Propy Staking Terms & Conditions
These terms are incorporated by reference and supplement the Terms and Conditions and Privacy Policy available on propy.com and govern your use of certain staking services (“Staking Services”) on the Propy platform. By staking your cryptocurrency assets (also referred to herein as “cryptocurrency”, “cryptocurrencies”, “digital assets”, “crypto assets”, “crypto tokens”, “tokens” or “coins”) with Propy Inc. (“Propy”) you agree to comply with the following terms and conditions.
Please read these Terms carefully before staking your crypto assets. If you do not agree to these Terms, do not participate in the staking program.
Table of Contents
- Eligibility
- Supported Digital Assets for Staking.
- Seasons, Lockup Periods, pSTAKE tokens.
- Rewards
- Termination and Suspension
- Risk Disclosure
- Modifications to Terms
- Limitation of Liability and Indemnification
- Miscellaneous
- GDPR Compliance
1. Eligibility
The Propy platform allows eligible users in good standing who reside in eligible jurisdictions to stake certain crypto tokens on the Propy platform. To participate in the Propy staking program, you must have reached the legal age of majority in your jurisdiction and you must reside in a jurisdiction where it is legal to participate in cryptocurrency staking.
You must attach to the Propy platform an appropriate cryptocurrency wallet compatible with the cryptocurrencies supported by Propy’s staking program. In order to initiate the staking of your digital assets, you will follow the instructions provided to you on the Propy staking web site (“Staking Site”) reachable through dapp.propy.com in order to send the digital assets for staking to the Propy staking smart contract (“Contract”) exclusively through the staking user interface provided by Propy on the Staking Site and exclusively from your attached wallet and you will receive any staking rewards you will be entitled to in accordance with this agreement exclusively in said attached wallet which you own and you control.
If, in violation of the above section 1.3 of this agreement, you send your digital assets to the Contract by bypassing the staking user interface provided by Propy on the Staking Site, you understand and you agree that you shall not be able to recover your digital assets, that you are hereby forfeiting any and all rights, including property rights, to such digital assets, and that your digital assets may become part of the rewards pool which will be distributed to all qualified users of the Propy staking program at the end of the nearest staking Season and that neither Propy nor its affiliates shall bear any responsibility or obligation to compensate you for such digital assets.
Each user who wants to participate in the Propy Staking Program must pass a KYC & AML (Know Your Customer and Anti Money Laundering) verification procedure on the Propy Staking Site and be whitelisted before participating in the Propy Staking Program. The data you provide for KYC and AML verification shall be treated by Propy in accordance with the relevant provisions herein and with the Propy privacy policy.
2. Supported Digital Assets for Staking.
The Propy Staking Program allows eligible users to stake certain supported cryptocurrencies (or “digital assets”) on the Propy platform for the purpose of supporting the Propy ecosystem.
The Propy staking program comprises staking Seasons (“Season”, “Seasons”) which consist of a start and end date and an enrollment period at the beginning of each such Season; staking Rewards (“Rewards”) specific to each such Season; pSTAKE ERC20 crypto coins assigned at the moment of enrollment to each staking position for the purpose of calculating the Rewards; eligible digital assets acceptable for staking; and choices of lockup periods of which you must choose one when you enroll.
You can stake, and initiate or enrol a separate staking position for, each one of several types of supported digital assets. All references to a staking position hereinafter shall be understood to apply separately to each one of your staking positions.
The list of currently supported types of digital assets for staking is provided below in this section but is subject to change at the sole discretion of Propy; such changes shall be posted on Propy’s staking page available on dapp.propy.com and shall supersede any list of eligible digital assets provided herein immediately after posting.
Currently said list comprises:
PRO tokens
All 4 tiers of Propy Keys NFTs (i.e. tiers 1,2,3 and OG)
Uniswap LP NFT tokens received for providing liquidity for the “PRO/ETH 1% fee” pool on Uniswap v3 (BASE L2 chain only.)
