updated: 16 September 2022
1.1 By Subscribing to a Staking Program with Binance you acknowledge that you have read, understood and accepted all of the terms and conditions in these Staking Terms, and you acknowledge and agree that you will be bound by and comply with these Staking Terms. If you do not understand and accept these Staking Terms in their entirety, you will be unable to participate.
1.2 Staking Programs are not a financial product within the meaning of the Corporations Act and does not involve the provision of any financial services in respect of financial products.
2.1 When you Subscribe to a Staking Program, you will be prompted to agree with some or all of the following terms on the Platform:
the Staking Duration;
the Applicable Network;
the Staked Assets;
the Variable Staking Rate;
the Reward Calculation Frequency;
the requirements in order to Early Redeem; and
the Reward Currency.
Binance may specify:
minimum amounts of Staked Assets that are required to Subscribe to a Staking Program; and/or
any Subscription Limits.
3.1 When you Subscribe to a Staking Programs, you consent to:
Binance or a Binance Affiliate staking your Staked Assets, in whole or in part;
Binance or the Binance Affiliate acting as a validator on an Applicable Network; and
delegating any voting rights to Binance, or Binance Affiliate, that are attached to your Staked Assets.
3.2 Staked Assets will be returned to your Spot Account 2 days after Settlement Date, unless you have elected to Auto-Stake. If you Early Redeem, your Staked Digital Assets are returned to your Spot Account within 72 hours.
3.3 The time between the Settlement Date and when your Staked Assets are returned to your Spot Account do not form part of the Staking Duration. You do not earn Staking Rewards during this time.
Binance will use commercially reasonable efforts to ensure that your Digital Assets will not be exposed to Slashing Risk. In the event that a Slashing Risk eventuates, Binance will replace your Digital Assets, except where the Slashing Risk arises is as a result of:
your acts or omissions;
any supported protocol maintenance, bugs, or errors;
acts by a hacker or other malicious actor; or
force majeure events.
4.2 Other than Binance’s obligation to replace Digital Assets in accordance with clause 4.1, nothing in this part should be construed as amending or altering the liability, of either you or Binance, from what is agreed in the Terms of Use.
5.1 Staking Rewards:
subject to clause 7, start accruing from the day after you Subscribe. You do not earn any Staking Rewards for the first day that you Subscribe;
will be distributed to your Spot Account the day after each Reward Calculation Day, between 0:00 UTC to 08:00 UTC. This means that if The Reward Frequency Calculation is conducted daily, Staking Rewards will not be distributed to your Spot Account until the third day after you Subscribe;
may be calculated by reference to a Variable Staking Rate;
is applied each day to Staked Assets only, and not to any Staking Rewards;
is distributed in the same digital currency as your Staked Assets, unless otherwise stated; and
are sourced from Binance’s own Digital Assets, and not from any On-Chain Rewards.
5.2 Binance retains all On-Chain Rewards. This amount may be different from Staking Rewards. The distribution of Staking Rewards to you is an independent a contractual obligation obligation Binance has towards you.
6.1 The Variable Staking Rate is published on the Website and may change from time to time.
6.2 Binance does not guarantee that you will receive Staking Rewards at the Variable Staking Rate shown at the time you Subscribe. Any representation concerning possible return at the time you Subscribe (i) is an estimate only and not guaranteed, (ii) are based on the Variable Staking Rate, which may change, and (iii) may be more or less than the On-Chain Rewards.
6.3 Staking Rewards, and all related calculations, are rounded down to 8 decimal places.
7.1 You may elect to automatically Subscribe into a new Staking Program at Settlement Date using the Staked Assets and Staking Rewards from the preceding Staking Program (Auto-Stake).
7.2 The new Staking Program will have the same Staking Duration, Applicable Network, Reward Calculation Frequency and Reward Currency as the preceding Staking Program. The Variable Staking Rate may change.
7.3 Staking Rewards begin to accrue from the day that you Auto-Stake.
7.4 You can amend your Auto-Stake Instructions at any time up until UTC 0:00 on the Settlement Date of the preceding Staking Program.
