NOKN stablenodes (nokencoins) and cryptocurrencies general terms and conditions
These general terms and conditions of Nokenchain’s NOKN and cryptocurrencies stablenode apply to the contractual relations between Nokenchain and the entity or person who accepts these conditions called “the Customer”.
Nokenchain designates the site https://nokenchain.net exclusively owned and operated by the company NOKENA, a company incorporated under French law, administratively domiciled in BP 1 , 88 rue d’Eaubonne, 95100 ARGENTEUIL, FRANCE, SIREN 907820229.
This contract comes into force on the date on which the Customer orders a stablenode from Nokenchain and the stablenode is installed.
ARTICLE 1 : NATURE OF THE STABLENODE AND LEGAL FRAMEWORK
“Stablenode” designates a stable node connected to the Blockchain network allowing transactions to be carried out and information to be transmitted.
This activity is, in France, income from occasional activities subject to the flat tax (Prélévement Forfaitaire Unique / PFU) at 30% in the event of capital gain.
French taxation relates ONLY to the overall capital gain of all taxable transactions carried out during the calendar year.
If the Customer is not in France, he undertakes to inquire about the taxation in his country.
ARTICLE 2 : CHARACTERISTICS OF THE STABLENODE
2.1 : A nominative and personal node
The stablenode is nominative and personal, that is to say it can only be opened to one person and only on an individual basis (no joint account), by a natural person.
2.2 : Multiple detention
The same person can hold several stablenodes.
In case of creation of a stablenode, Nokenchain, on administrative request only, may possibly be required to transmit the following information to the tax authorities : Last name, first name , gender and postal address of the Customer.
2.3 : Unlimited creations
The number of creations is not limited and there is no cap.
2.4 : Rewards and stablenode termination (general conditions)
The rewards are sent each week to the Customer’s wallet (electronic wallet).
Stablenode can be stopped on request by email. The Customer then recovers the euro value of the stablenode in its cryptocurrency (for example 100 euros of bitcoin if the Customer had a BTC 100 stablenode) on his Waves wallet. Installation fees are non-refundable.
2.5 : Duration
The stablenode is active for an indefinite period, subject to article 10 hereof.
ARTICLE 3 : CREATION OF THE STABLENODE
When requesting the creation of a stablenode, the Customer declares on honor that he meets the eligibility conditions allowing him to create one.
In the event of a creation request made remotely or following canvassing, and subject to the Customer’s right of withdrawal, the conditions of which are detailed in Article 14 hereof, the stablenode is created within 1 to 5 days depending on the payment method used.
ARTICLE 4 : HOW THE STABLENODE WORKS
The stablenode operates under the general responsibility of the Customer through the services of Nokenchain. It cannot be pledged.
An addition is reflected by the creation of a new stablenode.
A withdrawal (excluding rewards) is reflected by the stablenode being stopped.
4.1 : Minimum to create the stablenode
The creation of a stablenode requires the initial payment of a minimum amount of 50 euros (stablenode 50).
In the event of payment by check, the creation is “subject to collection”, that is to say that the stablenode is only created upon receipt of the check validated by the bank of Nokenchain.
Payment can also be made by bank transfer, credit card or cryptocurrency, issued from the Customer’s nokenchain.net account.
The Customer can make a payment whenever he wishes in order to create an additional stablenode.
4.2 : Rewards
The rewards are sent every week to the Customer’s wallet (electronic wallet), of which he is 100% responsible for managing. In the event of exceptional impediment, the rewards are kept and then sent the following week.
Once these have been received, the Customer is free to do with them what he wants.
4.3 : Other access
Under his sole responsibility, the Customer can give his wallet password (password allowing access to his electronic wallet) or his seed phrase (blockchain password composed of several words) to an other person.
Transactions carried out on the wallet by persons other than the Customer, within the framework of the powers entrusted to him by the Customer, engage the entire responsibility of the Customer.
In the event of theft on his wallet, the Customer accepts all the responsibilities and consequences as well.
ARTICLE 5 : RETURN AND TAXATION
5.1 : Yield
The rate of return of the stablenode, between 4 and 12.50%/year, and its possible variations (linked to the activities of the blockchains), is published regularly on the social networks and the blog of Nokenchain so that the Customer can have a follow-up.
The rewards arrive within 7 days once the stablenode is installed (except in exceptional cases).
They are sent until the stablenode stops.
