osETH User Agreement
Last Revised: November 28, 2023

By obtaining a cryptographic receipt token (“osETH”) that represents ownership of your ether (“ETH”) staked via the StakeWise V3 protocol (the “Protocol”), either through direct use of the Protocol or a subsequent transfer from the prior owner of the osETH, you agree to the terms of this osETH User Agreement (the “User Agreement”) by and between you and Creative Tech Free Zone Co. (“StakeWise” or “we”). If you do not agree to all of the terms of this User Agreement, please immediately discontinue access to, and use of, osETH.



  1. osETH.
    1. Users of the Ethereum network may elect to commit (or “stake”) units of ETH to a validator node and thereby participate in network consensus. Stakers risk the destruction of some or all of such committed ETH as a penalty imposed by the Ethereum network for failing to follow consensus rules (a “Slashing Penalty”). The Ethereum network may, from time to time, reward stakers with additional units of ETH (“Network Rewards”) for performing this service.
    2. The Protocol allows users to stake units of ETH through a series of on-chain smart contracts that programmatically allocate the users’ ETH to validator node infrastructure providers (each a “Validator”) that are integrated with the Protocol. When a user stakes ETH through the Protocol, the user may request that the Protocol generate osETH to document the user’s ownership of the corresponding staked ETH.
    3. osETH is a cryptographic receipt token that evidences that the token holder is entitled to receive, control, hold, and dispose of the original amount of staked ETH plus any accrued Network Rewards and less any Slashing Penalties. As the holder of osETH, you are the legal and beneficial owner of the corresponding ETH staked via the Protocol, including any accrued Network Rewards and net of Slashing Penalties.
    4. osETH is freely transferable to any ERC-20 compatible digital wallet. Each unit of osETH is divisible into fractional units that each evidence ownership of a corresponding fractional amount of staked ETH. A transfer of ownership of osETH results in a transfer of ownership of the corresponding staked ETH as well as the benefits and burdens of the staked ETH (i.e., Network Rewards and Slashing Penalties).
  2. Eligibility Requirements. To be eligible to purchase, obtain, access or use osETH, you must satisfy each of the following eligibility requirements:
    1. You are at least eighteen (18) years of age, or are the legal age for entering legally binding agreements under applicable law;
    2. You are not, nor are you an entity that is, or an entity owned or controlled by any person or entity that is, or conducting any activities itself or on behalf of any person or entity that is: the subject of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S. Department of State or any other governmental authority with jurisdiction over the party; identified on the Denied Persons, Entity or Unverified Lists of the U.S. Department of Commerce’s Bureau of Industry and Security; or located, organized or resident in a country or territory that is, or whose government is, the subject of economic sanctions, including, without limitation, Russia, Crimea, Cuba, Iran, North Korea or Syria (each, a “Restricted Person”); and
    3. You are not purchasing, obtaining, accessing or using osETH on behalf of a Restricted Person.
  3. Service Fees; Taxes.
    1. When you mint osETH, you will be required to pay fees (“Service Fees”) to the Protocol in consideration for certain administrative services, including, among other things, those performed by Validators. The Service Fees in effect at a given time are set forth at https://docs.stakewise.io/protocol-overview-in-depth/fees and may change from time to time.
    2. You are solely responsible for the payment of any and all taxes, levies, imposts, duties, charges, assessments or fees of any nature imposed by any tax authority with respect to your osETH, the corresponding staked ETH and all transactions thereof, including in connection with any Network Rewards and/or Slashing Penalties.
  4. Slashing Penalties; Slashing Coverage.
    1. As a holder of osETH, you acknowledge and agree that your staked ETH may from time to time be subject to Slashing Penalties.
    2. In the event that the Ethereum network assesses a Slashing Penalty against the fungible bulk of ETH committed by osETH holders, each unit of osETH will be redeemable for a correspondingly reduced amount of staked ETH.