7.5 Binance reserves the right not to act on your instructions to Auto-Stake. It may refuse to act on these instructions for any reason, including but not limited to, that the Subscription Limit for a Staking Program has been reached.
8.1 Binance may, in its sole discretion, permit you to Early Redeem. Your right to Early Redeem may be withdrawn at any time.
8.2 If you Early Redeem your Staked Assets before the Settlement Date, you:
are not entitled to any Staking Reward; and
authorise Binance to deduct all related Staking Rewards arising from your Spot Account or from your Staked Assets.
8.3 Binance may, in its sole discretion, stake 5% of the Staking Rewards that would have been earned had you not made a request to Early Redeem, on your behalf, on the following terms:
the Staking Duration is ninety (90) days;
Staked Assets cannot be Early Redeemed; and
Staking Rewards will be in the same Reward Currency that would have been earned had you not Early Redeemed.
8.4 Should you Early Redeem, it may take up to 72 hours before Staked Assets will be returned to your Spot Account.
9.1 Binance may require information from you at any time for the purposes of complying with any Applicable Law, identity verification requirements, or in connection with the detection of money laundering, terrorist financing, fraud, or any other financial crime, or for any other valid reason. We may also to provide information, or take steps, that we reasonably request to ensure that the information you have provided is true and correct.
9.2 You agree to provide us with any such information we request.
10.1 Binance may stop, suspend or cancel your access to your Spot Account, impose limits to your Spot Account, or your suspend or cancel your ability to participate in Staking, or delay certain transactions where:
you do not provide additional information to verify your identity or source of funds as requested by Binance;
Binance is required to do so by court order, to comply with any Applicable Laws (including anti-money laundering or sanctions laws);
Binance is required to do so to comply with any direction or instruction from a government body or agency;
Binance reasonably determines that any information you have provided to Binance is wrong, untruthful, outdated or incomplete;
you do not provide additional information that we request to our reasonable satisfaction or in a timely manner; or
you do not comply with clause 11.4.
11.1 You can use the Chat Service at any time in connection with your use of your Spot Account. By using the Chat Service, you may interact with a bot, chatbot, or other non-human. Binance will disclose the use of a chatbot, or other non-human, to the extent required by Applicable Law. When engaging with Binance through use of the Chat Service, you acknowledge and agree that Binance may monitor and save your chats.
11.2 The Chat Service is provided as a convenience, often to facilitate your understanding of Binance's services. Binance uses all reasonable efforts to provide you with accurate and current information based your question. Nothing communicated to you through the Chat Service will be considered a legal agreement, representation or warranty as to the Binance services, processes, decisions, or response times. Any personal information shared with us when using the Chat Service will be subject to the applicable privacy-related policies and notices described in our Privacy Policy.
11.3 You may also use the User Chat service, which allows you to interact directly with other Binance Platform users.
11.4 You must not use the Chat Service or User Chat to post or otherwise distribute, on or through the service or chat:
any information that would be in breach of another person's intellectual property rights;
any content which we consider (in our sole discretion) to be defamatory, obscene, harassing, threatening or which includes any unlawful material or information;
any information that are otherwise in contravention of any Applicable Laws;
any information which we consider (in our sole discretion) is intended to manipulate a market or to spread false or misleading information or messages.
11.5 If you do not comply with clause 11.4, we may take the steps described in clause 10.
11.6 You must not use the Chat Service or any User Chat to send any abusive, defamatory, dishonest, or obscene message or any messages intended to manipulate a market or to spread false or misleading information or messages that are otherwise in contravention of Applicable Laws, and doing so may result in termination of the Chat Service session and may lead to restrictions on the availability of Binance Services to you.
12.1 You will be able to view your Spot Account history on the Binance Platform. You must review your account history carefully and let Binance know if you see any entries or transactions that you do not recognise or you think are incorrect as soon as possible, and within 14 days after the date that your account history is provided or made available to you.
12.2 We may rectify any error in your account history at any time, and reserve the right to void or reverse any transaction:
involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of Binance or any third party) which is manifest or palpable, including a misquote by any representative of Binance taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or
to reflect what we reasonably consider to be the correct or fair details of the transaction.
12.3 We may be required under Applicable Law to share information about your Spot Account with third parties. You acknowledge and agree that we are entitled to disclose such information.
