ETH 2.0 Staking Vault Service Agreement
This "Eth 2.0 Staking Service Agreement" (referred to as "this Agreement") is a supplementary part of the user agreement for TokenPocket Wallet (referred to as "the Platform"). The user agreement and other terms of the Platform continue to apply to all users. Before proceeding with any actions on the Platform, please read and fully understand this Agreement. By continuing to use the Platform or its services in any way, you are deemed to have carefully read, understood, and agreed to this Agreement.
This Agreement may be modified, changed, or updated by the Platform at any time without prior notice to you. You should regularly check to ensure that your copy and understanding of this Agreement are up to date and accurate. After the effective date of any modifications, changes, or updates, if you continue to choose to use any services of this website, it is deemed that you accept the new modified, changed, or updated version of this Agreement.
For the convenience of users, this website provides multiple language versions. In the event of any conflict, omission, or discrepancy, the Chinese version shall prevail.
Special Notice: Virtual currencies involve high risks. Eth 2.0 Staking only provides simplified services for node staking and does not encourage or advocate the purchase of ETH for staking in any form.
Definitions
Ethereum (Eth) is a blockchain network based on Proof-of-Work (PoW). Eth 2.0, also known as Ethereum 2.0, is the Proof-of-Stake (PoS) version of the Ethereum mainnet. It introduces shard technology and consists of different phases, including Phase 0 (Beacon Chain), Phase 1 (Sharding), Phase 2 (Smart Contracts), Phase 3 (Light Client State Storage), and Phase 4 (Sharded Smart Contracts).
Eth 2.0 Staking is the implementation mechanism for Eth Proof-of-Stake. On the Beacon Chain, users can stake 32 ETH as validators. In Phase 0, validators only need to manage the Beacon Chain, while starting from Phase 1, validators will also manage 1024 shard chains. The Beacon Chain and each shard chain will use the Casper FFG algorithm for block production. FFG is a Proof-of-Stake algorithm used to enforce slash penalties (reducing stake) for malicious behavior on the chain. The 32 ETH staked by validators can only be unlocked after entering Phase 2.
Eth 2.0 Staking Pool is a simplified service based on Eth 2.0 Staking. It does not require mandatory staking of 32 ETH and provides liquidity for locked ETH.
Service Fee refers to the platform's service fee, which is 15% of the user's staking rewards and 20% of the blockchain extractable value.
Transaction Fee refers to the fee paid by users to the platform for using the ETH withdrawal function. The current fee is 1%.
Eth 2.0 Staking Pool Rules
Your actions on the platform, including staking, withdrawal, or any use of platform services, are deemed as your careful reading, understanding, and acceptance of the product rules. The Staking Pool service includes self-hosted staking and joint staking, with the following rules:
TokenPocket will deduct a certain percentage of the user's staking rewards as node operation fees. The daily staking rewards received by users are the amount after deducting the node operation fees.
Actual earnings are dependent on the actual staking situation on the Eth 2.0 mainnet.
TokenPocket assumes responsibility for slashes (node penalties) caused by improper operation, but not for slashes caused by Eth 2.0 node client provided by Ethereum or Eth 2.0 contract bugs.
Staking rewards are settled once every epoch (approximately 6.4 minutes).
Supplemental Rules for Self-hosted Staking:
Self-hosted staking follows a dual-key principle. Users hold the "withdrawal key" (to manage funds), while TokenPocket holds only the "validator key." The withdrawal key is created and safeguarded by the user, and if lost or forgotten, it will result in the inability to retrieve the node funds. Users bear the responsibility for this.
Self-hosted staking requires users to provide 32 ETH to generate a node. TokenPocket charges a one-time fee of 0.05 ETH as node maintenance fee. No additional fees will be charged during the continuous operation of the node.
The activation time of a self-hosted staking node is related to the current queue status of staking on the chain.
The effective withdrawal time of a self-hosted staking node is related to the queue status of withdrawal on the chain. Self-hosted staking is not eligible for quick redemption activities.
Supplemental Rules for Joint Staking:
The minimum investment is 0.1 ETH.
