Preamble:
1. Party A (BigONE) is a platform that holds a certain amount of digital assets and operates services including cryptocurrency lending.
2. Party B intends to borrow digital assets from Party A via the BigONE platform for lawful personal needs.
3. To achieve mutual goals, Party A agrees to lend digital assets to Party B, under the condition that Party B pledges corresponding digital assets as collateral.
4. Both parties, adhering to principles of equality, voluntariness, and good faith, enter into this contract through friendly negotiation.
5. The parties agree to the following terms:
Important Notes:
1. Digital assets under this agreement are not issued by any financial institution, company, organization, or Party A.
2. Party A reserves the right to refuse agreements with users from certain restricted regions based on applicable laws. Party B must confirm they are not from any such restricted region before signing this agreement.
3. Digital assets are speculative and volatile, not suitable for most individuals. Party B should fully understand the potential losses and risks before participating.
4. The platform must not be used for money laundering, smuggling, bribery, or any other illegal activities. Violations may lead to account suspension and reporting to authorities.
5. Internet-based transactions carry inherent risks. Party A is not liable for failures not caused by gross negligence.
Article 1 - Definitions
| Project | Definition | Remarks |
| Digital assets | A type of digital asset, i.e., the accounting unit of a decentralized electronic cash system. | Hereinafter referred to as "BTC/USDT" or "digital asset". |
| Hourly | BigONE calculates interest on an hourly basis. | |
| Loan | This contract uses "loan" to represent the digital asset lent by Party A | |
| Repayment | The act of Party B returning the digital asset to Party A | |
| Actual issuance time | The time of the action of remitting the loan to the address of one party shall be based on the time shown in the order provided by the party. | |
| Pledge | The digital assets pledged by Party B in accordance with the pledge rate agreed in this contract to ensure timely repayment of the currency. | |
| Closing | The lender directly sells, trades, and disposes of the pledged digital assets without notifying the borrower. | Ways of sending emails, text messages, or APP message pushes |
| Wallet account | BigONE is responsible for operating and implementing functional product services for storing and transferring digital assets through technical means. | The funds borrowed by BigONE will be placed in the user's wallet-earn account. |
Article 2 - Borrowing Term
1. The borrowing under this contract is a current loan. The interest on the loan starts from the [actual issuance time]. The borrower can return all or part of the borrowing at any time according to his own needs.
2. There is no fixed term for the borrowing. The borrower can return it at any time. The system will calculate the interest according to the actual usage time.
3. The lender has the right to adjust the lending rules or terminate the lending service according to the market risk situation within a reasonable range. The adjustment content will be notified separately through official channels.
Article 3 - Borrowing Issuance and Borrowing Account
1. If all the following conditions are met, the lender will issue the borrowing currency in whole or in part:
1.1. This contract has come into effect and remains valid;
1.2. The pledge procedures stipulated in this contract have been completed;
1.3. Other conditions that the lender believes should be met.
1.4 Party B shall ensure that the address is accurate and bear the responsibility caused by the wrong address provided.
2. After Party A delivers digital assets to Party B, it shall notify Party B on the same day;
3. Party B pledges part of its digital assets to Party A as a prerequisite for Party A to lend, and both parties agree to transfer the pledge to BigONE for safekeeping.
4. Under this Agreement, both parties shall bear the taxes and fees incurred by this transaction, including but not limited to personal income tax, corporate income tax, value-added tax, business tax or taxes and fees required by the corresponding countries and regions due to the overseas citizenship of either party.
Article 4 - Interest and Repayment
1. In view of the strong liquidity of digital assets, both parties agree that Party B shall pay Party A a certain fee as the use fee of the borrowed currency (hereinafter referred to as "interest") for using Party A's digital assets.
2. The "interest" under this Agreement shall be calculated on an hourly basis according to the calculation method agreed in this Agreement, and shall be fulfilled by Party B paying a certain amount of digital assets to Party A. Both parties shall comply with it.
3. Borrowing interest rate and interest calculation method
3.1 The borrowing interest rate is a fixed hourly interest rate, and the borrowing interest is calculated according to the following formula:
Hourly interest = (borrowing principal + interest generated) * hourly interest rate
3.2 Interest calculation starts from the time the borrowing is successfully issued, and the system will automatically record the borrowing time in hours.
3.3 The part of the interest calculation that is less than 1 hour will be calculated as 1 hour, and multiple repayments or partial repayments within a day will be based on the actual number of interest calculation hours.
4. Interest settlement and repayment rules
4.1 If Party B actively initiates repayment during the borrowing process, the interest will only be calculated until the hour when the repayment is initiated.