13.1 You acknowledge that Binance is a member of a group of companies which is involved in activities connected with Digital Assets.
13.2 You acknowledge and agree that:
we may appoint one or more market makers (which may include Binance Affiliates acting in such capacity) to provide liquidity on the Binance Platform, and any such market maker may enter into any transaction with you as your counterparty;
market makers may also maintain positions in various Digital Assets as part of their market making activities, including positions in Digital Assets that are contrary to your positions; and
such market making activities may be done by way of algorithmic trading.
13.3 Such market making activity can have an impact on the price of Digital Assets and the liquidity at levels necessary to execute a transaction. We will not deliberately carry out market making activity with the intention of harming your interests and will endeavour to minimise any market impact. We may realise a profit, or equally, a loss, in connection with market making activity.
13.4 You acknowledge and agree that neither your relationship with Binance, nor any service Binance provides to you, nor any other matter, will give rise to any fiduciary or equitable duties on our part, or the part of any Binance or any Binance Affiliate. In particular, Binance and any Binance Affiliate may from time to time act in more than one capacity (for example, as both market maker and broker and/or as principal and agent), and in those capacities Binance may receive fees or commissions from more than one user (including you). You agree that Binance may act in such capacities and provide any other Binance Services or carry out any business with or for you, any Binance Affiliate or any other user.
13.5 You understand and agree that neither Binance nor any Binance Affiliate will be required to:
have regard to any information known to us, or to any Binance Affiliate, which is a material interest;
disclose any such information to you; or
use any such information for your benefit.
You further acknowledge that from time to time Binance may receive general market information in the course of providing Binance Services to you, which Binance may use in the ordinary course of its business.
13.6 Binance has established and maintains effective organisational and administrative arrangements with a view to taking all appropriate steps to identify and manage conflicts of interest between Binance and our users and relevant third parties, so as to prevent conflicts of interest from adversely affecting the interests of Binance users. In cases where such organisational and administrative arrangements are not sufficient to ensure that the risks of damage to your interests will be prevented, Binance will inform you of the nature and/or sources of the relevant conflicts of interest and the steps taken to mitigate those risks in order to allow you to make an informed decision as to whether to continue to transact with us. Binance reserves the right at all times to decline to act for you where Binance is not able to manage a conflict of interest in any other way.
14.1 Staking Programs are only available in connection with Eligible Digital Assets, which may change from time to time. A list of the Eligible Digital Assets is published on https://www.binance.com/en. Binance may remove or suspend one or more Digital Assets from the list of Eligible Digital Assets at any time, and will update the list of Eligible Digital Assets on https://www.binance.com/en, meaning that you will no longer be able to Subscribe using such Digital Assets as part of Binance Staking. We may do so with immediate effect and without reason.
14.2 We assume no responsibility or liability in connection with any attempt to use your Binance Account for Digital Assets that we do not support.
14.3 If a Digital Asset is no longer an Eligible Digital Asset, you will not be able to Subscribe to any Staking Program where that Digital Asset is a Staked Asset or is distributed to you as a Staking Reward. Any open Staking Programs will be closed, and any accrued Staking Rewards may not be distributed.