Each type of staked digital asset shall initially be assigned a virtual PRO value and a multiplier which will be used solely for the calculation of the pSTAKE tokens which shall be assigned to your staking position at the moment of staking; specifically:
Each PRO coin you stake is assigned a virtual value of 1 PRO and a multiplier of 100, resulting in 100 pSTAKE tokens;
Each Propy Keys Tier 1 NFT you stake is assigned a virtual value of 1 PRO and a multiplier of 100, resulting in 100 pSTAKE tokens;
Each Propy Keys Tier 2 NFT you stake is assigned a virtual value of 10 PRO and a multiplier of 100, resulting in 1,000 pSTAKE tokens;
Each Propy Keys Tier 3 NFT you stake is assigned a virtual value of 200 PRO and a multiplier of 100, resulting in 20,000 pSTAKE tokens;
Each Propy Keys OG NFT you stake is assigned a virtual value of 5 PRO and a multiplier of 100, resulting in 500 pSTAKE tokens;
Each Uniswap v3 LP NFT token you own for providing liquidity for the “PRO/ETH 1% fee” pool on BASE and which you stake is assigned a virtual value of 1 PRO for each PRO plus a virtual value of 1 PRO for each equivalent to 1 PRO ETH value which you have contributed to the BASE PRO/ETH liquidity pool, and a multiplier of 500, resulting in 1,000 pSTAKE tokens;
3. Seasons, Lockup Periods, pSTAKE tokens.
At or before the end of each staking Season Propy may send an amount of PRO tokens to the Contract in order to fund the Rewards pool for that particular Season.
You understand and you agree that the amount of staking Rewards for each and every Season are subject to change at Propy’s sole discretion at any time without prior notice, and Propy makes no guarantee regarding the amount or consistency of Rewards.
By staking an amount of supported crypto tokens you may earn Rewards based on the amount and type of tokens you choose to stake on the Propy platform, the time period your tokens remain locked up as staked, the lockup period you choose for your tokens, the amount of funding, if any, Propy has provided to the Rewards pool for each Season for which your staking has satisfied the conditions described herein and at the Staking Site for claiming said Rewards, and the number and type of digital assets staked by other Propy customers whose staking also satisfies the conditions for claiming Rewards in each such Season.
You can stake digital asets for participation in the Propy staking program only during the enrollment period declared by Propy for a particular Season or Seasons;
Upon enrollment, your staking position shall be assigned an amount of pSTAKE ERC20 tokens which will be used to calculate your share of the rewards pool for a Season or Seasons for which your staked position satisfies the terms of this agreement and any additional requirement posted by Propy at the Propy Staking Site.
The amount of pSTAKE tokens assigned to your staking position depends on the number or amount and the type of digital assets eligible for staking which you have staked, as well as on the lockup period you chose for your staked digital assets upon enrollment.
For each staking position, the lockup period you choose, or which is assigned to said staking position by default, shall be the minimum amount of time your staked digital assets must stay staked as one condition for you to claim a share of the Rewards, if any are available, for the Season or Seasons for which the Rewards pool has been funded before you terminate your staking position. Specifically, said lockup period has a starting time of the UNIX timestamp at which the blockchain block containing the transaction sending the digital assets to the Contract for staking is mined and has a duration expressed in seconds equal to the number of days of the staking positions’s lockup period multiplied by the number 86,400 which is the number of seconds in a 24-hour day. A staking position which is terminated with a transaction in a blockchain block having a UNIX timestamp which is later than the time obtained by adding the lockup period duration to the timestamp of the staking initiation transaction, shall satisfy the lockup period condition for participation in the staking Rewards associated with said lockup period, otherwise it shall be in violation of said lockup period condition. You understand and you agree that keeping your digital assets staked for the duration of your chosen upon enrollment for, or assigned by default to, your staking position lockup period is a necessary but not sufficient condition for you to claim a share of the rewards pool for one or more Seasons encompassed by said lockup period.
The starting time of a lockup period you have chosen for your staking position must fall inside an enrollment period for a Season or seasons.
A staking position which is terminated after the Rewards pool for a Season is funded, may, if all other conditions are satisfied, qualify for a share of said Season’s Rewards, otherwise, if it is terminated before the Rewards pool for a Season is funded, it cannot participate in said Season’s Rewards.
There is a mandatory minimum lockup period of 3 days for all staking positions.
Certain lockup period durations may provide a boosting bonus to the amount of pSTAKE coins assigned to your staking position upon enrollment. Generally, the minimum lockup period of 3 days results in the assignment of the basic or Unboosted amount of pSTAKE coins (“Unboosted”) to your staked position, while lengthier lockup periods may provide a boosting bonus to the amount of pSTAKE coins assigned to your staking position upon enrollment.
