Terms of Service

These Terms of Use (the Agreement) operate between you (hereinafter referred to as ‘you’ or ‘your’) and Blockworks B.V. (hereinafter referred to as Flits). By agreeing to use any of the services made available by Flits or one of its affiliates through the website (https://flitsnode.app), the mobile application (the App), or any related services provided by Flits or its affiliates (collectively referred to as the Services), you agree that you have read, understood, and unconditionally accepted all of the Terms of Use contained in this Agreement and our Privacy Policy. In addition, you hereby acknowledge to be aware that by using certain features of our Services, you may be subject to additional Terms of Use.

Article 1 – General Terms of Use
  1. These Terms of Use form a legally binding Agreement between you and Flits and govern the use of our Services.
  2. By registering your details on our website or App, or using any Services provided by Flits, you agree to be bound by these Terms of Use. If you do not accept all the Terms of Use of service, you must not use or access the website or App.
  3. Flits reserves the right to limit your activity on the website and/or App, or terminate your registration without notice for any reason, but in any case, following a breach of these Terms of Use.
  4. Access to the Services will require the submission of certain personally identifiable information. Please review our Privacy Policy for a detailed description of our practices relating to the collection, use, and storage of personally identifiable information.
  5. This Agreement, together with all amendments, all documents referenced in this Agreement, and any other legal notices and agreements published by Flits via the Service, shall constitute the entire legal agreement between you and Flits concerning the Service.
  6. In the event that one or more of the provisions in these Terms of Use are found to be void, either in whole or in part, the remaining provisions will remain in force. Flits will formulate new provisions to replace the voided provisions, during which the scope of the original provisions will be considered carefully.
  7. Flits is permitted to amend these Terms of Use unilaterally. The amended Terms of Use are immediately applicable to the Agreement between you and Flits. You will be notified of these amendments via a push notification in the App.
Article 2 – Definitions
  1. In these definitions

    “Account” shall mean the account of a user with Flits, which is created when a Customer registers with Flits by completing the registration form available on the Platform;

    “Flits”, “we” and “us” are references to Blockworks B.V., a limited company incorporated in the Netherlands with registered number 77369432 and registered address at Industrieweg 74, Waalwijk, the Netherlands;

    “Cryptocurrency” means any digital asset which we support on the Platform, including Bitcoin;

    “Customer”, “Your” and “You” means a user of the Platform who uses the Platform on the App or who uses the website;

    “Digital Tokens Address” means an alphanumeric identifier that represents a potential destination for a Digital Tokens transfer, which typically is associated with a Customer’s Digital Tokens Wallet;

    “Masternodes” means a crypto full node that hosts an entire copy of a currency’s ledger in real time. In return the Masternode will receive cryptocurrency as a reward.

    “Platform” means the trading platform published by Flits on the App.

Article 3 – The Scope of the Services
  1. Flits provides a Platform where you can host and monitor Masternodes, as well as stake your digital assets through the medium of the Flits Platform.
  2. Flits merely provides the Platform to facilitate its Services, but nothing in these Terms of Use suggests that Flits is a buyer or seller in any trade of Cryptocurrency.
  3. Flits does not provide investment, tax, or legal advice. The Customer is solely responsible for evaluating the merits and risks associated with the use of our Services before making any investment or other decision based on these Services.
  4. The Customer hereby acknowledges to be aware that the Services offered on the Platform largely fall outside the scope of sovereign regulation.
  5. Flits will provide the Services to you using reasonable skill and care, but at all times this will be subject to any downtime caused by scheduled or emergency maintenance or repair. Flits will use our reasonable endeavours to ensure that any disruption to the Services is minimal and any scheduled work takes place during off-peak hours when possible. Flits will not be liable to you or any third party for losses whatsoever caused by any such downtime; whether emergency or scheduled.
  6. Flits is not responsible or liable for any losses suffered by Customer as set out under Article 9.

    The Services should not be considered a solicitation to any person in any jurisdiction where such solicitation would be illegal.

    We reserve the right, at our sole discretion, to modify, discontinue, replace – either temporarily or permanently – the Services, at any time with or without notice. You agree that Flits will not be liable to you or any third party for any modification, suspension, or discontinuance of the Services. We have no obligation to retain your Account for any period of time beyond what may be requires by applicable law.