15.1 You hereby represent and warrant to Binance, at all times, the following:
all documents and information you provide to us are true, accurate, complete, and up to date in all respects, and may be relied upon by Binance in determining whether or not you are eligible to access the Binance Platform or to use Staking;
all decisions made in connection with these Staking Terms were solely and exclusively based on your own judgement and after your own independent appraisal of your financial resources, ability and willingness to take relevant risks and financial objectives;
you have full power, authority, and capacity to:
i) access and use Staking, the Binance Platform and/or the Binance services; and
ii) enter into and deliver, and perform your obligations under Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms;
if you are a corporation, partner in a partnership, or trustee of a trust:
i) the corporation, partnership or trust has and will be operated in a way that is compliant with Applicable Law;
ii) you will notify Binance immediately if there is any change, by way of resignation, removal, appointment or death, of any of the directors, partners, trustees, settlor(s) or ultimate beneficial owners or any person authorised to operate your Binance Account;
iii) you will inform us immediately if the corporation, partnership, or trust is dissolved either on a voluntary or involuntary basis; and
iv) you have taken all corporate action that is necessary or desirable to authorise its entry into these Staking Terms;
all consents, permissions, authorisations, approvals and agreements of third parties and all authorisations, approvals, permissions, consents, registrations, declarations, filings with any Regulatory Authority, governmental department, commission, agency or other organisation having jurisdiction over you (each a ‘Material Authorisation’) which are necessary or desirable for you to obtain in order to:
i) access and use the Binance Platform and/or the Binance services; and
ii) enter into and deliver, and perform the transactions contemplated under these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms, have been unconditionally obtained in writing, disclosed to us in writing, and have not been withdrawn or amended;
these Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms constitute valid and legally binding obligations, enforceable against you in accordance with their respective terms;
your payment obligations under this document rank at least equally with all its other unsecured and unsubordinated payment obligations (whether present or future, actual or contingent), other than obligations that are mandatorily preferred by law;
no litigation, arbitration, mediation, conciliation or administrative proceedings are taking place, pending, or to its knowledge after due enquiry, threatened which, if adversely decided, could have a Material Adverse Effect on you;
there are no reasonable grounds to suspect that you will not be able to pay your debts as and when they become due and payable;
you have disclosed to the us all the information that is reasonably likely to be material to an assessment by us of the risks that we assume by entering into this document;
you have notified us of any Event of Default or Potential Event of Default that has occurred and is continuing, and you are not in breach of any other agreement in a manner that could have a Material Adverse Effect on you;
that you are not a Restricted Person;
if you are a legal entity, you are duly incorporated, duly organised, and validly existing under the laws of your jurisdiction and have full power to conduct your business. If you are an individual, you are not less than 18 years old; and
your access and use of the Binance Platform and/or the Binance services, your execution and delivery of, and the performance of your obligations under these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms, will not:
i) if you are a legal entity, partner in a partnership or trustee of a trust result in a breach of or conflict with any provision of your constitution, articles of association, partnership agreement, trust deed or equivalent constitutive documents;
ii) result in a breach of, or constitute a default under, any instrument, agreement, document or undertaking to which you are a party or by which you or any of your property is bound or subject; and
iii) result in you, or cause us or any third party to, breach any Applicable Law, decree or judgement of any court, or any award of any arbitrator or those of any governmental or Regulatory Authority in any jurisdiction.
16.1 Binance may, from time to time, suspend access to your Staking Account, Binance Account and/or the Binance services, for both scheduled and emergency maintenance. Binance will make reasonable efforts to ensure that transactions on the Binance Platform are processed in a timely manner, but Binance makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.
16.2 Although Binance makes reasonable efforts to update the information on the Sites and the Binance Platform, we make no representations, warranties or guarantees, whether express or implied, that the content on the Sites and the Platform, including information in relation to the Binance services, is accurate, complete or up to date.
16.3 You are responsible for obtaining the data network access necessary to use the Binance services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use the Binance services and Sites and any updates thereto. Binance does not guarantee that the Binance services, or any portion thereof, will function on any particular hardware or devices. The Binance services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.
17.1 All terms and references used in these Staking Terms and which are defined and construed in the Binance Terms of Use (the “Terms of Use”), but are not defined or construed in Staking Terms, shall have the same meaning and construction in the Terms of Use.
17.2 The Staking Terms are to be read together with the Terms of Use. In the event of any conflict or inconsistency between the Staking Terms and the Terms of Use, the order of precedence in which the documents are to be read is first the Staking Terms, and then the Terms of Use. Binance will contact you using the details you provide to us. This may include contacting you by email, SMS or telephone. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, we will not be responsible if you do not receive information, notices or other important information from us.
17.3 We may give notice by email to your email address. It is your responsibility to ensure that the email address is up to date and accurate. Notices may be given, and are deemed to be received, if sent to your email address, whether or not a notice of delivery failure is received.
17.4 You may give us notices only as we direct, which may change from time to time.
17.6 Any notices, consent or other communication given under Staking Terms must be in writing, in English, and signed or otherwise authorised by the party giving it.
