Terms of Use

Last updated: May 24, 2024

INTRODUCTION

Bemo labs (“bemo,” “us” or “we”) welcomes you (“you” or “User”) to use our website https://bemo.finance/ (“Service” or Platform”). These Terms of Use (“Terms”) describe the terms and conditions that govern your use of or access to our Service. The Terms constitute an agreement between you and us, so please read these Terms carefully.

bemo is a non-custodial liquid staking protocol built on The Open Network (TON) blockchain. These Terms govern your access to and use of the bemo application and associated services. By accessing or using the Service, you agree to be bound by these Terms, our Privacy Policy (https://docs.bemo.finance/legal/privacy-policy), and the other rules provided with the Service, whether or not you are a registered user of our Service. If you do not accept or understand the Terms, please do not use or access the Service.

Changes to the Terms

We reserve the right at any time to: modify, update, or change the terms and conditions of the Terms or our Privacy Policy; modify, update, or change the Platform, including eliminating or discontinuing any content or feature of the Platform; or impose fees, charges or other conditions for use of the Platform or parts thereof. Please check back periodically for the latest version of the Terms. Your use of the Service following any changes to these Terms constitutes your acceptance of any such changes.

Securities Disclaimer

No information which may be made available on the Platform shall constitute or be construed as a recommendation, endorsement, offer, invitation, or solicitation to enter into any transaction with or purchase any product, or otherwise deal with securities, crypto assets, or other products. You further understand that none of the information providers are advising you personally concerning the nature, potential, value, or suitability of any particular security or crypto asset, portfolio of securities or crypto assets, transaction, investment strategy, or other matter, and any information provided is not tailored to the investment needs of any specific person. You understand that an investment in any security, or crypto asset or derivative product is subject to several risks and that discussions of any security or crypto asset published on the Platform may not contain a list or description of relevant risk factors. Please note that markets change continuously, so any information, content, or other material provided on or through the Platform may not be complete or current, or may be superseded by more current information. You rely on such information at your own risk.

No Professional or Investment Advice

The Platform is not intended to provide tax, legal, insurance, or investment advice, and nothing on the Platform should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or crypto asset by us. You are solely responsible for determining whether any investment, security, or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

Definitions

“Digital Assets” means cryptocurrencies, tokens, digital currencies, digital assets, blockchain assets, or any related terms, which are used in transactions on our Platform.

“TON” means The Open Network (TON) blockchain and its native cryptocurrency, TON tokens.

“stTON” means a liquid token minted by the bemo application representing a user’s share in the total TON pool deposited into bemo. The value of stTON appreciates based on staking rewards.

“Staking” means the process of depositing TON tokens into the bemo protocol to earn staking rewards.

“Unstaking” means the process of withdrawing TON tokens from the bemo protocol, which involves a cooldown period of 36 to 72 hours.

“Validator” means a node on the TON blockchain that participates in validating transactions and blocks, receiving rewards for their services.

YOUR USE OF THE SERVICE

bemo is a decentralized liquid staking application built on the TON blockchain. It enables users to stake their TON tokens, earn staking rewards, and receive stTON tokens that can be traded or used in various DeFi applications. This protocol operates through open-source, self-executing smart contracts that are deployed across various permissionless public blockchains. We have no control over the results of operation on such contracts.

USER’S ACCESS

You understand and agree that the information and services provided by the Platform are not provided to, and may not be used by or for the benefit of, any individual or entity in any jurisdiction where the provision or use thereof would be contrary to any applicable law, or where we are not authorized to provide such Platform or information and services. We also do not offer services or products to Users in a few excluded jurisdictions including the United States, North Korea, Cuba, Iran, Syria, or any other jurisdictions in which we may determine from time to time to terminate the services at our sole discretion (“Excluded Jurisdictions”). You should inform us immediately if you become a resident in any of the Excluded Jurisdictions or are aware of any Users based in any of the Excluded Jurisdictions. We also do not offer services to persons or entities in the U.S. Treasury Department’s List of Specially Designated Nationals or Blocked Persons, the EU’s Consolidated Financial Sanctions List or the UK Sanctions List, or any entity that is owned or controlled by a person or entity on such lists (“Prohibited Parties”), or offer services that involve or otherwise benefit Prohibited Parties. You understand that we reserve the right to take any appropriate actions in compliance with this restriction or in compliance with the law of a relevant jurisdiction.

