1. General Provisions
- 1.1: This Agreement is an agreement between a user (hereinafter referred to as the “Borrower” or “User”) and 8V Cryptocurrency Exchange (hereinafter referred to as “8V”, “8VEX”, “this Platform”, “8V Exchange”) regarding the use of the 8V collateral lending services provided by 8V Exchange.
- 1.2: Before using the services provided by 8V, users should carefully read and understand all the contents of this Agreement. Once the user clicks the “Agree” button or chooses to accept this Agreement in other ways, it means that the user has accepted all the terms and conditions of this Agreement and agrees to be bound by them.
2. Definition
- 2.1: Collateral lending: refers to the act of a user using the virtual currency he holds as collateral to borrow other virtual currencies or legal tender from the 8V Exchange.
- 2.2: Borrower: refers to the user who applies for and obtains a loan through 8V Exchange.
- 2.3: Collateral: refers to the virtual currency used by users as collateral, including but not limited to BTC, ETH, etc.
3. User Qualifications
- 3.1: Users must be natural persons aged 18 or above with full civil capacity, or legal persons or other organizations registered in accordance with the law.
- 3.2: Users shall ensure that all information provided is true, accurate, complete, and kept valid and updated.
4. Account Registration and Security
- 4.1: Before using 8V Exchange for collateral lending, users must register an account in accordance with the platform requirements.
- 4.2: Users should keep their account information and passwords safe. 8V does not assume any responsibility for any account information leakage or financial loss caused by the user’s personal reasons.
5. Loan Process
- 5.1: When applying for a loan, users must submit collateral as required by the platform and confirm the loan amount and term.
- 5.2: 8V will review the collateral submitted by the user. Once the review is passed, the user can obtain the corresponding loan.
- 5.3: When the loan expires, the user shall repay the loan principal and interest on time. 8V will unfreeze or dispose of the collateral based on the user’s repayment situation.
6. Interest Rates and Fees
- 6.1: The loan interest rate is determined by 8V based on market conditions and the user’s credit status, and is clearly stated in the loan contract.
- 6.2: When using the 8V Exchange services, users must pay the corresponding service fees. The specific fee standards are subject to the exchange’s public announcement.
7. Management and Disposal of Collateral
- 7.1: During the loan period, users are not allowed to dispose of their collateral without authorization.
- 7.2: If the user fails to repay the loan on time, 8V has the right to dispose of the collateral in accordance with this Agreement and relevant regulations to repay the user’s debt.
8. Liability for Breach of Contract
- 8.1: If the user violates any terms of this Agreement, 8V has the right to take measures including but not limited to suspending or terminating services, disposing of collateral, and pursuing legal liability.
- 8.2: If the user causes losses to 8V due to breach of contract, the user shall bear the corresponding compensation liability.
9. Risk Warning
- 9.1: The virtual currency market carries a high level of risk. Users should fully recognize and understand the associated risks when engaging in lending operations.
- 9.2: Users should make prudent decisions and invest rationally based on their own financial situation and risk tolerance.
10. Modification and Termination of the Agreement
- 10.1: 8V reserves the right to amend this Agreement from time to time in accordance with changes in laws and regulations or the needs of platform operations. The amended Agreement will be notified to users through platform announcements or other means, and users should pay close attention to it.
- 10.2: If the user does not agree to the modified agreement, he/she has the right to stop using the 8V platform services. If the user continues to use the services, it will be deemed that he/she agrees to the modified agreement.
- 10.3: Users have the right to cancel their accounts at any time, but they must ensure that all loans have been repaid. 8V has the right to terminate the service if the user violates this Agreement.
11. Others
- 11.1: This Agreement constitutes the complete agreement between the parties regarding the matters hereof and supersedes any previous oral or written agreements, statements or understandings between the parties.
- 11.2: If any provision of this Agreement is deemed invalid or unenforceable, it will not affect the validity and enforceability of the other provisions.
- 11.3: The headings of this Agreement are for convenience only and shall not affect the interpretation of the terms.
By using 8V Exchange, users are deemed to have read and understood the above terms of the agreement and are willing to be bound by them.