Terms of Service
Last Revised Date : Dec 11, 2024
These Terms of Service (these “Terms”) govern your use of our Services offered by Pivotal and/or our affiliates. Please read these Terms and our Privacy Policy. Please note that some products and services may be subject to additional terms and conditions and/or rules and guidelines which will be deemed incorporated into this Terms by reference.
By participating and/or accessing our Services, you will be deemed to have accepted and agreed to be bound by these Terms.
1. Introduction
Pivotal is operated by Pivotal Research Ltd (“Pivotal”, “we”, “us”, “our”). These Terms govern your access to and use of Pivotal’s UI, App, website (collectively, the “Services”). By signing up to use an account, you agree to be bound by the terms and conditions contained in these Terms.
PIVOTAL PROVIDES THE ADMINISTRATION PLATFORM FOR THE SERVICES YOU PARTICIPATE IN. WE ARE NOT A BROKER, FINANCIAL INSTITUTION OR CREDITOR.
Users from the territory of UK are advised that protections provided by the UK regulatory system in connection with cryptoassets will not apply, as Pivotal is not authorised or regulated by the UK Financial Conduct Authority (FCA). If you are a UK Resident, the terms in the UK Resident shall apply.
2. Use of Our Services
The Services. The Protocols (as defined below)are not part of the Services and are not operated by Pivotal. The App included in the Services is a front-end interface to the Protocols that facilitate the staking and restaking of digital assets.
As such, prior to using the Services, please read these Terms carefully, including the Important Disclaimers that follow, and familiarise yourself with the Protocols from other publicly available sources.
Important Disclaimers
Not financial or investment advice. The Services are not intended as, and do not provide, any financial or investment advice whatsoever. As with any financial or investment decisions, you should:-
Wallets. You may need to link a third-party digital wallet ("Wallet") with the certain Services. By using a Wallet in connection with the Services, you agree that you are using the Wallet under the terms and conditions of the applicable third-party provider of such Wallet. Wallets are not associated with, maintained by, supported by or affiliated with the Pivotal. Accordingly, you acknowledge and agree that:
Third-party technologies. Certain technologies (including validator nodes, network bridges, and your Wallet) are controlled or operated by other third parties (the “Third-Party Technologies”). The App included in the Services displays data that, in conjunction with Third-Party Technologies, facilitates your interfacing with a set of decentralized technologies that allow digital assets, such as Bitcoin (BTC), to be staked and re-staked. The technologies facilitating the staking of Bitcoin are referred to herein as the "Babylon Protocol” and the technologies facilitating the liquid representation of staked or re-staked digital assets are referred to herein as the “Pivotal Protocol” (collectively, the “Protocols"). The App is not essential to accessing the Protocols. Any transactions or messages that you submit to either Protocol will be executed programmatically, which cannot be paused, reversed, or recalled. The Protocols and the Third-Party Technologies are not part of the Services, and your engagement with the Protocols via the App is entirely at your own risk.
Informational purposes only. Information about the Protocol is available on the Website at https://www.pivotalchain.io (the “Documentation”) is provided for informational purposes only and may be incomplete, contain mistakes, or become out-of-date. You are responsible to verify that the Documentation is accurate and up to date. You should conduct a test transaction prior to conducting a material transaction anytime you interact with the Protocols. We are not liable for any damage or loss caused or alleged to be caused by your reliance on the Documentation.
Rewards. In your use of the Services, we may reward you with certain points, reputation indicators, or other intangible rewards (“Rewards”). You agree that:-
Yield. Your engagement of the Protocols or Third-Party Services (as defined in Section 7 below) may result in the accumulation and/or transfer of certain digital assets (“Yield”) to an account or your Wallet. The amount of Yield you accumulate and/or actually receive, if any, is determined entirely by the Protocols and/or Third-Party Services. We cannot and do not offer or guarantee the receipt of Yield in connection with your use of the Services or your engagement of the Protocols and/or Third-Party Services.
