The User should be aware and accepts that the risk of loss in trading.
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These Terms and Conditions govern in particular users' (miners') rights and obligations in relation to
the provision of computing power (mining) on the "KORIS" platform designated for joint cryptocurrency mining.
By the registration of a new user account as well as by any subsequent provision of computing power, the User agrees with these Terms and Conditions as well as with any subsequent terms and conditions to which these Terms and Conditions refer, and undertakes to adhere to all of these terms and conditions of use of the KORIS platform.
If the User does not agree with any of the terms and conditions above, they are not allowed to any use of the KORIS platform, which they acknowledge, and in such case, they undertake to delete their user account immediately and leave the KORIS website.
The User acknowledges that these Terms and Conditions and any subsequent terms and conditions issued by the operator of the KORIS platform may be unilaterally modified or amended by the operator at any time and that the operator shall always notify the User of such modification in advance.
- "KORIS Pool" or "Pool" stands for the cryptocurrencies mining platform called "KORIS Pool", in which the computing power of
individual miners is accumulated.
"User" or "Miner" stands for legal entities or individuals, who provide their computing power to the KORIS Pool platform.
"user account" stands for User's personal access to the KORIS Pool platform, where the User among other things lists his email address and address of his wallet to receive a remuneration pursuant to these Terms and Conditions.
"virtual currency" stands for an expression of value in digital form, which is not issued by the central bank and which may under certain circumstances be used as an alternative to money.
"cryptocurrency" stands for a typically decentralized virtual currency that uses cryptography to chain digital signatures of individual transactions; an example is Bitcoin cryptocurrency.
"mining" stands for a process, in which miners perform mathematical operations to verify and add the transactions in a form of so called blocks to the public ledger (blockchain) of the cryptocurrency, for which they are rewarded with a certain amount of prospective cryptocurrency and certain amount of transaction fees.
"transaction fees" stands for fees for verification and addition of transactions to the cryptocurrency blockchain, and therefore it can be in every single verified transaction perceived as a difference between the amount of cryptocurrency sent by the sender and the cryptocurrency received by the recipient.
"wallet" stands for an external virtual wallet, in which any individual user can manage their bought or otherwise obtained virtual cryptocurrencies and secure them against the access of third parties. "hashrate" stands for a unit of computing power of the mining hardware.
"Contract" stands for the contract on provision of the computing power (that is performing of the computing operations), concluded between the Operator and the User at the moment of setting up the user account for the duration of the user account, under which the User undertakes to provide the computing power for the cryptocurrencies mining and which is governed by these Terms and Conditions, unless otherwise agreed between the User and the Operator
- The Operator declares that it provides the operation of the Pool and is therefore the User´s partner in solving all issues, legal and factual, which may occur during the operation of the Pool, and the User acknowledges it.
During the existence of their user account the User is entitled to provide computing power to the Pool, that is to the Operator, by using their hardware to perform processing operations sent to them by the Operator for the purpose of cryptocurrency mining.
The Operator undertakes to exploit the provided and received computing power, that is a service provided by the User, for the cryptocurrencies mining. The User acknowledges that the mining itself may not be always performed by the Operator in its own name and on his own account and agrees that it may be performed by third parties different from the Operator, possibly on their own account pursuant to the terms and conditions agreed between the Operator and this third parties.
The Operator is entitled not to accept the computing power offered by the User (that is to refuse it) without having to give a reason, either temporarily in regard to all Users (for example due to technical problems of the Pool) or merely from certain Users (for example due to the user account suspension etc.)
- The Operator endeavors to provide continuous uninterrupted Pool operation, so the User can provide the
computing power (mine) any time. However, the User acknowledges that due to the maintenance, repairs or
exceptional outages the Operator does not guarantee absolutely uninterrupted (100 %) availability of the Pool.
If the Pool is unavailable due to a planned temporary maintenance shutdown, the Operator shall inform the User thereof via website or in any other suitable way, if possible.
Neither the Operator nor any other person providing the operation of the Pool are liable for any damage incurred by the User as a consequence of planned or unplanned shutdown or outage of the Pool.
The User is solely responsible for setting up its hardware in a way that allows the hardware to reconnect to the Pool automatically when the Pool becomes available after the shutdown or outage.
- In mining, computing power is the computing power of the computer in the virtual web site. We're not actually
mining Bitcoin or ethereum.
KORIS does not waste energy because it is not mining with real computers.
- The difficulty level fluctuates more than once a week, depending on market price, team and community opinion.
- You accept responsibility for the confidentiality and use of any user name and email address that you
may register for your access to and use of the Services.
You are responsible for maintaining the confidentiality of the password and account and are fully responsible for all activities that occur under your password or account.
You agree to
(a) immediately notify KORIS of any unauthorized use of your password or account or any other breach of security, and
(b) ensure that you exit from your account at the end of each session. KORIS cannot and will not be liable for any loss or damage arising from your failure to comply.
