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Staking Terms & Conditions

Terms of Service

Blocksound Foundation: Staking Terms and Conditions

 

Last Updated: 4th of June, 2025

 

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  1. Introduction

 

These Staking Terms and Conditions ("Terms") govern your access to and participation in the staking program provided by Blocksound Foundation and its subsidiary, Blocksound TokenCo (BVI) Ltd. (collectively, "Blocksound," "we," or "us"). By engaging with the staking dashboard and initiating a staking transaction, you agree to be bound by these Terms. If you do not agree, do not stake your SLC (Silencio) tokens.

 

Participation in staking is at your own risk and responsibility. You must read and understand these Terms before proceeding.

 

These Terms incorporate by reference the Silencio Network’s General Terms and Privacy Policy, available at [https://www.silencio.network/termsandconditions](https://www.silencio.network/termsandconditions) and [https://www.silencio.network/privacy-policy](https://www.silencio.network/privacy-policy). 

 

In case of any conflict between these Staking Terms and the General Terms, the Staking Terms will prevail. These terms are entered into with Blocksound TokenCo (BVI) Ltd., a wholly owned subsidiary of Blocksound Foundation. The liability of each entity is limited to the extent permitted by applicable law in its respective jurisdiction

 

  1. Staking Overview

 

  1. Token: SLC (Silencio Token)

  2. Mechanism: When staking, your SLC is converted into a non-custodial staking contract represented by a pSLC balance.

  3. Reward Distribution: Rewards are streamed block-by-block and automatically compounded into the staked balance. Manual claiming or restaking is not required.

  4. Duration: Staking is flexible; users may choose how long to remain staked.

  5. Unstaking: Allowed at any time, but subject to a cooldown period.

  6. Cooldown Period: The cooldown duration is displayed on the staking dashboard. It is currently fixed but subject to change by Blocksound. Unstaking is irrevocable. Any unawarded rewards at the time of the unstaking request are forfeited.

  7. Reward Accrual During Cooldown: No rewards accrue during the cooldown.

  8. Single Staking Position: Each wallet can maintain only one active staking position but may incrementally add to it.

 

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  1. Eligibility

 

You may not participate in staking if you:

 

  1. Are a resident, citizen, or entity in the United States or any jurisdiction subject to embargoes or sanctions.

  2. Are under 18 years of age.

 

By participating, you represent and warrant that you are not located in or a citizen/resident of a sanctioned jurisdiction, that you are at least 18 years old, and that your participation complies with all applicable laws. Blocksound reserves the right to refuse participation at its sole discretion.

 

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  1. Rewards

 

  1. Source of Rewards: Rewards are funded through community campaigns.

  2. APY: Rewards are variable and depend on the total amount staked and the reward pool at any given time. Any estimates of APR or potential rewards are for informational purposes only and are not guaranteed.

  3. Compounding: Rewards are automatically compounded and indistinguishable from the principal.

Blocksound reserves the right to rectify errors or miscalculations in reward distribution without obligation for prior notice.

 

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  1. Fees and Penalties

 

Currently, there are no penalties or fees for early withdrawal. Blocksound reserves the right to implement protocol-level enforcement mechanisms (e.g., slashing, jailing) in the future, which may affect your staked tokens. Any changes will apply only to new stakes initiated after the update.

 

Users are responsible for all gas fees associated with staking, unstaking, or claiming rewards.

 

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  1. Risk Disclosures

 

Staking involves risks, including but not limited to:

 

  1. Loss of access to your tokens due to smart contract bugs, blockchain forks, or malicious attacks.

  2. Changes in market value of SLC.

  3. Regulatory actions that may affect your ability to participate.

 

You are solely responsible for ensuring the compatibility of your wallet with the staking platform and for safeguarding your private keys. Blocksound assumes no responsibility for lost funds due to user error, wallet compromise, or other external factors.

The staking system is not registered or licensed by any financial regulatory authority and may be subject to future legal and regulatory developments. By participating in staking, you acknowledge that you have read, understood, and accepted these risk disclosures.

 

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  1. Smart Contract Disclaimer

 

The staking system operates through audited smart contracts. However, Blocksound does not guarantee the security of these contracts and is not liable for any losses resulting from bugs, exploits, or technical failures.

 

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  1. Right to Modify, Suspend, or Terminate

 

Blocksound reserves the right to:

 

  1. Modify, pause, restrict, or terminate the staking program at any time, including without prior notice in emergencies or compliance events.

  2. Change these Terms.

  3. Adjust reward mechanics, cooldown periods, or eligibility rules.

 

Such changes will be effective for new staking positions only.

 

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  1.  Tax Responsibility

 

Blocksound does not and will not provide any tax advice. You are solely responsible for determining the tax implications in your jurisdiction and for reporting and paying any applicable taxes related to staking or rewards.

 

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  1. Legal and Dispute Resolution

 

  1. Jurisdiction: British Virgin Islands (BVI)

  2. Governing Law: BVI law

  3. Dispute Resolution: Binding arbitration under the BVI International Arbitration Centre (BVI IAC)

  4. Class Action Waiver: You agree that disputes must be resolved individually and not as part of a class or group.

  5. Limitation Period: Any claim must be brought within one year from when the issue is discovered or should have been discovered.

 

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  1. No Advice or Fiduciary Duty

 

Blocksound does not provide financial, legal, or tax advice and does not act as a fiduciary, advisor, or manager. You participate in the staking program solely at your own discretion and responsibility.

 

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  1. Indemnification

 

You agree to indemnify, defend, and hold harmless Blocksound and its affiliates from any claims, losses, or liabilities arising out of your use of the staking program, violation of these Terms, or breach of applicable law.

 

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  1. Limitation of Liability

 

Blocksound shall not be liable for any indirect, incidental, or consequential damages. Total liability is limited to gas fees paid by the user in connection with staking transactions. Blocksound shall not be liable for any failure or delay in performance due to causes beyond its reasonable control, including acts of God, cyber attacks, or regulatory interventions.

 

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  1. Severability

 

If any provision of these Terms is held invalid, the remainder will remain in full force and effect.

 

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  1. Assignment

 

You may not assign these Terms without prior written consent. Blocksound may freely assign these Terms to any affiliate or third party.

 

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  1. Entire Agreement

 

These Terms, together with the General Terms and Privacy Policy, constitute the entire agreement between you and Blocksound regarding staking and supersede all prior agreements.

 

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  1. Acceptance of Terms

 

By initiating a staking transaction on the Blocksound dashboard, you implicitly accept and agree to these Terms. The most current version will always be displayed, along with the date of the last update. Blocksound may terminate or restrict your participation in staking for any breach of these Terms or applicable law. These Terms are drafted in English, which shall be the governing language in case of dispute or discrepancy.
 


 

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If you have any questions regarding these Terms, please contact us through the official Blocksound communication channels before proceeding with staking.

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