Version 2025-1

This User Service Agreement for Crypto Loans (“this Agreement”) is an agreement between the platform (“the Platform”) and the User (“you”) regarding your use of the Crypto Loans service (“the Service”) provided by the Platform. By visiting and logging in the Platform (including the API, mobile applications and other client applications of the Platform), using any service provided by the Platform (including the mobile applications of the Platform) or clicking “Read and Agree”, you acknowledge that you have read, understood and accepted all the terms and conditions set forth in this Agreement and all the terms and conditions set forth in the User Agreement. If you don’t agree to any of the terms or conditions of this Agreement or the User Agreement, please stop visiting the Platform and using the Service. By continuing to visit the Platform or use the Service, you unconditionally agree to the entire content of this Agreement and the User Agreement.

1. Scope and Application of the Agreement. This Agreement applies to your use of the Platform for Crypto Loans. This Agreement is a supplementary agreement to the User Agreement. In case of any inconsistency between this Agreement and the User Agreement, this Agreement shall prevail. Matters not expressly provided herein shall be governed by the User Agreement.

2. Modification to the Agreement. The Platform reserves the right to amend, modify or alter this Agreement at its sole discretion. Any such modifications to this Agreement shall become effective immediately after they are published on the Platform or sent to the User. It is your responsibility to review this Agreement periodically to stay informed of any changes. Continued use of the Service after any changes constitutes your acceptance of the revised Agreement.

3. Voluntary Act. Your use of Crypto Loans on the Platform is your voluntary act conducted in accordance with your own financial situation. You acknowledge the inherent risks and make your decisions independently of the Platform and any third parties.

4. Risk Disclosure. Engaging in Crypto Loans transactions on the Platform may result in high investment returns, but it also involves significant risks, including the potential for loss of your entire investment. To help you better understand the risks involved, and in compliance with applicable laws, regulations, administrative rules, and relevant national policies, we are providing this risk disclosure. The risks associated with engaging in Crypto Loans on the Platform include, but are not limited to, the following:

1. Risks Inherent to Digital Assets: The digital asset market is relatively new, unrecognized in many regions, and may not achieve widespread adoption. Digital assets are primarily used by speculators and are rarely utilized in retail or commercial markets, leading to extreme price volatility. Unlike the stock market, the digital asset market lacks price limit mechanisms and operates 24 hours a day. Due to limited liquidity, prices can fluctuate sharply within a single day, influenced by market makers or regulatory policies in various countries. You acknowledge and agree to bear all economic losses resulting from such price fluctuations.
2. Policy Risks: The formulation or revision of laws, regulations, and policies related to digital assets in various jurisdictions may result in the suspension or prohibition of digital asset trading at any time. You acknowledge and agree to bear all economic losses caused by such legal or regulatory changes.
3. Internet and Technical Risks: The Platform does not guarantee that its content, including information, programs, and text, is free from malicious interference, such as viruses or Trojans. Your decision to use the Platform’s services or download its content is entirely at your own risk. Additionally, using online trading systems involves risks such as software or hardware failure and Internet connectivity issues. As the Platform cannot control Internet reliability, it will not be held responsible for distortions, delays, or link failures. You are solely responsible for losses caused by factors such as server bottlenecks or unstable website access.
4. Force Majeure Risks: The Platform shall not be liable for service failures, delays, or losses caused by events beyond its control, including but not limited to: (a) maintenance of information network equipment (b) network connection failures (c) computer, communication, or system failures (d) power outages (e) hacker attacks (f) natural disasters such as weather events, floods, or storms (g) strikes, riots, labor disputes, or insurrections (h) insufficient production resources or supply chain disruptions (i) accidents, explosions, or wars (j) actions by governments or judicial authorities (k) digital asset market collapses (l) other third-party actions or circumstances beyond the platform’s control.
5. Market Condition Risks: The Platform does not guarantee the accuracy or applicability of market analyses, evaluations, or forecasts. Information or recommendations you obtain from third parties, including introducers or Platform employees, may be inaccurate or incomplete. You assume all risks and consequences arising from such information, and the Platform bears no responsibility for any resulting losses.
6. Risk of Account Freezing or Seizure: If a competent authority presents valid documentation and requests the Platform’s cooperation in investigating your account, assets, or trading data, the Platform will assist by providing the required information or implementing the authority’s instructions (e.g., freezing, seizing, or transferring your account). You will be solely responsible for any privacy breaches, account inaccessibility, or losses arising from such actions.
7. Other Risks: You are solely responsible for any losses incurred under the following circumstances: a. losses due to account mismanagement, such as forgetting your password, improper operation, or poor investment decisions. b. losses caused by unauthorized third-party actions, including malicious operations or failure to log out after using hotkeys. c. losses resulting from others conducting crypto loans transactions on your behalf on the platform. d. losses caused by unforeseen accidents or other reasons not attributable to the platform