Eligibility. If you do not leave the Services, then you will be deemed for all purposes to have represented that none of the conditions listed in (1)-(4) below apply to you.
You may not use the Services if you:
Updates to Terms of Use. These Terms may be updated by us at any time with or without notice to you. The Last Revised Date of these Terms will be provided at the top of each version. If you do not agree with these Terms, you may not use the Services. Your continued use of the Services will be deemed acceptance of the updated Terms.
Updates to the Services. We may update and change our Services from time to time, including for the purpose of reflecting changes to our products, our users' needs and our business priorities. We will try to give you reasonable notice of any major and material changes.
Terms of Use. By using the Services, you agree:
(a) to provide accurate, complete and current information about yourself;
(b) to maintain and promptly update your information as necessary;
(c) that you are fully responsible for all activities that take place under your name or account;
(d) that you will use our Services only for yourself, and not on behalf of any third party, unless authorised by such third party; and
(e) We may, in our sole discretion, refuse to allow you to use the Services, or suspend or terminate your access to the Services. You also agree that any notices, agreements, disclosures, or other communications that we send to you electronically will satisfy any legal communication requirements, including, but not limited to, that such communications be in writing. You may opt out of receiving promotional emails that you have previously opted-in to at any time by following the instructions to unsubscribe, as provided therein.
3. Termination of Access to Services
Suspension, Termination, and Cancellation. Pivotal may, at its option and in its sole discretion, restrict, suspend, terminate or cancel your access to any or all of the Services if:
(i) we are so required by a subpoena, court order or binding order of any government authority;
(ii) any of our service partners are unable to support your use thereof;
(iii) you take any action that Pivotal deems in its sole discretion as circumventing Pivotal’s controls, or abusing promotions which Pivotal may offer from time to time; or
(iv) your use of the Services is subject to any pending litigation, investigation, or government proceeding and/or we, in our sole discretion, perceive a heightened risk of legal or regulatory non-compliance associated with your activity;
(v) we reasonably suspect you of using the Services in connection with any Prohibited Uses (as defined in Section 4 below);
(vi) you breach these Terms.
You acknowledge that Pivotal’s decision to take certain actions, including limiting access to or suspending your User Account, may be based on confidential criteria that are essential to Pivotal’s risk management and/or security protocols. You agree that Pivotal is under no obligation to disclose the details of its risk management and/or security procedures to you.
4. User Conduct
Prohibited Uses. You may not use the Services to engage in the following categories of activity ("Prohibited Uses"). The Prohibited Uses listed below are representative, but not exhaustive, and Pivotal reserves the right to update or amend such list in its sole discretion at any time, with or without notice to you. If you are uncertain as to whether or not your use of the Services involves a Prohibited Use or have questions about how these requirements apply to you, please contact us at info@pivotalchain.io. By using the Services, you agree that you will not use the Services to do or undertake any of the following, as determined by Pivotal in its sole discretion:
5. Copyright and License to You
Information Ownership. The Services and all content and other materials contained therein, including, without limitation, the Pivotal logo and all designs, text, graphics, trademarks, pictures, information, data, software, sound files, and/or other files related thereto and/or associated therewith and the selection and arrangement thereof (collectively, “Content”), Unless otherwise indicated in writing by us, are and shall remain the sole and proprietary property of Pivotal or our affiliates or licensors, if and as applicable.
Third-Party Intellectual Property. The Services and Content may include software components provided by Pivotal or its affiliates or a third party that are subject to separate license terms, in which case those license terms will govern the usage of such software components, as applicable.
Third-Party Services. The Services may contain links to third-party websites (“Third-Party Websites”) and/or applications (“Third-Party Applications”). Your use thereof, shall be subject to their terms of use, privacy policies and applicable terms. Pivotal provides does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Websites or Third-Party Applications or their products or services. You use all links in Third-Party Websites and Third-Party Applications at your own risk.
