Bitget Crypto Loan Service Agreement

1. Important Notice

By making use of Bitget crypto lending services, you acknowledge that you have read, understood, and accepted all of the terms and conditions of the Bitget Crypto Lending Service Agreement. If you do not understand and accept the terms under this Agreement in their entirety, you should not use any of the crypto lending services.

2. Scope

1. The following terms apply to all users who access and use the crypto lending services provided by Bitget.

2. This Agreement is a supplement to the Bitget User Agreement, and all provisions outlined in the User Agreement shall continue to apply. In the event of any conflict or inconsistency between the terms of this Agreement and those of the User Agreement, the terms of this Agreement shall prevail, unless expressly stated otherwise.

3. Eligibility

1. In order to access and use the crypto lending services, you must satisfy the eligibility criteria outlined in the terms of this Agreement or the Bitget trading platform.

2. We may change our eligibility criteria for the use of crypto lending services at any time, including by introducing additional requirements.

3. If you no longer meet our eligibility criteria for using the crypto lending services at any time after you have accessed or used the services (including because of a change to your circumstances or our eligibility criteria), you must notify us promptly, and we may suspend or terminate your ability to access or use the crypto lending services.

4. Crypto Lending Services

1. You hereby represent and warrant to us that: (a) you are authorized and permitted to use the crypto lending services; (b) the terms of this Agreement constitute legal, valid, and binding obligations enforceable against you; and (c) your use of the crypto lending services and Bitget's provision of such services to you is not unlawful under the laws and regulations of any jurisdiction to which you are subject. You agree to advise us immediately should there be any change in laws and regulations or other circumstances that could render this representation and warranty invalid. You hereby agree to indemnify Bitget against any loss to Bitget arising out of your breach of this representation and warranty or your obligation to advise us of changes in laws and regulations.

2. When you borrow digital assets under this Agreement, you are entering into a loan where you are the borrower and Bitget is the lender. You agree and acknowledge that Bitget has the right, in accordance with the terms of this Agreement, to grant you a loan and take any actions with regard to such loan.

3. We may suspend or discontinue the availability of the crypto lending services in relation to any digital asset (in whole or in part) at any time, and reduce, cancel, discontinue, or modify the crypto lending services without any liability to you.

4. You shall be responsible and assume and shall bear all risk of loss for all conduct relating to the crypto lending services. Bitget does not take any responsibility for any loss or damage incurred as a result of your access to and use of the crypto lending services.

5. Loans and Repayment

1. When applying for a loan, you shall specify the digital asset you wish to borrow and the digital asset you wish to provide as collateral for the loan.

2. Provided that you satisfy all the eligibility criteria as determined by Bitget and you have sufficient eligible collateral available in your Bitget account, you may apply for a loan. If Bitget agrees to grant you a loan, the loaned assets will be transferred to your Bitget account. You may use the assets on Bitget's platform in any manner that Bitget may permit or withdraw the assets.

3. Bitget may attach conditions to the use of any particular loanable asset or eligible collateral, including but not limited to specifying a minimum and maximum amount that a particular asset may be loaned.

4. Bitget may determine which digital assets constitute loanable assets and eligible collateral at its sole discretion. If Bitget determines that a digital asset no longer qualifies as eligible collateral or loanable asset, we may terminate all relevant loans prior to maturity and initiate liquidation without any liability to you.

5. If you fail to repay a loan by the time it becomes due, interest will accrue at 2 times the principal of the loan until it is fully repaid. Specifically, starting from the time when the loan becomes overdue, the hourly interest = outstanding principal × 2 × daily interest rate ÷ 24.

6. You may repay a loan in whole or in part at any time prior to maturity without incurring any additional fees or penalties for such early repayment.

7. If your loan-to-value (LTV) ratio has reached the value outlined by Bitget, your collateral will immediately be subject to liquidation, and you will be liable to pay the liquidation fee in addition to any additional fees and costs associated with the liquidation. LTV = (the value of the principal in USDT + the value of the accrued interest in USDT) ÷ the value of the collateral in USDT.

Liquidation refers to the process of converting the borrower's collateral into the loaned assets, then returning the remaining value of the collateral to the borrower after deducting the principal, interest, liquidation fees, and any other potential costs.

6. Collateral

1. During your use of Bitget's crypto lending services, Bitget shall determine the amount of collateral in your spot account. Upon entering into a loan, the collateral will be deducted from your spot account and retained by Bitget. Upon your repayment of the principal and interest as per the requirements, Bitget shall return the collateral to your spot account. The form and amount of the collateral shall be determined by Bitget.

2. Certain digital assets may only be valued as collateral on a discounted basis as determined by Bitget at its sole discretion.

3. Bitget shall be entitled to stake, invest, loan, handle, or transfer any collateral at its sole discretion. Bitget shall not be under any obligation to notify you thereof, nor be liable to you for any interest, staking rewards, or income that may be derived therefrom. No interest shall be paid to you on any collateral unless expressly outlined on the Bitget platform. You acknowledge and agree that any interest or income earned on collateral (if any) under the terms of this Agreement may be retained by Bitget for its own benefit. Bitget shall not be liable to you for the loss of any collateral resulting directly or indirectly from a closure, bankruptcy, insolvency, liquidation, receivership, hack, security breach, technical malfunction, or other force majeure events.

4. Bitget reserves the right to unilaterally reduce the term of your loan to immediate maturity if we believe your borrowed assets are at liquidity risks, which may significantly impact the platform's operations, user interests, or the stability of the financial market. You are required to promptly repay the loan and interest; otherwise, Bitget reserves the right to liquidate your collateral for the borrowed assets. Any agreement contrary to this clause does not affect its validity.

7. Interest

1. Simple interest shall accrue with respect to any loan on an hourly basis at the start of each hour (e.g., 1:00 PM, 3:00 PM, etc.) Time periods of less than one hour shall be counted as one hour. Interest with respect to any loan shall be calculated hourly as follows: interest = outstanding principal × daily interest rate ÷ 24.

2. Bitget reserves the right to modify the rates of fees, interest, commissions, and charges, or impose other fees, commissions, and charges at its sole discretion.

8. Default and Termination

1. A default shall be deemed to occur in the event that:

• Any payment or repayment in connection with any loan becomes overdue.

• The collateral balance falls below the collateral requirements as outlined by Bitget.

• Any representation, warranty, or undertaking made by you to Bitget becomes untrue, inaccurate, incomplete, or misleading, where you fail to inform Bitget as soon as reasonably possible.

• You fail to comply with the terms of this Agreement or perform any of your obligations under this Agreement.

• You have been found to be in breach or are being investigated by relevant authorities for being in breach of any applicable laws and regulations.

• You fail to promptly provide Bitget with verification of your identity or the identity of any person entrusted by you to act on your behalf.

1. If a default occurs, Bitget may immediately take any or all of the following actions:

• Suspend (indefinitely or otherwise), cancel, or terminate any Bitget account, or prohibit you from using Bitget services.

• Liquidate or close any outstanding transaction. Bitget may determine the value of such position as soon as possible from the date of the closure at its absolute discretion.

• Modify the applicable collateral requirements or sell the collateral and use the proceeds to meet your obligations.

• Exercise any other authority or power that we deem appropriate.

Disclaimer: This document has been translated and published in a variety of languages. If there is any inconsistency between any translated version and the original document, including but not limited to misstatements, omissions, or mistranslations, the Simplified Chinese version shall prevail.