  5. Risks; Disclaimers.
    1. You acknowledge that osETH incorporates experimental and novel technology and that the use of such technology involves a high degree of risk. For example, there are numerous reasons osETH and/or the Protocol could fail in an unexpected way, resulting in the total and absolute loss of your osETH or ETH. You hereby agree that you assume all risks in connection with your use of osETH and expressly waive and release StakeWise from any and all liability, claims, causes of actions or damages arising out of or in any way relating to you obtaining or using osETH.
    2. Except as expressly set forth herein, osETH will be issued by the Protocol on an “as-is” and “as available” basis and we do not make any warranties with respect to such “as-is” and “as available” basis or otherwise in connection with this User Agreement (except as expressly provided herein) and we hereby disclaim any and all express, implied or statutory warranties and conditions, including any warranties or conditions of non-infringement, merchantability, fitness for a particular purpose, availability, error-free or uninterrupted operation, and any warranties arising from a course of dealing, course of performance or usage of trade. To the extent that StakeWise may not, as a matter of applicable law, disclaim any implied warranty or condition, the scope and duration of such warranty or condition shall be applied to the minimum extent permitted under such applicable law.
    3. Without limiting the foregoing, we make no representations or warranties with regard to the potential market for or resale price of osETH or the amount of Networks Rewards that may be generated by your staked ETH pursuant to this User Agreement.
  6. Limitation of Liability.
    1. We shall not be liable to you for any loss of osETH. Any presumption of conversion under applicable law shall not be applicable to a loss of osETH.
    2. In no event shall we be liable to you for any consequential, indirect, incidental or special damages of any type or nature however arising, including, without limitation, exemplary or punitive damages, lost profits or revenues or diminution in value, arising out of or relating to you obtaining osETH or using osETH, whether or not the possibility of such damages has been disclosed to or could have been reasonably foreseen by you, regardless of the legal or equitable theory (contract, tort or otherwise) upon which the claim is based. In addition, under no circumstances shall StakeWise’s aggregate liability under this User Agreement exceed the lesser of: (i) the total amount of Service Fees paid by you to StakeWise in connection with your osETH for the services rendered hereunder; or (ii) $1,000.
  7. Dispute Resolution; Agreement to Arbitrate.
    1. All disputes, claims and controversies, whether based on past, present or future events, arising out of or relating to statutory or common law claims, the breach, termination, enforcement, interpretation or validity of any provision of this User Agreement, and the determination of the scope or applicability of your agreement to arbitrate any dispute, claim or controversy originating from the User Agreement, will be determined by binding arbitration in London, U.K. under the London Court of International Arbitration (“LCIA”) rules (the “LCIA Rules”), which are deemed to be incorporated by reference into the User Agreement, before a single arbitrator. The language to be used in the arbitral proceedings shall be English.
    2. The arbitrator will apply the substantive law of the United Arab Emirates, excluding its conflict or choice of law rules.
    3. Nothing in the User Agreement will preclude the parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.
    4. A party must notify the other party of its intent to commence arbitration prior to commencing arbitration. The notice must specify the date on which the arbitration demand is intended to be filed, which must be at least thirty (30) days after the date of the notice. During this time period, the parties will meet for the purpose of resolving the dispute prior to commencing arbitration.
    5. Subject to Section 7.4, each party may commence arbitration by providing to the LCIA and the other party to the dispute a written demand for arbitration, stating the subject of the dispute and the relief requested.
    6. Subject to the disclaimers and limitations of liability stated in the User Agreement, the appointed arbitrators may award monetary damages and any other remedies allowed by the laws of the United Arab Emirates. In making a determination, the arbitrator will not have the authority to modify any term of the User Agreement. The arbitrator will deliver a reasoned, written decision with respect to the dispute to each party, who will promptly act in accordance with the arbitrator’s decision. Any award (including interim or final remedies) may be confirmed in or enforced by a court located in the United Arab Emirates. The decision of the arbitrator will be final and binding on the parties, and will not be subject to appeal or review.
