Mining Pool Participant Agreement

A. Introduction

This agreement (the “Agreement”) between Voracity Cycle Limited o/a SVPool (referred to herein as “SVPool, “we, “us” or “our) and you (referred to in this Agreement as “Participant, “you“, or “your), applies to your participation in the SVPool digital asset mining pool service, the registration and administration for which is found at http://svpool.com (the “Website”). This Agreement and associated instructions, guidance and similar information provided on the Website from time to time set out how our service works and describes the associated rights and responsibilities of the parties. Upon registration and participation in SVPool, Participant agrees to be bound by this Agreement and the other terms published from time to time on the Website.

B. Registration and Binding Agreement

  1. By applying to register, you are making an offer to enter into an agreement on the terms set out in this Agreement and the Website. Once submitted, you may not withdraw your offer.
  2. Only we can decide whether applications will be accepted. If your application is accepted, this Agreement will be a legal and enforceable agreement between you and us.
  3. SVPool reserves the right to change this Agreement from time to time as it sees fit, providing ten (10) days notice by posting a revised Agreement on the Website in advance of the date in which the change is to take effect. The Participant’s continued use of the Service after such changes coming into effect will signify the Participant’s acceptance of any adjustment to these terms. Should Participant not accept such changes, Participant must discontinue to use the Service (as defined below).
  4. If there is ever a conflict between this Agreement, and the instructions, guidance and similar information found on the Website, this Agreement will take priority.

C. Definitions

In this Agreement:

  1. Account” means your personal access to the Service, described further in section E.
  2. Actual Contribution” means the product of multiplying the Contribution by the Mining Period, as more particularly described in Schedule B: Actual Contribution and Gross Payout.
  3. Blockchain Computer” means the computer hardware owned by the Participant that is used to mine Digital Assets.
  4. Contribution” means the contribution by a Participant of the Hash Rate of their Blockchain Computers to the Mining Pool.
  5. Force Majeure Event” means a cause beyond a party’s control, including any natural calamity, act of God or a public enemy, act of any military, pandemic or epidemic, civil or regulatory authority, change in any law or regulation, disruption or outage of communications, power or other utility, excluding any failure to perform by any supplier or other third party contracted by a party.
  6. Gross Payout” means the amount generated by the applicable Payout Algorithm, prior to netting out the Pool Fee, as applicable, to produce the actual, net Payout as more particularly set out in Schedule B: Actual Contribution and Gross Payout.
  7. Digital Assets” means distributed, decentralized peer-to-peer blockchain based digital currencies and assets.
  8. Hash Rate” is the blockchain computing power (operations per second) of each Blockchain Computer which for greater certainty is mining algorithm specific (SHA-256, Scrypt, X11 etc.).
  9. including” or “includes” means including without limitation.
  10. Mining Period” means the period during which the Blockchain Computer was actually mining in accordance with its Hash Rate, and for greater certainty excludes any downtime of the applicable Blockchain Computer.
  11. Mining Pool, as further described herein and on the Website, means the collective Digital Asset mining pool operated by SVPool, into which each Participant makes their Contribution from the Participant Blockchain Computers and pays the Pool Fee, in consideration for which SVPool pays Participant the Payout based on the Payout Algorithm.
  12. Payout” is the periodic deposit to your Wallet of the Withdrawal Minimum Amount, as calculated in accordance with the Schedule B: Actual Contribution and Gross Payout
  13. Payout Algorithm” means as more particularly described on Schedule C: Payout Algorithm, the “Pay Per Last N Shares” payout mechanism wherein the Mining Pool receives solutions from Participant and all of the other connected participants, and if one of those solutions is correct, the Mining Pool receives a Digital Asset reward for the created block, which reward is shared proportionally to the efforts applied by the Blockchain Computers of the Participant and all other participants. 
  14. Payout Schedule” means the daily Payout of any Withdrawal Minimum Amount at UTC +1 to the Participant’s registered Wallet in accordance with this Agreement.
  15. Pool Fee” means the percentage fee applicable to the Payout Algorithm set out in Schedule A: Pool Fee and described in Section F.1 of this Agreement.
  16. Service” has the meaning ascribed in Section D.1. of this Agreement.
  17. Wallet” means a software program in which keys and access information for Digital Assets are stored, as licensed to and operated by the Participant.
  18. Withdrawal Minimum Amount” means any positive Gross Payout less the applicable Pool Fee that is greater than the minimum payout set out in Schedule A: Pool Fee.

