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Simple Earn User Agreement

1. Overview​

1.1 The Simple Earn service ("Service") is provided by BitFi, allowing users to earn rewards by depositing digital assets for fixed or flexible terms. These terms govern the Service. Bitlayer solely integrates BitFi’s function call interfaces and facilitates data synchronization and display. Bitlayer is not a service provider and does not hold or control any user assets. All services, including fund custody, yield generation, and redemption, are provided solely by BitFi.

1.2 By using the Service, you agree to these terms and confirm that you have read and accepted them.

1.3 In case of conflict between this agreement and BitFi's general Terms of Service, this agreement shall prevail.

2. General Terms​

2.1 The Service enables users to earn rewards by depositing assets. Subscription and redemption are available year-round, but fixed-term deposits cannot be redeemed early.

2.2 Key Definitions:

  • Insurance Fund: Protects users during extreme market fluctuations.
  • Principal: The amount of digital assets deposited by the user.
  • Rewards: Earnings generated from deposited assets.
  • Subscription: Depositing assets to open a position.
  • Redemption: Closing a position and withdrawing assets.

3. Eligibility​

3.1 You authorize BitFi to manage your assets during the Service period.

3.2 You confirm compliance with applicable laws and will not use the Service for illicit activities such as fraud or money laundering.

3.3 You acknowledge and accept market risks, liquidity constraints, and the potential risk of principal loss.

4. Service Usage​

4.1 Users can subscribe and redeem through the BitFi platform.

4.2 Subscriptions can be flexible or fixed-term. Fixed-term deposits cannot be redeemed early.

4.3 Flexible-term: Withdraw anytime.

4.4 Fixed-term: Locked until maturity.

4.5 Rewards are calculated and displayed hourly by BitFi. The final distribution of actual returns is solely determined and managed by BitFi and may take 1 to 3 months depending on asset strategies or other operational considerations. Bitlayer does not participate in the reward calculation or distribution process.

4.6 Redemptions may be delayed due to liquidity or market conditions.

4.7 BitFi deducts an insurance fund fee from flexible-term users' earnings.

4.8 BitFi reserves the right to adjust subscription and redemption limits at any time.

5. Suspension / Cancellation / Termination​

5.1 BitFi may suspend, cancel, or terminate the Service at its sole discretion. This may occur if:

  • You fail to provide requested identity or fund source verification.
  • Required by law, court order, or government directive.
  • Information you provided is false, outdated, or incomplete.

6. Liabilities​

6.1 BitFi is not liable for any losses due to:

  • Service failures, delays, interruptions, or liquidity issues.
  • System maintenance or data transmission failures.
  • Force majeure events (e.g., natural disasters, war, government actions).
  • Cyberattacks, technical issues, or regulatory changes.

6.2 BitFi reserves the right to refuse or cancel transactions.

6.3 You accept full responsibility for any losses resulting from risks outlined in this agreement.

6.4 You acknowledge that the Service is not capital protected, and that BitFi does not guarantee any specific returns. Past performance is not indicative of future results.

6.5 You are solely responsible for complying with all applicable tax laws in relation to your use of the Service, including any obligations to report, declare, or pay taxes on rewards or income earned. BitFi and Bitlayer do not provide tax advice and shall not be held liable for any tax liabilities incurred by you.

7. Technology Disclaimers​

7.1 BitFi may suspend access for maintenance and does not guarantee transaction processing times.

7.2 BitFi does not guarantee the accuracy or completeness of platform information.

7.3 You are responsible for ensuring compatible network access and devices.

7.4 Despite security efforts, risks such as hacking and data loss exist, and you assume responsibility.

7.5 BitFi may modify technology, features, or requirements based on advancements or regulations.

8. Mandatory Measures​

BitFi strictly prohibits unfair trading practices, including:

  • Market manipulation, insider trading, or other harmful activities.
  • Violations of applicable laws.

BitFi may restrict, suspend, or terminate your account if you engage in these activities, without liability for resulting losses.

9. Indemnification​

9.1 You must take all necessary measures to prevent harm to BitFi.

9.2 You agree to indemnify and hold BitFi and its affiliates harmless from any claims, losses, or legal expenses arising from your use of the Service.

10. Miscellaneous​

10.1 This agreement includes all BitFi policies and guidelines, which take precedence in case of conflict.

10.2 BitFi may modify this agreement at any time without prior notice. Continued use constitutes acceptance.

10.3 In case of translation discrepancies, the English version prevails.

10.4 If any provision is deemed invalid, the remaining terms remain enforceable.

10.5 BitFi’s failure to enforce any provision does not waive its rights.

10.6 This agreement is governed by the laws of British Virgin Islands.

10.7 Disputes shall be resolved through arbitration at the BVI International Arbitration Centre (BVI IAC).

10.8 You may not transfer this agreement without BitFi’s written consent. BitFi may transfer its rights by notifying you.