Propy retains the right to determine, at its sole discretion, the available lockup period choices and any pSTAKE boosting bonus associated with certain lockup period choices for your staking position during the enrollment process and the choices of lockup periods which shall appear at the enrollment User Interface (“UI”) shall supersede any choices provided.
By default, and subject to changes posted on the Staking Site enrollment UI, the lockup period duration choices and the boost percentage of the “Unboosted” amount of pSTAKE coins assigned to your staking position upon enrollment are:
3 day minimum lockup = 0% boost of the Unboosted amount of pSTAKE tokens assigned to your staking position upon enrollment. Notice that this is the only option available for the staking of all types and tiers of PropyKeys tokens.
60 day lockup = 10% boost over the Unboosted pSTAKE amount;
90 day lockup = 20% boost
180 day lockup = 40% boost
365 day lockup = 100% boost
Notice that not all lockup period duration choices are available to all types of digital assets eligible for staking. The list of available lockup periods and boost bonuses of pSTAKE tokens for each eligible digital asset shall be made available at the UI of the Staking Site at the time of your enrolment.
You understand and you agree that if you unstake your coins before the end of the lockup period of a staking position, you are rescinding your staking and shall forfeit any and all Rewards set aside for your staking position and that you denounce any and all claims to Rewards from each and every Season encompassed by the lockup period of the staking position which you unstaked early (i.e. before the end of its lockup period.)
You also understand and you agree that regardless of the lockup period associated with your staking position, if you unstake your digital assets before the Rewards pool of a Season is funded, you shall forfeit any and all claims to a share of the rewards pool for that Season.
In all cases where Rewards set aside for a staking position are forfeited due to early termination of the staking position or for any other reason, you understand and you agree that said forfeited Rewards, at Propy’s sole discretion, may or may not be returned to the Rewards pool for said Season or for subsequent Seasons.
Regardless of the lockup period you have chosen, your staked position may continue if not unstaked after the end of its chosen lockup period, to participate in the sharing of Rewards of Seasons subsequent to the end of its lockup period, using the amount of pSTAKE coins originally assigned to it at enrollment in the now expired lockup period as the basis for the calculation of its share of the Rewards pool of such subsequent Seasons.
4. Rewards
The staking Contract shall maintain at all times a total PRO token balance consisting of the totality of the staked by all users PRO tokens plus the totality of Rewards pool PRO tokens.
A pSTAKE token balance shall be maintained for each staking position of each user.
Upon funding of a Season’s Rewards pool, the pSTAKE token balance of each staking position will be used to calculate said staking position’s share of said Season’s Rewards pool PRO tokens balance as the ratio of said staking position’s pSTAKE balance to the total sum of pSTAKE balances of all staking positions of all users active and eligible for a share of the Rewards pool of said Season at the moment of calculation. Each such ratio shall be multiplied by the Rewards pool PRO tokens balance in order to obtain the Rewards of each staking position expressed in PRO tokens. The latter Rewards shall be added to a running Pending Rewards PRO balance (“Pending Rewards”) for each staking position, which balance shall keep track of the sum of Rewards, if any, conditionally earned by a staking position from each Season of staking. The totality of such Pending Rewards PRO balances of all staking positions of all users active at the moment of calculation shall be equal to the total PRO token balance of the Contract minus the totality of PRO tokens staked by all users at the moment of calculation.
During the lockup period, the “Pending Rewards” PRO balance of each staking position of each user shall reflect the balance of PRO Rewards earned but not yet vested for a given position, in the sense that they are still subject to forfeiture if unstaking occurs before the end of the lockup period of said staking position. After the lockup period ends, the Pending Rewards balance shall reflect vested, i.e. earned and unforfeitable PRO Rewards, which can be claimed by the user owning said staking position at any time after the end of the corresponding lockup period by simply unstaking their position.
Upon unstaking your staking position after the end of its lockup period, the pSTAKE tokens of that staking position shall be swapped for the PRO token amount in the Pending Rewards balance of your staking position and shall be sent to the cryptocurrency wallet you have attached to your Propy account at the time of enrollment in Propy’s staking program.
