This XT Earn Service Agreement (“this Agreement”) is an agreement between the XT Platform (“the Platform”) and the User (“You”) regarding your purchase of XT Earn product (“the Product”) on the Platform. By visiting and logging in to the Platform (including the API, mobile application, and other client devices of the Platform), purchasing the Product, or clicking “Read and Agree”, you confirm that you have read, understood, and accepted all the terms and conditions stipulated herein and all the terms and conditions stipulated in the User Agreement. If you do not agree to any of the terms or conditions of this Agreement and/or the User Agreement, please stop visiting the Platform, using the services provided by the Platform and/or purchasing the Product. If you continue to visit the Platform, use the services provided by the Platform, or purchase the Product, you shall be deemed to unconditionally agree to the entire contents of this Agreement and the User Agreement. This agreement is written in Chinese. For user convenience, it may be translated into various languages, which are for reference only. However, in case of any discrepancies between the translated versions and the original Chinese version, the Chinese version shall prevail.
1. Scope and Application of the Agreement. This agreement applies to your purchase and redemption of Earn products on this platform. 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 shall reserve the right to decide, modify or alter this Agreement at any time in its sole discretion. Any and all modifications or alternations to this Agreement shall become effective immediately after they are published on the Platform or sent to the User. Therefore, by continuing to purchase the Product on the Platform, you accept the revised agreements and rules. If you do not agree to any modification to this Agreement, please immediately stop purchasing the Product or using the services provided by the Platform.
3. Voluntary Act. Your purchase of the Product on the Platform is your voluntary act conducted in accordance with your own financial situation and with your understanding of the relevant risks you face, and shall have no connection with the Platform or any third party.
4. Risk Disclosure. When purchasing the Product on the Platform, you may obtain high investment returns, but at the same time, there are great investment risks. In order for you to better understand the risks involved, in accordance with the relevant laws and regulations, administrative rules, and relevant national policies, we hereby remind you of the risks in and of the Product, and you should read this carefully — the risks in your purchase of the Product on the Platform include, but are not limited to:
- (1) Risk in digital assets themselves: The digital assets market is brand new and unrecognized and may not grow. At present, digital assets are largely used by speculators and rarely used by retail and commercial markets. As a result, prices of digital assets are prone to fluctuations, which in turn may have an adverse impact on digital assets investment. The digital assets market does not have a price limit mechanism like the stock market, and trading is open 24 hours a day. Digital assets are susceptible to significant price fluctuations because the fundamental characteristics of digital assets are different from traditional investments, and because of the influence of a variety of market forces and regulatory policies that are still undergoing regulatory normalization in many jurisdictions. Therefore, you must understand and agree that you shall bear all the economic losses caused to you by the digital assets themselves.
- (2) Policy risks: Due to the formulation or revision of laws, regulations, and normative documents concerning digital assets in various countries, trading in digital assets may be suspended or prohibited at any time. You must understand and agree that you shall bear all the financial losses caused by the suspension or prohibition of trading in digital assets due to the formulation or revision of national laws, regulations, and normative documents.
- (3) Internet and technical risks: The Platform does not guarantee that all the information, programs, texts, etc contained therein are completely safe and free from interference and destruction by any malicious programs such as viruses and Trojans. Therefore, it is your personal decision to log in to the Platform, purchase the Product on the Platform, use any service on the Platform, or download and use any programs, information, and data downloaded from the Platform. Meanwhile, there are risks in using the trading system on the Internet, including but not limited to the failure of software, hardware, and Internet links. As the Platform cannot control the reliability and availability of the Internet, the Platform shall not bear any responsibility for any distortion, delay, and link failure.
- (4) Force majeure risks: The Platform shall not be responsible for any failure or delay of service and any loss caused to you due to information network equipment maintenance; information network connection failure; failure of computers, communication, or other systems; power failure; hacker attacks; weather conditions; accidents; strikes; labor disputes; riots; insurrection; disturbances; insufficient productivity or means of production; fire; flood; storm; explosion; war; reasons attributable to banks or other partners; digital assets market collapse; act of the government; orders of judicial or administrative organs; other acts beyond the control of the Platform; or reasons attributable to any third party.
- (5) Market condition risks: The Platform does not guarantee the correctness and applicability of market condition analysis and market evaluation. The Platform cannot control, support, or guarantee the accuracy or completeness of trading for the information or suggestions you have obtained or will obtain from the referrer or any other organization or employee, and all the risks or consequences arising therefrom shall be borne by you and have no connection with the Platform.