4.2 Party B can repay the principal and interest at any time according to its own funding arrangements.
Article 5 - Guarantee
1. The guarantee method for borrowing under this contract is digital asset pledge.
2. The parties agree that the pledge is the digital asset under the name of Party B. The types of digital assets used as collateral are [ ] and the number is [ ];
3. Both parties agree that BigONE shall keep the collateral and BigONE shall provide storage;
4. If both parties sign this contract but Party B delays the delivery of the collateral, if the delay is within 1 day, the time for Party A to transfer the loaned assets to Party B shall be postponed accordingly;
5. If the delay exceeds 1 day, it shall be deemed that Party B has breached the contract.
6. The borrower guarantees that the pledged digital assets belong to him/her legally and he/she has full and legal ownership and disposal rights over the pledged assets in accordance with the law. There is no ownership dispute over the pledged digital assets, and the establishment of this pledge guarantee will not be subject to any restrictions or cause any illegal circumstances.
7. The scope of guarantee for pledged digital assets is all payable debts of the borrower under this contract (including borrowed currency, borrowed currency interest, etc.), as well as liquidated damages, compensations, other payments (if any) that the borrower should pay to the lender due to breach of this contract, and expenses incurred by the lender in realizing creditor's rights and security rights (if any, including but not limited to litigation fees, arbitration fees, property preservation fees, travel expenses, execution fees, evaluation fees, auction fees, notarization fees, delivery fees, announcement fees, etc.).
Article 6 - Return of Currency and Pledge
1. Unless otherwise agreed in this Agreement, Party B may return all or part of the principal of the borrowed currency at any time and settle the corresponding interest on an hourly basis. This Agreement does not set a fixed expiration date. Both parties regard this loan behavior as a "current" nature. Party B can borrow and repay at any time, which is more flexible and free.
2. The borrower (Party B) shall transfer the returned borrowed currency amount to the currency receiving address provided by the lender (Party A) in accordance with the requirements of the agreement. Party A shall ensure that the address is real and valid. Party A shall bear the asset loss caused by the wrong address.
3. After receiving the loan currency returned by Party B, Party A shall issue a notice of confirmation of return to Party B as soon as possible after confirming the arrival. The specific return time shall be based on the blockchain network record or the arrival time on Party A's receiving address.
4. The BigONE platform will return the collateral (if any) to Party B's account after Party B returns all the loan currency and interest.
5. To facilitate the parties to clearly understand the interest calculation and repayment rules, the following explanations are added:
5.1 The loan under this agreement is a "current account" mechanism, and there is no minimum loan period. Party B can repay all or part of the principal at any time according to its own needs, and interest will be calculated only for the actual number of hours borrowed;
5.2 The interest calculation accuracy is charged on an hourly basis, and the part less than 1 hour will be charged as 1 hour;
5.3 The platform supports multiple repayments or installments. Each time you repay, the system will automatically settle the accumulated interest up to that time and update the remaining loan principal;
5.4 Party B can view the real-time loan duration, interest payable and remaining principal on the platform to facilitate the management of loan costs and operational decisions;
5.5 Once the loan behavior is confirmed, the platform will start to accrue interest. It is recommended that Party B reasonably arrange the use of funds and repayment time to reduce loan costs and improve asset efficiency.
Article 7 - Pledge Rate Clauses and Liquidation Disposal
1. Since the collateral under this contract is a digital asset, there is a large risk of price fluctuations. The borrower agrees that the lender sets the pledge rate clause. Pledge rate = current total price of the borrowed currency / current total price of the pledged asset. During the performance of the contract, when the price changes due to market fluctuations, according to the changes in the real-time pledge rate, the parties to this contract shall perform as follows:
1.1. When the pledge rate is greater than or equal to the warning line, the borrower shall supplement the pledged digital assets to the lender so that the pledge rate is less than the liquidation line;
1.2. When the above-mentioned situation requires the borrower to supplement the collateral or provide additional margin, the borrower shall supplement or provide it after receiving the notification from BigONE;
2. In the following circumstances, the lender has the right to declare the loan due in advance, or to liquidate the position through BigONE without notifying the borrower, that is, the lender has the right to require BigONE to transfer the collateral to the lender, and has the right to directly sell, trade, and dispose of the pledged digital assets to ensure the realization of its creditor's rights:
2.1. Party B bears criminal responsibility for any illegal act;
2.2. Party B is missing, declared missing or dead, 3 days after Party A or BigONE knows of the above matters of Party B If no heir or legal representative claims relevant rights within the day;
3. When the collateral price fluctuates drastically and a "closed position" occurs, this contract will terminate automatically.