Note: If you participate in Crypto Loans on the Platform, you shall control risks by yourself, evaluate the value and risks of digital assets investment and bear the economic risk of losing all your investments. You shall trade according to your financial conditions and risk tolerance and be aware of the risks of investing in digital assets. You may make a profit as well as face the risk of losing money when you invest in digital assets. The risk disclosure herein does not reveal all the risks of Crypto Loans. Please be sure to have a clear understanding of the foregoing. There are risks in the market; be cautious in investment.

5. Definitions. For the purpose of this Agreement, the following terms shall have the following meanings:

1. “Crypto Loans” refers to a business where you pledge of a certain amount of digital assets on the Platform and borrow a certain amount of digital assets from the Platform.
2. "Pledged Digital Assets Loan Account" refers to a virtual sub-account linked to your existing UID account, designated to hold the pledged digital assets. Each digital asset loan will have a separate sub-account for managing the pledged collateral.
3. “Pledge Payment” refers to the digital assets that you legally own and voluntarily pledge to the Platform as collateral to apply for a digital asset loan. The pledged payment is deposited into the User's Crypto Loans account. The Platform may impose restrictions on transactions, transfers, withdrawals, and other operations involving these pledged assets.
4. “Estimated LTV” refers to the ratio of the value of assets you borrow to the value of your currently pledged assets, expressed in USDT.
5. “Current LTV” refers to [(digital assets loan+ unpaid digital assets loan interest incurred) ÷ pledge payment] × 100% (denominated in USDT).

6. Qualification. To use the Service, you must complete account registration and authentication in accordance with the User Agreement. Additionally, you must legally possess a valid UID account and login credentials.

7. Application for a Digital Assets Loan: After logging into your account, navigate to the Crypto Loans page to select the type and amount of tokens you wish to borrow. Confirm the type of tokens you are willing to pledge, and the system will automatically calculate the required amount of digital assets to pledge. Please ensure that your exchange account has sufficient assets for the pledge. Before clicking “Borrow Now,” choose the loan duration (the pledge duration corresponds to the loan term). For example, if you select a 30-day loan that allows early repayment, you can repay the loan at any time within the 30-day period. Once you click “Borrow Now,” the system will automatically transfer the corresponding pledged amount of digital assets in the selected token type from your exchange account to your pledged digital asset loan account.

8. Interest refers to the fees charged by the Platform for using its pledged digital asset loan service. These fees are calculated on an hourly basis. However, the front-end product page displays the fees as both a daily rate (daily fee rate) and an annual rate (annual fee rate) for your convenience. Interest is calculated based on the loan fee rate and loan term displayed on the digital asset loan page, with the daily fee rate reflecting a 24-hour period. The loan term begins as soon as the digital asset loan is credited to your exchange account. Interest accrues hourly, with any period less than one hour rounded up to a full hour. For loans without a fixed term, you may repay at any time, and the interest will be calculated based on the actual loan term.

9. Pledge Payment Adjustment. When the Loan-to-Value (LTV) ratio of a single order reaches the margin call threshold, the system will send an additional pledge payment request to the User's registered contact information, prompting the User to increase the pledge payment and mitigate the risk of forced liquidation. Upon receiving the notification, the User can increase the pledge payment by selecting "Adjust Pledge Payment" on the product page. Conversely, if the LTV of a single order falls below the margin call threshold, the User may opt to reduce the pledge payment using the same "Adjust Pledge Payment" option on the product page.

