Staking Risks
- Staking Rewards are reflected by the BI/[N] Conversion Rate and each user’s amount of Staked Assets. The BI/[N] Conversion Rate is based on the prevailing and applicable [N] validator-node APR and the Staking Fee charged by Bicoins, each of which may change from time to time. All On-Chain Rewards will be retained by Bicoins and participants in [N] Staking will only receive the Staking Rewards, which will be less than the On-Chain Rewards due to the Staking Fee.
- Users may not be able to redeem the entirety of their Staked Assets in a single redemption request and may be required to submit multiple redemption requests over a period of time. Due to potential processing limitations on the [N] network caused by network failure or congestion, redemptions may be subject to limitations set by Bicoins. You can check the delivery date and status for submitted redemption requests here. BI/[N] in respect of which a redemption request is being processed will not reflect, accrue, or otherwise be entitled to receive any further Staking Rewards.
- Redeeming Staked Assets takes time. Redeeming BI/[N] for [N] is generally expected to take approximately four (6) days once a redemption request is successfully submitted, however, the actual processing time may vary and could be significantly longer. Delivery of [N] following a redemption request or BI/[N] following a conversion request could be subject to additional delay in various circumstances including, without limitation, extreme market volatility, network delays and outages, validator or protocol failure, a significant number of simultaneous instructions to convert [N] to BI/[N] or BI/[N] to [N] from other Bicoins users or other unanticipated events. There is no guaranteed timeframe for completion of redemption or conversion requests. Because cryptocurrency prices can be highly volatile, there is a risk that the market price of [N] could be significantly higher or lower by the time the redemption request is completed and users will be unable to dispose of their Staked Assets while a redemption request is being processed. In addition, in rare or extreme situations it is possible that the value of your Staked Assets or Staking Rewards may drop to zero.
- Bicoins does not guarantee the uninterrupted or error-free operation of the [N] Staking Services or that it will correct all defects or prevent disruptions or unauthorized access. The [N] Network may be subject to unplanned disruptions or outages. Bicoins may suspend or discontinue the [N] Staking Services at its sole discretion at any time. If there is any disruption, suspension, or discontinuance of the [N] Staking Services, any Staked Assets may stop generating Staking Rewards and you may not receive any (and you may forfeit all or some) Staking Rewards. Bicoins has no liability or responsibility for and expressly disclaims any loss, liability, or damage that users may incur directly or indirectly in connection with the [N] Staking Services, including without limitation loss, liability, or damage arising directly or indirectly from interruptions, errors or defects in the [N] Staking Services, third party disruptions of or unauthorized access to the [N] Staking Services and any suspension or discontinuance of the [N] Staking Services.
- Bicoins may run promotional campaigns from time to time that are sponsored by partner projects including short-term [N] staking product offerings with higher APRs to benefit users. These higher rates may be temporary and you should consider whether the relevant offer still meets your needs once the interest rate reverts to its normal level when the promotion period expires.