- (6) Risks of account blocking and freezing: When a competent authority presents corresponding investigation documents and requires the Platform to cooperate with the investigation of your account, assets, or trading data on the Platform, or takes measures to account block, freeze or transfer your account, the Platform shall assist in providing your corresponding data or performing corresponding operations as required by the competent authority, and the User shall assume full responsibility for the privacy disclosure, inability to operate the account, losses, etc. arising therefrom.
- (7) Other risks: You shall be solely liable for any loss in the following circumstances: (a) losses caused by losing your account, forgetting your password, your improper operation and wrong investment decisions, etc.; (b) losses caused by online entrustment, failure to exit in time after hot key operation, malicious operation by others; (c) losses caused by the leveraged trading by others on your behalf on the Website; and (d) losses caused by any other accident and not attributable to the Platform.
Note: If you participate in the purchase of the Product on the Platform, you shall control your own risks, 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 own financial conditions and risk tolerance, and be aware of the risks of investing in digital assets. When you invest in digital assets, there is both the possibility of you making a profit and the possibility of you making a loss. The risk disclosure herein does not reveal all the risks in the Product. Please be sure to have a clear understanding of the foregoing. There are risks in the market; be cautious in investment.
5. Delay, suspension, termination or unexpected execution of the XT Earn service may occur due to network delays, computer system failures and other force majeure. XT shall exercise reasonable effort to ensure, but does not guarantee, that the XT Earn service execution system runs stably and effectively. XT shall bear no responsibility where the outcome of execution does not match your expectations due to the above factors.
6. The Product is designed for XT registered users, aiming to offer value-added services for their idle digital assets. The yields users earn on subscribing to XT Earn products stem from investments in stable assets such as margins, loans, and bonds, as well as from staking rewards based on the Proof of Stake (PoS) mechanism and platform incentives.
7. Product Types
XT Earn products are categorized into Savings products (Flexible/Fixed/Promotions), Staking products (Launchpool/PoS Staking), Hashrate products and Structured products (Shark Fin etc.).
8. Savings Products
- 8.1 Type
Savings products encompass Flexible, Fixed, and Promotions. - 8.2 Flexible Product Rules
Flexible products can be subscribed to at any time. After successful subscription, interest starts accruing on the next day (Day T+1, UTC), and previous day’s interest is distributed daily starting from the day after interest accrual date (Day T+2, UTC). The interest mode is "Compounded Daily". The daily interest is automatically credited in product positions and you can enjoy daily compound interest. Flexible products have no fixed terms and can be redeemed at any time. Upon redemption submission, the redemption amount is credited immediately to the Spot account, and no interest is accrued on the redemption day. - 8.3 Fixed Product Rules
Fixed products can be subscribed to at any time. After successful subscription, interest starts accruing on the next day (Day T+1, UTC), and previous day’s interest is distributed daily starting from the day after interest accrual date (Day T+2, UTC). The interest mode is "Distributed Daily" or "Compounded Daily" (may very between products). If it is "Distributed Daily", the daily interest is automatically credited in Spot account; if it is "Compounded Daily", the daily interest is automatically credited in product positions and you can enjoy daily compound interest. Fixed products have fixed terms, do not support early redemption, and is automatically redeemed upon maturity. The redemption amount is returned to the Spot account on the day after product maturity date (UTC). - 8.4 Promotions Product Rules
Promotions products can only be subscribed to during a specific subscription period. After successful subscription, interest starts accruing from the product start date, and previous day’s interest is distributed daily starting from the day after interest accrual date (UTC). The interest mode is "Distributed Daily" or "Compounded Daily" (may very between products). If it is "Distributed Daily", the daily interest is automatically credited in Spot account; if it is "Compounded Daily", the daily interest is automatically credited in product positions and you can enjoy daily compound interest. Promotions products have a fixed term, do not support early redemption, and is automatically redeemed upon maturity. The redemption amount is returned to the Spot account on the day after product maturity date (UTC).
8.5 Auto-Subscribe
Flexible products support “Auto-Subscribe”. If you enable “Auto-Subscribe”, the system will automatically subscribe to the Flexible products using the available balance in your Spot account at 23:00 (UTC) daily.
