Terms of service

Thank you for visiting Vrün, a digital platform operated by and proprietary to Vrün Ltd (UK company number 15788936).

By engaging Vrün (including by sending signed instructions), you agree to be legally bound by these terms of service as a "client".

1. Legally binding and compliant

  1. You represent and affirm that you have the legal capacity to enter into and be bound by these terms of service in their entirety.
  2. Your conduct is subject to the laws, regulations and rules of any applicable governmental or regulatory authority (the "Applicable Laws and Regulations") and you agree and acknowledge to act in compliance with the Applicable Laws and Regulations.
  3. You acknowledge and agree that these terms of service may change from time to time, and that by continuing to engage Vrün (including by sending signed instructions), you agree to be legally bound by the latest version (at time of writing: 20241008) of these terms of service as available at https://vrün.com/terms.

2. Who is a client?

A client is:

  1. an Ethereum address
  2. that has sent one or more signed instructions to Vrün.

3. What Vrün does and does not do

  1. Vrün will use commercially reasonable endeavours to run Ethereum validators on behalf of its clients.
  2. You may request Vrün to perform actions relating to the Ethereum validators Vrün is running on your behalf by sending Vrün signed instructions via the website https://vrün.com (the "Vrün website") or the underlying application programming interface (the "Vrün API"). For example, these instructions may include:
    1. to create a new validator key that can be deposited on the Ethereum network
    2. to set the "graffiti" to include with Ethereum blocks proposed by a validator
    3. to retrieve the cryptographic data required to exit a validator from the Ethereum network
    4. anything else reasonably requested, provided that the instruction does not conflict with the Applicable Laws and Regulations or the Ethereum blockchain's consensus mechanism.
  3. Vrün will only perform its duties to the extent it has been paid Service Fees (see clause 4). You acknowledge and agree that Vrün may fail to follow your instructions and/or perform duties for your validators if you have not prepaid Vrün's Service Fees, including cases where paid fees have been accounted towards legal costs as described in clause 8.
  4. Vrün will use commercially reasonable efforts to comply with all signed instructions provided by clients. However, running validators carries potential risks. Importantly,
    1. Vrün will not be responsible to you for downtime or inactivity, and you agree and acknowledge that this may result in missed rewards and inactivity penalties
    2. While Vrün will use commercially reasonable efforts to prevent any staked assets from "slashing" (penalties imposed by the Ethereum network if validator performs its duties incorrectly), Vrün will not be responsible for or liable to you for any slashing penalty
    3. While Vrün will use commercially reasonable efforts to ensure that transactions and other interactions with the Ethereum network (including validator deposits) submitted via the Vrün website are correctly constructed and broadcast, Vrün will not be responsible, or liable to you, for any loss of funds or other damages resulting from an incorrect, unintended, or front-run transaction.

4. Service Fees

  1. To use Vrün's services, you must prepay the applicable Service Fees, as set out on https://vrün.com/pricing.
  2. Service Fees will be charged for each day that Vrün runs a validator for you.
  3. Vrün will maintain an account for each client (the client's "fee account") tracking prepaid Service Fees and charges accrued, which will be viewable via the Vrün website.
  4. Vrün may change the Service Fees without notice at any time. Vrün will use commercially reasonable efforts to communicate such changes, such as via its public Discord.

5. Disputes

  1. In the event of any dispute or problem arising out of, or in connection with, the use of Vrün's services, please contact Vrün via email or via its public Discord. You should clearly indicate that you are raising a complaint (rather than a query).
  2. Any dispute arising out of or in connection with these terms of service, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the London Court of International Arbitration Rules, which rules are deemed to be incorporated by reference into this clause. In addition:
    1. The number of arbitrators shall be determined by agreement, or failing that, three.
    2. The seat, or legal place, of arbitration shall be London, UK.
    3. The language to be used in the arbitral proceedings shall be English.
    4. The governing law of the contract shall be the substantive law of England and Wales.

6. Disclaimer of liability

  1. You agree and acknowledge that Vrün is not responsible for any funds you provide to or through Vrün. Vrün does not intend to hold client funds at any time. Clients will deposit their "stake" directly to Ethereum (or via a third-party Ethereum application such as Rocket Pool). Client's "stakes" will be returned directly to the withdrawal address specified by the client via signed instructions.
  2. You agree and understand that you will not make Vrün a party to any dispute involving a third party. You further agree and understand that Vrün is not responsible for your use (or misuse) of any validator and that you will not make Vrün a party to any dispute involving your use (or misuse) of any validator. In any event, you hereby agree to indemnify Vrün for any and all costs, including legal costs, which are reasonably incurred by Vrün and related to any such disputes.
  3. You agree and understand that Vrün is providing its services on a best efforts basis, subject to these terms of service, and will not be responsible to you for any loss or damages suffered as a result any errors or bugs that may exist in our interfaces (including the Vrün website and API).

7. Indemnity

In no event shall Vrün be liable for any act, omission, error of judgment, or loss suffered by you in connection with these terms of service or your use or attempted use of Vrün or Vrün's running of validators. You agree to indemnify and hold Vrün harmless from or against any or all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable attorneys fees), claims, disbursements or actions of any kind and injury (including death) arising out of or relating to your use of Vrün, any validator run by Vrün, or Vrün's performance, nonperformance or negligence in performance of its duties to you.

8. Legal costs

You agree to indemnify Vrün for actual, reasonable legal costs and expenses directly related to your account or any related account that are a result of any regulatory inquiry, legal action, litigation, dispute, or investigation whether such situations occur or are anticipated, that arise or relate to you or your use of Vrün. As a result, without limitation, Vrün will be entitled to charge your fee account for such costs without notice, including legal and enforcement related costs incurred by Vrün. Any withholding will last for a period of time that is reasonably necessary to resolve any regulatory or legal issue at hand, and Vrün may place any amounts garnered from you in a separate account, and will pay you the remaining balance after any noted issue has been resolved. Furthermore, you agree that where such anticipated or actual actions relate to a specific asset in your account, that asset may not be transferred out of said account until the matter is resolved. Vrün will provide copies of all invoices on request.

9. Governing law

These terms of service are governed by the laws of England and Wales and subject to the non-exclusive jurisdiction of the English courts.