6. Lending and Borrowing Digital Assets on Polemos

6.1 Definitions

• Armory Rental Service: the lending and borrowing service as part of our Services.

• Commission Fee: means our commission fees based on the fee accrual system on Armory Rental Service.

• Owner(s): means the Armory users and/or us who directly stake in the Armory Rental Service with their own Digital Assets and lend the Digital Assets;

• Polemos Wallet: means the wallet function on our Services controlled by us.

• Rent Price: means the price defined by us OR THE MARKET from time to time in relation to THE DIGITAL ASSET BORROWED.

6.2 Use of Armory Rental Service

• 6.2.1 The exact Rent Price for the Rental of these Digital Assets is published on an “as is” and “as available basis” on the Armory Rental Service from time to time.

• 6.2.2 If you are registering on our website to use our Armory Rental Service, in your personal capacity, in order to effectively accept these Terms, you must be at least 18 years old (or the age of majority in your jurisdiction), with full civil rights and civil capacity, and have all the necessary authorities and abilities to sign these Terms. Once signed, it is binding on you.

6.3 Lending

• 6.3.1 When utilising the Armory Rental Service as an Owner, you agree that there are certain risks involved as set out in section 8.5 of these Terms. Accordingly, you agree that we are indemnified from any and all liabilities should any of the events in section 8.5 occur.

• 6.3.2 The Rent Price’s fee accrual system is determined by us. You agree that the fee accrual system is determined by the total rental income and other Digital Assets staked on the Armory Rental Service.

• 6.3.3 The Owner agrees and authorises us to deduct its Commission Fee from the total Rent Price before distributing the allocations based on the fee accrual system on the Armory Rental Service.

• 6.3.4 The Owner is responsible for collecting their portion of the Rent Price, i.e. their yield and claim fees on the Armory Rental Service.

• 6.3.5 Lenders agree there is some risk to the asset lent, that they must claim fees/yield allocated to them (which will be paid with 5 business days of the claim), that fee accrual is at our sole discretion and will depend on total rental income and other assets staked in our Services, and that we will deduct a fee from the total rental income before allocations to lenders are calculated.

6.4 Borrowing

• 6.4.1 The Owner defines the Rent Price and the maximum duration of such the Digital Asset(s) before listing it on the marketplace.

• 6.4.2 After the User confirms the Digital Asset(s) they would like to rent, they shall submit an order to borrow that Digital Asset(s) on the marketplace available on the Armory Rental Service.

• 6.4.3 Once the request is approved, the relevant Digital Assets will be deposited in your Polemos Wallet in accordance with these Rental Terms.

6.5 Fees and Payment

• 6.5.1 Any transaction from the site or marketplace will be done through smart contracts on a blockchain using a wallet. Any financial transactions that you engage in will be conducted solely through the blockchain via a wallet. We will have no insight into or control over these payments or transactions, nor do we have the ability to reverse any transactions. Accordingly, we will have no liability to you or to any third party for any claims or damages that may arise as a result of any transactions that you engage on our website or using the smart contracts, or any other transactions that you conduct via the selected Blockchain network,

• 6.5.2 The blockchain requires the payment of a transaction fee (a “Gas Fee”) for every transaction that occurs on the network. The Gas Fee funds the network of computers that run the your selected blockchain. This means that you will need to pay a Gas Fee for each transaction that occurs via the Services.

• 6.5.3 In addition to the Gas Fee, each time you utilize a Smart Contract to conduct a transaction with another user via the Armory Rental Service, you authorize us to collect a commission published on the Armory Rental Service from time to time (each, a “Commission Fee”). You acknowledge and agree that the Commission Fee will be transferred directly to us through the selected blockchain as a part of the transaction.

• 6.5.4 As between us, you will be solely responsible to pay any and all sales, use, valueadded and other taxes, duties, and assessments (except taxes on our net income) now or hereafter claimed or imposed by any governmental authority (collectively, “Taxes”) associated with your use of our Services (including, without limitation, any Taxes that may become payable as the result of your ownership, transfer of any Digital Asset). Except for income taxes levied on us, you: (i) will pay or reimburse us for all national, federal, state, local, or other taxes and assessments of any jurisdiction, including value-added taxes and taxes as required by international tax treaties, customs or other import or export taxes, and amounts levied in lieu thereof based on charges set, services performed or payments made hereunder, as are now or hereafter may be imposed under the authority of any national, state, local or any other taxing jurisdiction; and (ii) shall not be entitled to deduct the amount of any such taxes, duties or assessments from payments made to us pursuant to these Terms.

6.6 Restrictions on this Armory Rental Service

Under the following circumstances, we may suspend or terminate this Service and may restrict the functions of this Service that you may use:

• 6.6.1 Upon the occurrence of the following circumstances, you agree and authorize us to directly retrieve the Digital Assets in your Polemos Wallet:

  • (A) The term of the Rental Service as agreed in these Terms has expired;

  • (B) You have been held criminally responsible for any illegal acts;

  • (C) Your whereabouts are unknown, and have been declared missing or deceased, and there are no heirs or legal representatives claiming relevant rights within 10 days after we become aware of your status as above-mentioned.

• 6.6.2 Upon occurrence of any of the events above, you agree and authorize us to execute the retrieval of the Digital Asset on your behalf; whereupon we shall send you a written notification. After the notification is issued, we will transfer the Digital Asset(s) back to the Owner’s wallet.

• 6.6.3 Other circumstances where we, based on its reasonable judgement, believe that it is necessary to suspend or terminate the provision of this Service.

• 6.6.4 If you have any acts including without limitation, any breach of these Terms, infringement, or fail to perform these Terms before this Service is suspended, terminated, discontinued or restricted, you shall still be responsible for the corresponding liabilities.