Article 8 - Digital Asset Price Determination Clauses
1. Due to the high price fluctuation risk of digital assets, the parties agree to set digital asset price determination clauses as follows:
1.1. The digital asset exchange rate against US dollars announced on the BigONE official website or its App shall prevail.
1.2. If there are clear exchange rules between the loan currency and the collateral digital assets, the exchange ratio of digital assets announced on the BigONE official website or its App shall prevail.
Article 9 - Rights and obligations of Party A
1. Issue loan currency to Party B on time;
2. Have the right to collect Party B's evasion of Party A's supervision, default on loan currency principal or other serious breach of contract;
3. Have the right to collect interest from Party B in accordance with the provisions of this contract;
4. Both parties guarantee that there will be no other circumstances or events that have or may have a significant adverse impact on the performance of the parties, including but not limited to the theft of the digital assets, the damage and loss of the goods due to the failure to properly preserve the goods, etc. If the above matters cause one party to be unable to perform the contract, all responsibilities and losses shall be borne by the party itself;
5. Party A shall keep Party B's personal information, including identity information, contact information, bank information, etc. confidential and shall not disseminate such information in any form.
6. If Party B returns the digital assets in accordance with the provisions of this contract, Party A irrevocably authorizes BigONE to deliver the digital assets pledged by Party B to Party B.
Article 10 - Rights and Obligations of Party B
1. The pledged property kept by Party B in BigONE is the digital asset legally owned by Party B. Otherwise, any liability arising therefrom, including but not limited to all losses caused by freezing, seizure, restriction of use of the pledged property due to ownership disputes, shall be borne by Party B;
2. Return the digital assets and pay interest to Party A on time as agreed in this contract;
3. Transfer the pledged property to BigONE as agreed in the contract;
4. Party B shall keep confidential Party A's personal information, including identity information, contact information, bank information, etc., and shall not disseminate such information in any form.
5. Without the written consent of Party A, the Borrower shall not transfer its rights and obligations under this Contract to a third party;
6. Bear the relevant expenses incurred in the conclusion and performance of this Contract, including but not limited to notarization, appraisal, evaluation, registration, insurance, guarantee and expenses incurred by Party A to realize the creditor's rights, including but not limited to the fees for the notary office to issue the execution certificate, litigation fees, attorney fees, etc.;
7. If any other event occurs that has a significant adverse impact on its performance of the repayment obligation under this Contract, including but not limited to Party B's major accident, major illness, major economic dispute, bankruptcy, deterioration of financial status, compulsory measures, and restriction of rights If the lender loses interest, loses contact, etc., the lender shall be notified in writing immediately;
Article 11 - Commitment and Guarantee
1. Both parties guarantee that they have the qualifications and rights to sign and execute this contract;
2. Both parties guarantee to perform their obligations under this contract in a timely manner;
3. Both parties guarantee that the loan currency and pledged assets in this contract are legally obtained and there is no dispute over ownership;
4. Party B guarantees that the digital assets pledged this time shall not lose the ability to perform due to other litigation, preservation, mortgage, judicial freezing, compulsory execution and other events, otherwise it shall be deemed that the party has breached the contract and bears all responsibilities;
5. Both parties guarantee that all information provided is true, complete and accurate on the day the information is provided.
Article 12 Contract Changes and Supplements
1. Both parties shall not change or terminate the contract without authorization. If it is necessary to change or terminate, it must be agreed upon by both parties and a written contract must be reached;
2. The supplementary contract signed by both parties after consultation shall have the same legal effect as this contract.
