Hotcoin Loan Service Agreement

This Hotcoin Loan Service Agreement (the “Agreement”) constitutes part of the Hotcoin Terms of Use (the “Terms of Use”). Unless otherwise provided herein, the terms used herein shall have the meanings specified in the Terms of Use and matters not expressly stipulated herein shall be subject to the provisions in the Terms of Use.

The Agreement is a contract made and entered into by and between Hotcoin operators and users on matters such as Hotcoin’s provision of loan service to users (the “Service”) and charging of corresponding fees. Hotcoin offers the Service to address Users’ need for holding and using a specific digital currency and other digital assets and it requires users to provide corresponding digital asset margins (the “pledged asset”) as the prerequisite for the loan. For convenience, “we” hereinafter refers to Hotcoin and operators of Hotcoin, and “you” refers to an individual user who utilizes the Service and enters into the Agreement. Anyone located in countries such as Iraq, Iran, North Korea, Syria, Cuba, Crimea, the United States and its territories (including American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the United States Virgin Islands) is prohibited from using the Services offered by this website.

Please read the Agreement in its entirety carefully and use the Service only after you have fully read and understood it in its entirety. Your continually use of any service provided by the Hotcoin platform or click on the “Confirm”/“Agree”button means that you know, understand, and agree to all terms hereof and all & relevant terms of the Terms of Use, including any modification and update to the Agreement made by us at any time.

1. Significant Risk Warning:

1.1 There will be high transaction risks for you when you use the Service. To help you better understand related risks, please read the following risk warning carefully：

1.1.1 The digital assets are not issued by any financial institution or company or by us；

1.1.2 The digital asset market is a brand new and unconfirmed market，and may not continue to grow；

1.1.3 Trading in digital assets carries high risks. The transactions are uninterrupted around the clock, there is no limit on gains or losses, and the prices are susceptible to significant fluctuations due to the influence of market makers, speculators, and government policies of countries；

1.1.4 If you violate the Agreement according to our unilateral judgment, or the Service or if your use of the Service is illegal under the laws and regulations of your jurisdiction, we shall have the right to suspend or terminate your use of the Service or related digital asset transactions / “Margin Account ”at any time, and all risks, losses, or consequences caused by the above factors shall be borne by you independently.

1.2 Your use of the Service is deemed to be your confirmation and consent：

1.2.1 You shall understand and agree that the investment and transaction of digital assets may lead to partial or total loss, so you should determine the amount of investment and currency borrowing based on the degree of losses you can bear；

1.2.2 You shall understand and agree that digital assets will generate derivative risks, so if you have any questions, you should first seeking the assistance of professionals；

1.2.3 You shall understand and agree that in addition to the risks mentioned above, there are risks that are not foreseen；

1.2.4 You shall make any decision to use the Service with careful consideration and clear judgment to assess your own financial situation and the risks mentioned above, and bear all losses arising therefrom；

1.2.5 You understood and agreed that，We have the right to manage your margin account and your guaranteed assets in full power during the provision of the Services, and we have the right (but not the obligation) to take compulsory liquidation measures under certain circumstances, such measures may cause you significant losses；

1.2.6 To the fullest extent permitted by law，We shall not be liable for the above risks and any other risks not caused by our gross negligence, including but not limited to technical obstacles that are difficult to avoid or overcome.

1. Terms of Use of the Service

Using the Service means that you have read and agreed to the following Terms of Use of the Service:

2.1 Opening and Managing the Margin Account

2.1.1 Verification: Before using the Service, you shall meet the qualified user conditions specified in the Terms of Use and reasonable conditions that we separately require you to satisfy in accordance with relevant laws (including but not limited to global or regional standards or policies about know your customer, anti-money laundering, and counter-terrorism financing), and complete any verification process required by us. The information which may need to be provided includes but is not limited to your name, telephone number, e-mail account, identity certificate, other social media account numbers, and certificates of digital asset sources. Apart from providing such information, you shall agree to authorize us to inquire about such information and your other related information directly or indirectly (through a third party) in order to verify related contents. The Service may depend on the information authorized by you. You shall ensure that the information provided by you is accurate and true. You must promptly update your information when any changes are made to the information you have provided. Should we find that the information provided by you is wrong, untrue, inaccurate, incomplete or misleading, we shall have the right to inform you to correct or directly delete relevant wrong information and to suspend or terminate the Service in part or in whole as the case may be. You shall independently bear the losses arising therefrom.

2.1.2 Account Setup: After preliminary verification and review, we reserve the right to agree or refuse to open a margin account for you in our sole discretion. When you obtain the margin account and passwords, you will be deemed to have successfully opened the service. You shall be responsible for properly keeping the number and password of your Hotcoin Margin Account, and you shall independently bear all legal liabilities for all activities and events that occur as a result of your use of your Hotcoin Margin Account unless otherwise specified herein.

