The Cloud Rush Staking, Pledging, and Mining Rules (“Rules”) govern your use of the Platform and any associated Hardware to stake, mine, pledge, earn Rewards, or pool Digital Currency, specifically in the form of Filecoin (collectively referred to as “Hosting Services”) as permitted by us. These Rules are integrated into and subject to the Cloud Rush Terms of Service (“Terms”) and that certain Hosting and Mining Equipment Purchase Agreement entered into by Cloud Rush and you (the “HM Agreement”) in connection with the Terms and these Rules, and, together, form one in the same agreement. Any capitalized terms not defined within the Rules are defined within the Terms. Where the Terms and the Rules directly conflict, the Terms shall supersede and control.
The Hosting Services (including the Rules governing such Hosting Services) that are offered by Cloud Rush may be modified, updated, discontinued, or otherwise changed from time to time at our discretion. Where we modify such Rules, you must agree to our update Rules prior to your continued use of the Hosting Services. You may only use the Hosting Services as permitted by us and only after complying with all Cloud Rush instructions and procedures. Subject to these Rules, the Terms, Third Party Rules (defined below), and governmental rules or regulations, the Hosting Services are offered “as-is” without any warranty. You acknowledge that problems may arise during your use of the Hosting Services that are not controllable by Cloud Rush. Such problems may include but are not limited to hacks, network instability, hardware damage, system/network issues, system glitch, or other problems which may cause Hosting Services to be disrupted or otherwise cease. You release Cloud Rush from any liability related to your use of the Hosting Services and agree that you are solely responsible for your use of the Hosting Services.
The Hosting Services are created using Digital Currency Technology that is subject to rules and procedures (“Third Party Rules”) created by a third party (“Third Parties”) that may be found at www.spec.filecoin.io and that may be updated from time to time. Cloud Rush has no control over the Third Party Rules, or any Third Parties and you understand that portions of the Hosting Services are subject to the Third Party Rules and Cloud Rush cannot be responsible for any issues with the Hosting Services, Third Parties, or any Third Party Rules outside of its control. Cloud Rush does not introduce, endorse, or otherwise warrant any Third Parties or any service offered by such Third Parties. You are solely responsible for your use of the Hosting Services and your relationships with any Third Parties encountered through your use of the Hosting Services any agreements entered into between you and any Third Parties are solely between you and such Third Party. Cloud Rush is not a party to any such agreement. You agree to comply with all Third Party Rules when using the Hosting Services and you agree to release Cloud Rush from any liability associated with any issues or changes made to any Third Party Rules. After any Pledged Digital Currency leaves your Hosted Wallet at your direction, Cloud Rush shall have no control of the Pledged Digital Currency and cannot retrieve any such Pledged Digital Currency until it is released by any Third Parties subject to their Third Party Rules. You release Cloud Rush from any liability related to the loss or inability to retrieve any Pledged Digital Currency once it has been removed from your Hosted Wallet.
In order to use the Hosting Services offered through the Platform, you may be required deposit and pledge Digital Currency (“Pledged Digital Currency”) pursuant to the Third Party Rules governing the “Sector Sealing” process as more fully described and defined in the following Third Party “Sector Sealing Information”: https://spec.filecoin.io/systems/filecoin_mining/sector/sealing/. The Sector Sealing process may last as long as thirty (30) days (the “Sealing Cycle”), if not longer, unless there exists a host of reasons and factors causing a delay to the Sealing Cycle, based upon the sole determination of Cloud Rush (collectively, the “Sealing Delay Factors”). You acknowledge and understand that the Sealing Delay Factors are outside of our control, and can be, without limitation, the following: (i) a Third Party has changed, modified, or amended its Third Party Rules for how the Sector Sealing process occurs, (ii) you failed to provide the requisite amount of Pledged Digital Currency, (ii) you delayed in providing the requisite amount of Pledged Digital Currency, or (iv) there is a change, modification, or amendment to the Third Party’s “Proof of Replication” process as described in the Sector Sealing Information linked herein. Pursuant to the Third Party Rules, you acknowledge and understand that you must provide the Pledged Digital Currency either the entirety upon the start of Sector Sealing, or on a daily basis in fractional amounts.
