MEXC Earn Service Agreement
Introduction
This MEXC Earn Service Agreement ("Agreement") is a contract between you ("you", "your" or "User") and MEXC Global ("we", "our", "us" or "MEXC"). It sets out the terms and conditions that govern your use of MEXC's Earn Product (hereinafter referred to as 'Earn') and related trading services through mexc.com or any of our associated websites, application programming interfaces or mobile applications (collectively the "Platform").
The terms and conditions in this Agreement are supplementary to the User Agreement, Privacy Policy, Risk Disclosure or any such other agreement or publication pertaining to MEXC's Earn products or related trading services as may be published by MEXC from time to time (collectively, the "Legal Documents"). If the terms in this Agreement vary from those of the Legal Documents, the terms in this Agreement shall prevail. Before you use our Earn products and related services, you should read this Agreement and the Legal Documents, carefully.
By using MEXC's Earn products and related trading services (the "Service" or "Services"), you are deemed to have read, agreed, and fully understood the terms and conditions of this Agreement and the terms set out in the Legal Documents (including any revisions as may be published by us from time to time). If you do not agree to any terms or conditions set out in this Agreement or the Legal Documents, you are hereby advised to cease your use of the Services immediately. By continuing to use the Services, you are deemed to have agreed to the terms and conditions set forth in this Agreement and the Legal Documents in their entirety unconditionally.
Please note that certain users residing in specific jurisdictions may not access the Service, which may include North Korea, Cuba, Sudan, Syria, Iran, Mainland China, Singapore, the United States, the United Kingdom, Hong Kong, Russian-controlled regions of Ukraine (currently including the Crimea, Donetsk, and Luhansk regions), Sevastopol, and Canada (altogether referred to as 'Prohibited Countries'). The above list is non-exhaustive in nature and may be subject to unilateral changes by MEXC without prior notice to you.
Definitions
Save as defined below, all terms and references used in this Agreement shall have the meaning given to them in the Service Agreement:
"APR" has the meaning assigned to it in Clause 11;
"Auto-Earn" has the meaning assigned to it in Clause 16;
"Blockchain Network Architecture" means a network of decentralized nodes maintaining addresses and processing transactions in relation to addresses in accordance with the rules set out in their respective protocols.
"DApps" means apps that are operated by a decentralized Protocol and Blockchain Network Architecture.
"Early Redemption" means redeeming your Simple Earn Assets on a date earlier than the Redemption Date;
"Fixed Savings" has the meaning assigned to it in Clause 9;
"Flexible Savings" has the meaning assigned to it in Clause 9;
"On-Chain Earn" has the meaning assigned to it in Clause 9;
"Redemption Date" means the last day of the Term;
"Term" has the meaning assigned to it in Clause 9; and
"Third Party Operators" means the third-party operators who own, control, or otherwise operate the DApps.
Service
The Service allows MEXC users to deposit their Digital Assets on the MEXC Platform for a fixed or flexible term, so that they may earn Returns. The Earn Service is not a principal-protected product and users risk principal loss (in whole or in part).
In subscribing to the Service, you acknowledge, agree and confirm the following:
(a) any voting rights that are attached to your Digital Assets shall be assigned or delegated to us during the Term;
(b) we may combine your Digital Assets with other users' Digital Assets;
(c) you irrevocably authorize us to deal with your Digital Assets in any way we deem fit to generate the Return rate displayed on the Platform;
(d) we have the sole discretion to determine, from time to time, in relation to the Service:
(i) minimum amounts of Digital Assets required to be deposited in order to subscribe to the Service;
(ii) the fund size of any particular Service;
(iii) any redemption period;
(iv) any redemption limits;
(v) any subscription limits;
(vi) any annual percentage rate; and
(vii) any fees or charges; and
(e) you are the legal owner of the Digital Assets that you deposit in the Service and guarantee that the sources of these Digital Assets are legal.
