Bitbase On-chain Earn Agreement

You must carefully review the terms of the On-chain Earn Agreement (“Terms”) and seek independent professional advice to determine whether this product is suitable for you, taking into account your personal circumstances, financial position, investment objectives, and risk tolerance. These Terms govern your access to and use of the On-chain Earn Service provided by Bitbase from time to time (“On-chain Earn Service”).

 

By subscribing to the On-chain Earn Service , you acknowledge and agree that you will be bound by these Terms and will comply with them, as they may be updated or amended from time to time. By accessing and/or using the On-chain Earn Service, you confirm that you have read, understood and accepted these Terms. If you do not understand and accept these Terms in their entirety, you should not use the On-chain Earn Service.

These Terms 

supplement and should be read together with the Bitbase Terms of Use (“Terms of Use”) and the Risk Disclosure. All provisions contained in the Terms of Use (except to the extent expressly modified herein) are incorporated by reference and have the same force and effect as if set out in their entirety in these Terms. These Terms constitute Product Terms. References in the Terms of Use to the “Services” shall include the services described in these Terms.

In the event of any conflict or inconsistency between these Terms, the Terms of Use and the Risk Disclosure, these Terms shall prevail with respect to the On-chain Earn Service, unless expressly stated otherwise. Bitbase reserves the right to amend or update these Terms (or any terms incorporated by reference) at any time in accordance with the Terms of Use.

 

RISK WARNING

The regulatory environment surrounding Digital Assets is subject to change. The On-chain Earn Service is not a product registered with any government or regulatory authority. Bitbase acts solely as a platform provider in connection with the On-chain Earn Service and does not exercise any discretionary authority or management over the underlying assets within the On-chain Earn Service. Your Digital Assets will be managed by third parties, which may or may not hold the applicable licenses in your jurisdiction. Bitbase does not act as a fund manager, fiduciary, advisor, 

or trustee in relation to the On-chain Earn Service, and no fund interest, trust relationship, or pooled investment arrangement is created by subscribing to the On-chain Earn Service. 

Your Digital Assets, as well as the associated third-party blockchain networks to which they may be staked, may be subject to delisting or other applicable restrictions. The regulatory environment surrounding Digital Assets is subject to change, and any adverse regulatory actions or new laws may impact the operation, performance or availability of the On-chain Earn Service.

 Digital Asset prices are highly volatile and may fluctuate significantly. Investors are advised to invest only funds they can afford to lose. The value of any investment may fluctuate, and there is a possibility that financial objectives may not be achieved and that the principal may not be recovered. Independent financial advice should be sought, and your personal financial situation and experience should be carefully considered. Past performance is not indicative of future results. Bitbase accepts no liability for any losses incurred. Nothing contained herein constitutes financial advice.

NEITHER Bitbase NOR ANY OF ITS AFFILIATES (A) MAKES ANY REPRESENTATION OR WARRANTY THAT THE ON-CHAIN EARN SERVICE IS SUITABLE FOR ANY USER OR AVAILABLE IN ANY PARTICULAR LOCATION, AND (B) GUARANTEES THE RETURN OF ANY SUBSCRIBED DIGITAL ASSETS.

The subscription to the ON-CHAIN EARN SERVICE may be subject to various risks, including protocol-level risks. Bitbase DOES NOT PROVIDE ANY DUE DILIGENCE OR ASSURANCES REGARDING SUCH PROTOCOLS.

Events such as hacks, exploits, or flaws in economic models at the protocol level are outside of Bitbase’s control. These risks may negatively impact our ability to return your subscribed Digital Assets, in whole or at all.

You may lose the Digital Assets you have subscribed, as they may be deployed into smart contracts operated by third-party networks not controlled by Bitbase.

Bitbase ALSO DOES NOT GUARANTEE THAT YOU WILL RECEIVE REWARDS AT THE APR INDICATED AT THE TIME OF SUBSCRIPTION.

ANY INDICATION OF POTENTIAL RETURNS AT THE TIME OF SUBSCRIPTION:

(I) IS NOT GUARANTEED AND IS FOR REFERENCE ONLY;

(II) IS BASED ON ESTIMATED REWARD RATES; AND

(III) MAY BE HIGHER OR LOWER THAN THE ACTUAL REWARDS RECEIVED.

 

1. Eligibility

1.1 The On-chain Earn Service is only available to certain users in certain countries. Such service is not intended for users in jurisdictions where restrictions or prohibitions apply.

1.2 Bitbase reserves the right to adjust the eligibility requirements of the On-chain Earn Service from time to time. Without prejudice to our rights under these Terms and the Terms of Use, if you cease to be eligible, we may exercise our right to suspend and/or terminate your subscription.

