for each period.
3. Rights and Obligations of Party A
3.1 Party A shall provide Party B with the masternode hosting service and safeguard the legitimate rights and interests of Party B.
3.2 Party B must provide necessary assistance (including without limitation the signature of relevant authorization letters) when Party A provides Party B with the relevant service as aforementioned.
3.3 Party A reserves the right to report or forward the information of Party B’s locked assets on the CITEX platform to related departments, industrial associations or databases in accordance with the requirements of government, industrial associations and other related departments.
3.4 Party A must keep Party A’s information, assets and other service related matters confidential according to laws.
4.Rights and Obligations of Party B
4.1 Party B may apply for the redemption of staking assets anytime within the staking period; redeemed assets will be transferred to the account automatically in 24 hours and each coin can be redeemed a maximum of two times within 24 hours.
4.2 Party B is allowed to redeem from valid staking assets only; assets staking on the day of redemption are not classified as valid staking assets and thus cannot be redeemed.
4.3 Party A will not return Party B the server rent paid at staking when Party B redeems staking assets.
4.4 Party B’s consent with the Agreement shall be deemed as its voluntary acceptance of all the contents as specified in all articles of the Agreement.
4.5 Party B undertakes that all the information it has provided to the CITEX platform is authentic, accurate and complete.
4.6 Party B warrants that all its assets used for staking are self-owned assets from legal sources. Party B shall be responsible for solving any dispute with a third party arising out of the ownership and lawfulness of its assets; any financial losses incurred thereof to Party A shall be borne by Party B.
4.7 Party B confirms and agrees that any written documents or electronic information provided by Party A in respect of the Agreement should constitute a part of the Agreement.
5.Applicable Laws and Jurisdiction
5.1 Applicable laws. All matters of the Agreement, including without limitation the effect, interpretation, performance and dispute resolution of the Agreement shall be governed by relevant laws in the place where the CITEX platform has been registered; in the event of any conflict between any clause of the Agreement and statutory regulations, the clause shall be interpreted and executed to the maximum extent where such statutory regulations do not prohibit, and any such agreement as in conflict with statutory regulations shall be without prejudice to the effect of other clauses of the Agreement.
5.2 Dispute jurisdiction. The parties agree that any dispute should be submitted to the local arbitration commission in the place where the CITEX platform is located, regardless of the amount of the dispute. The arbitration award shall be final and binding on both parties.
5.3 During an arbitration, the clauses of the Agreement not involved in the dispute shall continue to be performed and neither party shall refuse to fulfill any of its obligations under the Agreement on the ground of dispute resolution.
6.1 Party A and Party B may sign the Agreement and related documents through a number of means, including without limitation written signature or seal, click, tick, e-signature and data message. Neither party shall deny the legal effect of the Agreement on the ground of any difference in the way of contract signing.
6.2 The Agreement shall take effect from the signature by both parties or from the consent of Party B and end until Party A and Party B have completed their fulfillment of obligations in accordance with the Agreement. Party B entrusts Party A to keep safe all written documents or electronic information in respect of the Agreement.