You understand and accept the risks that may arise from using the Service and the losses that you may suffer from using the Service, including but not limited to:
(a) any loss you may suffer from the risks associated with the inability to trade Digital Assets. You are willing to bear the funding risks and potential financial losses caused by staking the Digital Assets and subscribing to the Service;
(b) the expected Returns displayed on the Platform are the theoretical estimates of returns; they are not the actual returns guaranteed or promised by MEXC. Actual Returns may vary from the expected returns. Your final Returns will be based on the actual Returns you receive, which shall be distributed by us in our sole discretion. We do not make any guarantee or promise to the actual Returns that you may receive;
(c) price fluctuations of Digital Assets and their derivatives may cause significant or total losses in a short period of time;
(d) technical anomalies may occur, which may delay or prevent you from using the Service or performing related transactions and result in losses of your Digital Assets;
(e) market anomalies may occur, which may result in losses of your Digital Assets; or
(f) to maintain an orderly market, MEXC is required to add, remove, or change the policies, the terms of this Agreement or other relevant service agreements or terms from time to time. Any changes may benefit or harm individual customers like you.
Subscription
You may subscribe to a particular Service by depositing, staking or allocating your Digital Assets for either a fixed or flexible period to generate Return from one of the following options:
(a) On-Chain Earn: Digital Assets are deposited on-chain with third party DApps.
(b) Flexible Savings: Digital Assets are staked, with Return accruing from the next UTC 2:00. You must stake a full twenty-four (24) hours to qualify for that day's Return and any withdrawals made before UTC 2:00 forfeit that day's Return.
Any selection you make when subscribing to the Service is final, and cannot be cancelled, revoked or edited.
Returns
Your Digital Assets may accrue a Return at an annual percentage rate published on the Platform when a subscription is made ("APR"). A tiered-APR may apply, depending on the amount and type of Digital Assets.
The APR for any particular Service may vary from time to time. Changes to the APR will be published on the Platform. You are responsible for monitoring published rates and are advised to check the Platform regularly. MEXC will not be liable for any losses arising or connected with changes to the APR, whether or not you are aware of the changes.
For the avoidance of doubt, historical returns are not indicative of future returns. MEXC does not guarantee that you will receive the interest yield at the APR published on the Platform at the time you subscribe. You agree and accept that any representation concerning possible return at the time you subscribe to the Service is an estimate only and not guaranteed. Actual distributed yield may have slight discrepancies due to calculation rounding or precision errors.
Redemption
Under Fixed Savings, you may subscribe at any time but are not able to redeem your Digital Assets until the term subscribed for has expired ("Term"). On expiry of the Term, your principal amount and Return will be credited to you.
Under Flexible Savings, you may, at any time, subscribe or redeem your Digital Assets by selecting the redemption option on the Platform. After subscription, Return on your Digital Assets will start accruing from the next day and will be distributed to your Spot Account on a daily basis. You must stake an entire twenty-four (24) hour period to be eligible for payout of daily Return.
Auto Reinvest
You will automatically Earn your Digital Assets under On-Chain Earn together with the interest earned in the preceding Term, for subsequent Terms ("Auto Reinvest"). Auto Reinvest will commence on the date of a successful subscription to the On-Chain Earn product and continue to be automatically renewed, until a successful Redemption on or before a Redemption Date.
MEXC reserves the right to enable or disable the Auto Reinvest function in its sole discretion.
Auto-Earn
You may opt to Earn your selected idle Digital Assets from your Spot Account into Flexible or Fixed Savings automatically ("Auto-Earn"). Staking will commence immediately when Auto-Earn is enabled and occurs daily, until the occurrence of any of the following events:
(a) you cancel the Auto-Earn before the next staking occurs;
(b) the Flexible Savings has been fully subscribed or has reached its subscription limit; or
(c) the Flexible Savings has been delisted or removed by MEXC in its sole discretion.
MEXC reserves the right to enable or disable the Auto-Earn function in its sole discretion.
On-Chain Earn
On-Chain Earn provides a platform which presents on-chain investment and financial projects, which are third-party DApps offered by Third Party Operators on the public blockchains. These DApps are not assessed, managed, or operated by MEXC. Many of them are autonomous, i.e. they operate in a pre-determined condition set out by the Protocol or its source code. We are not affiliated with, and do not endorse these DApps, and we make no representation and/or warranty in relation to these DApps. You should conduct your own independent assessment and due diligence on the DApps before subscribing.
