ViaBTC Crypto Loans User Agreement

This ViaBTC (hereinafter as “we”, “us” or “our”) Crypto Loans User Agreement (the “Agreement”) constitutes part of our Terms of Service (the “Terms of Service”). For the purposes of this Agreement, the term “Platform” shall mean ViaBTC and any of its designated affiliates, partners, or operating entities, as applicable from time to time. Unless otherwise provided herein, the terms used herein shall have the meanings specified in the Terms of Service and matters not expressly stipulated herein shall be subject to the provisions in the Terms of Service.

The Agreement is a contract made and entered into by and between ViaBTC and users (hereinafter as “users”, “you” or “your”) on our provision of crypto loans service to you (the “Service”) and charging of corresponding fees (if applicable). We offer the Service to address your need for flexible capital turnover as well as holding and using a specific cryptocurrency and other crypto assets, and requiring you to provide corresponding crypto asset margins (the “Pledged Asset”) as the prerequisite for the loans.

Please carefully read the Agreement in its entirety and use the Service only after you have fully read and understood it in its entirety. Your use of the Service means that you know, understand, and agree to all terms hereof and all terms of the Terms of Service, including any modification and update to the Agreement made by us at any time.

1. Disclosure of Risks

There will be high transaction risks for you when you use the Service. To help you better understand related risks, please read the following risk warning carefully.

1.1 Risks of Crypto Assets and Transaction

The crypto asset market is a brand new and unconfirmed market. At present, there are many uses by speculators in the crypto asset market, while the number of retail and commercial uses is relatively small. Trading in crypto assets carries high risks. The transactions are uninterrupted around the clock, there is no limit on gains or losses, and the prices are susceptible to significant fluctuations due to the influence of market makers, speculators, and government policies of countries. You shall understand and agree that the investment in and transactions of crypto assets may lead to partial or total loss of your assets. Therefore, you shall determine the use of crypto assets and the amount of crypto asset transactions according to the degree of loss that you can bear, and you shall independently be responsible for any economic loss arising therefrom.

1.2 Risks of Laws, Regulations, and Policies of Countries

Due to the formulation or modification of related laws, regulations, and policies of various countries, crypto asset transactions may be suspended or prohibited in specific countries at any time. You shall understand and agree that all risks, losses, or consequences arising therefrom shall be borne by you independently.

1.3 Privacy Risks

In order to abide by global industry regulatory standards, local regulatory standards, and government orders about anti-money laundering (AML), know your customer (KYC) and counter-terrorism financing (CTF), we will follow the requirements of governments or competent authorities of countries to provide related information about you if governments or competent authorities present corresponding investigation documents that require us to cooperate in the investigation of your account information, assets, or transaction data on our platform. Any privacy data disclosure or asset loss caused thereby shall be borne by you independently. You can refer to our Privacy Policy for details.

1.4 Information and Market Risks

Due to the novelty and volatility of crypto asset transactions, we suggest that you seek professional guidance and assistance if you have any questions before conducting a transaction. However, we do not directly provide you with any advice on transactions or investments. You shall understand and agree that any assistance, information, or suggestion on investment which you have obtained or will obtain from any third party has nothing to do with us, and all risks, losses, or consequences arising therefrom shall be borne by you independently.

1.5 Internet and Technology Risks

We cannot guarantee that all information, data, programs, and other things contained in the Service and related crypto assets and Pledged Asset are free from interference and damage by any malicious programs such as viruses or Trojan horses. In addition, we cannot control the availability and stability of the Internet. There are inherent risks in using the Internet for doing transactions, including but not limited to delays or failures of software, hardware or Internet links, computer system failures, and other possible force majeure factors that may lead to delays, suspensions, discontinuance, or deviations in the performance of the Service. You shall understand and agree that it is your personal decision to log in and utilize the Service or download and use any downloaded information, data and program, and pledged crypto assets. The stability of server login, web page or application access or network transaction, crypto assets custody, etc. is not under our control. All risks, losses, or consequences caused by the above factors shall be borne by you independently.

1.6 Force Majeure

Any and all risks, losses, or consequences arising from suspensions, delays, or terminations of the Service brought about by equipment or system maintenance, power failures, bad weather, epidemics, accidents, political activities, wars, government actions, orders of judicial or administrative bodies, and other actions that are beyond our control or our ability, or for third-party reasons shall be borne by you independently.

1.7 Other Risks

1.7.1 You shall understand and agree that we have the right to fully manage your ViaBTC account and Pledged Asset used for opening the Service during the provision of the Service, and that we shall have the right (but no obligation) to take Forced Liquidation measures under specific circumstances, and any economic losses caused by such measures shall be borne by you independently.