10. Use of Digital Assets Loan. The digital asset loan has been credited to your exchange account by the Platform. You may use it at your discretion, including spot trading, leverage trading, contract transactions, or withdrawing it from the Platform.

11. Repayment. You can click “Repay” to pay off a loan order and its interest according to the instructions on the front page of the product. Upon repayment, any interest due will be settled first. If there is a surplus, the principal loan amount will be repaid. If the principal is not fully repaid, the remaining balance will continue to accrue interest and remain due under the original terms until fully paid.

12. Overdue Loan. If the principal of a pledged loan order is not repaid on time, the Platform will provide a 7-day grace period (7 days, 24 hours per day) starting from the expiration of the loan term. During the grace period, a fee rate three times higher than the standard rate will be applied based on the actual overdue period. If repayment is not made within the grace period, the Platform reserves the right to liquidate the pledged assets to settle the loan principal and accrued interest. Additionally, during the grace period, you bear the risk of forced liquidation of your pledged assets if the conditions for forced liquidation are triggered.

13. No Right to Airdrop Rewards. If you have borrowed digital assets that are eligible for an airdrop reward (a "Borrowed Airdrop Reward"), you acknowledge and agree that you have no legal or equitable rights to such a reward.

14. Repayment of Crypto Loan due to Borrowed Airdrop Reward. From time to time, the Platform may publish notices regarding airdrop rewards. These rewards are distributed to holders of a specified digital asset based on a snapshot taken at a specific time (the “Snapshot”). If a User has borrowed the relevant digital asset, the Platform will notify the User—via email, SMS, or other communication channels—to return the borrowed digital assets before the Snapshot.

15. Platform Rights. If you fail to return the borrowed digital assets before the Snapshot, you agree that you will be liable to the Platform for the Borrowed Airdrop Reward, whether or not you have received the reward. The Platform reserves the right to transfer the Borrowed Airdrop Reward from your account to the Platform's proprietary wallet to satisfy this liability. Until the Platform has carried out such transfer, it may, at its sole discretion, restrict the User from withdrawing his/her digital assets from the Platform.

16. Forced Liquidation. When the Loan-to-Value (LTV) ratio of a digital asset loan order reaches the liquidation threshold, the Platform reserves the right to liquidate the pledged collateral to cover the loan principal and any accrued interest. However, the Platform does not guarantee that the disposal price will be optimal, and you agree to unconditionally accept the final results of the liquidation. In cases where forced liquidation cannot be performed due to significant price fluctuations, or if the proceeds from liquidation are insufficient to fully settle the loan principal, accrued interest, or other associated fees, the Platform reserves the right to pursue further compensation from you. This includes transferring assets from your exchange account to settle any outstanding obligations or to cover other losses incurred by the Platform.

17. The Platform will monitor and manage the total market value of pledged digital asset loans, as well as the market value of individual token types. When the cumulative value of pledged digital asset loans for a specific token type or across all token types reaches the maximum limit set by the Platform, the system will automatically suspend the issuance of new loans for that token type or for all pledged digital assets. Loan services will resume only when the market value of pledged loans for the specific token type, or the total market value across all token types, falls below the respective maximum limits established by the Platform.

18. Right of Set-off. The Platform reserves the right to set off any amounts owed by the User to the Platform, including but not limited to those outlined in paragraph 15 (Platform Rights), against the balances in the User’s exchange account and sub-accounts. If the User owes the Platform a specific digital token that is not available in their exchange account or sub-accounts, the Platform may set off an equivalent value in a different digital token. The equivalent value will be determined based on the exchange rates published on https://coinmarketcap.com/ at the time of the set-off.

19. When using the Service, the User must comply with all applicable laws and regulations, as well as the terms of this Agreement and the User Agreement, including any updates or revisions made by the Platform from time to time.

20. For risk control purposes, the Platform reserves the right to unilaterally suspend or terminate the Crypto Loans and related services at any time, as deemed necessary.

21. In the event of any conflict between the terms of this Agreement and any other agreements or terms and conditions entered into by the User in connection with the use of the Platform and its services, the resolution shall be determined at the sole discretion of the Platform.

22. The annex to this Agreement forms an integral part of it and shall carry the same legal effect as the main body of this Agreement.