Effective date: May 31, 2021
TERMS OF OPERATION
1. GENERAL PRINCIPLES
1.1. Terms of Operation (“TO”) apply to the Xchpool.cloud. Xchpool.cloud is referenced as “We”, “Pool”, “Our Pool”, “Xchpool.cloud”, “Us”. The user of Xchpool.cloud is referenced as “Miner”, “Participant”, “User”, “You”.
1.2. By accessing Our services, you confirm that you agree with TO. Otherwise, any interaction with Our Pool is strictly prohibited.
1.3. By accessing Our Pool, as a User, you must be at least eighteen (18) years old. By using Our Pool, you confirm that you have reached the minimum age of eighteen (18) years old.
1.4. TO may change in the future. By continuing the usage of Our services, you confirm that you agree with any further TO changes.
2.1. Payment round. Funds are stored on Pool’s wallet until the minimum payout threshold is reached. After that, the pool sends funds to the user’s wallet. To properly manage funds, all transactions are being processed in payment rounds that occur once per day. Minimum payout threshold is 0.005 XCH.
2.2. (Cryptocurrency) Transaction. All cryptocurrency transfers are recorded on Blockchain and are called a Transaction. Transactions are irreversible, and Pool cannot recover the funds sent to an invalid address.
2.3. Wallet (Address). All users’ funds are stored on their wallets. We don’t have any access to them.
2.4. Chia Network is an open-source project, decentralized platform, where anyone can create decentralized applications and exchange XCH, the native currency of Chia Network.
3. TERMS OF PROCESSING PAYMENTS
3.1. Xchpool.cloud is responsible for distributing funds earned during the mining process. By participating in the mining process, mining equipment («GPU», «CPU», «ASIC», «HDD», «SSD») consumes the electricity, and Xchpool.cloud is not responsible for any of these costs.
3.2. We pay earnings gathered during the mining process. All of them are being distributed proportionally according to participants' contribution shares using the PPLNS (Pay-per-last-N-shares) reward scheme. Xchpool.cloud does not issue any rewards and acts as an intermediary between Miners and Chia network. Standard pool fee is 1%.
4.1. Xchpool.cloud is not liable for any losses that may occur during the usage of Our services. Although we do everything possible to protect Our servers from hacker attacks, we cannot guarantee that Our Services won’t get attacked.
4.2. As mining requires an intense load of mining equipment. Xchpool.cloud is not responsible for any damages to your mining equipment that may occur during the mining process.
4.3. Xchpool.cloud does not have any influence on the Chia cryptocurrency and mining process at all. Xchpool.cloud only provides an interface to the Chia network. Any questions about the Chia cryptocurrency must be delegated to the Chia Network maintainers.
5. FURTHER TERMS
5.1. Although we have backup servers, the Pool’s 100% uptime is not guaranteed. We do not pay any compensation for downtime.
6. CONTACT DETAILS
If you have any questions about TO, you can contact us by email or via contact form: