Okcoin Earn Service Terms – Okcoin Help Center

THIS PARAGRAPH CONTAINS AN IMPORTANT NOTICE. PLEASE READ IT CAREFULLY. SECTION 15 OF THIS DOCUMENT REQUIRES ARBITRATION ON AN INDIVIDUAL BASIS.

Last updated: September 22, 2022

General
1. Thank you for visiting Okcoin.com or the Okcoin app (jointly hereafter the “Site”). These Earn Service Terms (this “Agreement”) govern your use of the Earn Service (the “Service”) and are entered into by and between you (acting in your capacity as an employee or other representative of your company or other entity, if applicable) (“you” or “your”) and one of the following entities (“Okcoin”, “we”, “us”, or “our”) depending on your jurisdiction:
  - OKCoin USA Inc., a U.S. Delaware corporation, if you are a U.S. or Canadian resident in one of our operating states or provinces;
  - OKCoin Europe LTD, a Malta limited liability company, if you are a resident of one of the European Union member states or the United Kingdom;
  - OKCoin Pte Ltd, a Singapore limited liability company, if you are a resident of Singapore or Brunei who registered on or after 15 October 2019; or
  - OKCoin Technology Company Limited, a Hong Kong registered corporation, if you are a resident of any other approved country that is not specifically listed above.
2. The Service is only available to users who meet the eligibility requirements under Okcoin’s Terms of Service, available here (“TOS”) and in this Agreement and may not be available to users in all jurisdictions. As further discussed in Section 1.6, Okcoin’s Terms of Service also apply to your use of the Service. The Service allows eligible users to earn compensation by submitting or subjecting their digital assets to certain Third Party Platforms.
3. By using this Service or through other affirmative actions, you agree that you have read, understood and accepted this Agreement and the relevant transaction and operational rules in connection with this Service, and that you agree to be legally bound by these terms and conditions.
4. Okcoin reserves the right to change or modify the Agreement at any time, at its sole discretion, and will provide notice of such changes by posting the revised Agreement on the Site and changing the "Last Updated" date therein. The revised Agreement will become effective after we post the revised Agreement on the Site. Your continued use of or access to the Service following the posting of any changes constitutes your acceptance of those changes. If you do not accept the revised Agreement, you will stop using the Service. Please also carefully read all terms of service, privacy policies and relevant transaction and operation rules (as amended from time to time) published on or by the Third Party Platforms. Use of this Service is only allowed after you have read, understood, and agreed to all the relevant rules.
5. The value of digital assets may fluctuate significantly and there is risk of significant economic loss when buying, selling, holding, or investing in digital assets and engaging in their related transactions. Your use of the Service means that you confirm and agree that: (1) you understand the risks associated with digital assets and their related transactions; (2) you shall bear all risks and losses associated with the use of this Service and engaging in transactions involving digital assets; and (3) Okcoin shall not be responsible for any such risks, losses, or adverse consequences you may incur. Please see Section 3 for a more detailed risk disclosure.
6. This Agreement is hereby incorporated into Okcoin's TOS and made a part thereof. In the event of a conflict between this Agreement and Okcoin’s TOS, the contents of this Agreement shall take precedence and control only for the Service. Unless otherwise provided in this Agreement, the terms used in this Agreement shall have the meaning provided in Okcoin's TOS. Except as expressly amended or modified by this Agreement, all terms, covenants, and provisions of Okcoin's TOS are and shall remain in full force and effect, and all references therein to such TOS shall refer to Okcoin's TOS as modified by this Agreement.
Definitions
1. “Compensation”: means the amounts earned by a user as a result of using the Service, which shall include any and all Interest and Rewards.
2. “Third Party Platform(s)”: means independent third party platforms that offer services to allow users to provide their digital assets to the respective protocols of those Third Party Platforms, while earning Compensation through the Service.
3. “Interest”: means the interest accrued on the Principal (as defined below), as calculated and payable by the Third Party Platforms.
4. “Principal”: means the original amount of the digital assets submitted to the Third Party Platforms by a user, on which the users may earn Interest and Rewards (as defined below).
5. “Rewards”: means the incentive compensation that the Third Party Platform may distribute for use of the Third Party Platform, in addition to Interest.
Risk Disclosures
1. You understand and accept the following risks that may arise and the related losses you may incur from using the Service, including, without limitation:
  1. The inability to access, trade or withdraw the Principal that is submitted to (or is subject to) the Third Party Platforms due to your use of this Service.
  2. Okcoin shall not be responsible for any loss associated with the Principal or your assets when used in connection with any Third Party Platform, including, but not limited to, when your Principal or assets are submitted to any Third Party Platforms in accordance with this Agreement. You may have exposure to risks on the Third Party Platforms which may result in losses;
  3. Digital assets and their derivatives are subject to high risk, high price fluctuations, can result in significant losses in a short period of time, and can become worthless;
  4. Technical anomalies may occur, which may delay or prevent you from using the Service or performing related transactions, resulting in losses; and
  5. Market anomalies and unforeseen events may occur, which may result in losses.
2. Compensation is determined solely by the applicable Third Party Platform and may change at any time without notice. The fluctuation of Compensation may cause losses to you, and Okcoin shall not be liable for any such losses.
3. You hereby represent and warrant that you have the necessary experience and knowledge to use the Service and understand and acknowledge the potential risks of using digital asset products. You should carefully consider and evaluate your financial condition along with the above-mentioned risks before making any decision to use this Service.
4. The Service acts primarily as an operational link to Third Party Platforms. Okcoin therefore does not set or have control over Compensation, Interest, or Rewards. Okcoin relies on the Third Party Platforms for determining the applicable Compensation. You acknowledge that Okcoin may suspend or discontinue the Service at any time with no liability to you.
5. Okcoin shall not be responsible for any losses incurred as a result of smart contract vulnerabilities, hacking incidents, suspension, discontinuation, or termination of business, bankruptcy, abnormal suspension or cessation of trading of Third Party Platforms or project sponsors or other potential risks. You agree to bear all the relevant risks associated with the Third Party Platforms and all the losses you may incur as a result of the abovementioned risks. If you incur any loss as a result of the occurrence of the abovementioned risks, you agree that the corresponding funds you lost in your account shall be forfeited to the extent of the damage or loss so caused.
6. Okcoin shall not be liable for any losses caused by the risks described in this section (including but not limited to any direct or indirect losses, or possible loss of profits).
7. The Service is not a regulated activity in Malta or under the jurisdiction of the Malta Financial Services Authority (“MFSA”), nor is the Service regulated under any other jurisdiction. The Third Party Platforms are neither regulated as financial institutions, nor regulated as credit institutions. As a result, such Third Party Platforms may not be participants to any compensation scheme, as a result of which there may not be any compensation schemes in place when users utilize these Third Party Platforms to participate in this Service.
Submissions and Redemptions
1. You may choose the type(s) of digital assets to participate in the Service. The Principal, as well as estimated Interest and Rewards, may be available for you to review through the Service’s order management tool.
2. After Okcoin receives one or more orders from you for submission in connection with the Service, Okcoin will make submissions of Principal to the respective Third Party Platforms within a reasonable time after receiving your orders, generally within 24 to 48 hours (“Submission”). You acknowledge and agree that the Principal will only begin to earn Compensation after the applicable Submission is completed successfully. After you place an order for a Submission, the Principal and any Compensation will be frozen in your account and unable to be withdrawn until redeemed under Section 4.3; except that Rewards may be distributed to your Okcoin account prior to redemption and available for subsequent withdrawal.
3. After Okcoin receives redemption instructions from you in connection with the Service, Okcoin will initiate redemptions of your instructed amounts, including any Principal and Compensation if applicable, from the respective Third Party Platforms within a reasonable time after receiving such redemption instructions, generally within 24 to 48 hours, and reflect such redemptions on your account on the Site (“Redemption”). Interest accrued will be calculated through the time the applicable Redemption is completed successfully. You acknowledge and agree that after you place any redemption instruction, the Principal may have a status of “being redeemed”, and will not be available for withdrawal or trading until it is successfully redeemed by Okcoin.
4. You acknowledge and agree that the actual completion time of Submissions and Redemptions may be subject to change or delay due to operations of the protocols of the applicable networks or Third Party Platforms. You further acknowledge and agree that Okcoin shall have no liability for any delay or failure of any Submission or Redemption in connection with or as a result of the operations of the protocols of the applicable network or Third Party Platform, a malfunction in the operation of the applicable Third Party Platforms, downtime or disruptions of Okcoin’s service providers, or any other reasons that are beyond Okcoin’s control.
Interest and Rewards
1. 1. The Interest and Rewards earned by you are determined by and subject to the rules of the applicable Third Party Platforms, which may be changed or modified by such Third Party Platforms in their sole discretion. Okcoin has no control over, nor will Okcoin be liable for, any change made by any Third Party Platforms.
  2. The Site and Service may set forth certain Interest and Rewards amounts associated with the Third Party Platforms, and Okcoin will use reasonable efforts to update those amounts to maintain their accuracy. However, Okcoin has no obligation to update such amounts at any particular frequency. You acknowledge that such amounts may be inaccurate or out of date. For example, some Third Party Platforms do not disclose Interest or Rewards until redemption. Please refer to the Okcoin Earn Service product page on the Site for additional Interest and Rewards information for each Third Party Platform.