D. Service and Contribution

  1. SVPool shall provide access to the Mining Pool and pay the applicable Payout to each Participant (the “Service”) in consideration of the Participant (a) providing their Actual Contribution to the Mining Pool, and (b) payment of the Pool Fee, in each case in accordance with this Agreement.
  2. The Service is provided solely in the Cayman Islands. The Participant agrees and confirms the Service shall be provided in and from that jurisdiction and by accessing the Website, the Participant has entered into that jurisdiction to procure the Services.  
  3. Instructions on the Website outline how each Participant can make a Contribution.

E. Registration

  1. You may only apply to register as a Participant if:
    • you have the right, authority, and capacity to enter into this Agreement and to abide by all of the terms and conditions set forth herein;
    • you own or lawfully have access to or possess Blockchain Computers; and
    • each of your Blockchain Computers meets our technical specifications set out on the Website.
  2.  To register as a Participant, you must create an Account using a valid email address, in connection with which you will be required to provide (a) personal and/or corporate details, including the full legal name of the Participant, (b) the Participant’s registered address, (c) the full legal name of any administrator that will have access to the Account on behalf of the Participant and the administrator’s address and contact information, (d) contact email address for the Participant from which SVPool can receive instructions and send formal notifications, and (e) a cell phone number that can receive SMS text messages. We may also require you to provide us with identification or other documentation for you or your administrator in order to help us prevent fraud or money laundering. This may include corporate documents, photographic identification and a recent proof of address. We may also undertake our own identity, fraud and credit checks. You must ensure that all Account information is accurate, not misleading, complete, and up-to-date. It is important to note that the Account is your means of participating in the Mining Pool, and that it does not store your Payout.
  3. The information submitted in connection with registration, including the registered administrator, may only be changed upon ten (10) days notice to SVPool and SVPool is entitled to rely on the information provided until such notice has been provided and ten (10) days have elapsed.
  4. Your username and password will be allocated to you if you successfully apply for registration as a Participant. Only you or your registered administrator is permitted to have access to your username and password.  You will need your username and password to access the Service. In particular, your username and password are personal to you and must not be disclosed to any other person. Note that SVPool personnel will never ask you to disclose your password. Any message the Participant receives or website that he/she or it visits that asks for the password, other than the Website, should be reported to SVPool. The Participant and its registered administrator is responsible for maintaining the confidentiality of the Account’s credentials, including, but not limited to, password, email address, Wallet address, and all activity made through the Account. SVPool is not responsible for any of your losses in connection with the misappropriation or misuse of your username or password.
  5. You will need to enter at least one Wallet address in order to receive Payouts. The Account may allow you to add more than one Wallet.
  6. Each Participant is limited to one Account. Each registered administrator may only act for one Participant.
  7. By submitting the registration application, the Participant confirms that he/she or it is not acting for the benefit of any other person or entity not identified on such application and the proposed administrator confirms that he or she does not act for any other Participant.
  8. After registering, your first log in to the Account will allow you to set a name for your worker group and that will be the name you use to link your hardware to the SVPool. Additional instructions will be available on the Website. 
  9. Confirmation of your successful registration will be made by email, which will also contain an estimated commencement date for your Contribution. The confirmed commencement date of the Contribution will be notified to you in a subsequent email.
  10. If you lose access to your Account, SVPool may ask you to provide certain types of data, including personally identifiable information, to determine ownership of the Account. This may include, but is not limited to: proof of identity; proof of residence; proof of telephone number/email ownership and any identifiable activity on the Website.
  11.  