1.7.2 You acknowledge and agree that the Service operates under a unified position risk management mechanism. Under this mechanism, all of your loans and Pledged Asset shall be consolidated and valued in USDT for overall management, based on which the Pledge Ratio is calculated, and the platform shall implement additional margin (including automatic top-ups) and forced liquidation rules. You confirm that you fully understand the risks that may arise from this mechanism, and that the specific rules shall be governed by this Agreement and the platform’s publicly disclosed provisions.

1.7.3 If you violate the Agreement according to our unilateral judgment, or the Service or if your use of the Service is illegal under the laws and regulations of your jurisdiction, we shall have the right to suspend or terminate your use of the Service or related crypto asset transactions at any time, and all risks, losses, or consequences caused by the above factors shall be borne by you independently.

1.8 You shall understand and agree that your action of pledged borrowing on our platform is a voluntary action. You shall consider carefully and use clear judgment to assess your financial situation and the above-mentioned risks and make any decision about the use of the Service. The risk warning herein is unable to completely list all the existing or potential risks of the Service. We will not assume any responsibility for any other risks and adverse consequences that are not caused by our gross negligence.

2. Terms of the Service

Using the Service means that you have read and agreed to the following Terms of the Service.

2.1 Opening and Managing the Loan Account

2.1.1 Verification. Before using the Service, you shall meet the qualified user conditions specified in the Terms of Service and reasonable conditions that we separately require you to satisfy in accordance with relevant laws (including but not limited to global or regional standards or policies about know your customer, anti-money laundering, and counter-terrorism financing), and complete any verification process required by us. The information which may need to be provided includes but is not limited to your name, telephone number, e-mail account, address proof, identity certificate, other social media account numbers, and certificates of crypto asset sources. Apart from providing such information, you shall agree to authorize us to inquire about such information and your other related information directly or indirectly (through a third party) in order to verify related contents. The Service may depend on the information authorized by you. You shall ensure that the information provided by you is accurate and true. You shall promptly update your information when any changes are made to the information you have provided. Should we find that the information provided by you is wrong, untrue, inaccurate, incomplete or misleading, we shall have the right to inform you to correct or directly delete relevant wrong information and to suspend or terminate the Service in part or in whole as the case may be. You shall independently bear the losses arising therefrom.

2.1.2 Account Setup. After preliminary verification and review, you will be able to use your ViaBTC loan account to immediately start utilizing the Service. You shall be responsible for properly keeping the number and password of your ViaBTC loan account, and you shall independently bear all legal liabilities for all activities and events that occur as a result of your use of your ViaBTC loan account. The Platform shall not be liable for any risks arising from user operations or the disclosure of credentials,  unless otherwise specified herein. 

2.1.3 Requirements for Use of Pledge. Without our consent or authorization, your account pledge shall only be used by the account registrant, and you shall not give, borrow, rent, transfer, or otherwise deliver your loan account to a third party for use. We reserve the right to suspend, freeze, or cancel the use of your loan account by persons other than the account registrant. If you suspect or find unauthorized use of your username and password, you shall notify us immediately. We will assume no liability for any losses or damages arising from the use of your loan account by you or any third party with or without your authorization.

2.1.4 Account Security. We are committed to maintaining the security of Pledged Asset and have implemented protection measures in line with industry standards for the Service. However, the actions of individual users may pose risks. You agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking necessary security measures to protect the security of your own loan account and personal information. The Platform shall not be liable for any losses arising from market fluctuations, counterparty risk, technical failures, network interruptions, hacking, or force majeure events.

2.1.5 Requirements for Pledged Funds and Loans. You undertake to ensure that the sources of your Pledged Asset are legal and compliant when using the Service, and that the use of your loans is in line with the Terms of Service and related laws and regulations. If any illegal activity, fraud, or market manipulation is detected, the Platform shall have the right to suspend or terminate your access to the Services. You acknowledge and agree that, as of the Effective Date of this Agreement, the supported loan currency under the Services is USDT, and the supported Pledged Asset currencies include BTC, BCH, LTC, and DOGE. The Platform shall have the right to adjust the supported loan and Pledged Asset currencies as necessary to meet business requirements.

The loan funds under the Services originate from the Platform’s legally and compliantly operated reserved proprietary funds or a reasonably managed fund pool, and the Platform retains the final discretion regarding the management of such loan funds. You represent and warrant that you hold full legal title and disposition rights over the Pledged Asset, and that such Pledged Asset is free from any third-party claims or encumbrances. You further acknowledge and agree that the Platform shall not be liable for any risks arising from the source, payment, or management of loan funds involving third-party operations.

2.2 Payment of Loans and Pledged Asset

2.2.0 The Services operate under a unified position risk management mechanism. Under this mechanism, all of the User’s loans and Pledged Asset shall be aggregated and managed in terms of their USDT value. The Pledged Asset ratio, margin top-ups (including automatic top-ups), forced liquidation, and other risk control measures shall be calculated and executed based on such unified USDT valuation.