Limited License to You. These Terms grant users a limited and non-exclusive right to use the Services, including all Content thereon. You may not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, transmit, or otherwise exploit any of the Content on our Services, except as follows:
You must not:
If you wish to make any use of Content other than that set out in this Section, please address your request to: info@pivotalchain.io
6. Risks Inherent to Blockchain Technologies
By using and accessing the Services, you represent that:-
By accessing and using the Services, you assume all risks associated with using Blockchain Technologies, including, but not limited to, the risk of hardware, software and internet connections failure or problems, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to information stored within the Blockchain Technologies.
You understand, acknowledge and agree that:-
7. Third-Party Services and Materials
The Services, including the App, may allow you to browse certain services or products that are developed or operated by persons other than Pivotal (“Third-Party Services”), including services or products that purport compatibility with restaked digital assets. The Third-Party Services may display, include or make available content, data, information, applications or materials from third-parties (“Third-Party Materials”) or provide links to certain third party websites. We do not endorse or recommend any Third-Party Materials, the use of any provider of any Third-Party Services, or the restaking or delegation of any assets to any Third-Party Services. You agree that your access and use of such Third-Party Services and Third-Party Materials is governed solely by the terms and conditions of such Third-Party Services and Third-Party Materials, as applicable. We are not responsible or liable for, and make no representations as to any aspect of such Third-Party Materials and Third-Party Services, including, without limitation, their content or the manner in which they handle, protect, manage or process data or any interaction between you and the provider of such Third-Party Services. We are not responsible for examining or evaluating the content, accuracy, completeness, availability, timeliness, validity, copyright compliance, legality, decency, quality, security or any other aspect of such Third-Party Services or Third Party Materials or websites. You irrevocably waive any claim against us with respect to such Third-Party Services and Third-Party Materials. We are not liable for any damage or loss caused or alleged to be caused by or in connection with your enablement, access or use of any such Third-Party Services or Third-Party Materials, or your reliance on the privacy practices, data security processes or other policies of such Third-Party Services. Third-Party Services, Third-Party Materials and links to other websites are provided solely as a convenience to you. Certain Third-Party Services or Third-Party Materials may automatically populate on the Services. We reserve the right to remove any Third-Party Services or Third-Party Materials from the Services for any reason whatsoever.
8. Indemnification
To the fullest extent permitted by applicable law, you agree to indemnify, defend, and hold harmless Pivotal, and our past, present, and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors, and assigns (individually and collectively, the “Pivotal Parties”), from and against all actual or alleged claims, damages, awards, judgments, losses, liabilities of every kind, and nature whatsoever, whether known or unknown, that are caused by, arise out of, or are related to (a) your use or misuse of the Services, (b) your breach or violation of these Terms, and/or (c) your violation of any right(s) of any third party. You agree to promptly notify Pivotal of any Claim(s) and shall cooperate fully with the Pivotal Parties in defending such Claims. You further agree that the Pivotal Parties shall have control of the defense or settlement of any third party Claims. THIS INDEMNITY IS IN ADDITION TO, AND NOT IN LIEU OF, ANY OTHER INDEMNITIES SET FORTH IN ANY WRITTEN AGREEMENT(S) BETWEEN YOU AND PIVOTAL.
9. Limitation of Liability
EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY PIVOTAL, THE SERVICES, CONTENT CONTAINED THEREIN, AND ANY BLOCKCHAIN TECHNOLOGIES REFERENCED THEREIN ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED. PIVOTAL (AND ITS AFFILIATE(S), LICENSOR(S) AND/OR OTHER BUSINESS ASSOCIATE(S)) MAKES NO WARRANTY THAT THE SERVICES: (A) WILL BE ACCURATE, RELIABLE, COMPLETE, LEGAL OR SAFE.; (B) WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS; OR (C) WILL MEET YOUR REQUIREMENTS.