The mining of Digital Currency can occur soon after we install your Mining Equipment (as defined in the Hosting and Mining Equipment Purchase Agreement (the “HM Agreement”), which may take up to 10 days to complete unless circumstances that are outside of our control, based upon the sole determination of Cloud Rush (collectively, the “Installation Term”). Mining can occur concurrently with or immediately, up to two (2) days, after the Sealing Cycle and may for a duration of five hundred forty (540) days pursuant to the Third Party Rules (the “Mining Cycle”). You acknowledge and understand that the Sealing Process must occur in order for the Mining Cycle to begin as set forth in the Third Party Rules. Under the HM Agreement, our standard contract term for our Hosting Services (as defined in the HM Agreement), will include three (3) Mining Cycles, or one thousand six hundred twenty (1,620) days. Together, the entirety of the Installation Term, the Mining Cycle and the Sealing Cycle may last as long as one thousand six hundred ninety (1,690) days (the “Total Cycle Term”), inclusive of an extra thirty (30) days to account for the occurrence of any Sealing Delay Factors, or any other variables causing a delay in the Installation Term, Mining Cycle, Sealing Cycle, or any other component to the mining, pledging, sealing, or installation process in connection with your Digital Currency.
Please be aware that the Total Cycle Term may be increased, decreased, modified or updated from time to time subject to our policies or any Third Party Rules. Where any Total Cycle Term is delayed by you for any reason, please be aware that the Total Cycle Term may be increased subject to our policies and any Third Party Rules. The Pledged Digital Currency amounts can be determined by Cloud Rush and subject to Third Party Rules and may be pledged throughout the Pledge Cycle as required by Cloud Rush or the Third Party Rules. Upon pledging, the Pledged Digital Currency shall be removed from your Hosted Wallet, and you may not be able to transfer or access any Pledged Digital Currency during the Sealing Cycle.
Upon removal of the Pledged Digital Currency from your Hosted Wallet, your Pledged Digital Currency shall be held in a wallet controlled by a Third Party with Mining Pool identification number F01072221 (“Third Party Mining Pool”). Please be aware that your Pledged Currency may be moved to a different Third Party Mining Pool, or such Third Party Mining Pool identification number may be changed or re-identified, where this occurs Cloud Rush shall notify you of such change. Cloud Rush does not have any control of any Third Party Mining Pool wallets including any private or public keys where your Pledged Digital Currency is held during a Sealing. During a Sealing Cycle any questions or issues regarding your Pledged Digital Currency should be directed to the Third Party Mining Pool. Cloud Rush cannot resolve any issues you may have with any Third Party Mining Pool and the Pledged Currency shall be subject to all Third Party Rules while it is held in such Third Party Mining Pool. The Third Party Mining Pool may deduct any fees or costs for any Rewards (defined below) or returned Pledged Digital Currency subject to their policies, please review and agree to all Third Party Mining Pool rules and agreements prior to using any Hosting Services. Cloud Rush is not a party to any agreements that you may enter into with any Third Party Mining Pool.
Where you attempt to access or transfer your Pledged Digital Currency during a Mining Cycle, no Digital Currency be returned until at least thirty (30) days after the end date of the relevant Mining Cycle and some Rewards may not be provided or may be forfeited to Cloud Rush or a third party subject to Cloud Rush’s internal policies or any Third Party Rules. Upon expiration of the relevant Mining Cycle, the Pledged Digital Currency minus any transaction fees, gas fees, other costs, or pledging costs required by Cloud Rush or any Third Party Rules, shall be returned to your Hosted Wallet. Where you have insufficient amounts of Digital Currency in your Hosted Wallet to satisfy any quantities required for a particular Mining Cycle or Sealing Cycle, you may be required to deposit additional Digital Currency as required. Failure for you to deposit and pledge any additional Digital Currency may result in the forfeiture of your Pledged Digital Currency or a delay in any of portions of the Total Cycle Term.