    7. The party initiating the arbitration is responsible for paying the applicable filing fee. Each party will advance one-half of the fees and expenses of the arbitrator, the costs of the attendance of the arbitration reporter at the arbitration hearing and the costs of the arbitration facility. In any arbitration arising out of or relating to the User Agreement, the arbitrator will award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with those aspects of its claims or defenses on which it prevails, and any opposing awards of costs and legal fees awards will be offset.
    8. The parties will keep confidential the existence of the arbitration, the arbitration proceeding, the hearing and the arbitrator’s decision, except (a) as necessary to prepare for and conduct the arbitration hearing on the merits; (b) in connection with a court application for a preliminary remedy, or confirmation of an arbitrator’s decision or its enforcement; (c) StakeWise may disclose the arbitrator’s decision in confidential settlement negotiations; (d) each party may disclose as necessary to professional advisors that are subject to a strict duty of confidentiality; and (e) as applicable law otherwise requires. The parties, witnesses and arbitrator will treat as confidential and will not disclose to any third person (other than witnesses or experts) any documentary or other evidence produced in any arbitration, except as applicable law so requires or if the evidence was obtained from the public domain or was otherwise obtained independently from the arbitration.
    9. In the case of a conflict between the provisions of this Section 7 and the LCIA Rules, the provisions of this Section 7 shall prevail.
    10. To the extent permitted by applicable law, any dispute arising out of or relating to the User Agreement, whether in arbitration or in court, shall be conducted only on an individual basis and not in a class, consolidated or representative action. Notwithstanding any other provision of the User Agreement or the LCIA Rules, disputes regarding the interpretation, applicability or enforceability of this class waiver may be resolved only by a court and not by an arbitrator. If this waiver of class or consolidated actions is deemed invalid or unenforceable, neither party is entitled to arbitration.
    11. If for any reason a claim or dispute proceeds in court rather than through arbitration, each party knowingly and irrevocably waives any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to the User Agreement.
  8. General Provisions.
    1. You agree that you will not use osETH to engage in or facilitate any activity that would violate, or assist in the violation of, any law, statute, ordinance, regulation or sanctions programs administered in any relevant country, including but not limited to the U.S. Department of Treasury's Office of Foreign Assets Control, or which would involve proceeds of any unlawful activity.
    2. If any provision of this User Agreement is declared to be invalid, illegal or unenforceable by a court of competent jurisdiction, then the validity, legality and enforceability of the remaining provisions contained herein shall not be affected thereby and the remainder of these provisions of this User Agreement shall remain valid, legal and enforceable to the fullest extent permitted by law.
    3. This User Agreement will be construed in accordance with the laws of the United Arab Emirates, as applied to contracts made and performed entirely therein, and without regard to conflicts of law principles.
    4. This User Agreement does not, and shall not be construed to, create any partnership, joint venture or agency between you and us.
    5. You shall not assign any of your rights or obligations under this User Agreement, and any purported assignment or transfer shall be null and void. This User Agreement constitutes the entire agreement between you and StakeWise with respect to osETH, and supersedes any and all prior or contemporaneous written or oral agreements or understandings between you and StakeWise relating to osETH.
    6. This User Agreement may be modified or revised at any time, with or without prior notice to you, unless stated otherwise. The most current version of this User Agreement will be posted on https://stakewise.io (the “Website”) with the “Last Revised” date at the top of the User Agreement changed. Any modifications or revisions will be effective immediately upon posting the modifications or revisions to the Website. You shall be responsible for reviewing and becoming familiar with any modifications or revisions. You waive any right you may have to receive specific notice of such modifications or revisions. Accessing or using osETH constitutes your acceptance of the User Agreement as modified or revised. If you do not agree to the User Agreement in effect, please immediately discontinue access to, and use of, osETH.
    7. By accessing or using the Services, you consent to receive electronic communications.
    8. StakeWise may provide you with notice and other communications via electronic communications as permitted by Section 8.7. You may provide us with notice by sending an email address to info@stakewise.io. All notices will be deemed effective upon dispatch.
    9. This User Agreement shall become effective upon the date you first obtain osETH or access the Protocol, whichever is earlier, and shall continue in effect for as long as you hold any osETH.