Fees
1. Third Party Platforms may charge you gas, transaction, administrative, or other fees at the time of Submission, Redemption, or other transaction in connection with the Third Party Platform, which may be based on the amount of digital assets subject to the transaction. Okcoin has no control over nor will it be liable for such fees charged by the Third Party Platforms. Please refer to the Third Party Platform’s website for details regarding the specific fees they charge.
2. You hereby agree and authorize Okcoin to, without notice to you, deduct or charge you any fees charged by the Third Party Platforms from your Principal and Compensation before reflecting the redeemed Principal and final Compensation into your account.
3. You acknowledge and agree that the Compensation, Interest, and Rewards displayed on the Okcoin Site are estimated amounts and for reference only. The final Compensation you receive may vary and change over time and may be lower than the expected Compensation, which is subject to deductions as set forth in this Section 6. Okcoin makes no guarantee or promise to the actual and final Compensation that you may receive. Please refer to the applicable Third Party Platform’s website for details regarding the current Compensation for each digital asset.
Representations and Warranties
1. You represent and warrant that you are an eligible user and are otherwise eligible and allowed to use the Service as set forth in this Agreement and in the Okcoin TOS.
2. NO WARRANTY: THE SERVICE IS PROVIDED TO YOU ON A STRICTLY “AS IS”, “WHERE IS” AND “WHERE AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS AND REGULATIONS, OKCOIN SPECIFICALLY DISCLAIMS ANY WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO UNINTERRUPTED OR CONTINUOUS AVAILABILITY OF THE SERVICE, IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND/OR NON-INFRINGEMENT. OKCOIN DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SITE, ANY PART OF THE SERVICE, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE, AND THAT THERE ARE NO VIRUSES OR OTHER HARMFUL COMPONENTS ON THE SERVICE. OKCOIN DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS SET FORTH IN THESE TERMS, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR UNDERSTANDING, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE OKCOIN SERVICE AND OKCOIN SITE. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT OKCOIN WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF COMPENSATION, INTEREST, OR REWARDS DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, OR (C) INTERRUPTION IN ANY SUCH DATA.
Limitation of Liabilities
1. DESPITE ANYTHING ELSE IN THIS AGREEMENT AND THE TOS, IF AN APPLICABLE LAW IMPOSES A LIABILITY ON OKCOIN WHICH CANNOT BE EXCLUDED, BUT PERMITS LIMITATION OF THAT LIABILITY, OKCOIN’S LIABILITY IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW. NOTHING IN THIS AGREEMENT EXCLUDES THE LIABILITY OF OKCOIN FOR ITS FRAUD OR FOR ANY OTHER LIABILITY WHICH BY LAW CANNOT BE EXCLUDED. SUBJECT TO THIS CLAUSE AND THE LAW, IN NO EVENT WILL OKCOIN, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF ITS OR THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE TO YOU (A) FOR ANY AND ALL CLAIMS ARISING OUT OF THIS AGREEMENT IN THE AGGREGATE, FOR ANY AMOUNT GREATER THAN $100 US DOLLARS OR (B) FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SERVICE, OR THIS AGREEMENT, EVEN IF AN AUTHORIZED REPRESENTATIVE OF OKCOIN HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
2. IF THE JURISDICTION OF THE PARTY DOES NOT ALLOW FOR THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU.
Third Party Platform Default
1. Okcoin acts solely as an interface provider for the Service by facilitating your participation in the Third Party Platforms. The Service submits Principal to Third Party Platforms, and such submissions of Principal cannot be reversed by Okcoin at its own discretion or at your direction. Okcoin does not insure, indemnify, or otherwise guarantee the return of your Principal that has been submitted to a Third Party Platform.
2. Your counterparty in this Service is a Third Party Platform, and you alone bear the risk of loss of your Principal should a Third Party Platform default. Your remedies in the event of a Third Party Platform default will be determined by such Third Party Platform’s terms of service, and the applicable transaction and operation rules. These remedies may be limited or, in some cases, unavailable in the event of a Third Party Platform default. If the Third Party Platform does not return the Principal, it may not be possible to recover the assets from the Third Party Platform, and Okcoin shall have no obligation to pursue such recovery on your behalf.
Indemnification
1. You hereby agree to defend, indemnify and hold Okcoin and its affiliates, and each of its or their respective employees, officers, directors, affiliates, subsidiaries, contractors, agents and successors harmless from any third party claims or demands (including reasonable legal fees) arising from or arising out of your breach of this Agreement, your use of the Service, your violation of any laws or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your Okcoin account or access our website, software, system (including any network and servers used to provide any of the Service) operated by us or on our behalf, or any of the Services on your behalf.