F. Pool Fee

  1. We provide the platform on which the Mining Pool operates, in return for which we charge a Pool Fee to each Participant, which includes maintenance and electricity costs and other expenditures required to render the Service. The Pool Fee is applied to each Payout and is non-refundable. The Pool Fee will be established at an initial level as outlined in Schedule A: Pool Fee, and may change from time to time with ten (10) days prior notice.
  2. Participant acknowledges and agrees that (a) SVPool must receive the payment of each Pool Fee in order for SVPool to continue to operate the platform for its Services, (b) given that the Pool Fee is calculated as a percentage of the Gross Payout, should the value of the Gross Payouts decline (including due to factors such as currency fluctuation and increased regulation), the total Gross Payouts of all of the participants may be insufficient to generate the necessary Pool Fees, and (c) in that case, SVPool may terminate or suspend this Agreement.
  3. SVPool may, from time to time, upon notice waive or reduce the Pool Fee for promotional and marketing purposes.

G. Risk Notice

  1. Actions with Digital Assets carry inherent risks. Digital Assets may not be appropriate for everyone. By applying to be a Participant, you confirm that you have learned about Digital Assets to ensure that they are appropriate for you, and accept the risks.
  2. Like all currencies, there are disadvantages to using Digital Assets. Some of the risks particular to Digital Assets include:
    • currency fluctuation – the price of any Digital Asset may fall sharply and may even fall to zero;
    • transactions with Digital Assets may be unconfirmed for a period of time. Although very unlikely, some Digital Asset transactions may never be confirmed – Digital Asset transactions which are unconfirmed are not completed;
    • transactions with Digital Assets are irreversible – if you send any amount of any Digital Asset to the wrong person, you may be unable to recover those funds;
    • Digital Assets may be lost if you lose or forget any passwords necessary to access and spend those Digital Assets;
    • unknown technical defects inherent in Digital Assets; and
    • new regulation which impacts the use of Digital Assets.
  3. You must not mine, buy, sell, exchange, hold, own or otherwise use or exploit Digital Assets in any way which is prohibited by the laws or regulations which apply to you. Your Account will be immediately suspended if we become aware of any unlawful activity.
  4. Due to the fact that Digital Assets are unregulated and decentralized, their value is not insured by any legal entities. The value of any amount of any Digital Asset realized through participation in SVPool is subject to change due to a number of factors out of the control of SVPool. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties causing Gross Payout to change and the fluctuating price (in fiat currency to Digital Asset exchange rate, such as USD/BSV, which will depend on which exchange you liquidate your Digital Assets) of Digital Assets. You understand and agree that the value of any Payout, and any amount of mined Digital Asset, may lose all value at any moment of time due to the nature of Digital Assets.
  5. You understand that you are solely responsible for management of the Digital Assets in your Wallet.
  6. Any information related to Digital Asset and Digital Asset mining that is/was posted, published and/or provided by SVPool via any channel of communication (including but not limited to: on the Website, in via email newsletter, in social media) is informational only and is subject to change.
  7. There is risk associated with hacking the Service, including denial of services attacks, malware attacks, mining attacks or consensus-based attacks.
  8. There are risks associated with usage of the Service through internet including the failure of hardware, software, configuration and internet connections. Without limitation SVPool will not be responsible for any configuration, connection or communication failures, disruptions, errors, distortions or delays Participant may experience when using SVPool Service, howsoever caused.
  9. IT IS NOT POSSIBLE FOR US TO STATE DEFINITIVELY HOW MANY DIGITAL ASSET UNITS, IF ANY, WILL BE MINED DURING ANY PAYOUT PERIOD.
  10. Participant acknowledges and agrees that the foregoing is informational only and is not an exhaustive list of all risks – in addition to the risks disclosed above, there are risks that SVPool cannot foresee.
  11.  