5.2 : Taxation
Rewards may be subject to taxation (inquire for your country).
In France, if they are converted into euros and generate a capital gain, they are subject to the flat tax (Prélévement Forfaitaire Unique / PFU) of 30%.
ARTICLE 6 : PRICING
Stablenode running and stopping operations do not incur any costs.
The creation of the stablenode incurs an installation fee of 4%.
ARTICLE 7 : CUSTOMER INFORMATION – HISTORY OF REWARDS
The blockchain will keep the entries and immediately report on any transactions that have affected the account.
Nokenchain will regularly establish and send the Customer a statement (“Historique”) which he can check with a view to possibly reporting an error or omission.
This free statement (“Historique”) will be provided by email to the Customer.
ARTICLE 8 : MODIFICATION OF THE REGULATORY CONDITIONS AND GENERAL CONDITIONS
8.1 : Modification of regulatory conditions
Any legislative or regulatory measure affecting the stablenode, its tax regime or its operation will be applicable as of right, upon its entry into force.
8.2 : Modification of the General Conditions
Nokenchain reserves the right to modify the General Conditions or prices. The proposed modification will be communicated (or made available, as the case may be, on the Nokenchain website) to the Customer in electronic format at least 15 days before its entry into force.
The Customer will be deemed to have accepted the modifications in the absence of any dispute on his part in writing sent by email, within two months, from the date of the sending of the draft modification or its availability on the Nokenchain’s website.
In the event of a challenge to the changes to the General Conditions, the Customer may request in writing to stop his stablenode, which will take place without any costs being charged to him under this stop. If the contract is not terminated within the aforementioned two-month period, the changes will be enforceable against the Customer.
ARTICLE 9 : STOP
9.1 : At the initiative of the Customer
The stablenode can be stopped at any time by the Customer on simple request by email.
The stablenode shutdown will take effect from the date the email is read by Nokenchain and the latter on the blockchain confirmed by Nokenchain.
9.2 : At the initiative of Nokenchain
The stablenode can be stopped at any time at the initiative of Nokenchain by e-mail with a request for acknowledgment of receipt, subject to a 2-month notice period running from the date of dispatch.
The stablenode will be terminated automatically and without prior notice in the following cases :
– Dissolution or judicial liquidation of the Customer
– Legal or regulatory requirements
– Inaccurate information or refusal to provide information required by regulations (for example in the context of the fight against money laundering, justification of the source of funds and certain transactions above a certain threshold) or by the General Conditions
– Non-compliance with one of the obligations provided for in the General Conditions
– Seriously reprehensible behavior of the Customer (illicit activities, fraudulent acts or false documents, etc.)
ARTICLE 10 : PRESCRIPTION
When a period of 1 year has elapsed from the last transaction carried out at the initiative of the Customer and without news of the latter or of his beneficiaries, Nokenchain can redirect the rewards to the wallet (electronic wallet) of Nokenchain. The Customer or the beneficiaries then lose ownership of future rewards on the stablenode, with no possible recovery.
ARTICLE 11 : FUNDS GUARANTEE
11.1 : Terms and Conditions
In order to have defined terms and conditions, the collateral (capital necessary for the creation of the stablenode) collected by Nokenchain is covered by a guarantee mechanism managed by Nokenchain.
The compensation limit per Customer is equal to the type of stablenode. Example : A BTC 100 stablenode entails Nokenchain’s obligation to have 100 euros in USD-indexed stablecoins in the blockchain.
Nokenchain constitutes this Deposit Guarantee and Resolution Fund under the conditions and according to the modalities defined by these General Conditions.
11.2 : Internal Audit
An internal audit is performed each January and each June, available to the Customer upon request by email, to verify the available USD-indexed stablecoin funds.
In the event of a discrepancy, Nokenchain undertakes to update the amount available, so that it corresponds at least to the amount of NOKN and cryptocurrencies stablenodes in activity, as quickly as possible financially and by security commitment to the Customer.
ARTICLE 12 : PROFESSIONAL SECRET AND PROTECTION OF PERSONAL DATA
12.1 : Professional secret
In accordance with the provisions of Article L.511-33 of the Monetary and Financial Code and under penalty of the penalties provided for in Articles L.226-13 and 226-14 of the Penal Code, Nokenchain is bound by professional secrecy. However, this secrecy can be lifted in the cases provided for by law, in particular with regard to the supervisory authorities, the tax administration and the criminal authorities.