Account Closure
1. 1. You agree and accept that Okcoin strictly prohibits unfair trading practices. Okcoin reserves the right to monitor your account or close your account if you perform, of if Okcoin reasonably believes that you performed or may have performed, the following actions:
    1. Price manipulation or any other malicious market behaviors;
    2. Fraud, money laundering or other types of activities that are deemed risky to Okcoin;
    3. Harming other users or Okcoin through any unintended use of the Service or other means, as determined in Okcoin’s sole discretion;
    4. Participation in any activities that Okcoin regards, in its sole discretion, as harmful to the market;
    5. Malicious, manipulative, or abusive use of the Service, a violation of this Agreement or Okcoin’s TOS, and/or any other behavior or methods utilized to gain an unfair advantage, as determined at our sole discretion; or
    6. Violation of applicable laws and regulations.
  2. In order to eliminate any adverse effects on the overall market, Okcoin reserves the right to take appropriate measures at its sole discretion, including but not limited to, the closing down of your account and restricting or canceling your orders. You understand and agree that Okcoin shall not be liable for any losses (including but not limited to any direct or indirect losses, or losses of possible profits) incurred by you in connection with the above measures.
No Investment, Financial or Tax Advice
1. You acknowledge and agree that Okcoin is not your broker, dealer, agent, or consultant. In any transaction or other activity for which you use Okcoin’s Service, you understand and agree that Okcoin holds no fiduciary duty to you to act for your benefit or otherwise. Any communication or information provided by Okcoin to you shall not be considered or interpreted as investment advice, financial advice, trading advice, or any other type of advice. You alone shall determine whether any investment, investment strategy, or related transaction is appropriate for you based on your own personal investment objectives, financial condition, and risk tolerance, and you alone shall be responsible for any and all losses or liabilities that result therefrom. We suggest you consult a legal or tax professional for advice regarding your specific situation. Okcoin does not make any recommendations to buy, acquire, sell or hold any digital assets. Before deciding to buy, sell, or hold any digital assets, we suggest you conduct your own due diligence and consult your own financial advisor before making any investment decisions. Okcoin shall not be responsible for your decision to buy, sell, or hold digital assets based on any information provided by Okcoin.
Third Party Website Disclaimer
1. Any links to third party websites or Third Party Platforms in Okcoin’s services does not mean that Okcoin endorses any products, services, information, or disclaimers provided therein, and Okcoin does not guarantee the accuracy of the information contained therein. Okcoin shall not be liable for any losses caused by your use of such third party products and services or Third Party Platform. In addition, since Okcoin has no control over the terms of use or privacy policies of third party websites, once you use a Third Party Platform through the Service, you will be deemed to understand and agree to all of the terms of service, privacy policy and relevant transaction and operation rules (as may be amended from time to time) for the Third Party Platform and other relevant third party websites. Furthermore, you understand and agree that Okcoin does NOT support, operate or endorse any Third Party Platforms. Okcoin and each of the Third Party Platforms are independent legal entities, and this Agreement shall not constitute any form of agency, partnership or cooperative relationship between the parties. Okcoin and each Third Party Platform shall be responsible for their respective claims, debts, and disputes arising from the performance of their respective contracts and agreements.
Applicable Law and Venue
1. For clarity, this section incorporates by reference the “Applicable Law and Venue” section or substantially similar section of Okcoin’s TOS.
Dispute Resolution
1. For clarity, this section incorporates by reference the “Dispute Resolution” section or substantially similar section of Okcoin’s TOS, including, but not limited to, the TOS’s arbitration provision.
Miscellaneous
1. The contents of this Agreement also include Okcoin's various system specifications, other agreements or rules in connection with this Agreement, and other relevant agreements and rules regarding the Service that Okcoin may issue from time to time, in each case to the extent referenced in this Agreement. Once such content is officially released, it constitutes an integral part of this Agreement, and you are required to abide by it. In the event of any conflicts between such content and this Agreement, this Agreement shall prevail.
2. Neither the failure nor any delay by Okcoin in exercising any right or remedy under this Agreement shall operate as a waiver thereof. No single or partial exercise of any such right or remedy shall preclude any other or further exercise of the same, or the exercise of any other right or remedy.
3. If at any time, under any laws of any jurisdictions, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the other provisions or the legality, validity or enforceability of other provisions under the laws of other jurisdictions is not affected or impaired.
4. This Agreement may be posted in various languages. If there are any discrepancies, the English version shall prevail.

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