17.7 For more information on Binance, you may refer to the company and license information found on Binance websites. If you have questions regarding Staking Terms, please feel free to contact Binance for clarification via our Customer Support team at www.binance.com/en/support/requests/new.
17.8 You agree and acknowledge that:
we are not responsible for any User Material (whether provided by you or by third parties) which may be made available on the Platform or the Sites; and
use of any such User Material is at your own risk and that we do not provide any warranties in relation to the same.
17.9 We shall have the right at our sole and absolute discretion to remove, modify or reject any content that you submit to, post or display on the Platform or the Sites (including any User Material) for any reason. We reserve the right to take any actions as we deem appropriate at our sole discretion, including giving a written warning to you, removing any User Material, recovering damages or other monetary compensation from you, suspending or terminating your Binance Account (if any), or suspending your access to the Platform and/or the Sites. We shall also have the right to restrict or ban you from any and all future use of any Binance Services.
17.10 You agree that we may record any communications, electronic, by telephone, in person or otherwise, that we have with you in relation to Staking Terms, and that any recordings that we keep will be our sole property and you accept that they will constitute evidence of the communications between you and us. You agree that telephone conversations may be recorded without the use of a warning tone or any other further notice.
17.11 Other than in relation to Binance Affiliates, nothing expressed or referred to in Staking Terms will be construed to give any person other than the parties to Staking Terms any legal or equitable right, remedy, or claim under or with respect to Staking Terms or any clause or sub-clause of Staking Terms. The Terms and all of its clauses and sub-clauses are for the sole and exclusive benefit of the parties to Staking Terms and their successors and permitted assigns.
17.12 All clauses and sub-clauses of Staking Terms, which by their nature extend beyond the expiration or termination of Staking Terms, will continue to be binding and operate after the termination or expiration of Staking Terms.
17.13 No delay or omission by us in exercising any right or remedy under the Terms will operate as a waiver of the future exercise of that right or remedy or of any other rights or remedies under the Terms. The rights and remedies provided in the Terms are cumulative and not exclusive of any rights or remedies provided by Applicable Law
17.14 In addition to any legal or other remedy available under the Terms or by law, we may set-off any amounts you owe to under the Terms or otherwise. You must pay all sums that you owe to us free and clear without any set-off, counterclaim, deduction or withholding of any kind, save as may be required by Applicable Law
17.15 If you receive information about another user through the Platform or from utilising the Binance Services, you must keep the information confidential and only use it in connection with the Binance Services and always in accordance with Applicable Law. You must not disclose or distribute any user information to a third party or use the information in any manner except as reasonably necessary to effect a Transaction.
17.16 In the event of your death or incapacity, the representative(s) of your estate or the survivor or survivors must give us written notice as soon as practicable. If we have reason to believe you have died, we may suspend your Binance Account. Your Binance Account will be suspended until:
a representative of your estate or authorised beneficiary either (1) creates a Binance Account in accordance with Staking Terms; or (2) provides wire transfer instructions; and
provides sufficient legal documentation that they are entitled to receive the assets in your Binance Account; or
you provide satisfactory proof that you are not deceased.
17.18 It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report, and remit the correct tax to the appropriate tax authority. You agree that we are not responsible for determining whether any taxes apply to your use of the Binance Services, or for collecting, reporting or remitting any taxes arising from any Transaction or use of the Binance Services.
17.19 You acknowledge that we may make certain reports to tax authorities regarding Transactions made on the Platform, and that we may, in our sole discretion or as required by Applicable Law, provide you with additional documentation or records needed by you to calculate any tax obligations. We may also withhold and deduct at source any taxes due under Applicable Law in our sole discretion
Account History means the written record (including electronic records) of your Transactions and your Binance Account.
Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgements, by-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organisation of which Binance is a member), that are applicable to the provision, receipt or use of the Binance Services, or any other products or deliverables provided, used or received in connection with the Binance Services or Staking Terms.
Applicable Networks means third party 'proof of stake' networks selected by Binance from time to time.
Auto-Stake has the meaning given to it in clause 7.
Binance Affiliates means Binance, its affiliates, related body corporates, direct or indirect parent entity or subsidiary entity, or entity under common control, and each of their respective officers, directors, employees, agents, licensors, and contractors.