In addition, the law allows Nokenchain to communicate information covered by professional secrecy to persons with whom Nokenchain negotiates, concludes or executes transactions, expressly referred to in Article L.511-33 of the Monetary and Financial Code, as soon as this information is necessary for the operation concerned. Likewise, with regard to the fight against money laundering and the financing of terrorism, Nokenchain is required to transmit to the companies of the group to which it belongs, subject to the fight against money laundering referred to in Article L561-2 of the Monetary and Financial Code, information covered by professional secrecy.
The Customer also has the option of relieving Nokenchain himself of this secrecy, on a case-by-case basis, by indicating to it in writing the third parties to whom he will authorize it to communicate information concerning him that he will expressly mention.
By express agreement, the Customer authorizes Nokenchain to communicate any useful information concerning him to any natural or legal person contributing to the performance of the services provided for in the contract or which could be attached thereto, in particular to service providers for the execution of the works, subcontracted and/or to the companies of the group for their use for the purposes of study and management of files, commercial prospecting and/or other statistical studies.
12.2 : Protection of personal data
In application of the amended law n° 78-17 of January 6, 1978 relating to data processing, files and freedoms, it is specified that the personal data collected are obligatory to conclude this agreement and, to this end title, they will be processed for which the controller is Nokenchain, which is accepted by the persons to whom the data relates.
These data may be used for the purposes of managing the operations carried out and the services subscribed to in execution of this agreement by Nokenchain, the companies of the group to which it belongs, the service providers and partners to which it is contractually linked. They may also be used for the commercial actions of Nokenchain, its subsidiaries and companies of the group to which it belongs. The signatories of this agreement expressly accept that their data will be used and transmitted, by Nokenchain, to group companies, service providers and partners for the purposes of managing the operations carried out, and the services subscribed as well as for the purposes of updating the data collected by these entities.
These data may also be communicated to third parties to meet legal and regulatory obligations.
Les signataires de la présente convention bénéficient du droit d’obtenir communication de leurs données auprès de Nokenchain, d’en exiger, le cas échéant, la rectification, de s’opposer à leur utilisation à des fins de prospection, notamment, commerciale.
ARTICLE 13 : FIGHT AGAINST LAUNDERING AND TERRORIST FINANCING
Nokenchain is bound by a duty of identification, up-to-date Customer knowledge and vigilance due to the legislative and regulatory measures relating to the fight against money laundering and the financing of terrorism.
As such, the Customer undertakes to provide Nokenchain, as necessary, with all useful information necessary for up-to-date Customer knowledge and on the subject of operations or transactions, the origin and destination of funds, the identity of the beneficiary(ies) of the funds by producing, where applicable, any supporting document.
ARTICLE 14 : WITHDRAWAL
The Customer who subscribes a stablenode by canvassing track has a period of 14 calendar days of age to exercise his right of withdrawal without having to prove motive, nor penalties to bear. This period begins to run, either from the day on which the contract is concluded, or from the day on which the Customer receives the contractual conditions and the information, if this date is later than the date on which the contract is concluded.
To assert this right, the Customer sends his withdrawal request by email to Nokenchain, mentioning the following elements :
– His first and last name
– His postal address
– The stablenode to stop and its Waves address
– The date of signature of the request for creations
ARTICLE 15 : MEDIATION – SUPERVISORY AUTHORITY
In the event of a dispute, complaint or disagreement relating to operations recorded on the blockchain, the Customer and Nokenchain will endeavor to come together and seek an amicable solution, the Customer having to contact within two months of the verification the services of Nokenchain.
After this period, and unless the Customer provides proof to the contrary, the operations are presumed to have been approved by the Customer. If the disagreement persists, the Customer may contact the Mediator of Nokenchain free of charge.
Responsible for recommending solutions to these disputes, this Mediator is required to rule within two months of being referred. The findings and statements that it collects cannot be produced or invoked in the rest of the proceedings without the agreement of the parties.
The Customer may send his complaint in writing to the head office of Nokenchain for the attention of the Mediator, at the following address :
Mr. The Mediator of Nokenchain, THUILLET-NOKENCHAIN, BP 1, 88 rue d’Eaubonne, 95100 ARGENTEUIL, FRANCE
The Nokenchain Mediator exercises his function in complete independence, within the framework of common sense and the normal functioning of a stablenode.
The Nokenchain Mediator will facilitate the search for an amicable solution.