You understand and you agree that If you unstake the digital assets of a staking position before the end of the lockup period, the pSTAKE coins assigned to your staking position shall be burned, the Pending Rewards balance of said staking position shall be set to zero and your staking position will not entitle you to, and you shall not receive any Rewards. Any share of the Rewards pool of such staking position calculated based on the now burned pSTAKE tokens of such a position shall be reassigned to the Rewards pool of the Season in which the early unstaking took place and the shares of the Rewards pool of all other staking positions, whether yours or other users’, expressed in PRO tokens shall be readjusted to reflect said reassignment.
Fees may apply to the staking program, including but not limited to transaction fees, network fees, unstaking fees, or withdrawal fees, and you understand and you agree that Propy may collect such fees from any assets available in your Account of from staking Rewards before distributing them to your wallet or from your staking position before returning your digital assets to your wallet and that Propy is under no responsibility to declare the size of such fees before collecting them.
You can change the amount of digital assets of a staking position having the minimum lockup period without first unstaking the digital assets of said staking position as long as such change takes place within the enrollment period of the staking Season during which your digital assets were first staked.
For all other cases, in order to change the amount of digital assets you have staked in a staking position, you must unstake your staking position and restake with a different amount of digital assets.
You cannot unstake only a portion of any ERC20 compatible digital assets, such as PRO tokens, of a staking position. If you decide to unstake your staked ERC20 digital assets, you must unstake all such assets you have staked in a particular staking position. This unstaking will not affect other staking positions you may have enrolled.
You can unstake each PropyKeys or Uniswap LP NFT you have staked separately from every other PropyKeys or Uniswap LP NFT without affecting the staking of such other PropyKeys or Uniswap LP NFT.
Each staking Season may or may not distribute rewards independently of other Seasons. This is true regardless of whether you have or have not declared a lockup period encompassing said Season. You understand and you agree that Propy retains the right to determine in its sole discretion, the duration, number, starting date and time, enrollment period, ending date and time, size of funding of the rewards pool and the conditions for participation and earning of staking rewards for each Season.
Before enrollment for a particular Season becomes possible, Propy shall make known in its staking web page the starting date and time and duration of the enrollment period as well as the date and time of termination for said Season as well as the conditions for earning rewards and other necessary instructions for enrollment in said staking Season. Propy will also provide a user interface which each participant in Propy’s staking program must exclusively use in order to send their tokens for staking to Propy’s staking Contract for said Season as one of the conditions for claiming a share in the Rewards pool of a particular Season,.
You agree that Propy retains the right to determine, at its sole discretion, the amount and the type of cryptocurrency it shall provide as funding to the Rewards pool for each Season separately, including the right to provide no funding at all for one or more Seasons. If Propy has not provided any funds to the Rewards pool of a Season for which you have satisfied the requirements to be entitled to a share of the Rewards pool, you understand and you agree that you shall receive no Rewards from your staking in such a Season. .
Propy reserves the right to, at its sole discretion, add or remove supported cryptocurrencies for staking at any time. The list of supported cryptocurrencies for staking along with information about the periods of activity of the Propy staking program for each cryptocurrency shall be available at appropriate times on Propy’s rewards web page which is available through dapp.propy.com.
In case support of a cryptocurrency of the type you have staked is terminated by Propy, this termination shall be reflected in Propy’s staking web page available through dapp.propy.com. If such termination happens during a staking position’s lockup period or during a staking Season you understand and you agree that your staking of the given kind of cryptocurrency may be terminated and may be rescinded for the lockup period of said staking position or for that Season and in that case you shall be entitled to receive only your staked cryptocurrency and you shall not be entitled and shall not receive any staking rewards from said Season or from any subsequent Seasons unless you initiate a new staking position using a supported type of cryptocurrency for said Season (if said Season’s enrollment period is still active) or for subsequent Season or Seasons. Alternatively, at Propy’s sole discretion, Propy may choose to treat staking positions whose staked digital assets became unsupported during a staking position’s lockup period or Season as having fulfilled the requirements associated with their lockup period and distribute Rewards to such staking positions as if their staked digital assets were still supported, assuming all other conditions for participation in a Season’s or Seasons’ Rewards pool or pools were satisfied, but only for the lockup period or Season during which support for said staked digital assets was terminated by Propy. In all cases of termination of support for a cryptocurrency you have staked, you understand and you agree that you must actively unstake your staked position in order to receive your staked digital assets and or Rewards if any. After support for a type of digital asset has been terminated you will not be able to stake any amount of the unsupported token again until Propy decides to reinstate said token into the list of eligible for staking tokens.