 

2. Definitions

DeFi Protocol: a third-party protocol based on one or more decentralized financial applications.

Estimated Rewards: a currently estimated rate or amount of Rewards. Actual Rewards may be higher, lower or the same as Estimated Rewards.

Express Redemption: an ability to Redeem Digital Assets without waiting for the period of time after which they can be released from a Staking Protocol. Express Redemption may not be available, depending on the on-chain nodes or Staking Protocol chosen and market conditions.

Order Quantity: the amount of Digital Assets which are subject to a single Staking order.

Redeem/Redemption: the closing of a position in the Service and subsequent return of Staked Digital Assets into a User's account;

Rewards: rewards or benefits that users may receive by Staking and Redeeming Digital Assets in the On-chain Earn Service.

Stake/Staking: an opening of a position through the On-chain Earn Service, which results in Digital Assets being locked in a Staking Protocol. Such opening can be carried out by the user manually opening a position on the On-chain Earn product page on the Platform.

Staking Protocol: third-party blockchain network(s) to which Digital Assets may be staked, including native staking protocol(s) and DeFi Protocol(s).

 

3. On-chain Earn Service

3.1 The On-chain Earn Service as provided by Bitbase allows you to Stake Digital Assets on Staking Protocol(s) where you may earn  Rewards on the Platform. Subject to these Terms and the Terms of Use, such Rewards from the Staked Digital Assets may be Redeemed with any Redemption method you choose. You may subscribe to the On-chain Earn Service on the Platform as otherwise made available to you by us from time to time.For more information, you may refer to the descriptions provided on the Platform.

3.2 You may subscribe to the On-chain Earn Service by logging into your Account on the Platform. You acknowledge and agree that you may manually place an order by selecting a Staking Protocol and specifying

the amount of Digital Assets you wish to Stake with Bitbase.

3.3 By proceeding, you acknowledge that you have carefully reviewed all relevant details, including the Annual Percentage Rate (APR), interest distribution schedule, estimated daily profits, and the unlock time. 

Once your order has been placed, Bitbase shall attempt to Stake your Digital Assets or otherwise allocate them to the selected Staking Protocol, in an amount equivalent to a whole or a part of your Order Quantity.

 Depending on the Staking Protocol chosen and market conditions, your order may not be successfully placed and you will not earn any Rewards. Upon commencement of Staking, Rewards will be automatically distributed to your spot account in accordance with the stated terms on the Platform and of the Staking Protocols. Once the order has been placed, you may not be able to cancel, revoke or edit the order.

3.4 You agree that Rewards will accrue at a rate to be determined by the Staking Protocol chosen. Such rate can vary frequently. It can also vary based on the mechanics of the Staking Protocol, market conditions, and other factors depending on the Staking Protocol chosen. The frequency at which Rewards will be distributed to your Spot Account will depend on the Staking Protocol chosen and market conditions. Rewards will not accrue if your order is not successful.

3.5 You may Redeem your Staked Digital Assets anytime by placing a Redemption request on the Platform but Redemption processing times or rules for different protocols may vary. Once you have placed a Redemption request, you will no longer earn any Rewards in relation to the Digital Assets which are the subject of your Redemption request. Once a Redemption request has been placed, you may not be able to cancel, revoke or edit the request. The speed at which any Redemption request may be satisfied will vary and depend on market conditions. You agree and accept that when you Redeem your Digital Assets, the time it takes for the Digital Assets to arrive at your Spot Account may vary (e.g., by days or weeks). Bitbase shall not be liable for any losses caused by the difference between estimated and actual Digital Asset arrival time.

3.6 Bitbase may provide you with an “Express Redemption” feature in the On-chain Earn Service. Such feature is selected manually by you but is available only if there is sufficient liquidity in the Service to 

provide it to users. Express Redemption is not guaranteed, it may not be available (with or without notice) to you. Liquidity to provide Express Redemption is sourced from users' Order Quantity. You agree that a portion of your Order Quantity may be used for such liquidity. You also agree that the Rewards from such Redemption are subject to a daily limit, and the portion that exceeds the limit can only be Redeemed 

on the following day. Bitbase may suspend Express Redemption without notice at any time at its sole discretion.

3.7 (Applicable to On-chain Earn 2.0 DeFi Protocol only) You acknowledge and agree that Bitbase may, at its sole discretion, automatically Redeem your Staked Digital Assets in the event of any market or protocol-related risks that may affect your participation in the Staking Protocol (for example, Phase 1 of Morpho), including but not limited to a malicious attack, security breach, or theft (“Emergency Redemption”). We do not guarantee the successful execution of any “Emergency Redemption” or the allocation of any Rewards to your Spot Account. In certain circumstances, an “Emergency Redemption” may result in partial or total losses of your Staked Digital Assets. By using the On-chain Earn Service, you agree to assume all associated risks and potential financial losses that may arise from an “Emergency Redemption” on the Platform. You further acknowledge and accept that transaction fees may be incurred during the Emergency Redemption process and will be payable by you.