PIVOTAL DISCLAIMS ALL OTHER WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO THE SERVICES, CONTENT CONTAINED THEREIN. YOU ACCEPT THE INHERENT SECURITY RISKS OF PROVIDING INFORMATION AND DEALING ONLINE OVER THE INTERNET AND WILL NOT HOLD US RESPONSIBLE FOR ANY BREACH OF SECURITY UNLESS IT IS DUE TO OUR GROSS NEGLIGENCE.
YOU AGREE AND ACKNOWLEDGE THAT PIVOTAL HAS NO CONTROL OVER AND MAKES NO GUARANTEES OR PROMISES WITH RESPECT TO THE OWNERSHIP RECORD OR SMART CONTRACTS. PIVOTAL MAKES NO OFFER OR INVITATION TO ACQUIRE, PURCHASE, TRANSFER, SELL, OR OTHERWISE DEAL IN BLOCKCHAIN TECHNOLOGIES. YOU WAIVE ANY AND ALL RIGHTS AND CLAIMS YOU MAY HAVE, WHETHER KNOWN OR UNKNOWN AGAINST PIVOTAL (AND ANY RELATED PARTIES) RELATED TO BLOCKCHAIN TECHNOLOGIES AVAILABLE ON THE SERVICES.
TO THE FULLEST EXTENT PROVIDED BY LAW, IN NO EVENT WILL PIVOTAL OR ITS AFFILIATES, OR ITS OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, CONTRACTORS, AGENTS, OFFICERS, OR DIRECTORS, BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, LOSS OF DIGITAL ASSETS, LOSS OF PRIVATE KEY, LOSS OF SEED PHRASE, LOSS OF ACCESS TO ANY DIGITAL WALLET, OR ANY OTHER DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE SERVICES, INCLUDING BUT NOT LIMITED TO ANY CONTENT ON THE SERVICES OR ANY OTHER WEBSITES AND MOBILE APPLICATIONS OR ANY ITEMS OBTAINED THROUGH THE SERVICES OR SUCH OTHER WEBSITES AND MOBILE APPLICATIONS, WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE.
IN NO EVENT WILL PIVOTAL’S AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICES, THE ACCESS TO AND USE OF THE SERVICE, CONTENT, REWARDS OR ANY PRODUCTS OR SERVICES ON THE SERVICES EXCEED $100.
ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICES MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM SHALL BE DEEMED PERMANENTLY WAIVED AND BARRED.
THIS SECTION DOES NOT AFFECT ANY LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH JURISDICTIONS THE ABOVE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, OUR LIABILITY IS LIMITED TO THE EXTENT PERMITTED BY LAW, THEREBY MINIMIZING OUR LIABILITY TO YOU TO THE LOWEST AMOUNT PERMITTED BY APPLICABLE LAW.
10. Dispute Resolution
This Section includes an arbitration agreement and an agreement that all claims will be brought only in an individual capacity (and not as a class action or other representative proceeding). Please read it carefully.
Informal Process. In the event of any dispute between you and Pivotal, you agree to first contact Pivotal in a writing that specifically references this section and which describes the dispute and your position in relation to it in sufficient details for the receiving company to engage in meaningful discussions about the dispute (“Dispute Notice”). For a period of no less than thirty days after receipt of the Dispute Notice, or such longer period as the parties may agree in writing, you shall make a good faith and sustained effort for a to resolve the dispute before resorting to more formal means of resolution.