H. Mining Pool Operation

  1. We endeavor to provide continuous uninterrupted Mining Pool operation, so the Participant can provide the Contribution any time. However, the Participant acknowledges that due to the maintenance, repairs or exceptional outages we do not guarantee absolutely uninterrupted (100%) availability of the Mining Pool.
  2. If the Mining Pool is unavailable due to a planned temporary maintenance shutdown, SVPool shall inform the Participant thereof via email or in any other suitable way, if possible.
  3. Neither SVPool nor any other person providing the operation of the Mining Pool are liable for any damage incurred by the Participant as a consequence of planned or unplanned shutdown or outage of the Mining Pool.
  4. The Participant is solely responsible for setting up its hardware in a way that allows the hardware to reconnect to the Mining Pool automatically when the Mining Pool becomes available after a shutdown or outage.

I. Term and Termination

  1. The Participant may terminate the Agreement, and close their Account at any time, following settlement of any pending transactions.
  2. The Participant also agrees that SVPool may, by giving notice, at its sole discretion terminate their access to the Service and to their Account, delay or remove hosted content, and take technical and legal steps to terminate the Participant’s use of the Service if the Participant is in breach of the Agreement.
  3. SVPool may, by giving notice, at its sole discretion terminate access to the Service for more than one or all participants.
  4. Accounts which are inactive for longer than six (6) months (no mining activity) may be deleted after three (3) email warnings. Remaining Payout or shares associated with the Account will be considered a donation to the Mining Pool with no further attribution or obligation to Participant.
  5. Upon termination, the Participant Account will be closed, and access to the Service revoked, and any Payout accrued up to the effective date of such termination paid into the Wallet of the Participant.
  6. Without limiting any other rights we have, we may suspend access to your Account, and the Service, if you breach this Agreement, or if we have grounds to suspect that you are using the Service fraudulently or improperly until you are able to demonstrate to our satisfaction your identity and that no fraud or impropriety has occurred or been attempted.
  7. If you become aware of or suspect another person’s breach of this Agreement or any fraud or impropriety in connection with the Service, you must contact us immediately.

J. Use of Your Account

  1. You may only participate in the Mining Pool for your own benefit directly or through your registered administrator. By using the Service you confirm that you are not acting for the benefit of any other person or entity other than as expressly identified on your registration application.  Your administrator may not act for any other Participant.
  2. We are entitled to assume that any use of your Account is made by you. You are solely responsible and liable for any use of the Service under your Account or any other use of your username and password.
  3. You may only hold one Account. If you forget your username or password, you can use the password recovery option or contact SVPool support.
  4. DO NOT SHARE YOUR USERNAME AND PASSWORD WITH ANY OTHER PERSON OR ALLOW ANY OTHER PERSON TO USE YOUR ACCOUNT. WE ARE NOT LIABLE FOR ANY IMPROPER USE OF YOUR USERNAME, PASSWORD OR ACCOUNT BY YOU OR ANY OTHER PERSON. IF YOU HAVE REASONS TO ASSUME THAT ANY OTHER PERSON KNOWS YOUR USERNAME OR PASSWORD, OR THAT YOUR ACCOUNT HAS BEEN USED BY ANY OTHER PERSON, YOU MUST INFORM US IMMEDIATELY.

K. Payout

  1. In consideration of the Contribution, SVPool shall pay Participant a Payout in accordance with the Payout Schedule, the amount of which is determined by the Payout Algorithm. SVPool reserves the right to change the Payout Algorithm at any time with ten (10) day prior notice published on the Website.  The amount of the Payout shall be any positive value of the Withdrawal Minimum Amount at the Payment time. If the Withdrawal Minimum Amount is negative, any accrued Gross Payout in the Account shall be reduced to zero (0) at the Payment Time. 
  2. In case of a so called “fork”, that that may arise where a mined block is not accepted to the main blockchain (a so called orphaned block), the Participant is not entitled to any remuneration or reimbursement of any costs incurred in relation to mining the particular block.
  3. In case of so called “hard fork”, when a blockchain is divided into two distinct chains to create a new Digital Asset, SVPool shall reserve the right to support or cease the continued mining of the forked coins, in which case we may not be able to provide mining rewards for the forked coins. 
  4. In the case of any dispute regarding the amount of the Payout, the calculation of the Payout determined by SVPool acting reasonably, shall govern.
  5. The Payout will be transferred to your Wallet. Participant is solely responsible for the accuracy of the Wallet address for the purpose of the Payout.
  6. Neither the Mining Pool, nor your Account, are an e-wallet or a bank for your coins. SVPool is not responsible for any loss of coins from your Wallet. It is your responsibility to configure your Account so that the Payout may be transferred to your own Wallet.
  7. It is the responsibility of the Participant to determine what, if any, taxes apply to the transactions it completes in connection with the Service, and to report and remit the correct tax to the appropriate tax authority. Participant agrees that SVPool is not in any case and under no conditions responsible for determining whether taxes apply to these transactions.

