Terms of Service
Last Updated: July 14, 2021
These terms and conditions outline the rules and regulations for the use of Pixabits LLC's Helium Rising Website, located at www.HeliumRising.com and dashboard.patrium.app, and participating in Helium Rising’s managed validator services. By accessing this website and/using our services you accept these terms and conditions. Do not continue to use Helium Rising if you do not agree to all of the terms and conditions stated on this page. The following terminology applies to these Terms and Conditions, Privacy Statement and all other agreements we make with you: "Client", "You" and "Your" refers to you, the person logging on this website and compliant to the Company’s terms and conditions. "The Company", "Ourselves", "We", "Our", "Us", and "Pixabits" refers to Pixabits LLC. "Party", "Parties", or "Us", refers to both the Client and ourselves. All terms refer to the offer, acceptance and consideration necessary to undertake the process of our assistance to the Client in the most appropriate manner for the express purpose of meeting the Client’s needs in respect of provision of the Company’s stated services, in accordance with and subject to, prevailing law of the Commonwealth of Virginia in the United States of America. Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.
Helium Validator Information Technology Services
Pixabits provides information technology and computer server infrastructure services. Pixabits is not a financial institution, advisory service, or investment vehicle.
Validator nodes are an entity on the Helium Blockchain that will perform the work of the consensus group including verifying transactions, and adding new blocks to the blockchain. To host a Validator node requires a stake (deposit) of 10,000 HNT and running Validator node software in a suitable IT environment. In return for staking, users contribute to network stability and earn rewards. Helium Rising is a managed Helium Blockchain validator service, providing IT infrastructure within data centers throughout the world, to assist users without the technical knowhow to operate one or more validator nodes. We operate and manage Helium validator nodes on the Helium Blockchain on behalf of voluntary participants. Helium Rising is a consortium of individuals pooling together to operate one or more validators nodes on the Helium blockchain to maintain the security and integrity of the Helium blockchain network. By participating in Helium Rising, you are helping to stake one or more validator nodes. Neither Pixabits LLC, Patrium, Helium Rising, nor any of their agents, principals, employees, and/or affiliates is selling you anything, nor have we promised you any financial return, reward or incentive. To the contrary, you are contributing your HNT for the consortium to stake one or more validator nodes, and in return you hold a beneficial share of validators commensurate with your contribution as compared to others' contributions in the same validator pool, minus our administrative fees.
Nothing herein shall be interpreted or construed to create an association, joint venture, agency relationship, or partnership between Pixabits and any user, or to impose any partnership obligation or partnership liability upon either Pixabits LLC or its users. Each user agrees to receive annually a 1099 tax form and to pay taxes thereon as required by law. Each user owns their stake, and at no time has legal or beneficial ownership of your HNT passed to us. Any benefits derived from operating one or more validator nodes by Helium Rising is personal to and taxable to each participant. Helium Rising is not an investment vehicle, does not provide any guarantees of return, and does not provide any financial products, services or advice.
Validator Manager / Fees
By participating in Helium Rising, you agree that Pixabits LLC shall serve as the manager and operator of all validator nodes we instantiate on your or the pool's behalf. Pixabits LLC shall acquire, operate, and maintain suitable computer infrastructure to operate the validator nodes throughout the world. In return, Pixabits LLC shall be compensated in the form of 1) reimbursement for actual costs incurred to operate the computer infrastructure, and 2) a management fee as a percentage of all rewards earned by the validator nodes. For multiuser pools, the management fee is as follows:
5% of rewards earned by the pool, after deduction of hard costs (server fees)
For self-staked or single-user Validator-as-a-Service offerings, the management fee is discounted 40% off the multiuser pool rate above. A multiuser pool is any pool whose rewards earnings are distributed by us to more than 1 Helium wallet. So for example, if the main pool fee is 5%, then VaaS fee is 3%.
Validator Node Continuity
Pixabits LLC may stake and/or unstake one or more validators in the ordinary course of operations at its sole and exclusive discretion. Pixabits LLC reserves the right to unstake and decommission all validator nodes in the event that Pixabits LLC intends to wind down operations, upon providing participants 1 months’ notice prior to unstake, and to subsequently return stake to each wallet from which we have received any stake from you, or as otherwise agreed, upon release of the stake by the Helium Blockchain. In the event we cease services, Pixabits will use best efforts to work with participants having enough stake for an entire validator to transfer the validator to the participant’s control in such a scenario.