Agreement to Arbitrate. After the informal dispute resolution process, any remaining dispute arising out of or in connection with these Terms or Pivotal’s services and/or products, including but not limited to the Services, or relating in any way to the communications between you and Pivotal or any other user of the Services, including any question regarding its existence, validity or termination (collectively, “Dispute”), shall be referred to and finally resolved by confidential, binding arbitration to be seated in the British Virgin Islands and conducted in the English language by a single arbitrator pursuant to the BVI AIC Rules (the “Rules”) of the BVI International Arbitration Centre for Dispute Resolution (the “BVI AIC”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. You and Pivotal shall endeavor to agree upon the arbitrator, and if you and Pivotal fail to do so within twenty-one (21) days of the commencement of the Arbitration, the appointment shall be made by BVI AIC in accordance with the Rules. This mandatory arbitration agreement applies to you and to Pivotal. However, this arbitration agreement does not (a) govern any Dispute initiated by Pivotal for infringement of its intellectual property, or (b) bar you from making use of applicable small claims court procedures in appropriate cases.
The award or decision of the arbitrator shall be final and binding upon the parties and the parties expressly waive any right under the laws of any jurisdiction to appeal or otherwise challenge the award, ruling or decision of the arbitrator. The judgment of any award or decision may be entered in any court having competent jurisdiction to the extent necessary. If any party elects to have a Dispute resolved by arbitration pursuant to this provision, no party hereto shall (or shall permit its representatives to) commence, continue or pursue any Dispute in any court; provided, however, that we shall be entitled to obtain an injunction or injunctions to prevent breaches of this provision and to enforce specifically the terms and provisions thereof, this being in addition to any other remedy to which we are entitled at law or in equity, and the parties hereto hereby waive the requirement of any posting of a bond in connection with such injunctive relief or specific performance.
The laws of the British Virgin Islands shall govern this arbitration agreement, which shall survive any termination of these Terms.
If you wish to begin an arbitration proceeding, after following the informal dispute resolution procedure, you must send a letter requesting arbitration and describing your claim to: info@pivotalchain.io
Arbitration Procedure and Rules. Each party shall bear its own filing and administrative fees in the first instance. The arbitrator, and not any federal, state, or local court, will have exclusive authority to resolve any dispute relating to the interpretation, applicability, unconscionability, arbitrability, enforceability or formation of this arbitration agreement, including any claim that all or any part of this arbitration agreement is void or voidable. However, the preceding sentence will not apply to the “Class Action Waiver” section below.
Class Action Waiver. Any Claim must be brought in the respective party’s individual capacity, and not as a plaintiff or class member in any purported class, collective, representative, multiple plaintiff or similar proceeding (“Class Action”). The parties expressly waive any ability to maintain any Class Action in any forum. If the Claim is subject to arbitration, the arbitrator will not have authority to combine or aggregate similar claims or conduct any Class Action nor make an award to any person or entity not a party to the arbitration. Any claim that all or part of this Class Action Waiver is unenforceable, unconscionable, void or voidable may be determined only by a court of competent jurisdiction and not by an arbitrator. The parties understand that any right to litigate in court, to have a judge or jury decide their case or to be a party to a class or representative action is waived, and that any claims must be decided individually, through arbitration.
Waiver of Jury Trial. If for any reason a claim proceeds in court rather than in arbitration, you and Pivotal each waive any right to a jury trial.
11. Miscellaneous
Governing Law and Venue. These Terms shall be governed by and construed and enforced in accordance with the laws of the British Virgin Islands.
Severability. If any term, clause or provision of these Terms is held invalid or unenforceable, such term, clause, or provision will be severed from these Terms and the remaining term, clause, or provision of these Terms shall continue to be valid and enforceable.
Wavier. Failure or delay by us to exercise or enforce any of our rights under this Terms of Service shall not constitute a waiver of such rights.
Assignability. These Terms are personal to you, and are not assignable, transferable, or sublicensable by you except with Pivotal’s prior written consent.
Notices. All notices under these Terms will be in writing and will be deemed to have been duly given when received, if personally delivered or sent by certified or registered mail, return receipt requested; when receipt is electronically confirmed, if transmitted by facsimile or e-mail; or the day after it is sent, if sent for next day delivery by recognised overnight delivery service.
12. Contact us
If you have any questions or complaints about our Services or these Terms, please email us at info@pivotalchain.io