Validator as a Service (“VaaS”) Agreement, between GTel Networks, Inc. (“GTel”) and Staker.
GTel provides managed validator staking services, using the highest performing hardware in the Helium ecosystem, and hosted in our privately owned data center. By Staking your HNT with a GTel Validator, both GTel and Staker agree to the following:
GTel agrees to:
- Provide a managed Validator service to Staker for each 10,000HNT that they stake to a validator hosted by GTel.
- Provide 24/7 performance and uptime monitoring for validator hardware.
- Update to GA and emergency validator releases in a timely fashion. GTel will never canary your validator, unless you specifically request us to do so, in writing.
- Implement OS security updates in a timely fashion.
- Apply all performance enhancements learned by GTel and testing on our own validators.
- Not to oversubscribe the hardware in a way that will cause performance penalties.
- Maintain spare hardware for failover redundancy, in the event of validator hardware failure.
- Strive to provide 99.999% uptime for the Staker’s validator, excluding scheduled maintenance windows and acts or events outside the control of GTel.
- Invoice Staker on or about the first of the month, for 8% of the HNT earned by Staker’s validator(s) for the previous month.
Staker agrees to:
- Purchase and safeguard their 10,000HNT, for each validator they stake with GTel.
- Transfer 8% of the HNT earned by their GTel Validator(s) to the GTel wallet address provided to Staker, as shown on the monthly invoice, within 72 hours of receiving the monthly invoice. Staker’s Validator(s) will shut down if payment is not received within seventy-two (72) hours.
- Minimum term for shared staking is thirty (30) days.
- Minimum term for dedicated staking is twelve (12) months.
- For existing staked validators that are transferred to GTel’s shared staking service, which have existing penalty points higher than the network average of approximately 4.19, the minimum term is forty-five (45) days. This is to ensure that you can measure the success of your validator over a full thirty (30) days after dropping below the network average penalties.
- After the initial term, Staker is free to decommission their GTel validator at any time. If you unstake your validator, keep in mind that Helium’s policy is that your 10,000HNT remains locked for the duration of the cool down period, which is approximately six (6) months from when you unstake.
- GTel VaaS is a non-custodial service, which means that GTel never requires access to your HNT or to your wallet.
- DO NOT EVER share your 12- or 24-word recovery phrase with anyone, including any employee or representative of GTel.
- If anyone from GTel, or anyone that purports to be related to or affiliated with GTel, asks for that information or for any information you are uncomfortable sharing, you should immediately report the incident to clientservices @ gtelnetworks.com with as much detail as possible.
- Reminder: DO NOT EVER share your 12- or 24-word recovery phrase with anyone unless you intend to give them all of your crypto.
Limitation of Liabilities and Remedies:
- For any claim concerning the performance or nonperformance by GTel pursuant to, or in any other way related to the subject matter of this Agreement, Stake shall be entitled to recover actual damages to the limit set forth herein. EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT, SERVICE PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR CONFORMITY TO ANY REPRESENTATION OR DESCRIPTION.
- The liability of GTel for damages (regardless of the form of action, whether in contract or in tort) shall in no event exceed the amount paid by Staker to GTel during the preceding one (1) month under this Agreement. GTel will not be liable to Staker, or to any other person, for any claim or damage arising, directly or indirectly, from the furnishing of services or equipment pursuant to this Agreement or from interruption or loss of use thereof, or from any other cause whatsoever, except to the extent provided in this section. IN NO EVENT WILL EITHER PARTY BE LIABLE FOR ANY LOSS OF BUSINESS OR PROFITS OR OTHER SPECIAL OR CONSEQUENTIAL DAMAGES EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY CLAIM AGAINST CLIENT BY ANY OTHER PARTY.
- Any proprietary information relating to the business operations of either party, or their respective parent or affiliated companies, obtained by the other party as a result of the performance hereunder, including but not limited to, the identity of the other party’s or its affiliates’ and customers, business processes and techniques, pricing and guidelines, research and development, shall be deemed confidential and shall not be disclosed by either party to any third party without prior written consent. These provisions may be enforced by injunction without the necessity of proving actual damages or posting a bond.
- Each party shall indemnify and save harmless the other, its parent, subsidiaries and affiliates, and the respective directors, officers, employees and agents of any of them, and other clients from any and all claims, liabilities, demands, losses, damages, and causes of action relating to personal injury, death, or property damage, including all expenses arising out of the intentional or negligent acts or omissions of either party in the performance or nonperformance of either party.
June 3rd, 2022