L. Restrictions and Obligations

  1. You agree to comply with all applicable laws and regulations, this Agreement and all rules applicable to the use of the Service.
  2. You agree not to falsely describe or otherwise misrepresent yourself in any dealings with SVPool.
  3. You are not allowed to abuse any campaigns, promotions or discounts provided from time to time in connection with the Service.
  4. You are not allowed to use any means to mask your internet traffic and IP address (such as Proxy, Tor, VPN and others).
  5. Each Participant is prohibited from using the Mining Pool in any way in connection with Multi-Level Marketing (MLM) and/or High-Yield Investment Projects (HYIP) systems.
  6. You are strictly forbidden to use or exploit errors in design of the Website, the Service and/or all and any of their parts, features which have not been documented, and/or “program bugs” for commercial/personal gain or as means to disrupt and/or destabilize the Service. If you encounter such an error by accident, you are required to report your findings to SVPool via [email protected]
  7. You are prohibited from directly or indirectly using botnets. Accounts with a large amount of participants connecting from different IP addresses may be suspended without prior notice.
  8. Participants suspected of dishonest, fraudulent or illegal activities may be banned without prior notice.
  9. The uptime of the Service is not guaranteed; maintenance and downtime may be required at times. Participants are responsible for configuring their Blockchain Computers so that they will automatically reconnect or switch to a backup pool in the case of downtime.
  10. For greater certainty, maintenance of each Blockchain Computer of the Participant is the responsibility of the Participant.
  11. We are entitled not to accept the computing power offered by the Participant without having to give a reason, either temporarily in regard to all participants (i.e. technical problems), or merely from specific participant’s (account suspensions).
  12. You agree not to use the Service in any way which is unlawful, may give rise to civil or criminal liability for SVPool, or may bring SVPool into disrepute.

M. Indemnity

  1. You hereby agree to indemnify and hold SVPool, its affiliates and their respective officers, employees, agents and providers harmless from and against any and all liability and costs (including reasonable legal fees) incurred by them in connection with any claim arising out of:
    • any fraud or fraudulent misrepresentation, or negligence or negligent misrepresentation, you commit;
    • any inaccuracy or defect of any of the information you have provided to us;
    • any breach of applicable law or regulation you commit;
    • any breach by you of this Agreement; and
    • your use of the Service, or any use of your Account (whether or not such use was by you).
  2. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You shall cooperate with us, at your own expense, in the defense of any claim.