Validator rewards shall be distributed to multiuser pool participants twice monthly, on the 1st and 15th of each calendar month, and shall begin by the end of the third full distribution cycle after validators are active on the Helium Blockchain mainnet, in order to provide multiple cycles for testing and auditing prior to an initial distribution to participants. When the 1st or 15th of the month falls on a weekend or holiday, payout may be delayed until the next business day.
All Helium Blockchain network transaction fees shall be deducted from each participant’s distribution at the then current DC/HNT rate and in an amount necessary for a single payment transaction (typically 35,000 DC, or $0.35), regardless of the form of payment transaction we actually use to send HNT over the Helium Blockchain. We have the option of delaying distributions (which includes reinvestments) to users until their accumulated HNT meets a minimum threshhold amount (presently 1 HNT).
Rewards distributions shall be calculated as follows:
1 HNT Staked = 1 Share
Infrastructure Fee (IF) = Actual costs of server operation, calculated based on the HNT/USD oracle price as of the date of distribution to Pixabits LLC.
Management Fee (MF) = the percentage amount indicated above.
Total Rewards for Distribution (TRD) = Total Rewards Earned – Infrastructure Fee – (Management Fee * (Total Rewards Earned - Infrastructure Fee))
Total Pool Shares (TS) = (10,000 shares) x (number of validators in pool)
Participant’s Distribution Percentage (PDP): (user’s shares) / TS
Participant’s Distribution Amount (PDA): PDP * TRD (in HNT).
Distributions are made over the Helium Blockchain in Helium Network Tokens (HNT). All transactions on the Blockchain are publicly viewable. If anyone knows your Helium wallet address, you may be identified as being related to a particular transaction, and you agree to hold us harmless for any consequences thereof.
Participating in a validator pool involves long term commitment to ensure the security and stability of the Helium Blockchain. By using our services, you agree and acknowledge that your HNT is committed to staking one or more validator nodes, and that the Helium Blockchain does not permit any wallet to withdraw HNT from staking on the Helium Blockchain for at least 250,000 blocks from the time that user decides to terminate their stake. Therefore, while we will use our best efforts to return your stake as soon as possible, e.g., by using proceeds from new shares purchased to help other users exit faster, you agree that we may take up to 5 months to return your stake to you. We are under no obligation to offer liquidity, and will do so at our own sole discretion.
We prefund some shares for users to acquire immediately. If you acquire prefunded shares, then your stake will be effective as of 0:00:00 (UTC midnight) following the actual date/time your staking transaction is completed successfully. For example, if you submit and we accept 1000 HNT from you at 2:00 PM US Eastern time for prefunded shares, those shares will be effective as of 7 PM US Eastern Time (0:00:00 UTC midnight) that night. Shares acquired in the middle of a payout cycle will earn a straight pro-rata percentage of earnings based on the number of days in the payout cycle that the shares are active, irrespective of the amount of HNT earned by the pool's validators after the share was actually purchased. This does not accept other user's pool earnings, but rather is deducted from earnings attributable to prefunded shares, which are owned by us.
Each pool may also include a share purchase/setup fee, as defined by that pool.
If you want to stake more shares than are presently available (i.e., you want to stake more HNT than is available in prefunded shares), you can still do so. However, those shares will not become active until the end of the current payout cycle, when we spin up/down validators as needed based on pool entry/exit queues.
When a participant indicates a desire to exit the pool, all exits, once accepted, shall be effective at UTC midnight at the end of the then current distribution cycle, and it is from that date/time from which we will begin best efforts to return your stake to the Helium wallet from which your first stake was originally received. If there are any discrepancies as to time zone, Helium Rising operates on Blockchain time, i.e., Universal Coordinated Time (UTC), which shall control all calculations.
All Helium Rising Participants shall get Patrium Premium credit equal to $10/1000 HNT staked/month, or the then monthly subscription fee for that user for Patrium based on the number of hotspots in the user's Patrium account, whichever is less. Any user with at least 10K HNT staked in the Pool will get free Patrium Premium Access, regardless of the number of hotspots in their Patrium Account.