9. Staking Products
- 9.1 Type
Staking products encompass Launchpool and PoS Staking. Launchpool is a collaborative product between XT Finance and project partners, allowing users to stake and earn popular new tokens. The products have different pools based on the staking coins. PoS Staking involves various high-quality PoS (Proof of Staking) projects selected by XT Finance. Users can stake and earn staking rewards through these products. - 9.2 Launchpool Product Rules
Launchpool products can be subscribed to during the pre-subscription period until the product ends. If successfully subscribed during the pre-subscription period, interest starts accruing on the product start date. If successfully subscribed during the mining period, interest starts accruing on the same day (Day T, UTC). Previous day’s interest is distributed daily starting from the day after interest accrual date (UTC). The interest mode is "Distributed Daily", the daily interest is automatically credited in Spot account. Launchpool products have fixed terms. Some products support early redemption, with the redemption amount returned to the Spot account on the next day (UTC) after the redemption request. The products are automatically redeemed upon maturity, with the redemption amount returned to the Spot account on the next day (UTC) after product maturity date.
The total daily rewards distributed from the Launchpool pools are fixed. At the end of each day (UTC), the proportion of a user's holdings amount to the total holdings amount in the pool is calculated, and profits are distributed accordingly. User's Daily Profit = Total Pool Daily Rewards * User's Holdings Amount / Total Pool Holdings Amount. - 9.3 PoS Staking Product Rules
PoS Staking products can be subscribed to at any time. After successful subscription, interest starts accruing on the next day (Day T+1, UTC), and previous day’s interest is distributed daily starting from the day after interest accrual date (Day T+2, UTC). The interest mode is "Distributed Daily", the daily interest is automatically credited in Spot account. PoS Staking products have fixed terms, do not support early redemption, and are automatically redeemed upon maturity. The redemption amount is returned to the Spot account on the next day (UTC) after product maturity date.
10. Hashrate Products
- 10.1 Introduction
Hashrate involves a remote mining model where users purchase shares of cloud hashrate, namely lease the actual mining machine's hashrate, and receive corresponding mining rewards at scheduled intervals during the mining period. It should be noted that hashrate is different from other Earn products. The total amount paid to purchase the hashrate share is not the principal, but a non-refundable mining cost. - 10.2 Hashrate Product Rules
Hashrate products can be subscribed to during the subscription period, and some products also support subscription at any time during mining. The subscription payment amount is the total cost to purchase hashrate (non-refundable). After the subscription is successful, interest accrual starts from the start of mining, and the interest will be distributed at the interest payment time agreed upon by the product. The interest mode is "Distributed Daily", and the interest distributed is automatically credited to the user's Spot account. The duration of hashrate products may be fixed or indefinite. After mining begins, mining will continue until maturity or an early end. Shares will be automatically redeemed upon expiration (the hashrate will become invalid after share redemption), and there is no redemption amount.
The daily rewards from Hashrate Mining are not fixed. Estimated daily rewards are provided based on current hashrate and estimated mining difficulty. These are meant as reference values and not regard as a guarantee for actual rewards. Actual daily rewards are based on the daily settlement. User's Daily Profit = [Actual Daily Rewards Per Share * (1 - Management Fee Rate) - Daily Electricity Cost Per Share] * User's Holding Share Amount.
11. Shark Fin Products
- 11.1 Introduction
Shark Fin is a structured investment product based on options. Users can subscribe to Shark Fin products and earn fixed returns as well as float returns based on the performance of the Shark Fin products, which is directly tied to the index prices of actual underlying assets on Deribit platform (www.deribit.com), such as BTC and ETH. - 11.2 Shark Fin Product Rules
The subscription period for Shark Fin products is open from 08:00 (UTC) on Thursdays to 08:00 (UTC) on Fridays, allowing users to make subscriptions during this time. Please note that no orders can be submitted after the subscription period ends. The subscription amount for each period per user is subject to the total quota determined by XT. If there is no available quota remaining, you may not be able to submit your subscription order.
The final APY of a Shark Fin product will be confirmed upon its expiration, which is at around 08:00 (UTC) every Friday. This APY is determined by the index price of BTC or ETH on Deribit during the observation period (namely interest accrual period). If, at any point during this period, the index price is out of the pre-confirmed price range, you will receive a guaranteed return.
Early redemption is not supported for Shark Fin products. Your principal and returns will be credited to your Spot account after a product's expiration, expected to be after 12:00 (UTC) on Friday. Your principal is always well-protected regardless of market fluctuations.
12. Service of Notice. Any notice, consent or other correspondence required or permitted by this Agreement shall be in writing and shall be deemed to have been legally served if: (1) sent as a message within the XT platform; (2) sent via email or SMS, in which case the time of sending shall be the time of delivery.
13. Miscellaneous. This Agreement is in the form of an electronic agreement, and the User shall carefully read, acknowledge and agree to the terms and conditions of this Agreement before operation. If any provision of this Agreement violates the relevant laws and regulations, that provision shall be deemed invalid; however, such invalid provision shall not affect the validity of other provisions of this Agreement.