These terms and conditions (“T&Cs”) regulate your use and access to Pintu Locked Earn (“Pintu Locked Earn”) as one of the services of digital crypto asset trading held by PT Pintu Kemana Saja (“Pintu”, “we”, “us”, “our”). By accessing and/or using Pintu Locked Earn, you agree to be bound by these T&Cs and you agree that these T&Cs constitute a legally binding agreement between you and Pintu. If you do not agree to these T&Cs, you may stop accessing and/or using Pintu Locked Earn.
GENERAL TERMS
- By accessing and/or using Pintu Locked Earn, you acknowledge, admit and agree that you have accepted and acknowledged the risk of loss associated with the loss of value or reduction of value of your digital crypto asset. In general, the digital crypto asset value may substantially fluctuate that you may suffer losses in relation to your ownership, placement, storage or use of Pintu Locked Earn, to the extent the total value of your digital crypto asset that you place with Pintu Locked Earn.
- In order to use Pintu Locked Earn: you must (i) have been registered and verified as Pintu app user; and (ii) at all times, comply with these T&Cs, the terms and conditions as well as privacy policy available with the Pintu app or website (“General T&Cs and Privacy Policy“).
- You acknowledge and agree that in the event of any noncompliance to the T&Cs and the General T&Cs and Privacy Policy, or Pintu suspects or determines that you are indicated as being involved in any fraudulent activities that may create damages to other users, Pintu or any other third party, then Pintu, with its own final and binding discretion, may conduct any things necessary to, among others, retain any benefit or yield, seek damages, suspend temporarily, halting access, limiting access, deletion of account and prohibition to use any Pintu services in any form.
- Pintu may vary part or all terms under these T&Cs by notice through Pintu app or website or such other method of notification as Pintu may designate, which such variation shall take effect on the date that we specify through the above means. If you use Pintu Locked Earn after such date, you are deemed to have accepted such variation. If you do not accept the variation, you must stop access and/or using Pintu Locked Earn. You are advised to continuously review these T&Cs in Pintu app or website.
- These T&Cs constitute an integral and inseparable part of the General T&Cs and Privacy Policy, therefore, please also ensure that you have read and are updated from time to time on the General T&Cs and Privacy Policy.
INTRODUCTION
- Pintu is a digital crypto asset trader that is legally registered with and supervised by the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti). As such, you agree and acknowledge that Pintu is not and will not be considered as a bank and Pintu Locked Earn may not be considered as time deposits or savings account or any other similar services for fiat currencies.
- Pintu Locked Earn, along with the digital crypto asset that you place with Pintu Locked Earn, is not subject to the insurance terms as determined by the Indonesian Deposit Insurance Corporation (Lembaga Penjamin Simpanan).
- Pintu shall not act as your attorney, trustee or investment manager in any of your actions in using Pintu Locked Earn. By using Pintu Locked Earn, you agree and acknowledge that you are not establishing Pintu as your trustee or investment manager and there shall be no fiduciary relationship between the parties. All of your actions in using Pintu Locked Earn are determined consciously by yourself.
PINTU LOCKED EARN
Pintu Locked Earn is a product offered by Pintu to give you opportunities to obtain certain amount of benefit/yield in the form of digital crypto asset (“Benefit”) by way of placing or storing digital crypto assets that you owned in your wallet designated for Pintu Locked Earn (“Locked Earn Wallet”) (those crypto assets shall also be referred to as “Locked Assets”) for a certain period. You can access Pintu Locked Earn through the shortcut on the main page of Pintu app or through the wallet page.
Pintu Locked Earn consists of 3 types of specific sub-products where the main difference between them is the period on when you can withdraw the Locked Assets to your general crypto wallet at your account in Pintu app (“Main Wallet”) (such period will be referred to as “Locking Period”). For ease of your reference, please see below the descriptions of the 3 types of Pintu Locked Earn products:
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No.
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Pintu Locked Earn Product
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Locking Period
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Benefit
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1.
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Flexible
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N/A, withdraw at any time.
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Have the lowest Benefit compared to the other Locked Earn Products.
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2.
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Locked 30
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On the date falling 30 days after the date when you placed the Locked Assets.
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Have Benefit higher than the Flexible but lower than the Locked 90.
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3.
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Locked 90
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On the date falling 90 days after the date when you placed the Locked Assets.
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Have the highest Benefit compared to the other Pintu Locked Earn products.
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ELIGIBILITY
All registered and verified users of Pintu may use Pintu Locked Earn services. Please ensure you have downloaded the latest version of Pintu app on your mobile phone.
PINTU LOCKED EARN MANAGEMENT
- You may deposit/transfer your digital crypto asset from your Main Wallet to your Locked Earn Wallet to participate in this Pintu Locked Earn services; note that Pintu may reject the deposit/transfer if there is an indication of violation to these T&Cs and the General T&Cs and Privacy Policy. Pintu will not deliver any Benefit if you do not deposit/transfer your digital crypto asset to your Locked Earn Wallet.