Your Wallet and Your Information

To use bemo, you must connect your cryptocurrency wallet (e.g., Tonkeeper) to the application. This wallet will be used to interact with bemo’s smart contracts. Wallets are not operated by, maintained by, or affiliated with bemo, and we do not have custody or control over the contents of your wallet and cannot retrieve or transfer its contents. Users are encouraged to maintain the privacy and security of their digital wallets and associated private keys. These credentials are used to connect and interact with the Platform, and users are solely responsible for their safekeeping. The Platform will not have access to or store users’ private wallet information. Users are urged to follow best practices for wallet security, such as enabling multi-factor authentication and maintaining backups of their wallet keys. Users use third-party self-custodial wallets to interact with the Platform, we have no control or guarantee over the wallets. bemo is not and will not be liable for any damages or loss arising out of digital wallet software or your misunderstanding of how the TON blockchain and/or digital wallet works.

Users are responsible for ensuring that they comply with all applicable laws and regulations when using the Platform, including but not limited to those related to the use of digital wallets and blockchain technology.

Users may have the option to disconnect their digital wallets from the Platform at any time. Wallet disconnect will be subject to the terms and conditions set forth by the applicable blockchain and wallet providers.

Eligibility

You must be at least 18 years old (or the age of majority in your jurisdiction) to access, use, or register with the Platform. bemo does not knowingly collect or maintain information from children under this age.

PROHIBITED ACTIVITIES

The following restrictions apply to your use of the Service. In connection with your use of the Platform, you must not directly or indirectly:

· disassemble, decompile, reverse-engineer, or derive the source code of the Service;

· copy, modify, create derivative works of, publicly display, publicly perform, republish, download, store, or transmit any of the material on our platform;

· interfere with or disrupt the Service;

· attempt to gain unauthorized access to bemo’s systems and smart contracts;

· have transactions with or benefit individuals, entities, or countries that are subject to international sanctions, including those listed on any sanctions list maintained by major jurisdictions;

· transmit viruses, malware, or other malicious software;

· attempt to gain unauthorized access to the Service;

· try to get access to other users’ wallets or information;

· access or use the Service in violation of any applicable local or international laws;

· use the Platform in any way other than for its intended purpose;

· use the Platform at any time when any representation you have made under these Terms is untrue or inaccurate;

· rely on the Platform for advice related to financial or legal decisions or transactions;

· implement any device, scheme, or artifice to defraud or materially mislead any person;

· engage in any activity that operates as fraud or deceit upon any person;

· fail to comply with any applicable provision of these Terms or any other terms, conditions, privacy policies, or other policies governing the use of the Platform;

· attempt or assist in any hack or attack on the Platform or any associated wallet application or device;

· violate any applicable laws, rules, or regulations in your relevant jurisdiction;

· transact in securities, commodities futures, trading of commodities on a leveraged, margined, or financed basis, binary options (including prediction-market transactions), real estate or real estate leases, equipment leases, debt financings, equity financings or other similar transactions, if such transactions do not comply with all laws, rules, and regulations applicable to the parties and assets engaged therein;

· engage in token-based or other financings of a business, enterprise, venture, DAO, software development project, or other initiative, including ICOs, DAICOs, IEOs, or other token-based fundraising events;

· engage in any act, practice, or course of business that circumvents any sanctions or export controls targeting you or the country or territory where you are located;

· infringe on or violate any copyright, trademark, service mark, patent, right of publicity, right of privacy, or other proprietary or intellectual property rights under any law;

· disguise or interfere in any way with the IP address of a computer used to access the platform, or prevent the accurate identification of the IP address of such computer;

· transmit, exchange, or participate in any activity supported by the direct or indirect proceeds of criminal or fraudulent activity;

· contribute to or facilitate any of the activities listed above.

We reserve the right to terminate your use of the Platform for violating any of the prohibited activities.

FEES

bemo charges a 20% fee on staking rewards (10% to validators, 10% to bemo for maintenance and development). The fee is calculated and deducted automatically by the smart contract after each validation round.

When using the bemo application, you may incur additional network and unstaking fees.

All transactions on the TON blockchain, including staking, unstaking, and transfers, are subject to network fees (also known as gas fees) which are determined by the blockchain network. There may be fees associated with unstaking your TON tokens, which will be calculated based on the network conditions at the time of the transaction.

STAKING AND REWARDS

We are offering rewards for participation in Staking for both participants and validators. Also, we may from time to time offer additional rewards that we announce on the Platform. You can review the tokenomics of our bemo Incentive Rewards Program here: https://docs.bemo.finance/tokenomics/incentive-rewards-program. Unless the rewards are embedded in the smart contract, we are allowed to make changes in the rewards structure, and introduce new or abolish older rewards, which we will announce on the Platform.

