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These Digital Assets Payment Terms govern the collection and remittance of the Donations in the form of the Digital Assets. All capitalized terms herein shall have the meaning set forth in the Terms of Service unless otherwise specified herein.
In order to perform the Agency Agreement in relation to the Digital Assets, the Company engages a third-party Digital Assets processing service provider (“Crypto Processor”) to collect Donations in the form of the Digital Assets from the Users and to remit such Donations to the Broadcasters after deduction of the Agency Fee (as set forth below in Table 1) and other applicable fees as set forth in these Digital Assets Payment Terms, in the DA Platform interface or otherwise charged by the underlying blockchain networks and the Crypto Processor.
In no event does the Company act as the Digital Assets processing agent, wallet provider, custodian, broker, or exchange. All transactions involving the Digital Assets are executed directly on the relevant distributed ledger networks and through the services of third-party providers.
The relationship between the Broadcaster/Users and any third-party provider processing Donations in the form of Digital Assets is governed by that provider’s applicable terms and conditions, as amended from time to time, currently available at emcd.io. The Company is not a party to that agreement.
The Users have the opportunity to transfer any of the supported Digital Assets as the Donation. The list of the Digital Assets and blockchain networks, supported by the Crypto Processor, will be shown in the Digital Asset Donation transfer interface, and may be amended from time to time. Neither the Company nor the Crypto Processor shall be responsible for any unsupported Digital Assets, and such transfers are under the risk of unrecoverable loss.
The User is solely and fully responsible for selecting the correct Digital Asset, blockchain network, wallet address and any other transaction parameters when initiating any Donations. Neither the Company nor the Crypto Processor has any obligation to verify, validate or correct the Digital Asset, network or address chosen by the User.
Any Digital Assets that are (i) unsupported Digital Asset or network, (ii) sent to an incorrect, incompatible or non-operational address, or (iii) otherwise transferred in error, will be permanently and irreversibly lost. The User expressly acknowledges and agrees that such transfers are final and non-refundable and that, in all cases, neither the Company nor the Crypto Processor will refund, reverse, restore, replace, insure or otherwise compensate the User for any such loss.
The Donations received in a Digital Asset different from USDT will be converted to USDT. Such conversion will be made using the exchange rate of the Crypto Processor following the receipt of such Donation. Exchange rates displayed within the DA Platform are indicative only and may differ from the rate actually applied at the time of conversion. Neither the Company nor the Crypto Processor provides any warranties or undertakings in relation to the Digital Assets' price, exchange rate, liquidity or value.
Due to technical limitations and blockchain fees of the underlying blockchain networks, the amount actually received may differ from the amount initiated by the User when making a Donation.
The User and the Broadcaster acknowledge and agree that (i) the value of Digital Assets is volatile, (ii) the exchange rate at the time of User’s payment may differ from the exchange rate at the time of conversion, and (iii) the Company shall not be liable for any losses arising from such volatility or exchange rate fluctuations.
The remittance of the Donations received in the form of the Digital Assets will be made to the Digital Assets wallet of the Broadcaster opened and maintained with the Crypto Processor, and is only available in USDT. The remittance shall be deemed performed when the transfer is recorded and confirmed by the Crypto Processor.
The Broadcaster must provide the Company with valid, accurate and up-to-date information requested on the DA Platform or otherwise requested by the Company or the Crypto Processor (including, without limitation, the correct wallet address and correct blockchain network). The Broadcaster bears all risks of providing incorrect, outdated or incompatible payout details.
The Company will make a reasonable effort to remit on a daily basis, subject to (i) confirmation of the relevant transaction on the applicable blockchain network, (ii) settlement rules and technical limitations of the Crypto Processor, (iii) the Broadcaster’s ongoing compliance with KYC procedures of the Company.
User verification on the Internet is difficult and the Company does not assume any responsibility for the confirmation of any Broadcaster or User identity except expressly provided by applicable law. Notwithstanding the above, for transparency and fraud prevention purposes, and as permitted by the applicable laws, the Company may, but has no obligation to (i) ask the Broadcasters or the Users to provide a form of government identification or other information or undertake additional checks designed to help verify the identities or backgrounds of them, (ii) screen the Broadcasters and the Users against third party databases or other sources and request reports from service providers, and (iii) where the Company has sufficient information to identify the Broadcaster or the User, obtain reports from public records of criminal convictions or sex offender registrations or an equivalent version of background or registered sex offender checks in the Broadcaster's or User's local jurisdiction.
The Crypto Processor and any other third-party providers apply their own KYC and verification procedures, for which the Company is not responsible, and any related questions must be addressed directly by the Broadcaster to the relevant provider.
The Company will charge an Agency Fee to the Broadcaster, which shall be automatically deducted from the amount of the Digital Assets received as the Donations and converted to USDT, as set forth in Table 1 below:
Table 1
| Payment method | Agency Fee |
|---|---|
| Transfer of the Digital Assets by the Users | 15% |
The Company may deduct or withhold any taxes that the Company may be legally obligated to deduct or withhold from any amounts payable to the Broadcaster under the Agency Agreement. From time to time, the Company may request tax information from the Broadcaster and the Broadcaster shall provide this to the Company.
In case a Broadcaster receives the Donations resulting from the usage of additional functionality of the DA Platform, the Company will deduct the amount of the Agency Fee, as set forth in the DA Platform interface, instead of the deduction of the Agency Fee calculated in accordance with Table 1.
The Crypto Processor and any other third-party providers apply their own commissions for the transfer, deposit, withdrawal, or remittance of the Digital Assets, for which the Company is not responsible, and any related questions must be addressed directly by the Broadcaster or the User to the relevant provider.
The Company may delay for such period as is reasonably necessary, but in no case more than 90 days (“Investigation Period”), and/or cancel any collection of the Donations from the User and/or the following remittance to the Broadcaster for purposes of preventing unlawful activity or fraud, risk assessment, security, or investigation. If the Agency Agreement between the Company and the Broadcaster is terminated during the Investigation Period, the Company reserves the right to delay the fulfilment of its obligations in respect of collection or cancellation of collection and/or any subsequent remittance of the Donations to the Broadcaster until the end of the Investigation Period. The Broadcaster may provide the Company the documentary confirmation of absence of unlawful activity or fraud for possible acceleration of the investigation.
The minimum amount of each Donation in the form of the Digital Assets is the equivalent of 10 USD.
Each Donation in the form of the Digital Assets is limited to the equivalent of 1,000 USD.
The maximum cumulative amount of Donations in the form of the Digital Assets cannot exceed the equivalent of 50,000 USD per day, 100,000 USD per week, 200,000 USD per month.
By choosing to make the Donation in the Digital Assets as a User, or collect the Donation as a Broadcaster, you acknowledge and agree that the Digital Assets are highly volatile and involve a high degree of risk, including, but not limited to, rapid price fluctuations, potential loss of value, technology and cybersecurity risks, and changes in the applicable legal and regulatory framework. You are solely responsible for assessing and accepting all such risks before proceeding with a payment in the Digital Assets.
The Company does not provide any investment, legal, tax or other professional advice in connection with the Digital Assets and makes no representation or warranty as to the future value, legal status or availability of any Digital Asset. You should carefully consider your financial situation and, if necessary, seek independent professional advice before making any transactions with the Digital Assets.
Only the English version of this document has legal effect. Any translations of this document to other languages are provided for your convenience only.