Helium Rising offers self-staked VaaS services upon request. The fees for VaaS services are 3% of validator earnings, plus actual server costs. We use cloud service providers such as Amazon Web Services (AWS) to host validators. Uptime is guaranteed only to the extent provided by the relevant cloud service provider. There is a 100 HNT deposit required to start VaaS services., and the user is responsible for staking their own validator(s). Users are then billed monthly and, if invoices are not paid within 5 days, the user's validators will be shut down. By using our VaaS services, you release Helium Rising of any any liability for shutting validators down for nonpayment of fees.
Unless otherwise stated, Pixabits LLC and/or its licensors own the intellectual property rights for all material on Helium Rising. All intellectual property rights are reserved. You may access this from Helium Rising for your own personal use subjected to restrictions set in these terms and conditions.
You must not, without our explicit consent:
Republish material from Helium Rising
Sell, rent or sub-license material from Helium Rising
Reproduce, duplicate or copy material from Helium Rising
Redistribute content from Helium Rising
This Agreement shall begin when you create an account on Patrium/Helium Rising for the purpose of using Helium Rising.
Parts of this website may offer an opportunity for users to post and exchange opinions and information in certain areas of the website. Pixabits LLC does not filter, edit, publish or review Comments prior to their presence on the website. Comments do not reflect the views and opinions of Pixabits LLC, its agents and/or affiliates. Comments reflect the views and opinions of the person who post their views and opinions. To the extent permitted by applicable laws, Pixabits LLC shall not be liable for the Comments or for any liability, damages or expenses caused and/or suffered as a result of any use of and/or posting of and/or appearance of the Comments on this website.
Pixabits LLC reserves the right to monitor all Comments and to remove any Comments which can be considered inappropriate, offensive or causes breach of these Terms and Conditions.
You warrant and represent that:
You are entitled to post the Comments on our website and have all necessary licenses and consents to do so;
The Comments do not invade any intellectual property right, including without limitation copyright, patent or trademark of any third party;
The Comments do not contain any defamatory, libelous, offensive, indecent or otherwise unlawful material which is an invasion of privacy;
The Comments will not be used to solicit or promote business or custom or present commercial activities or unlawful activity.
You hereby grant Pixabits LLC a non-exclusive license to use, reproduce, edit and authorize others to use, reproduce and edit any of your Comments in any and all forms, formats or media.
Without prior approval and written permission, you may not create frames around our Webpages that alter in any way the visual presentation or appearance of our Website.
We collect personal identifying information (PII) for legal and tax compliance. We will not share or distribute your PII with any other party except to meet our legal obligations. We do not share or sell user data with anyone except when required by law. Identity verification media (e.g., photo/video used to confirm identity) is stored temporarily only by our third-party KYC provider Veriff.com, for approximately 3 months. We store your name, identity ID type, and identity ID country (but not the ID number itself) for legal compliance. In addition, we store in encrypted form the decision information provided to us from our KYC provider and we also store in encrypted form your tax ID as you provide it to us.
We may use your email address to send you important emails regarding Helium Rising offers and services. You may opt out of such mailings at any time using the links in the emails. We may also send you service alerts and other transactional emails regarding your requested use of our services. You cannot opt out of transactional emails, because they are a necessary part of our services.
To the maximum extent permitted by applicable law, we exclude all representations, warranties and conditions relating to our website and the use of this website.
Nothing in this disclaimer will:
limit or exclude our or your liability for fraud or fraudulent misrepresentation;
limit any of our or your liabilities in any way that is not permitted under applicable law; or
exclude any of our or your liabilities that may not be excluded under applicable law.
The limitations and prohibitions of liability set in this Section and elsewhere in this disclaimer: (a) are subject to the preceding paragraph; and (b) govern all liabilities arising under the disclaimer, including liabilities arising in contract, in tort and for breach of statutory duty.
Amendment of these Terms and Conditions
These Terms of Service may be amended from time to time. We will provide notice of any material revisions, and you consent to notice thereof by email to the email address through which you registered at our site.