AMBASSADOR PROGRAM

We offer an ambassador program for eligible applicants. We reserve the right to accept or reject anyone for any reason to our Ambassador Program. The description of the Ambassador Program is available here: https://docs.bemo.finance/get-started/ambassador-program.

INTELLECTUAL PROPERTY

Ownership

All rights, title, and interest in and to the Platform, including our website, any content thereon, the technology and software used to provide it, and any trademarks, logos, or brand elements contained therein, are the exclusive property of bemo and its licensors. Your use of the Platform and its contents does not grant or convey any rights, title, or interest in these properties to you, except for the limited rights expressly granted in these Terms.

Limited License

Subject to your compliance with these Terms, we grant you a limited, non-exclusive, non-sublicensable, non-transferable, and revocable license to access and use the Platform and its contents for your personal, non-commercial use. Any other use of the Platform is expressly prohibited. All rights not expressly granted herein are reserved by bemo and its licensors.

UPDATES TO THE SERVICE

We may issue updates or upgrades to the Service and disable access to the Service for any period or permanently. The Service is subject to scheduled and unscheduled service interruptions.

You consent to automatic updates or upgrades of the version of the Service that you are using on your device to a new version.

You agree that we will not be liable to you for any interruption of the Service.

PRIVACY

Our Privacy Policy explains how we collect, use, and protect your personal data.

When you collect or transmit any personal data through the Service, you must follow all laws and obtain all permissions from each data source to transmit such data through the Services. You agree not to:

· use a username that is the name of another person with the intent of impersonating that person;

· provide any false personal data to us or create any user account for anyone other than yourself without such person’s permission;

· engage in unauthorized collection of users’ information or access the Service by automated means, including bots or scrapers; or

· reveal any personal data related to another user, including address, phone number, email, credit card number, or any information that may otherwise identify another user.​​

GENERAL TERMS

Links to Third-Party Websites

The Service may contain links to websites owned by third parties. Such links are provided for informational purposes only. We are not responsible for any third-party websites or their content.

Limitation of Liability

The use of blockchain technology involves certain risks, including but not limited to smart contract vulnerabilities, hacking, and network failures. The Service is provided to you “as is.” We make no warranty of completeness, accuracy, availability, timeliness, security, or reliability of the Service or any content in the Service. We will not be liable for any damages, including loss of profits, loss of data, or other losses resulting from:

· any interruption of the Service;

· any content of any third party on the Service, including any defamatory, offensive, or illegal conduct of other users or third parties;

· any content obtained from the Service; or

· unauthorized access, use, or alteration of any material or content.

Indemnity

You agree to defend, indemnify, and hold us harmless from any claim, losses, obligations, damages, or expenses arising from your use of or access to the Service, your breach of these Terms, or your violation of any law or the rights of a third party. This term will continue to be effective even if you have stopped using the Service.

Governing Law and Resolution of Disputes

All claims relating to these Terms or the Service will be governed by the law of the British Virgin Islands, excluding its conflict-of-laws rules.

Any dispute, controversy, or claim arising out of or relating to these Terms, including their validity, breach, or termination, which cannot be settled amicably or in small claims court, shall be resolved exclusively in the courts of the British Virgin Islands. By using the Platform, you consent to the jurisdiction of these courts.

You agree that any cause of action arising out of or related to the Service must commence within 1 year after the cause of action accrues. Otherwise, such cause of action is permanently barred.

TERMINATION

You may stop using the Service at any time, provided that it will take time to Ustake your Digital Assets.

bemo reserves the right to modify, suspend, or discontinue the operation of, or access to, the platform or any portion of the platform at any time and for any reason, with or without notice. At our sole discretion, we may also impose limits on certain features and services or restrict your access to parts or all of the platform without notice or liability.

In case of termination, discontinuation, or cancellation of the Platform or any service, all provisions of these Terms which by their nature should survive will remain in effect, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability. We will not be liable to you or any third party for any termination or cessation of access to the platform.

If you breach any term of this agreement, or we suspect that you have not complied with these terms, we may at our discretion terminate your access to the platform immediately, without prior notice to you, and without any liability to you. Upon termination for any reason, you must cease all use of the Platform.

CONTACT INFORMATION

If you have any questions about these Terms, you can contact us at [e-mail].