2.2.1 Before using the Service, please carefully read the article about ViaBTC Crypto Loans and  Frequently Asked Questions. You acknowledge and agree that if you fail to fully understand such operational rules, any risks, losses, or adverse consequences arising therefrom shall be borne solely by you, and the Platform shall not be liable.

2.2.2 Pledged Asset  Ratio
The Pledged Asset Ratio refers to the ratio of the total outstanding principal and interest of the user’s loan(s) to the value of the user’s Pledged Asset. The value of Pledged Asset shall be calculated based on the index prices and discount rates published by the Platform, and the specific calculation method and parameters shall be as set forth in the rules published by the Platform from time to time. The Platform reserves the right to adjust the valuation methods and parameters according to market conditions.

2.2.3 Key Pledged Asset Thresholds

The Initial Pledged Asset Ratio and the Top-up (Margin Call) Pledged Asset Ratio shall be uniformly determined by the Platform. When the user’s Pledged Asset Ratio reaches the Top-up Pledged Asset Ratio, the Platform has the right to notify the user to provide additional Pledged Asset. When the user’s Pledged Asset Ratio reaches the Forced Liquidation Pledged Asset Ratio, the Platform has the right to directly dispose of the user’s Pledged Asset and execute liquidation. The Forced Liquidation Pledged Asset Ratio shall be dynamically determined by the Platform based on its risk management strategy, and the specific thresholds shall be as published by the Platform from time to time.

2.2.4 Loan Amount and Pledged Asset Cap

Users’ loan amounts shall comply with the minimum limit specified under this Service. A single loan shall not be lower than the minimum amount set by the Platform. Each pledged token is subject to a maximum Pledged Asset Cap, which shall be used to calculate the maximum loanable amount for such token; any portion exceeding the Pledged Asset Cap shall not be included in the loanable amount. Users’ overall Pledged Asset Ratio shall be calculated based on the total fair value of all Pledged Asset and shall not be affected by the Pledged Asset Cap of any individual token. The Pledged Asset Cap and related parameters for each token shall be as published by the Platform from time to time. The Platform reserves the right of final interpretation and shall have the right to adjust such rules and parameters in accordance with its risk management and operational requirements.

2.2.5 Loan Term and Interest Rate
The loan term is perpetual, and the user may repay the loan at any time at their discretion. The loan interest rate shall be a fixed rate, determined and published by the Platform. The Platform reserves the right, to the extent permitted by law and in accordance with this Agreement, to adjust the interest rate, which shall take effect on the day following the announcement and apply to all outstanding and new loans. The Platform shall have the right to, within a reasonable scope, offer preferential interest rates and terms for certain users; all relevant loans during the preferential period shall accrue interest at the preferential rate, after which the standard rate shall resume.

2.2.6 Interest Calculation and Settlement
Interest on loans shall be calculated on a daily basis using simple interest. Interest accrual begins from the date the loan is disbursed. When repaying, the user shall prioritize the repayment of accrued interest before principal. Any unpaid interest shall continue to constitute amounts payable by the user, and the Platform reserves the right to collect and settle such interest in accordance with this Agreement.

2.2.7 Pledged Asset and Loan Operations

The user shall provide Pledged Asset for the loan in accordance with the terms of this Agreement. Upon the Platform’s confirmation that the Pledged Asset have been delivered, the user shall be entitled to borrow the corresponding cryptocurrency from the Platform under the conditions set forth in this Agreement.

2.2.8 Repayment Rules
Users shall perform their repayment obligations in accordance with this Agreement and any applicable rules, including the repayment of principal, interest, and any other fees or expenses arising from the loan. If Users fail to repay the loan as required, the Platform shall have the right, within the scope permitted by law, to apply the proceeds from the disposition of Pledged Asset in connection with forced liquidation or other risk control measures to repay the due debt, including interest, principal, and any other related fees. Users shall remain liable for any outstanding amounts and shall bear all related costs. The Platform shall have the right to, at its discretion, determine the method and order of disposition and reserves the final right of interpretation.

2.2.9 Restrictions on Pledged Asset Withdrawal

Prior to full repayment of the loan principal, interest, and any other fees or expenses arising from the loan, Users may only withdraw a portion of their Pledged Asset provided that such withdrawal does not cause the users’ Pledge Ratio to exceed the initial Pledge Ratio; if the withdrawal would result in a Pledge Ratio exceeding the initial ratio, the withdrawal shall not be permitted. The Platform shall determine the specific procedures and rules for the withdrawal of Pledged Asset and reserves the final right of interpretation.