You retain ownership of each cryptocurrency that you stake, and each staked cryptocurrency remains your property while staked.
In case you unstake your staked tokens before the end of the Season or the lockup period for which you have staked them, you understand and you agree that by unstaking you will rescind your staking for that particular Season or lockup period, that Propy shall refund to your original wallet from which the staking tokens were sent for staking only the staked tokens without any staking rewards for that Season and you agree to waive and release any and all claims to rewards from staking from that Season or Seasons in a lockup period.
5. Termination and Suspension
You understand and you agree that Propy retains the right to terminate its staking program at any time and that such unplanned termination may happen during a lockup period for a staking position or positions or during a Season and that upon such unplanned termination of the Propy staking program and, at Propy’s sole discretion, you may not not be entitled to and you may not receive any further rewards from Propy’s staking program. Alternatively, at Propy’s sole discretion, Propy may choose to treat staking positions which were active when the Propy staking program was terminated as having fulfilled the requirements associated with their lockup period and distribute Rewards, if any at Propy;s sole discretion, to such staking positions, assuming all other conditions for participation in a Season’s or Seasons’ Rewards pool or pools were satisfied, but only for the lockup period or Season active when Propy’s staking program was terminated. In all cases of termination of Propy’s staking program, you understand and you agree that you must actively unstake your staked position in order to receive your staked digital assets and or Rewards if any. After the Propy staking program is terminated you will not be able to stake any amount of digital assets until Propy decides to restart its staking program
Propy reserves the right to terminate or suspend your participation in the staking program at any time, with or without cause, including if we suspect any fraudulent activity, violation of this Agreement, or non-compliance with applicable laws.
If your participation is suspended or terminated, you must actively unstake any staked assets, subject to applicable fees and penalties.
If your participation is suspended or terminated, the rules for voluntary termination by you at any time described herein will apply to your staked assets and to any Rewards your staking position or positions have been assigned or you could claim.
6. Risk Disclosure
Participating in the crypto staking program involves certain risks, including but not limited to:
The volatility of cryptocurrency prices.
Potential loss of staked assets due to protocol failures, network issues, or security breaches.
Loss in value of staked digital assets during staking or during the lockup period of a staking position.
Your lack of access and inability to trade, lend, invest or use your staked digital assets in other ways to generate profit or purchase goods or services during staking or during your lockup period if any.
Changes in staking reward rates, expenses, fees or program terms.
You acknowledge that it is your responsibility to assess all risks associated with your participation in Propy’s staking program, including any risks not explicitly mentioned herein, and that your participation means that you have made such assessment to your satisfaction and that you are participating in the staking program at your own risk and agree that Propy shall not be held responsible for any losses, including but not limited to lost rewards or principal.
Staking poses certain risks. Cryptoassets are volatile assets staked cryptoassets may lose value over time, including over the period that they are staked, and so a staked digital asset may earn staking rewards while staked but still lose principal value. Do not stake cryptoassets unless you are able to bear the risk of waiting for the end of your staking period.
You acknowledge that Propy does not provide investment, legal, accounting or tax advice to you in connection with your activity on the Propy platform, including your participation in the staking program. You should consult with your own legal, accounting and tax advisors prior to making any decision related to your participation in the Propy staking program.
7. Modifications to Terms
Propy reserves the right to unilaterally modify or amend these Terms and Conditions at any time. Any changes to these Terms will be posted on our website, and the updated Terms will become effective immediately upon publication.
It is your responsibility to review these Terms periodically for any updates. Your continued participation in the Program after any changes to the Terms will constitute your acceptance of the modified Terms.
