1. Overview
1.1 The BTC Earn service ("Service") is provided by OKX ("we" or "OKX") under these Terms, which incorporate by reference the OKX Terms of Service. This Service allows users to subscribe to and redeem Bitcoin-based yield products ("Products").
1.2 By using the Service, you confirm that you have read, understood, and agreed to these legally binding Terms. In case of conflict between these Terms and the OKX Terms of Service, these Terms prevail.
2. Key Definitions
- APR: Annual Percentage Rate, indicating projected Product yield.
- Business Day: OKX operational days, excluding weekends/public holidays.
- Issuer: OKX, unless specified otherwise.
- Unplanned Early Termination Amount: Calculated fair market value of a Product upon termination, minus applicable fees.
3. Eligibility
3.1 The Service is available to users who:
- Maintain an OKX account in good standing;
- Complete KYC requirements;
- Are in permitted jurisdictions.
3.2 You affirm that:
- Digital assets used are legally sourced;
- You comply with all local laws;
- You accept the risks outlined in Section 7.
4. Using the Service
4.1 Product Subscription
- Indicative Terms: Product details (e.g., APR) displayed on OKX’s platform are subject to change until order execution.
- Order Execution: Orders are processed around 16:00 UTC+8. Pending orders cannot be canceled.
4.2 Redemptions
- Processing typically takes 8 days, subject to market conditions.
- No yield accrues after redemption initiation.
4.3 Fees
OKX charges a service fee (percentage of yield earned).
4.4 Specific Risks
- Delays/failures in processing;
- Potential loss of principal;
- Regulatory changes affecting Service availability.
5. Termination Rights
5.1 OKX may suspend/cancel orders or terminate the Service due to:
- Legal/regulatory changes;
- User breach of Terms;
- Force majeure events.
5.2 Upon termination, users may receive the Unplanned Early Termination Amount.
6. User Warranties
You represent that:
- Assets are unencumbered;
- No involvement in illegal activities;
- Compliance with sanctions lists.
7. Liability & Risk Disclosure
7.1 Key Risks:
- Market volatility may lead to total loss;
- No guaranteed yields;
- Technical failures could delay access.
7.2 OKX disclaims liability for:
- Third-party actions;
- System outages (e.g., hacking, maintenance);
- Force majeure events.
7.3 Users are solely responsible for:
- Transaction decisions;
- Securing account credentials.
8. Prohibited Conduct
Fair trading is mandatory. OKX may restrict accounts engaging in:
- Market manipulation;
- Insider trading;
- Other malicious activities.
9. Indemnification
You agree to compensate OKX for losses arising from:
- Breach of these Terms;
- Unlawful use of the Service.
10. Miscellaneous
10.1 Updates: OKX may amend these Terms unilaterally; continued use constitutes acceptance.
10.2 Governing Law: English law, with disputes resolved via HKIAC arbitration in Hong Kong.
10.3 Non-transferability: Rights under these Terms cannot be assigned without OKX’s consent.
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FAQ Section
Q: How long does redemption take?
A: Typically 8 days, but delays may occur due to market conditions.
Q: Are yields guaranteed?
A: No. APR is indicative, and actual returns may vary.
Q: What happens if OKX terminates the Service?
A: You may receive the Unplanned Early Termination Amount.
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