The SatoExchange Staking Terms and Policy

We advise that participants in this staking program (members and project owners) should carefully read and understand the following terms as they are concerned.

The terms and conditions are in two sections, where the first section is for participants in the staking program, while the second section is for project owners who want to create staking pools for their tokens.

SECTION 1 (MEMBERS SECTION)

Firstly SatoExchange team is assuring every participant in any staking pool on the exchange that they will get their rewards on the specific pools they are staking on as these rewards are pre-deducted from the project owner's account at the time of the creation of the staking pools on the platform. Therefore, members' rewards for participating in any staking pool is reserved and certain.

Since project owners (be it SatoExchange or others) are responsible for the configuration and creation of staking pools, each staking pool may be different or identical based on how it is created and therefore, members are hereby informed to understand the staking pools they are participating in, in terms of locked period, attributed percentage reward, interval, etc., before staking.

IMPORTANT PARAMETERS TO NOTE

Members are required to look out for the following staking parameters before staking. (It includes but not limited to):

REWARD INTERVAL:

The reward interval is the distance or period of time whereby the reward is earned over and over again for the staking duration. Reward interval could be every minute, hourly, daily, weekly, 2 days, etc.

REWARD PERCENTAGE OR RATE:

This refers to the percentage reward paid out at the reward interval for the staking pool selected by members. This can either be a percentage of the amount staked in the same currency as of the staking pool or even in another currency. If the reward is earned in another currency, It will be stated in a form of an amount of reward per amount staked, for example: 0.01 BTC/10000 SATX means members will get 0.01 BTC for every 10,000 SATX staked in the stipulated reward interval.

MINIMUM STAKING PERIOD:

The minimum staking period is an optional parameter in staking pool creation. It is the period of time a staking must stay so as to get the reward from such staking pool. If members try to take reward before the minimum staking period is completed, the staking will be canceled by such action and the reward won't be paid. For example: If a pool has 10% SATX at an interval of 1 day and has 2 weeks minimum staking period, the member will see the reward of 10% per day, but the member needs to stay a minimum of 2 weeks to take the reward or else the member would cancel the staking without getting the reward.

This is applicable to staking pools with a minimum staking period as some staking do not have a minimum period specified. Then members can withdraw the reward for such staking pools at any time.

LOCKED STAKING:

Locking is applicable to pools having a minimum staking period and again it is optional. Where a staking pool is locked, members can not even decide to cancel the staking to forfeit the reward but have to wait until the minimum period is passed as they will not be able to access both the investment and the reward.

MINIMUM INVESTMENT:

This is the minimum amount of stake any participant can add to a pool. It is the least amount required for a specific pool.

MAXIMUM INVESTMENT:

Refers to the maximum amount members can stake on a specific pool, either single or cumulative staking. In other words, members can have multiple staking created on the same pool but each and even the sum of them all can not exceed the maximum staking specified. 

N.B.: Members willing to stake should ensure they have checked those parameters and are willing to abide by them all.

The SatoExchange support team will not welcome requests that violate these staking terms from any member.

SECTION 2 (PROJECT OWNERS SECTION)

Project owners who would like to create staking pools will have to apply for a Project Owners Account which requires at the moment a 50,000 SATX payment for getting the account type per coin. Once project owners have gotten the Project Owners Account, they will be able to create staking plans for their coins as well as for other popular coins and still give rewards in their own coins as the system allows members to earn rewards in other currencies. For example: where a project owner creates a staking pool for BTC, ETH or SATX while members earn rewards in their coin and vice versa.

Project owners have to understand that the system configuration requires them while creating a pool to provide what the maximum possible staking would be and every other relevant configuration parameters. These will be used to calculate the maximum possible reward members can earn from the pool. This will be pre-deducted from the project owner's account at the time of the creation of the staking pool and therefore, they are required to have it in their balance before creating a pool.

SatoExchange will ensure members will get rewards from the staking plans and this is the reason for the last statement above.

In the case where rewards are not used up in pools created, there would be refunds for the unused reward upon cancelation of the pool. 

Staking pools created by project owners will first be reviewed by an admin and get approval before members can access them and if a pool is unapproved after review, the pre-deducted funds would be immediately refunded.

Tip: To share a direct link to staking pools for your coin share satoexchange.com/YOUR_COIN_SYMBOL. For example https://satoexchange.com/staking/SATX for SATX staking.

N.B.: SatoExchange reserves the right to update any section of this terms and policy page without prior notice to any party.