In return for pledging your Pledged Digital Currency, you may receive mining rewards of Digital Currency (“Rewards”) which are subject to Cloud Rush’s policies and the Third Party Rules. Please be aware that any Rewards are determined by the Digital Currency Technology and any Third Party Rules and Cloud Rush has no control over any Rewards given for any Pledged Digital Currency. The Rewards may be subject to a vesting period (“Vesting Period”), the Vesting Period is determined by the Digital Currency Technology and applicable Third Party Rules. Please be aware that any Rewards may not be deposited in your Hosted Wallet until after the expiration of the Vesting Period for any Rewards received. For more information regarding the Rewards and vesting schedule please visit: www.spec.filecoin.io
YOU UNDERSTAND THAT USING IN THE MINING SERVICES CARRIES HIGH LEVELS OF RISK. YOU AGREE THAT YOU MAY NOT RECEIVE ANY REWARDS FROM YOUR USE OF THE MINING SERVICES AND MAY LOSE ALL OR A PORTION OF YOUR PLEDGED DIGITAL CURRENCY. YOU RELEASE CLOUD RUSH FROM ANY LIABILITY RELATED TO YOUR USE OF THE MINING SERVICES, YOUR FAILURE TO RECEIVE ANY OR ALL REWARDS, OR ANY LOSSES TO YOUR PLEDGED DIGITAL CURRENCY.
You agree that you have no right to any Rewards until it is received by Cloud Rush. Rewards will be distributed to your Hosted Wallet within a commercially reasonable time after they are received by Cloud Rush. Any Rewards rates listed on the Platform are estimated Reward rates of return and are not a guarantee of return on any Pledged Digital Currency. Please be aware that the Reward rate is an estimate and changes over time. The Reward rate could possibly increase or decrease and is not controlled by Cloud Rush. CLOUD RUSH DOES NOT GUARANTEE THAT YOU WILL RECEIVE ANY REWARDS WHEN USING THE MINING SERVICES, ANY SPECIFIC REWARD AMOUNTS, OR ANY REWARDS OVER TIME. IT IS POSSIBLE THAT YOU MAY RECEIVE NO REWARDS OR LOSE ALL OR A PORTION OF YOUR PLEDGED DIGITAL CURRENCY WHEN USING ANY MINING SERVICES.
During each Mining Cycle some portions of your Digital Currency may be returned to your Hosted Wallet subject to our policies or any Third Party Rules. Please be aware that at the end of each Mining Cycle there may be a delay in returning your Pledged Digital Currency to your Hosted Wallet.
Where the Hosting Services display an incorrect calculation of Digital Currency delivered to your Hosted Wallet, you must contact Cloud Rush immediately within five (5) days. Failure to promptly contact Cloud Rush shall cause you to forfeit the right to receive any miscalculated Digital Currency. Please be aware that some errors are not under the control of Cloud Rush and Cloud Rush may not be able to remediate such error.
You shall be required to maintain an adequate amount of Digital Currency to consume as gas (“Gas”) to process Pledged Digital Currency transactions requested by you to and from your Hosted Wallet. Where you fail to maintain adequate Gas amounts you understand that you will be unable to partake in any transactions using your Hosted Wallet. We shall not be responsible for any delay in any transactions due to inadequate Gas within your account. Please be aware that any Gas used cannot be returned and all Gas consumption is subject to the Digital Currency Technology rules and Third Party Rules.
Cloud Rush reserves the right to terminate the Hosting Services at its discretion and without liability to you. Where you terminate your use of the Hosting Services during a Total Cycle Term all or a portion of your Pledged Digital Currency may be forfeited in accordance with any Third Party Rules and Cloud Rush’s policies.
The Hosting Services may be subject to fees as set forth within the HM Agreement, Platform or your account, more information can be found here: https://www.cloudrush.io/copy-of-support