8. Limitation of Liability and Indemnification
Neither Propy nor its affiliated entities, and their respective current and former officers, directors, stockholders, employees, owners, partners, members, parents, affiliates, subsidiaries, divisions, related entities, agents, attorneys, and insurers, (collectively, the “Released Parties”), will be liable for any direct, indirect, incidental, special, or consequential damages, including without limitation, any and all claims, demands, liabilities, obligations, causes, and causes of action of whatever kind or nature, whether known or unknown, past or present, suspected or unsuspected, that arise out of your participation in the Propy staking program, including but not limited to loss of rewards or loss of staked assets for any reason whatsoever.
You agree to indemnify and hold harmless Propy and its affiliated entities, and their respective current and former officers, directors, stockholders, employees, owners, partners, members, parents, affiliates, subsidiaries, divisions, related entities, agents, attorneys, and insurers, (collectively, the “Released Parties”), from any and all claims, demands, losses, damages, liabilities, obligations, causes, and causes of action of whatever kind or nature, whether known or unknown, past or present, suspected or unsuspected including, without limitation, those that arise out of or that relate to your staking of digital assets in Propy’s staking program.
9. Miscellaneous
These terms and any terms posted in the Propy.com web site constitute the entire agreement between you and Propy regarding the staking program and supersede all prior agreements or understandings.
If any provision of these Terms is deemed invalid or unenforceable, the remaining provisions shall remain in full force and effect.
You may not transfer or assign any of your rights or obligations under these Terms without
10. GDPR Compliance
This section outlines the obligations of Propy and you in relation to the collection, use, storage, and protection of personal data under the General Data Protection Regulation (EU 2016/679) ("GDPR"), in the context of participation in the Propy cryptocurrency staking program.
Definitions
Personal Data: Any information relating to an identified or identifiable natural person as defined under Article 4(1) GDPR.
Data Controller: Propy, which determines the purposes and means of processing personal data.
Data Subject: the participant in the Propy staking program, that is, yourself, the individual to whom the personal data relates.
Processing: Any operation performed on personal data, whether automated or not (e.g., collection, recording, storage, disclosure).
Data Collected
The Company may collect and process the following personal data of Clients:
Full Name
Contact Information (email address, phone number)
Wallet addresses
Identity verification data (KYC), such as a copy of government-issued ID
IP addresses and device information
Transaction records related to staking activity
Legal Basis for Processing
The Company processes personal data based on the following lawful bases:
Performance of a contract (Art. 6(1)(b) GDPR): to provide staking services.
Legal obligation (Art. 6(1)(c) GDPR): to comply with anti-money laundering (AML) and know-your-customer (KYC) laws.
Legitimate interests (Art. 6(1)(f) GDPR): for fraud prevention, network security, and improving service delivery.
Data Rights of Clients
Clients have the following rights under GDPR:
Right to access – receive a copy of their personal data.
Right to erasure – request deletion, subject to legal and regulatory exceptions.
Right to restrict processing – under certain conditions.
Right to data portability – receive their data in a structured, commonly used format.
Right to object – to processing based on legitimate interests or direct marketing.
Right to lodge a complaint – with a supervisory authority.
Requests can be submitted via email at dpo@propy.com.
Data Security
The Company implements appropriate technical and organizational measures to ensure a level of security appropriate to the risk, including:
Data encryption
Secure storage of KYC documents
Access controls and audits
Regular security assessments
Data Retention
The Company retains personal data only as long as necessary for:
The fulfillment of the staking service agreement;
Compliance with applicable legal and regulatory obligations (e.g., AML laws, tax reporting);
The exercise or defense of legal claims.
Retention periods are typically 5 years unless otherwise required by law.
Subprocessors and Transfers
The Company may engage third-party service providers ("Subprocessors") for identity verification, data storage, or analytics.
All subprocessors are contractually obligated to meet GDPR standards.
If personal data is transferred outside the EEA, appropriate safeguards (e.g., Standard Contractual Clauses) are in place.
Breach Notification
In the event of a personal data breach that may result in a risk to the rights and freedoms of individuals, the Company will notify affected Clients without undue delay and comply with GDPR Article 33 and 34 requirements.
Changes to This Section
The Company reserves the right to update this section to reflect changes in law or business practices. Clients will be notified of any material changes and may be required to re-acknowledge acceptance.
By participating in the Propy Staking Program, you acknowledge that you have read, understood, and agreed to these Terms and Conditions.
If you have any questions or concerns, please contact us at support@propy.com or visit our home page for more details at propy.com.