Article 4 – Accounts and Registration
  1. By registering on our website or App, you represent and warrant that you (a) are at least 18 years old or of legal age to form a binding contract under the applicable law, (b) are an individual, legal person, or other organization with full legal capacity and authority to enter into these Terms of Use, (c) provide true, current, and complete information to us during the initial registration process and thereafter, (d) have not been previously removed or suspended from using our Services, and (e) you do not currently have an existing Account already.
  2. To register for an Account, you must provide your name, cryptographic address, as well as accept these Terms of Use, and our Privacy Policy.
  3. You can create an account using your email or SEED. A SEED account is protected with a 24-character login key, which is an alternative to an email account, providing additional privacy. If you decide to use a SEED account, you understand and agree that Flits will not be able to notify you of any changes or updates to the Services via email.
  4. Flits is not responsible or liable in any way for the loss of your SEED. The Customer hereby acknowledges that he/she uses SEED at his/her own risk and is fully responsible for the storage of these details.
  5. Flits reserves the right to, in its sole discretion, refuse to open an Account for you or to freeze an Account pending further investigation.
  6. You agree to share personal information requested for the purposes of registration. We will collect, use, and share this information in accordance with our Privacy Policy.
  7. Once your Account is registered, you will be able to invest in Masternodes and manage your underlying portfolio.
  8. You further agree that you will not use any Account other than for your own use, or access the Account of any other registered Customer at any time, or assist others in obtaining unauthorized access.
  9. You agree that you will not use the Services to perform any criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. In addition, you warrant not to use methods to conceal the location from which you access the Platform and that you will disclose to Flits your accurate and true location.
  10. Flits reserves the right to monitor the performance and statistics of your Account. All Accounts are anonymous and therefore Flits will not access any personal information when doing so. In order to retain anonymity, individual Accounts are linked to a specific number.
Article 5 – Payments and Cost
  1. You can load crypto currencies into your balance on the Flits App. When funds are loaded onto the App, you will be able to invest right away in Masternodes or staking coins.
  2. You are able to sell the rewards from the Masternodes and/or staking coins back to Bitcoin.
  3. Flits reserves the right to add or remove payment methods on the Platform, without giving reasons for doing so and without giving notice.
  4. It is your sole responsibility to make the correct cryptographic address known to others in order to receive payments and to send your currency to a correct cryptographic address. Flits is not responsible for the loss of any currency as a result of the incorrect use of cryptographic addresses.
  5. Where an incorrect transaction is made as a result of an error on our side, we shall refund to you the amount of that transaction without undue delay.
  6. Due to the nature of our Services, it is not possible for an unauthorized or incorrect transaction to be reversed.
  7. In order to be able to host a Masternode on our Platform, a minimum number of coins is required. This required number of coins is called a collateral and forms the Masternode.
  8. The rate for using the Services on our Platform is USD 0.10 per hosted Masternode per day. Flits reserves the right to unilaterally change this fee without giving reasons and without notice.
Article 6 - Suspension, Termination and Cancellation
  1. We reserve the right to (a) suspend, restrict, or terminate your access to any or all of the Services, and/or (c) deactivate or cancel your Account with immediate effect for any reason, including but not limited to where:
    1. We reasonably believe that we need to do so in order to protect our reputation;
    2. We are required to do so by applicable law, regulation, or any court of other authority to which we are subject in any jurisdiction;
    3. We suspect you are acting in breach of these Terms of Use;
    4. We have concerns that a transaction is erroneous or about the security of your Account, or we suspect the Services are being used in a fraudulent or unauthorized manner;
    5. Use of your Account is subject to pending litigation, investigation, or proceeding and/or we perceive a heightened risk of legal or regulatory non- compliance associated with your Account activity; and/or
    6. You take any action that may circumvent our controls such as opening multiple Accounts.
  2. On termination of your Account for any reason, unless prohibited by applicable law or by any court to which Flits is subject in any jurisdiction, you are still permitted to access your Account for ninety (90) days thereafter for the purpose of transferring coins or Cryptocurrency. You are not permitted to use the Services or your Account for any other purposes.
Article 7 – Liability
  1. To the maximum extent permitted under applicable law, the Flits Services and Platform are provided on an “as is” and “as available” basis.