Users who stake before 22:00 UTC+8 each day will be recorded as "today's staking" and are expected to start earning rewards from T+1, starting from 22:00 UTC+8 the next day. Users who stake after 22:00 UTC+8 will be recorded as "the next day's staking," starting to earn rewards from 22:00 UTC+8 the day after. The actual earnings time is subject to node activation restrictions, and if there are many nodes in the queue for activation, the earnings time may be postponed (T+1 is used to calculate user rewards, and the specific reward time is related to the node activation time, with earlier staking leading to earlier returns).
Each user can withdraw a minimum of 0.1 ETH and a maximum of 10 ETH per day. After applying for withdrawal, refunds are processed once every 24 hours, and the total amount of ETH that all users can withdraw is determined by the liquidity fund. A certain fee is required for using the withdrawal function. The final amount of ETH received by the user is calculated as the allowed amount of ETH withdrawal minus the withdrawal fee and transfer gas fee.
The platform provides a liquidity fund, which integrates industry resources to provide users with a certain amount of quick redemption functionality. The portion of funds obtained through quick redemption will be attributed to the user, but will no longer earn staking rewards. Only principal redemption is supported, and early redemption of staking rewards is not available. The fee for quick redemption is 1% of the redeemed funds.
Supplemental Note on the Liquidity Fund: The principal of the liquidity fund is periodically launched and follows a first-come, first-served basis.
Dispute Resolution for Staking
Users are responsible for any losses incurred due to lost private keys, mnemonic phrases, passwords, or compromised account private keys, resulting in the inability to withdraw or claim rewards.
If users misunderstand the Eth 2.0 mechanism or misinterpret the product rules due to a lack of understanding or failure to carefully read the agreement, and file appeals for benefits outside the rules, the platform reserves the right to reject the application.
The actual earnings of the product are related to the staking situation on the Eth 2.0 mainnet and the development progress. If there are significant vulnerabilities or development delays in the Eth 2.0 mainnet, it may result in user asset losses, which users bear on their own.
Disclaimer and Liability Exemption
The platform only provides Eth 2.0 node operation services. You fully understand the risks and flaws that may exist in Eth 2.0 and Eth 2.0 Staking mechanisms. The platform guarantees node staking income through stable node operation services to the extent possible. Given the longer development cycle required for Eth 2.0, there may be various risks. You should exercise caution and judgment.
Due to the unique characteristics of digital assets, digital asset prices are highly volatile, with relatively limited use in retail and commercial markets. Digital asset trading carries extremely high risks. Trading occurs 24/7 without price limits, making prices susceptible to environmental and global policy influences, leading to significant fluctuations. Therefore, digital asset price changes may result in investment losses, for which users bear the responsibility. We do not recommend or advocate purchasing digital assets, and we especially do not encourage using ETH for staking.
It is prohibited to engage in any illegal trading activities or illegal activities such as money laundering, smuggling, and commercial bribery on this platform. If any suspected illegal transactions or illegal activities are discovered, this website reserves the right to take various measures, including but not limited to freezing accounts and notifying relevant authorities. We do not bear any responsibility for any consequences arising from such activities and reserve the right to hold relevant individuals accountable.
If your actions cause losses to the platform (including direct economic losses, reputational losses, and indirect economic losses such as compensation payments, settlement fees, attorney fees, litigation costs, etc.), you shall compensate the platform for all the aforementioned losses. If your actions result in the platform being claimed against by a third party, after fulfilling the obligations of money payment to the third party, the platform has the right to recover all losses from you.
Digital asset trading carries extremely high risks and is not suitable for most individuals. You understand and acknowledge that this investment may result in partial or total losses, and you should decide on the investment amount based on the level of loss you can afford. You understand and acknowledge that digital assets carry derivative risks. If you have any questions, it is recommended to seek assistance from financial advisors. In addition to the mentioned risks, there may be unforeseen risks. If you do not fall within the scope of users served by this platform, please do not participate in the services provided by this platform. You bear all responsibility for the consequences resulting from your personal participation in the platform's services. You should carefully consider and evaluate your financial status and the aforementioned risks with clear judgment before making any decisions to buy or sell digital assets, and you bear all losses arising from such decisions. The platform does not assume any responsibility.
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