3.8 You agree that a service fee may be payable by you to us as part of Bitbase's provision of the On-chain Earn Service and it will be deducted from the Staked Digital Assets and interest payable to you, subject to the selected Redemption method (“Service Fee”). In consideration for the use of the On-chain Earn Service, Bitbase reserves the right to charge a Service Fee for offering you with any part of the On-chain Earn Service. This Service Fee will be published on the Platform and may be updated at Bitbase's sole discretion from time to time. The Service Fee may contain fee(s) charged by the corresponding Staking Protocol.

3.9 You agree that Bitbase will reasonably allocate and distribute Rewards in accordance with the Platform's rules. Bitbase reserves the right to introduce, modify or remove any Staking or Redemption limit related to the corresponding amounts or time period at its sole discretion. Bitbase shall not be liable for any losses resulting from discrepancies between Estimated Rewards and actual Rewards distribution time.

3.10 Bitbase may refuse, suspend or cease the On-chain Earn Service or your use of On-chain Earn Service (in part or in whole), at any time and for any reason, without liability to you, 

if we determine, in our sole discretion, that it is, necessary or desirable to protect the integrity, security, or reputation of the Platform or related services, to comply with Applicable Laws or for any other reason as we deem fit.

 

4. Disclosure and Consents

You hereby acknowledge, confirm your understanding, and agree that:

4.1 there may be restrictions on subscription;

4.2 you are exposed to the credit and operational risk of Bitbase by subscribing to and/or participating in the On-chain Earn Service;

4.3 third-party service providers, such as payment providers, custodians, banking partners and Staking Protocol(s), may be involved in the provision of the On-chain Earn Service. You may be subject to the terms and conditions of these third-party service providers, and Bitbase shall not be responsible for any loss that these third-party service providers may cause to you;

4.4 Bitbase: (i) subscription rules, (ii) redemption rules, (iii) maturity rules and (iv) distribution rules (as applicable and in effect from time to time) shall apply to On-chain Earn Service;

4.5 the subscription, purchase or other engagement with the On-chain Earn Service shall be governed by the documentation and operational guidelines as posted on the Platform or otherwise made available to you by us, from time to time;

4.6 Bitbase may add, remove, or modify its terms or policies, including these Terms, from time to time;

4.7 Bitbase reserves the right, in its sole and absolute discretion, to modify, suspend, terminate or restrict (as the case may be) the uses, valuation or functionalities of the On-chain Earn Service at any time, with or without prior notice; and

4.8 Bitbase may modify the technology used, the features provided, or the On-chain Earn Service requirements based on technological advancements or regulatory changes without prior notice.

 

5. Liability and Indemnity

5.1 You agree and accept that in no event will Bitbase or any of its Affiliates be responsible or liable to you or any other person or entity for any direct or indirect losses (including loss of profits, business or opportunities), damages, or costs arising out of or in connection with any risk identified in these Terms and the Terms of Use. This limitation of liability is in addition to the limitation of liability contained in the Terms of Use.

5.2 Bitbase or the responsible third-party custodians maintain full custody of the Digital Assets and user data/information which may be disclosed to governmental authorities in the event of suspension, limitation or termination arising from fraud investigations, investigations into violation of law or violation of these Terms. Bitbase will not be liable to you and/or any third party for loss or damage suffered due to delay, transmission errors, technical faults or defects, breakdowns and illegal intrusion or intervention in the information provided and services offered, or any failures or delays in completing any transactions. Bitbase will not be liable for any loss or damage suffered due to delays, technical faults, interruptions or force majeure events in the availability of the Platform, or any Services.

5.3 You are responsible for taking all reasonable measures to protect Bitbase from any damages arising out of your use of the On-chain Earn Service or other actions related to your Account. You agree to indemnify and hold harmless Bitbase or any of its Affiliates from and against all liabilities, damages, penalties, judgments, costs (including reasonable legal costs) and expenses arising directly or indirectly out of or related to your use of the On-chain Earn Service or other circumstances as set out in the Terms of Use.

 

6. Miscellaneous

6.1 These Terms are drawn up in the English language and may be translated into multiple languages for your convenience. Should there be different interpretations or conflicts between the English version and 

the version in any other language,the English version shall prevail.

6.2 Unless otherwise defined, capitalised words used in these Terms shall have the same meaning given to them in the Terms of Use. The rules of interpretation set out in the Terms of Use shall apply to these Terms.