- For Flexible, you may deposit/transfer your assets from your Locked Earn Wallet to your Main Wallet, vice versa, at any time through Pintu app. As for Locked 30 and Locked 90, (i) you cannot transfer the Locked Assets from your Locked Earn Wallet to your Main Wallet before the relevant Locking Period ends; but (ii) you can deposit/transfer to ‘top up’ the Locked Assets from your Main Wallet to your Locked Earn Wallet at any time (note that upon the ‘top up’, your Locking Period will be counted from the date when you do the ‘top up’ and the Benefit will be calculated based on the formula applicable on that date (please see the ‘Benefit and Related Terms’ section below))..
- Any Locked Earn Wallet that you establish is independent and segregated from your Main Wallet and other Locked Earn Wallet(s) (in case you place more than 1 (one) type of digital crypto asset). As such, the calculation of Benefit from any digital crypto asset that you placed with the Locked Earn Wallet in relation to Pintu Locked Earn shall be done separately and independently for each type of digital crypto asset in such Locked Earn Wallet.
- Pintu may set a minimum and maximum limit of digital crypto asset amount that can be stored in Locked Earn Wallet, which details will be indicated and time to time updated in the Pintu app.
BENEFIT AND RELATED TERMS
- Benefit will be given to each user that has opened a Locked Earn Wallet and placed or stored digital crypto asset in such Locked Earn Wallet.
- The value of Benefit for each type of digital crypto asset will be calculated based on the fixed annual percentage rate (“APR”), which value may differ for each digital crypto asset.
- The APR as mentioned above shall be available in the front page of Pintu Locked Earn in Pintu app and may be changed at any time without prior written notification to you.
- Benefit shall be given to each user (in the same form/type of digital crypto assets as the one being placed as the initial Locked Assets) after the Locking Period has been completed based on the applicable Benefit calculation formula.
- The calculation of Benefit shall be conducted in a manner similar with the following simulation:
Effective APR (as indicated in the Pintu app): 4% per year (365 days)
Locking Period: 30 days
Principal (amount of digital assets stored in Locked Earn Wallet): 10
The Benefit that will be given after Locking Period is completed:
= Principal x (Effective APR x Locking Period / 365)
= 10 x (4% x 30 / 365)
= 10 x 0,32876712%
= 0,03287671
- The Effective APR may change from time to time without a prior notification to you. The Effective APR that will be implemented towards the relevant Benefit is the one applicable at the time you conduct the deposit/transfer of digital assets from your Main Wallet to the Locked Earn Wallet.
- Pintu will only provide the Benefit to You in accordance with the provisions under these T&Cs and Pintu will not provide any other benefit (including Airdrop) unless notified in writing and separately to you by Pintu.
ROLLOVER
- Rollover means the option to extend the Locking Period of digital crypto assets in the Locked Earn Wallet.
- There are 3 types of Rollover mechanics, being:
- No Rollover: all Locked Assets (including the relevant Benefit) will be transferred to the Main Wallet upon withdrawal (for Flexible) or upon the lapse of Locking Period (for Locked 30 and/or Locked 90).
- Rollover without Benefit: the Locked Assets (excluding the relevant Benefit) will be kept in the Locked Earn Wallet for further Locking Period.
- Rollover with Benefit: the Locked Assets (including the relevant Benefit) will be kept in the Locked Earn Wallet for further Locking Period.
- For Rollovers, the Effective Rate that will be used is the Effective Rate applicable upon the time when the Rollover process is effectively done.
- You can change the Rollover settings at any time during the Locking Period.
TAX
You agree that any tax obligations and/or fees arising upon and/or applied to in relation to the use of Pintu Earn services shall be borne by each party in accordance with each party’s portion all in accordance with the applicable laws and regulations (particularly those pertaining to taxation).
REPRESENTATION AND WARRANTIES
You agree that you: (i) have disclosed all true, accurate and complete information to Pintu as part of the Know Your Customer (KYC) process; (ii) have complied with all terms stated in these T&Cs, General T&Cs, and Privacy Policy, as well as all prevailing laws and regulations in Indonesia; and (iii) shall not permit or be involved in any fraudulent activities towards other users, Pintu or any other third party, including, but not limited to, use of bot or any other technology to manipulate or forge data to increase the yield or benefit that you may obtain from Pintu Earn.
RISKS DISCLOSURE
You agree and acknowledge that you are accessing and using Pintu Locked Earn with your own risk. You acknowledge and admit that there are risks in using Pintu Locked Earn, including, but not limited to, the listed risks below.