By creating an account with KORIS, you agree that KORIS can use your e-mail address to send you marketing materials, service-related notices, important information messages, special offers, etc. You can unsubscribe from this by clicking on the link provided in the emails.
- KORIS may place information concerning user on a database of internal use only. KORIS will not disclose users details to any third party unless required by law, unless specifically instructed to the contrary by user.
- User is authorised to access and use the Website; In particular, the jurisdiction where user reside,
hold citizenship, or conduct business allows user to utilize KORIS’s services;
If user is using the Website on behalf of or for the benefit of any organisation then it is assumed that user have the right to do so. The organisation will be liable for users actions including any breach of these Terms;
Users use of the Website and the Service is at users own risk. User agree that KORIS is not liable for any damage or harm arising out of users use of the Website and Service;
The information provided on the Website is for general information purposes only and is given in good faith. However, the information is selective and KORIS may not verify all information, which may not be complete or accurate for users purposes and should not be relied upon without further enquiry. The information should not be construed as a recommendation to trade or engage the Service provided by KORIS in a particular manner; and
KORIS does not warrant that the use of the Website will be uninterrupted or error free. Among other things, the operation and availability of the systems used for accessing the Website, including public telephone services, computer networks and the Internet, can be unpredictable and may from time to time interfere with or prevent access to the Website. KORIS is not in any way responsible for any such interference that prevents users access or use of the Website and the Service.
KORIS gives no warranty about the Website. Without limiting the foregoing, KORIS does not warrant that the Website will meet users requirements or that it will be suitable for users purposes. To avoid doubt, all implied conditions or warranties are excluded insofar as is permitted by law including, without limitation, warranties of merchantability, fitness for purpose, title and non-infringement.
User warrant and represent that user are acquiring the right to access and use the Website and agreeing to these Terms for the purposes of a business and that, to the maximum extent permitted by law, any statutory consumer guarantees or legislation intended to protect non-business consumers in any jurisdiction does not apply to the supply of the Website or these Terms.
- The price of the paid contents are based on the price shown in the store etc. In addition, the member shall pay the
payment in accordance with the policies, methods, etc. provided by the KORIS.
KORIS-mining cannot and does not represent or guarantee that any of the information available through the Services or on KORIS-mining is accurate, reliable, current, complete or appropriate for your needs.
The paid contents purchased by the member are divided into contents that can be withdrawn and contents that cannot be withdrawn. The contract contents may be withdrawn within seven days of purchase, and the contents may be limited to the reason for the withdrawal of the subscription, such as the content that has expired or the Act on Protection of Consumers in Electronic Commerce, etc. Content that is restricted from cancellation is either limited or free for trial use.
Paid contents that can be withdrawn may also be restricted if they have been used 7 days after purchase, or if the value of the goods has significantly decreased, or if other members' reasons for the cancellation may be limited.
Content not purchased directly by the member such as free content (including free content) provided by the KORIS and paid contents received by the member are excluded from the subscription list.
If you are not satisfied with our products, you will be able to make your own refund within seven days.
a) The refund is immediate and 90% of the payment amount is returned except the network fee.
b) Refund is not possible after 7 days.
- KORIS may restrict Users from logging on or access to the User's Account if it deems appropriate,
including without limitation under any of the following circumstances:
If the User enters wrong passwords successively;
If a User's Account has been hacked, stolen, disclosed to or used by a third party or compromised in any other way or the KORIS has a suspicion that such an event has occurred;
If a User's Account is used for fraudulent or illegal activities of the KORIS has a suspicion that such an event has occurred; or
any other reasons as set out in the KORIS's policy and process.
The KORIS may limit the Users' deposit and withdrawal of Fiat Currency or Crypto Assets if it deems appropriate, including without limitation under any of the following circumstances:
if a User's name is different from the name of the depositor;
if the first withdrawal amount after acquiring membership or User account status is excessively high;
if the KORIS has to limit or delay deposits and withdrawals following its policies and processes;
if required by Applicable Law or the KORIS's policy and process;
if there is suspicion of any fraud, money laundering or terrorist financing;
The KORIS may stipulate any other terms and details of limitation on the use of the Services under this Article in the User Guide.
Users may object to the limitation on the use of the Services under this Article in the procedure prescribed by the KORIS. If the KORIS considers, in its sole and absolute discretion, such an objection to be justifiable and that there is no longer any concern resulting in the limitation or suspension in the first place, the KORIS may resume the use of the Services.
- This Terms and Conditions shall be governed and interpreted by the Laws of the RoK. Any lawsuit arising from disputes between the KORIS and members concerning the use of the Service shall be governed by the Laws of the RoK.
All disputes and lawsuit between the KORIS and members concerning the use of the Service shall be subject to the jurisdiction and venue of the courts in accordance with the procedures as prescribed by applicable laws and regulations.
- This Terms and Conditions shall enter into force on January 8, 2019.