Chat Service means interactive online chat service.
Control has the meaning given in section 50AA of the Corporations Act except that in addition an entity controls a second entity if:
the first entity would be taken to control the second entity but for subsection 50AA(4); or
the first entity has voting power (as defined in section 610 of the Corporations Act) of at least 50% in the second entity.
Controller has the same meaning as in the Corporations Act.
Corporations Act means the Corporations Act 2001 (Cth).
Dominant Digital Asset means a Forked Digital Asset that has dominance over one or more other versions of a Digital Asset that was subject to the relevant Fork, as determined by us in our sole discretion.
Early Redeem means when you Instruct Binance to transfer Staked Asset to your Spot Wallet before Settlement Date.
Event of Default includes each of the following events or circumstances:
if you fail to pay any amount that is due and payable these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms when it is due;
if you fail to comply with any of your obligations under these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms (other than a failure referred to elsewhere in this clause) and:
i) we consider that the failure cannot be remedied; or
ii) we consider that the failure can be remedied, and the failure is not remedied within 10 Business Days after we require you to remedy it;
if any representation, warranty or statement made by, or repeated by, you, in or in connection with these Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms, is untrue or misleading (whether by omission or otherwise) in any material respect when so made or repeated;
if an Insolvency Event occurs in respect of you or, if applicable, any of your subsidiaries;
if an event or a change occurs (whether or not foreseeable) which could have a Material Adverse Effect on you or, if applicable, any of your subsidiaries;
if you cease to hold any Material Authorisation or to comply with any condition to which any Material Authorisation is subject;
if you cease for any reason to be able lawfully to carry out all your obligations that are contemplated in these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms;
if all or any material provision of these Staking Terms and any agreement entered into pursuant to, or in connection with, these Staking Terms, is or becomes void, voidable, illegal or unenforceable or of limited force (other than because of equitable principles or laws affecting creditors' rights generally), or you claim this to be the case; and
if, in Binance's reasonable opinion, there is a change of Control of you from that existing at the date of this document.
Fiat Currency means any government or central bank issued national, or supra-national, currency, or other monetary obligation denominated in such currency and which is not a Digital Asset.
Fork means any planned, unplanned, sudden, scheduled, expected, unexpected, publicised, not well-known, consensual, and/or controversial changes to the underlying operating rules of certain Digital Assets that may occur from time to time, in such a way as to result in the creation of one or more related versions of an existing Digital Asset.
Forked Digital Asset means a Digital Asset that results from a Fork.
Insolvency Event means, in respect of a person:
an administrator being appointed to the person;
a Controller or analogous person being appointed to the person or any of the person's property;
an application being made to a court for an order to appoint a Controller, provisional liquidator, trustee for creditors or in bankruptcy or analogous person to the person or any of the person's property;
an appointment of the kind referred to in subparagraph (ii) being made (whether or not following a resolution or application);
the holder of a Security Interest or any agent on its behalf, appointing a Controller or taking possession of any of the person's property (including seizing the person's property within the meaning of section 123 of the PPSA) or otherwise enforcing or exercising any rights under the Security Interest or Chapter 4 of the PPSA;
the person being taken under section 459F(1) of the Corporations Act to have failed to comply with a statutory demand;
an application being made to a court for an order for its winding up;
an order being made, or the person passing a resolution, for its winding up;
the person:
i) suspending payment of its debts, ceasing (or threatening to cease) to carry on all or a material part of its business, stating that it is unable to pay its debts or being or becoming otherwise insolvent; or
i) being unable to pay its debts or otherwise insolvent;
the person taking any step toward entering into a compromise or arrangement with, or assignment for the benefit of, any of its members or creditors;
a court or other authority enforcing any judgment or order against the person for the payment of money or the recovery of any property; or
any analogous event under the laws of any applicable jurisdiction,
unless this takes place as part of a solvent reconstruction, amalgamation, merger or consolidation that has been approved by us.
Intellectual Property Rights means: (a) copyright, patents, database rights and rights in trade marks, designs, know-how and confidential information (whether registered or unregistered); (b) applications for registration, and rights to apply for registration, of any of the foregoing rights; and (c) all other intellectual property rights and equivalent or similar forms of protection existing anywhere in the world.