Article 13 - Liability for Breach of Contract
1. If Party A fails to lend digital assets to Party B in the quantity and period specified in this Contract without justifiable reasons, it shall be deemed as a breach of contract by Party A. Party B has the right to require Party A to perform the contract. If Party A refuses to perform the contract, Party B has the right to terminate the contract. If Party B has suffered losses due to the signing of this contract, Party B has the right to seek compensation;
2. If Party B fails to transfer the collateral to BigONE within the time agreed in this Contract without justifiable reasons, if the extension is within 1 day, the time for Party A to transfer the loaned property to Party B shall be postponed; if the extension exceeds 1 day, it shall be deemed as a breach of contract by Party B and this Contract shall be automatically terminated. If Party A suffers losses due to Party B’s breach of contract, Party A has the right to seek compensation;
3. If Party B fails to return the borrowed property to Party A within the time agreed in this Contract, Party B shall lose the right to request the return of the collateral under this Contract;
4. For the contractual obligations that the breaching party has not fully performed, the abiding party may require the breaching party to continue to perform;
5. Both parties shall properly exercise their rights and perform their obligations to ensure the smooth performance of this Contract. If any party violates the obligations under this contract, the agreement shall prevail if there is a clear agreement. If there is no clear agreement, the breaching party shall compensate the abiding party for all losses (including but not limited to interest losses, attorney fees, litigation fees, preservation fees, notarization fees, travel expenses, etc.);
6. If any party is missing, missing or dead, is in a state of limited civil capacity or loss of civil capacity, suffers a major disease, accident, is involved in a major legal dispute, is subject to compulsory measures, or has a major change in performance capacity, etc., which affects the performance of one party's obligations under this contract, the other party has the right to terminate this contract. If such an event occurs to Party B, Party A may require Party B to repay the currency in advance in accordance with Article 7; if such an event occurs to Party A, Party B still needs to fulfill the obligation to repay the currency, but Party A should compensate Party B for the actual losses incurred.
Article 14 - Force Majeure
1. During the performance of this Contract, if force majeure occurs (such as digital assets cannot be circulated, exchanged, traded normally, etc., which are external environmental matters that both parties cannot foresee, cannot avoid, and both parties agree that there is no alternative solution), resulting in the inability to perform this Contract in whole or in part, the party experiencing force majeure shall submit a written notice to the other party within 2 days of the occurrence of such event, and this Contract shall be terminated by negotiation between the two parties.
2. The party that cannot perform the Contract in part or in whole due to force majeure shall not be liable for breach of contract, but shall return the digital assets delivered by the other party.
Article 15 - Confidentiality
1. After the signing of this Contract, unless the other party agrees in writing in advance, both parties to this Contract shall bear the following confidentiality obligations:
(1) Neither party shall disclose this Contract and any documents, materials or information related to this Contract or such matters ("Confidential Information") to any party other than this Contract;
(2) Neither party shall use the Confidential Information and its contents only for the purposes of this Contract and not for any other purpose.
2. The parties to this contract shall not be subject to the restrictions of the preceding paragraph if they disclose confidential information for the following reasons:
(1) Disclosure to the directors, supervisors, senior management and employees of the parties to this contract and their hired accountants, lawyers and consulting companies;
(2) Disclosure in compliance with the mandatory provisions of applicable laws and regulations;
(3) Disclosure to the approval agency or authority in accordance with other laws and regulations that should be complied with.
3. Both parties to this contract shall take all other necessary, appropriate and feasible measures to ensure the confidentiality of confidential information.
4. Both parties to this contract shall urge the persons to whom they disclose confidential information to strictly abide by the provisions of this article.
5. The rights and obligations of both parties to this contract under this article shall continue to be valid after the termination or expiration of this contract.
Article 16 - Dispute Resolution
1. This contract shall be subject to the relevant laws of the local country.
2. In the event of any dispute during the performance of this contract, both parties shall conduct friendly negotiations. If no agreement is reached through negotiations, both parties shall submit the dispute to the arbitration center for arbitration in accordance with its arbitration rules. The arbitration award shall be final and binding on both parties. The arbitration costs shall be borne by the losing party.
Article 17 - Contract Termination
1. This contract will automatically terminate after both parties fulfill their obligations to repay the currency and return the collateral;
2. If the early repayment of currency occurs and both parties have completed all their respective obligations in the early repayment of currency, this contract will be deemed to be terminated;
3. If the termination of this contract occurs, this contract will be deemed to be terminated when it is terminated.
Article 18 - Supplementary Provisions
1. This agreement shall be established on the date of signing and confirmation by Party A and Party B. If there is no clear provision in the applicable laws and regulations, this agreement shall take effect from the date of establishment; if there is a clear provision in the applicable laws and regulations, it shall take effect on the date when the conditions required by such provisions are met.
2. For a better user experience, Party B is aware that this loan contract version will be updated accordingly due to the adjustment of Party A's loan rules or the launch of new loan functions. Party B confirms that when it uses Party A's adjusted loan rules or new loan functions, it shall be deemed to automatically accept all the terms in the updated loan agreement, and the loan agreement signed with Party A shall be deemed to be automatically invalid, and the updated loan agreement shall automatically take effect after signing.
3. When Party B confirms this Agreement by clicking the button indicating the desire to sign this Agreement online (for example, the button has "Join" or "Agree" or similar words, and the page also lists the content of this Agreement or a link that can effectively display the content of this Agreement) or other methods agreed by both parties in accordance with the BigONE platform rules, it shall be deemed that it has effectively signed this Agreement. For the purpose of this Agreement, Party B confirms that the previous online clicks or confirmations carried out through its registered account on the BigONE platform can be regarded as its true expression of its own intention and are legally binding on it.
