Terms of Service

Last updated on August 07th, 2018

I. OVERVIEW TERMS

  1. There is no setup cost at the beginning. The initial costs are covered by our service. Setting up a masternode takes time, effort and deep comprehension in almost all stages, plus a VPS must be installed with Linux, etc. It’s a good deal that our service covers all of these procedures for you
  2. Transparency: Any investor in a masternode will always be able to monitor the status of their investment through figures and information such as how many coins are presently in the wallet, when the node will initially run, and the exact amount of coin for their reward. For more detailed information, investors can easily verify this information on our website.
  3. An administrative fee of 5-6 percent of the masternode rewards is charged to cover VPS costs, payment transaction fees, administrative duties, and service development. That said, we treat your business as ours.
  4. We reserve the right to dissolve any masternode at any time for any reason—including but not limited to wallet problems, economical factors, workloads, or security concerns. After a masternode's termination, its shares are either moved to another one or refunded to investors' payout addresses accordingly.
  5. How often new masternodes are opened is depended on either momentary situations or specific customer's demands and the availability of our at-hand resource.

II. DEPOSIT TERMS

  1. Masternode collateral is split into separate shares depending on the amount of required coins for that masternode. For instance, 1000 Dash coins are required for a Dash masternode so for the ease of math, each share should be 100 Dash coins.
  2. Each masternode may have its minimum number of shares that investors can invest.
  3. Our list of supported coins which are visible to investors is of interest which means the list may change without any notice. There are some criteria we considere when bringing a coin to the list: ROI, percentage of reward. Each coin in the list has an unique address into which invesments are sent.
  4. Each deposition are confirmed via emails sent to its investor.
  5. As being opened and during the time for reservation, only a certain number of shares is available for a masternode while usually a larger number of depositions to that masternode are confirmed. To maintain a fair environment for all investors, we apply a time-based rule: first come, first served. The masternode will be starting in a few hours after its shares are filled up with the chosen depositions based on that rule. That said, the depositions to that masternode other than the chosen ones regardless their status will be processed accordingly, either moved to another masternode or refunded to theirs investors.

III. PAYMENT TERMS

  1. Payments or rewards are processed daily, twice a week, or weekly depending on the coin. The specific information will be published on the masternode website.
  2. Potential airdrops are considered masternode rewards and are distributed according to shares.
  3. The time window for payments on the payout day is 18:00 - 22:00 UTC.
  4. Amounts of payments are rounded to eight digits after the decimal.
  5. It is your responsibility to provide us with a valid payout address and control the accuracy after the first payout when completing registration procedures.

It is generally not advised to use an exchange address, as you will not have full control over the wallet. That address might change, or the exchange might go offline all together.

IV. EXIT TERMS

  1. A withdrawal request must be made in your dashboard (function of withdraw) and is binding. The coins will be refunded to your payment reward address. The lock time varies in following scenarios:
  2. Withdrawal from a standby masternode: If the masternode is not filled, your withdrawal request will be processed within 1 hour.
  3. Withdrawal from a running masternode: Your coins will be locked in maximum 72 hours after the request. During this period, these shares will be publicly opened for replacement. Within 72 hours your coins will be refunded as soon as we find the replacement. Meanwhile, if no replacement found within 72 hours, the masternode will be temporarily disbanded to comply with the request and all the coins (including accrued rewards) will be withheld until we found investors for the remaining shares to continue running the masternode.
  4. Withdrawal from a dedicated masternode: there is no lock time for dedicated masternodes. Your withdrawal request will be processed as soon as we have finished consolidating fund.
timeframes are a policy. In practice, if you need your coin ASAP we will try our hardest to make it happen. If you withdraw your coin on any day except the payout day (published in the private node channel) for the appropriate masternode, you forfeit your share since the last payout.

V. WARRANTY

Technically a masternode once setup properly will run forever as long as hardward requirements are fulfilled, e.g: network, server, ... But in practice despite our best effort, its uptime is affected by many factors which are not within our control: server crashes, wallet stops syncing, ... We apply the following process for such exceptions:

  1. For a masternode that unexpectedly stops while running, we will notify its investor via emails and our Discord channel.
  2. For a masternode that unexpectedly stops while running, we do not charge fee for 3 days from its first reward after being restarted.

VI. Reserved

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