Manifest Error means any error, omission or misquote (whether an error of Binance or any third party) which is manifest or palpable, including a misquote by any representative of Binance taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation.
Material Adverse Effect means, in respect of a person, a material adverse effect in the reasonable opinion of the other party on:
its business, property or financial condition;
its ability to perform its obligations under Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms; or
the validity or enforceability of Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms or the rights and remedies of the other party under any Staking Terms and any agreement entered into pursuant to, or in connection with, Staking Terms.
On-Chain Rewards means rewards or benefits of any kind, including but not limited to Digital Assets, provided by Applicable Networks for Binance staking, validating, or any engaging in any other conduct designated by the Applicable Network, that results in a ‘proof of stake’ reward.
On-Chain Staking Reward Rate means the annual percentage rate of On-Chain Rewards, calculated at UTC 0:00 on every calendar week.
Potential Event of Default means an event or circumstance which, with the passage of time, the giving of notice, the making of any determination or any combination of them, would become an Event of Default.
PPSA means the Personal Property Securities Act 2009 (Cth).
Regulatory Authority means any foreign, domestic, state, federal, cantonal, municipal or local governmental, executive, legislative, judicial, administrative, supervisory or regulatory authority, agency, quasi-governmental authority, court, commission, government organisation, self-regulatory organisation having regulatory authority, tribunal, arbitration tribunal or panel or supra-national organisation, or any division or instrumentality thereof, including any tax authority.
Restricted Person means a person or legal entity who (a) is included in any trade embargoes or economic sanctions list (such as the United Nations Security Council Sanctions List, the list of specially designated nationals maintained by the office of foreign assets control of the U.S. Department of the Treasury (OFAC), or the denied persons or entity list of the U.S. Department of Commerce), or (b) resides, or is established, in any country listed in the List of Prohibited Countries.
Reward Calculation Day means 0:00 UTC the day which Binance calculates the amount of Staking Rewards it will distribute to your Spot Account, in accordance with the Staking Program and the Reward Calculation Frequency.
Reward Calculation Frequency means the frequency in which Binance calculates Staking Rewards (e.g. daily).
Reward Currency means the digital currency (e.g. BNB) that Staking Rewards will be provided to you.
Settlement Date means the UTC 00:00 on the final day of the Staking Duration.
Sites means our website and any other websites, pages, features, or content we own or operate.
Slashing Risk means a common PoS (Proof-of-stake) blockchain risk (including ETH 2.0), where if a PoS blockchain validator commits double signing or any other malicious behaviour, validators and the delegators could lose part or all of the staked tokens or rewards. It does not include blockchain risk that is not within the control of Binance, such a slashing event that affects an entire blockchain.
Spot Account means your Binance Account that is used for spot transactions.
Staked Assets means the Digital Assets used by you to Subscribe.
Staking Duration means the agreed period that Staked Assets must be delegated to Binance in order for you to be entitled to Staking Rewards. The agreed period can be by reference to a time or an event.
Staking Margin means the difference between the Variable Staking Rate and the On-Chain Reward Rate as determined by Binance from time to time, in accordance with these Staking Terms.
Staking Program means an offer by Binance to stake Digital Assets on an Applicable Network using the Platform, in accordance with these Staking Terms.
Staking Rewards means the Digital Assets that are provided to you as consideration for Subscribing to a Staking Program, in accordance with these Staking Terms.
Staking Terms means these terms & conditions.
Subscribe means subscribing to a Staking Program.
Subscription Limit means the maximum amount of Staked Assets, users, or the quantity of any other matter that Binance may determine its sole discretion from time to time, that may be used to Subscribe to a Staking Program.
User Chat means chats that allow you to interact directly with other users of the Binance Platform.
User Materials means the Intellectual Property Rights in any reviews, posts, information, data, and comments you or other users provide to us on the Sites (through our “Contact Us” pages or otherwise), the Platform, through use of Binance Services, or otherwise.
Variable Staking Rate has the meaning given to it in clause 6.1.
Website means the website located at https://www.binance.com/en.
