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Terms of Use

Effective as of Oct 14, 2020

By downloading, accessing or using the Prysm implementation (“Prysm”), you (referenced herein as “you” or the “user”) certify that you have read and agreed to the terms and conditions below (the “Terms”) which form a binding contract between you and Prysmatic Labs (referenced herein as “we” or “us”). If you do not agree to the Terms, do not download or use Prysm.

About Prysm

Prysm is a client implementation for Ethereum consensus protocol for a proof-of-stake blockchain. To participate in the network, a user must send ETH from the Eth1.0 chain into a validator deposit contract, which will queue in the user as a validator in the system. Validators participate in proposing and voting on blocks in the protocol, and the network applies rewards/penalties based on their behavior. A detailed set of installation and usage instructions as well as breakdowns of each individual component are available in the official documentation portal, however, we do not warrant the accuracy, completeness or usefulness of this documentation. Any reliance you place on such information is strictly at your own risk.

Licensing Terms

Prysm is a fully open-source software program licensed pursuant to the GNU General Public License v3.0.

The Prysmatic Labs name, the term “Prysm” and all related names, logos, product and service names, designs and slogans are trademarks of Prysmatic Labs or its affiliates and/or licensors. You must not use such marks without our prior written permission.

Risks of Operating Prysm

The use of Prysm and acting as a validator on the Ethereum network can lead to loss of money. Ethereum is still an experimental system and ETH remains a risky investment. You alone are responsible for your actions on Prysm including the security of your ETH and meeting any applicable minimum system requirements.

Use of Prysm and the ability to receive rewards or penalties may be affected at any time by mistakes made by the user or other users, software problems such as bugs, errors, incorrectly constructed transactions, unsafe cryptographic libraries or malware affecting the network, technical failures in the hardware of a user, security problems experienced by a user and/or actions or inactions of third parties and/or events experienced by third parties, among other risks. We cannot and do not guarantee that any user of Prysm will make money, that the Prysm network will operate in accordance with the documentation or that transactions will be effective or secure.

We make no claims that Prysm is appropriate or permitted for use in any specific jurisdiction. Access to Prysm may not be legal by certain persons or in certain jurisdictions or countries. If you access Prysm, you do so on your own initiative and are responsible for compliance with local laws.

Some Internet plans will charge an additional amount for any excess upload bandwidth used that isn’t included in the plan and may terminate your connection without warning because of overuse. We advise that you check whether your Internet connection is subjected to such limitations and monitor your bandwidth use so that you can stop Prysm before you reach your upload limit.

Warranty Disclaimer

PRYSM IS PROVIDED ON AN “AS-IS” BASIS AND MAY INCLUDE ERRORS, OMISSIONS, OR OTHER INACCURACIES. PRYSMATIC LABS AND ITS CONTRIBUTORS MAKE NO REPRESENTATIONS OR WARRANTIES ABOUT PRYSM FOR ANY PURPOSE, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OR ANY OTHER IMPLIED WARRANTY UNDER THE UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT AS ENACTED BY ANY STATE. WE ALSO MAKE NO REPRESENTATIONS OR WARRANTIES THAT PRYSM WILL OPERATE ERROR-FREE, UNINTERRUPTED, OR IN A MANNER THAT WILL MEET YOUR REQUIREMENTS AND/OR NEEDS. THEREFORE, YOU ASSUME THE ENTIRE RISK REGARDING THE QUALITY AND/OR PERFORMANCE OF PRYSM AND ANY TRANSACTIONS ENTERED INTO THEREON.

Limitation of Liability

In no event will Prysmatic Labs or any of its contributors be liable, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, breach of statutory duty or otherwise arising out of, or in connection with, your use of Prysm, for any direct, indirect, incidental, special or consequential damages (including any loss of profits or data, business interruption or other pecuniary loss, or damage, loss or other compromise of data, in each case whether direct, indirect, incidental, special or consequential) arising out of use Prysm, even if we or other users have been advised of the possibility of such damages. The foregoing limitations and disclaimers shall apply to the maximum extent permitted by applicable law, even if any remedy fails of its essential purpose. You acknowledge and agree that the limitations of liability afforded us hereunder constitute a material and actual inducement and condition to entering into these Terms, and are reasonable, fair and equitable in scope to protect our legitimate interests in light of the fact that we are not receiving consideration from you for providing Prysm.

Indemnification

To the maximum extent permitted by law, you will defend, indemnify and hold Prysmatic Labs and its contributors harmless from and against any and all claims, actions, suits, investigations, or proceedings by any third party (including any party or purported party to or beneficiary or purported beneficiary of any transaction on Prysm), as well as any and all losses, liabilities, damages, costs, and expenses (including reasonable attorneys’ fees) arising out of, accruing from, or in any way related to (i) your breach of the terms of this Agreement, (ii) any transaction, or the failure to occur of any transaction on Prysm, and (iii) your negligence, fraud, or willful misconduct.

Compliance with Laws and Tax Obligations

Your use of Prysm is subject to all applicable laws of any governmental authority, including, without limitation, federal, state and foreign securities laws, tax laws, tariff and trade laws, ordinances, judgments, decrees, injunctions, writs and orders or like actions of any governmental authority and rules, regulations, orders, interpretations, licenses, and permits of any federal, regional, state, county, municipal or other governmental authority and you agree to comply with all such laws in your use of Prysm. The users of Prysm are solely responsible to determinate what, if any, taxes apply to their ETH transactions. The owners of, or contributors to, Prysm are not responsible for determining the taxes that apply to ETH transactions.

Miscellaneous

These Terms will be construed and enforced in accordance with the laws of the state of Illinois as applied to agreements entered into and completely performed in Illinois. You agree to the personal jurisdiction by and venue in Illinois and waive any objection to such jurisdiction or venue.

We reserve the right to revise these Terms, and your rights and obligations are at all times subject to the then-current Terms provided on Prysm. Your continued use of Prysm constitutes acceptance of such revised Terms.

These Terms constitute the entire agreement between you and Prysmatic Labs regarding use of Prysm and will supersede all prior agreements whether, written or oral. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms of these Terms.

If any portion of these Terms is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible. The failure of a party to require performance of any provision will not affect that party’s right to require performance at any time thereafter, nor will a waiver of any breach or default of these Terms or any provision of these Terms constitute a waiver of any subsequent breach or default or a waiver of the provision itself.