  2. Flits expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including implied warranties of merchantability. Without limiting the foregoing, Flits does not claim that the Services or the Platform are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components.
  3. To the fullest extent permitted by applicable law, you agree to release, indemnify, and hold Flits and its affiliates, officers, employees, directors, and agents harmless from any and all losses, damages, expenses, including reasonable attorneys’ fees, rights, claims, actions of any kind and injury arising out of or relating to your use of the Services, your connection to the Services, your violation of these Terms of Use or your violation of any rights of another, your content or any content that is submitted via your Account, your wilful misconduct, or any other party’s access and use of the Services via your Account.
  4. In the event that the Flits Services are sold or acquired by a different party, Flits will no longer be liable or responsible for the Services or any damages, claims or complaints relating thereto.
  5. Except for the express statements set forth under these Terms of Use, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the Services. Without limiting the foregoing, you hereby understand and agree that Flits will not be liable for any losses or damages arising out of or relating to: (a) any inaccuracy, defect, or omission of price data, (b) any error or delay in the transmission of such data, (c) interruption of such data and (d) any damages incurred through another Customer’s actions, omissions, or violation of these Terms of Use.
  6. To the maximum extent permitted by applicable law, in no event will Flits or any of its shareholders, employees, agents, representatives, or contractors be liable for any incidental, indirect, special, punitive, consequential, or similar damages or liabilities whatsoever. This includes, without limitation, damages for loss of data, information, revenue, profits or other business or financial benefit.
  7. You agree to indemnify and hold harmless Flits, its shareholders, members, affiliates, employees, agents, representatives, and contractors from and against any claims, actions, proceedings, suits, costs, investigations, expenses, and damages arising out of or related to (i) your use of or conduct in connection with the Services, (ii) your breach of or our enforcement of these Terms of Use, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Service.
  8. If Flits cannot fulfil its obligations under the Services in time or properly, due to force majeure, it is not liable for damage suffered by you. Force majeure is in any case understood to mean any circumstance that Flits could not take into account at the time of the creation of your Account and as a result of which the normal execution of the Services cannot reasonably be required by you, such as, for example, illness, war or danger of war, civil war and riot, sabotage, terrorism, energy disruption, flood, earthquake, fire, government measures, transport difficulties, and other (technical) disruptions within Flits.
  9. Flits is not your broker, agent or advisor and has no fiduciary relationship or obligation to you with respect to your use of the Services. No communication or information provided to you is intended as investment advice, financial advice, trading advice, or any sort of advice. You should consult your legal or tax professional regarding your specific situation. Flits will not be held responsible for the decisions you make to invest in, sell, or hold Cryptocurrency based on the information provided by us.
Article 8 - Intellectual Property Rights
  1. All content on our Platform is the property of Flits, and it protected by copyright, and any other applicable laws, unless otherwise specified hereby.
  2. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Platform belong to Flits. Any content on the Platform should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from the Platform on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
Article 9 - Affiliate Program
  1. Flits authorizes specific Customers to direct and attract new users to its Platform (the Affiliates). Flits selects these Affiliates carefully, but is nevertheless not liable or responsible for any of their actions, representations, warranties, or behaviour. The Affiliates carry full responsibility in their communications with potential new users. If an Affiliate behaves in such a way that it damages Flits, either directly or indirectly, they may be liable for these damages to Flits under Article 7.3.
  2. Specific rules and obligations relating to the Affiliates are set out on the App. The information on the App on Affiliates should always be considered as up to date and leading.
Article 10 - Miscellaneous
  1. Flits is an independent contractor and not an agent of you in the performance of these Terms of Use. These Terms of Use should not be interpreted as evidence of an association, joint venture or partnership.
  2. Our failure to require your performance of any provision herein will not affect our right to require performance at any time thereafter, nor will a waiver of any breach or default of these Terms of Use or any provision of these Terms of Use constitute a waiver of any subsequent breach or default or a waiver of the provision itself.
  3. Only Dutch law applies to the legal relationship between Flits and you. The court in Amsterdam is authorized (in the first instance) to take cognizance of any dispute between Flits and you, unless otherwise required by law.