- Legality: In accordance with the prevailing regulations and supervision of related authorities, we may vary, suspend or terminate Pintu Locked Earn. You are responsible to determine whether your use of Pintu Locked Earn is in accordance with the legality in your jurisdiction. You are prohibited to use Pintu Locked Earn should such use be regarded as illegal in your jurisdiction. You are advised to seek independent legal advice should you feel uncertain.
- Cyber Attack: You acknowledge that digital crypto asset may be subject to expropriation, theft or fraud by hackers or any malicious groups that may attempt to interfere with our system in any way, including malware attacks, denial of service attacks, consensus-based attacks, sybil attacks, smurfing and spoofing that may result in the loss of your digital data.
- Source Code Weakness: you acknowledge that our system may unintentionally include weaknesses or bugs in the source code which may adversely affect Pintu Locked Earn system.
- Third-Party Failure: Pintu Locked Earn is a product/system that is fully owned, operated, and managed by Pintu; nonetheless, the product/system is also supported by independent third-parties to ensure the proper performance of the product/system. Having said that, you hereby acknowledge the risks associated with the third parties’ failure to properly provide us with their support which may adversely affect Pintu Locked Earn system.
FORCE MAJEURE
Any default, failure, interference or delay in complying with the obligations or any inconsistencies at Pintu Locked Earn that is caused by, whether entirely or partially, direct or indirect, by an event or such failure is caused by any reason whatsoever beyond our control including, but not limited to, natural disasters, act of government (including change of law or anything that is unexpected beyond reasonable control of), failure or disruption to public or private telecommunication network; communication lines or information system, war, terrorism, riot, virus, malware, other malicious computer source code, or hacking, shall not be regarded as Pintu’s failure in delivering its obligations under these T&Cs.
LIMITATION OF LIABILITY
- Notwithstanding any provisions in these T&Cs, in no event shall either party be liable to the other party for any type of incidental, special, exemplary, punitive, indirect or consequential damages, including, but not limited to, lost revenue, lost profits, replacement goods, loss of technology, loss of data, or interruption or loss of use of services or equipment, even if such party was advised of the possibility of such damages, and whether arising under theory of contract, tort, strict liability or otherwise.
- Notwithstanding the foregoing, without limiting the substance of other terms in this T&Cs and to the fullest extent permitted by the prevailing regulations, you agree and acknowledge that Pintu’s aggregate liability for any loss or damage arising in connection with Pintu Locked Earn is limited to the total amount of yield or benefit that has been received by you in the past 3 (three) months prior the event giving rise to the claim of liability.
INDEMNIFICATION
You agree and acknowledge that you will defend, indemnify, and hold harmless Pintu and each of its respective employees, officers, directors, employees and/or its affiliates in its entirety from and against any claims, damages, losses, liabilities, costs, and expenses that may be suffered by Pintu or may be claimed towards Pintu, whether direct or indirect, in relation to your failure in complying with these T&Cs, General T&Cs and Privacy Policy and/or in fulfilling your obligation to comply with prevailing laws and regulations.
TERMINATION
- The applicability of these T&Cs will be terminated immediately by the closing of your Locked Earn Wallet whether independently by you or forcefully by Pintu in accordance with the terms of these T&Cs. For avoidance of doubt, the termination of these T&Cs shall not prevent any party from seeking any remedies against any other party for any breach of these T&Cs in accordance with the terms of these T&Cs and/or prevailing regulations.
- If you have a remaining balance of digital crypto assets in Locked Earn Wallet that has been suspended or closed, you are entitled to recover such balance. Notwithstanding the foregoing, we have the right to retain any remaining balance if we are prohibited by law or a court order to release such digital crypto asset or where we have reasonable grounds to suspect that such digital crypto asset was obtained through fraud or any unlawful means violating these T&Cs, prevailing regulations or connected with any criminal activities.
GOVERNING LAW AND ARBITRATION
- These T&Cs are governed by the laws of the Republic of Indonesia.
- Any dispute or claim arising out of or in connection with these T&Cs, or any noncompliance, termination or defect thereof, shall be finally settled by arbitration in accordance with the arbitration rules of the Indonesian National Arbitration Board (“BANI”) based on the prevailing regulation adopted by BANI. The arbitration process shall be held with 1 (one) arbitrator appointed by Chairman of BANI. The arbitration is in Jakarta. Any arbitral award is final and binding to the parties.
MISCELLANEOUS
- Severability: The invalidity of the whole or part of any provisions of these T&Cs shall not affect the validity of the whole or part of any other provisions of these T&Cs, and the remaining portions of these T&Cs shall remain in full force and effect.
- Language: These T&Cs are made bilingual in Bahasa Indonesia and English. In the event of inconsistency between the Bahasa Indonesia version and the English version of these T&Cs, the Bahasa Indonesia version shall prevail.