4. If the terms under this Agreement are deemed to be illegal, invalid or unenforceable in accordance with applicable laws and regulations, it will not affect the legality, validity or enforceability of other terms of this Agreement.
5. For matters not covered by this Agreement, the parties may sign a supplementary agreement. The supplementary agreement is an integral part of this Agreement and has the same effect as this Agreement.
6. This Agreement is made in two copies, one for each party, and each copy has the same legal effect.
Party A: BigONE
Party B:
Authorization for the Disposal of Collateral
Important Tips:
This "Authorization for the Disposal of Collateral" (hereinafter referred to as "this Authorization") shall be signed by you (as the "borrower" and "pledgor" under this Authorization, and may be referred to as "I" in this Authorization) and issued to the lender and pledgee under this Authorization, and shall apply to the lending business provided by BigONE. In order to protect your legal rights and interests, please be sure to carefully read and fully understand all the terms of this authorization, especially the terms that exempt or reduce the liability of the pledgee, or restrict your rights, among which the exemption or reduction of liability terms may be in bold to remind you. If you agree to this Authorization, or you continue to perform subsequent operations related to this Authorization (including but not limited to login, use, etc.), it means that you have fully read, understood and accepted all the contents of this Authorization. Otherwise, you have no right to perform subsequent operations, nor have the right to use the lending business provided by BigONE. If you do not accept the terms of this authorization, please stop using the relevant business
To the Pledgee (hereinafter referred to as the "Lender" or "Pledgee"):
Where:
I (or the "Author") have signed a "Loan Contract" with the Lender, which has clarified the respective rights and obligations of myself and the Lender in this loan. According to the provisions of the "Loan Contract", I pledge my digital assets as collateral to the Lender, and BigONE will be the custodian of the collateral. The Lender is the pledgee of the collateral.
I now agree and irrevocably make the following authorization and statement:
1. I irrevocably agree and authorize that during the period of the pledge, the Pledgee can dispose of the above-mentioned collateral by means including but not limited to use, lease, disposal, mortgage, secondary pledge, etc.
2. I irrevocably agree and authorize that during the period of the pledge, the pledgee can sign relevant leasing, disposal, mortgage, and pledge contracts and handle relevant procedures for the pledged property in order to use, lease, dispose, mortgage, and re-pledge the pledged property.
3. I irrevocably agree and promise that during the period of the pledge, I will cooperate with the pledgee to sign documents, provide information, and handle procedures according to the pledgee's requirements so that the pledgee can use, lease, dispose, mortgage, and re-pledge the pledged property.
4. I irrevocably agree and authorize that during the period of the pledge, the pledgee and its authorized representative have the right to choose any custodian of the pledged property according to their free will and have the right to transfer the pledged property. The pledgee and its authorized representative or its designated third-party custodian manages the pledged property according to the specific nature and circumstances of the pledged property. If the pledged property is not damaged or lost due to intentional or gross negligence by the pledgee, its authorized representative or designated personnel, such personnel shall not bear liability for compensation.
V. I irrevocably agree and authorize that if the pledgee encounters risks or disputes in the disposal of the pledged property by means of use, disposal, leasing, mortgage, secondary pledge, etc., the pledgee has the right to defend its rights in its own name, including but not limited to issuing collection letters, filing arbitration, litigation, property preservation, etc. I promise to provide necessary assistance.
Authorizer Statement:
This authorization is a unilateral commitment made by me to the [Pledgee], and its effectiveness is independent and will not be invalidated due to the invalidity of any other terms (including but not limited to the terms in the "Loan Agreement").
The validity period of this authorization is: from the date I make this authorization commitment to the date when all my debts and expenses under the "Loan Agreement" (including but not limited to principal, interest, penalty interest, liquidated damages, compensation, related taxes, etc.) are fully repaid.
If I have any disputes or disputes with the above-mentioned pledgee due to this authorization, the two parties shall first resolve them through friendly negotiation; if the negotiation fails, I agree to submit the dispute to a competent arbitration institution as mutually agreed upon by both parties.
I am aware of and understand the meaning of all the terms in this authorization (especially the bold parts) and the legal effect arising therefrom, and I voluntarily make the above authorization. The contents of this authorization are my true intentions and I am willing to bear all legal consequences arising therefrom. This authorization will take effect after I sign it online by clicking and confirming on the platform operated by BigONE.
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