2.1.3 Requirements for Use of Margin: Without our consent or authorization, your Hotcoin margin account shall only be used by the account registrant, and you shall not give, borrow, rent, transfer, or otherwise deliver your margin account to a third party for use. We reserve the right to suspend, freeze, or cancel the use of your margin account by persons other than the account registrant. If you suspect or find unauthorized use of your username and password, you shall notify us immediately. We will assume no liability for any losses or damages arising from the use of your margin account by you or any third party with or without your authorization.

2.1.4 Account Security: We are committed to maintaining the security of pledged assets and have implemented protection measures in line with industry standards for the Service. However, the actions of individual users may pose risks. You agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking necessary security measures to protect the security of your own margin account and personal information. If you open a sub-account of the Hotcoin margin account and authorize a third party to operate it with our consent, you will be fully responsible for all operations and results of the sub-account utilized by the third party.

2.2 Payment of Loan and Margin Assets

2.2.1 Before using the Service, please carefully read How to Use Hotcoin Loans and What is Hotcoin Loans and Frequently Asked Questions. You shall understand and agree to specific operating rules related to the Service, including but not limited to trading pairs involved in the borrowing service,margin rate, floating rules of pledge rate, fee rate.

2.2.2 When using the Service, you shall transfer certain kinds and several margin assets to your margin account as a pledge. After confirming that payment procedures are completed, we will lend you certain kinds and a number of currencies, which shall be deemed as automatic completion of the loan service.

2.2.3 Unless otherwise specified herein or in the Terms of Use, you may freely choose the duration for each use of the loan service, but the maximum duration shall not exceed [90] days. You understand and agree that the longer the loan duration is, the higher the interests and related fees payable hereunder may be.

2.2.4 You agree that, unless otherwise agreed or exempted by us, you shall not withdraw any pledged assets from the margin account before you return the loan and pay corresponding fruits and expenses. However, you may make additional transfers of pledged assets to the margin account at your own discretion to reduce the risk of using the Service (such as the risk of being closed).

2.2.5 Requirements for Margin Funds and Loan: You undertake to ensure that the sources of your pledged assets are legal and compliant when using the Service, and that the use of your loan is in line with the Terms of Use and related laws and regulations. In addition to the foregoing restrictions, you may use the money in your discretion.

2.2.6 You undertake to ensure that the sources of your pledged assets are legal and compliant when using the Service, and ensure that the source of margin fund assets is legal and compliant.

2.3 Our Rights

2.3.1 Right to charge interests and fees: You shall be agreed,According to related rules published by us, we have the right to charge the interests and/or related fees generated at the time when you use the Service as the consideration for your use of the Service. You agree and undertake to pay the afore-mentioned interests and/or fees in accordance with the requirements announced by us.

2.3.2 Right to implement risk control measures: When the price changes due to market fluctuations in the loan process, and when we unilaterally determine that there is a risk based on the change of the real-time margin rate, we reserve the right to implement risk control measures such as closing positions on the margin assets, and you agree and unconditionally accept the final processing results.

For the purpose of the Agreement, “closing a position” refers to the right that we arrange to sell or discount the margin assets at a certain price (including disposal through currency transaction channels or fiat currency transaction channels) and give priority to using the proceeds from disposal of the pledged assets for compensation to the extent of the value equivalent to the principal, interests, and other repayable expenses of the digital currency. We will publish detailed rules and regulations on position closing and other risk control measures in the How to Use Hotcoin Loans .

During maintenance of the Hotcoin platform, you agree that we will be fully responsible for managing your pledged assets in the event of a risk as unilaterally determined by us, including but not limited to closing a position and repaying the principal, interests, and related expenses of loan to us. If the risk control measures (such as closing a position) taken by us still fail to make up for all the losses incurred in providing the Service to you, we reserve the right to take other remedy measures (including but not limited to freezing and deducting the digital assets in your Hotcoin account and other accounts) and the right to further investigate your legal liabilities.

2.3.3 Right to issue notices: You understand and agree that in the process of using the Service, we have the right (but no obligation) to issue various notices (such as early warning notices and position closing notices) to you via SMS, emails, or client messages under specific circumstances (including but not limited to the circumstance that we determine that there is a risk).

2.4 Suspension or Termination of the Service

We reserve the right to suspend or terminate the provision of the loan service for you at any time when we deem that it is necessary or reasonable. You agree that, to the maximum extent permitted by law, we do not need to assume any legal liability to you for this reason.

III. Miscellaneous

3.1 Modifications

We will adjust the Agreement and related Hotcoin business rules from time to time in accordance with applicable laws and regulations or as we deem necessary or reasonable. The revised notice will be published in the Terms of Use .You shall regularly review the Agreement and related Hotcoin business rules and remain alert to revisions. If you do not agree with the revised contents, you shall immediately stop using the Service, repay the digital currency borrowed, and pay the unpaid interests and expenses as well as revoke the margin account. After the updated version of the Agreement and related Hotcoin business rules are released, your continued use of the Service shall be deemed that you agree to the updated contents and agree to abide by the updated terms and relevant Hotcoin business rules.

3.2 Contact Us.

If you have any questions or concerns about the Agreement or the Service, or if you want to submit any requests based on the Agreement, please refer to our FAQs and contact us on our support page.