2.3 Our Rights

2.3.1 Right to charge interests and/or fees.  In accordance with the relevant rules published on the “Help Center” page of the Website, the Platform is entitled to collect any interest and other applicable fees (including, without limitation, liquidation fees and transaction fees, if any) incurred by you in connection with the use of the Services. You agree and undertake to pay such amounts in accordance with the requirements published by the Platform from time to time. The applicable standards shall be determined in accordance with the Platform’s rules, and the Platform reserves the final right of interpretation.

2.3.2 Right to implement risk control measures. During the course of the lending service, due to market fluctuations, price changes, technical failures, force majeure events, or other risk events, the Platform shall have the right to, at its sole discretion and based on real-time Pledge Ratios and other risk parameters, determine the occurrence of a risk event and reserves the right to take measures with respect to the Pledged Asset, including but not limited to liquidation, automatic top-up, or other risk control measures.

For the purpose of the Agreement,  ‘Forced Liquidation’ (hereinafter referred to as ‘Liquidation’) refers to the right that we arrange to sell or discount the Pledged Asset at a certain price (including disposal through currency transaction channels or fiat currency transaction channels) and give priority to using the proceeds from disposal of the Pledged Asset for compensation to the extent of the value equivalent to the principal, interests, and other repayable expenses of the crypto currency. You may find detailed rules and regulations on liquidation and other risk control measures under “Help Center” on our website.

During maintenance of the ViaBTC platform, or at any other time when we deem appropriate, you agree that we will be fully responsible for managing your Pledged Asset in the event of a risk as unilaterally determined by us, including but not limited to closing a position or automatic top-up.  The specific trigger conditions and execution rules for automatic top-up, including the sequence of asset transfers, shall be subject to the Platform’s rules. In the event the Platform executes a liquidation, the proceeds shall be applied first to repay your loan principal, interest, and any other related fees. For whitelist or special users, any deficit resulting from under-pledge may be addressed manually by the Platform or offset from mining rewards. If the risk control measures (such as closing a position) taken by us still fail to make up for all the losses incurred in providing the Service to you, we reserve the right to take other remedy measures (including but not limited to freezing and deducting the crypto assets in your ViaBTC account and other accounts) and the right to further investigate your legal liabilities.

2.3.3 The Platform shall have the right to establish liquidation exemption measures for certain users (the 'Whitelist'). In the event that a Whitelist user triggers the forced liquidation threshold, the Platform shall have the right to, at its discretion, temporarily suspend the execution of forced liquidation and maintain the user’s positions, while providing risk notifications to the user. Whitelist users may still trigger automatic top-ups, and any losses resulting from failure to top up in a timely manner or for any other reason shall be borne solely by the user. The Platform reserves the right to take appropriate measures, including manual follow-up and reasonable recovery actions. The configuration and scope of applicability of the Whitelist shall be determined solely by the Platform, and the Platform shall have the sole right to adjust it at any time. The Platform shall have the final interpretation right with respect to this clause.

2.3.4 Right to issue notices. You understand and agree that in the process of using the Service, we have the right (but no obligation) to issue various notices (such as early warning notices and position closing notices) to you via SMS, emails, or client messages under specific circumstances (including but not limited to the circumstance that we determine that there is a risk). The Platform reserves the right to unilaterally adjust the rules and risk control parameters, and any such adjustments shall take effect from the date of their publication.

2.4 Suspension or Termination of the Service

We reserve the right to suspend or terminate the provision of the Service for you at any time when we deem that it is necessary or reasonable  (including, without limitation, where you are in breach of this Agreement, where the laws or regulations of your jurisdiction prohibit the provision of such Services, or where system failures or maintenance requirements arise).  You agree that, to the maximum extent permitted by law, we do not need to assume any legal liability to you for this reason. The Platform shall likewise bear no liability for any interruption of the Services caused by force majeure events (including, without limitation, natural disasters, war, changes in government policies, or technical failures).

3. Miscellaneous

3.1 Modifications

We will adjust the Agreement and related ViaBTC products and services rules from time to time in accordance with applicable laws and regulations or as we deem necessary or reasonable. You shall regularly review the Agreement and related rules and remain alert to revisions. If you do not agree with the revised contents, you shall immediately stop using the Service, repay the cryptocurrency borrowed, and pay the unpaid interests and expenses. After the updated version of the Agreement and related rules are released, your continued use of the Service shall be deemed to be your agreement to the updated contents and agreement to abide by the updated terms and other related rules.

3.2 Language

The language of the Agreement is English. For the benefit of your comprehension, the Agreement may be translated into different languages. In case of any inconsistency between different language versions, the English version shall prevail. Except for the English version, other language versions are for reference only.

3.3 Contact Us

If you have any questions or concerns about the Agreement or the Service, or if you want to submit any requests based on the Agreement, please refer to our Help Center and contact us on our support page.