N. Liability

  1. We provide and maintain the Website and the Service on an “AS IS” and “AS AVAILABLE” basis.
  2. To the maximum extent permitted by applicable law, we give no and actively disclaim all other representations, warranties, covenants and conditions, whether express, implied, statutory or otherwise, in connection with the Service, including merchantability, suitability, reliability, availability, timeliness, accuracy, satisfactory quality, fitness for a particular purpose or quality, title and non-infringement, and without limitation actively exclude all liability for:
    • accuracy, currency or validity of information and material contained within and/or provided by the Website and otherwise by the Service, in email newsletters and social media, noting without limitation that occasional technical disruptions and human error may affect the Service and result in misrepresentation of content or miscommunication;
    • any change in the exchange rate of any Digital Asset;
    • any change in the difficulty of mining;
    • any changes in applicable law or regulation, or the acts of any legislator or regulator;
    • any interruptions to or error of the Website or the Service otherwise or other communications network;
    • any amount or kind of loss or damage due to viruses or other malicious software that may infect a user’s computer equipment, software, data or other property caused by accessing the Service;
    • any failure of the Service to be uninterrupted, harmless, secure or not corrupt or damaged, meet Participant’s requirements, achieve any intended results, be compatible or work with any other software, applications, systems or services, meet any performance standard or be error free, or to correct any errors or defects; and
    • all other representations, warranties, covenant and conditions which, but for this notice, would have effect.
  3. We will not be liable in any amount for any failure to perform any obligation under this Agreement if that failure is caused by the occurrence of an event beyond our reasonable control.
  4. SVPool, its affiliates and their respective officers, employees and agents to the maximum extent permitted by applicable law, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of the Service, or inability to use the Service or under any other document or agreement executed and delivered in connection herewith or contemplated hereby, will not be liable to Participant or anyone else, for any damages of any kind, including direct, consequential, incidental, special or indirect damages including lost profits, losses or damages; loss of anticipated savings; loss of business opportunity and management time; loss of goodwill; loss of Digital Asset arising as a result of any of your acts or omissions or those of any third party; loss arising out of or in connection with: any defect or insecurity in any systems you use to store or transmit Digital Asset or to access or use the Service; any inaccurate or incomplete information you provide, including Wallet addresses; any changes to the amount of Digital Asset awarded to Participants; any changes to the regulatory, legislative or technical environment applicable to Digital Assets; the acts or omissions of any bank or provider of banking services; or any change in the value of Digital Asset howsoever arising (including as a result of the acts or omissions of SVPool).
  5. You agree that the allocation of liability set out in this Agreement is reasonable and appropriate in light of the nature of the Service.

O. Intellectual Property

  1. SVPool retains all copyright and other intellectual property rights in connection with the Service, including inventions, discoveries, knowhow, processes, marks, methods, compositions, formulae, techniques, information and data, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyrights or patents based thereon over all content and other materials contained on the Website or provided in connection with the Service, including, the SVPool logo and all designs, text, graphics, pictures, information, data, software, source code, as well as the compilation thereof, sound files, other files and the selection and arrangement thereof. These material is protected by copyright laws and other intellectual property right laws.
  2. SVPool hereby grants Participant a limited, nonexclusive, revocable, non-transferrable and non-sublicensable license to access and use the Service for the personal or internal business use of the Participant (the “Purpose”). Such license is subject to this Agreement and does not permit any resale, the distribution, public performance or public display, modifying or otherwise making any derivative uses, use, publishing, transmission, reverse engineering, participation in the transfer or sale, or any way exploit any of the copyrighted work and other intellectual property other than for the Purpose. This granted license will automatically terminate if SVPool suspends or terminates access to the Account or the Service.

P. Participant’s Personal Data

  1. SVPool represents that the collection of Participant’s personal data shall be limited as much as possible.
  2. Any collection, storage and handling of the Participant’s personal data collected by SVPool due to Mining Pool activities, in particular personal data specified by the Participant upon the creation of their user account, shall be governed by separate set of terms on handling the personal data of Participant, which is governed by applicable privacy law.
  3. The Participant is responsible for maintaining the confidentiality of his/her or its account’s credentials, including, but not limited to a password, email, wallet address, balance, and of all activity made through the account

Q. Participant Representations

  1. The Participant hereby represents that it is duly established and existing in accordance with the law that governs its establishment and existence, respectively, that it has all due authorizations permitting it to undertake the obligations assumed by this Agreement.
  2. The person acting as administrator on behalf of the Participant hereby further represents that he or she is authorized to act on behalf of the Participant and to undertake obligations pursuant to this Agreement.
  3. You hereby further represent that you have not previously been a user of the SVPool, whose Account was deleted, unless the Account was deleted on a request of the Participant or due to inactivity of the Participant.
  4. The Participant represents, that all of the information given to SVPool or submitted to the Website are true and complete.
  5. You hereby acknowledge, that you are responsible for obtaining necessary information about tax or similar obligations arising in relation to your Contributions to the Mining Pool and any Payout you may receive. The Participant hereby further acknowledges that we are not responsible neither for obtaining the above-mentioned information nor for fulfillment of such tax (or similar) obligations.
  6. The Participant represents, that all activities carried out pursuant to this Agreement comply with the laws of the countries, where the Participant is located or to which they must comply for other reasons.
  7. The Participant undertakes in particular not to abuse any of the SVPool’s mining mechanisms, processes, mistakes, bugs or imperfections in programming or errors in the respective blockchain network to advantage or disadvantage some participants in SVPool mining, or to disrupt the operation or the availability of the Mining Pool. The term “abuse” includes but is not limited to any attempted hacking or other factual offensive attack, such as withholding attack, botnet attack etc. Any hacking or other factual offensive attack against other participants in SVPool is also considered to be abusive within the meaning of this Section, if its purpose is to advantage or disadvantage any of the participants or to disrupt the operation or availability of the Mining Pool.

R. Force Majeure

  1. If we are unable to perform the Mining Pool services outlined due to factors beyond our control including but not limited to a Force Majeure Event, we will not have any responsibility to the Participant with respect to the Services and for a time period coincident with the event.

S. General

  1. Our failure to enforce any term of this Agreement does not constitute our waiver of that term.
  2. If any part of this Agreement is found to be unenforceable, it will be amended to the minimum extent necessary to make it enforceable and the remainder of the provisions will remain in full force and effect.
  3. Without limitation, no representation, warranty or covenant is made as to whether the Website or the Service complies with the laws of any jurisdiction.
  4. The parties submit to the exclusive jurisdiction of the courts of the Cayman Islands. These terms of service are subject to and interpreted in accordance with the laws of the Cayman Islands.
  5. The Website may be presented in multiple languages. In the case of a conflict between translations, the English version will prevail.
  6. SVPool will be entitled to assign and otherwise transfer the Agreement. You may not assign or otherwise transfer the Agreement.

 


 

Schedule A: Pool Fee

  • Pool Fee: 1.0% of Gross Payout. 
  • Minimum payout: Digital Asset equivalent value of $US1.00 based on the prevailing price of the applicable Digital Asset on coinmarketcap.com at the time of Payout.

 

Schedule B: Actual Contribution and Gross Payout

Actual Contribution:

Share = a potential hash solution forwarded to SVPool with an attributed difficulty as set by SVPool from time to time.

N = difficulty window represented by 5 times the network difficulty target.

B = The block we are calculating the reward for.

All Shares contributed in the N window by the user, ending at the time B was mined, are aggregated. The ratio of Shares that each user has contributed to total Shares in the N window contributed by all participants is determined. This is the users Actual Contribution.

Actual Contribution = Total difficulty of Shares received from participant within the N window / total difficulty of all Shares in the N window contributed by all participants (including the user)

Gross Payout (for a particular found block B):

Period = the time since the last Payout according to the Payout Schedule.

BR = Block rewards in the form of Digital Assets actually received by SVPool during the Period. BR varies over time depending on the blockchain algorithm that is being mined. BR shall include 10% of any transaction fees associated with mining the relevant blockchain.

Gross Payout = Actual Contribution x BR

 

Schedule C: Payout Algorithm – Pay Per Last N Shares (“PPLNS”)

Pay-Per-Last N Share” system rewards miners based on blocks that have been found by the pool. Once a block has been found, the pool goes “back in time,” and checks for valid shares contributed before the winning block. This is called a time window. Miners Gross Payout is credited during the Period based on the valid shares that they have sent in that time window.

 

Figure 1: Time Window of N shares1

 


1 Nicehash How mining pools distribute rewards? –

https://www.nicehash.com/blog/post/how-mining-pools-distribute-rewards-pps-vs-fpps-vs-pplns