We allow you to access DApps via the Service. Any action to stake your Digital Assets is entirely your own and we will only facilitate the Service at your request and instruction. Please note that when you stake your Digital Assets, your relationship with the Digital Assets is directly with the DApps and/or the Third Party Operators.
When you stake your Digital Assets with DApps, you may earn potential rewards granted by the DApps or the relevant Protocols. Returns are derived from the Protocols. Protocols are environments over which we exercise no control over. We therefore do not have any control on Returns. Any APY displayed is for reference only. You should conduct your own independent due diligence and risk assessment before staking your Digital Assets. In particular, you should review information relating to distributions of Returns, including any information on the actual APY, rewards, incentives, or any other service terms of the DApps or DApps Platforms.
Most DApps have a locking period in which you may not make any Redemption. You understand and acknowledge that the DApps are services owned, controlled, or operated by Third Party Operators, not MEXC. We therefore are under no obligation to, and do not ensure or guarantee the redemption of your Assets. You agree and accept that we shall not be liable for any losses arising from or connected with your ability or inability to Redeem your Assets, or any delay in the redemption of your Assets.
Earn Plus
Earn Plus is a supplementary MEXC Earn product. With Earn Plus, users can deposit USDT (or other supported stablecoins) to enjoy daily distributions based on the current APR associated with the respective Earn Plus product. The deposit is deployed by MEXC into the stated Earn Plus product (such as USDGO, USDC or other stablecoins), and distributions come from the returns of such deployment. The APR of each Earn Plus product is not fixed, and is updated from time to time as reflected on the product page. Any distributions from Earn Plus products are added to the principal deposit amount and future distributions paid will be based on the updated principal.
As the deposits are deployed in the aforementioned manner, deposits from users of Earn Plus are not reflected as part of MEXC's Proof of Reserves (as reflected at https://www.mexc.com/proof-of-reserve).
Some Earn Plus products have no minimum lock-in period and deposits can be withdrawn at any time. Other Earn Plus products have a fixed or minimum lock-in period.
Distribution
Liabilities
The Legal Documentsset out situations in which you may incur losses or liabilities and MEXC assumes no liability. Without prejudice to those terms, those situations include:
- Inability to use the Service or make commands or perform trading operations due to failure, delay, interruption, lack of system response, delayed system response, lack or reduction of liquidity in the Service, or other abnormal circumstances;
- Service suspension for maintenance;
- Failure to transmit data;
- Force majeure events or accidents, such as typhoon, earthquake, tsunami, flooding, plague, power outage, war, turmoil, government actions, terrorist attacks, pandemic, epidemic, or other such acts;
- Service interruption or delay due to hacking, computer virus, technical adjustment or failure, website upgrade, banking issues, temporary closure due to government regulations or other such matters;
- Losses due to technical problems that cannot be predicted or solved by existing technical forces;
- Losses due to third parties;
- Losses due to changes in any Applicable Laws and Regulations, or government, regulatory or law enforcement orders.
You agree and accept that the above or any other reasons may lead to abnormal transactions, abnormal market and price fluctuations, market interruptions and other possible abnormal circumstances.
MEXC reserves the right and sole discretion to refuse to execute or cancel your commands.
You agree and accept that MEXC shall not be liable for any losses caused by the risks described in this Agreement or the LegalDocuments(including but not limited to any direct or indirect losses, actual losses or possible loss of profits).
Risks of On-Chain Earn
The DApps are services owned, controlled, or operated by Third Party Operators. On-Chain Earn simply collects the data from these DApps and presents them to you on the platform. You should be mindful that such a presentation does not indicate nor imply that we have any control or influence over these DApps. With the acceptance of the terms of this Agreement, you acknowledge and agree that the Services carry significant inherent risks, including but not limited to:
- Smart contract risks. Technologies such as Protocols and smart contracts on the blockchains involve cyber security and technology-related risks. Accordingly, there are risks when you interact with Protocols or smart contracts in On-Chain Earn Service, such as contract vulnerabilities, bugs, hacking incidents, malfunctions, cyberattacks, changes to blockchains or extreme fluctuations, among other risks. We assume no responsibility or liability for any such risks.
- Disclaimer of Platform Use. We do not assume any responsibilities or liabilities for your use of or access to our platform. We cannot and are not obligated to guarantee the outcomes of your use of or access to our platform. You agree and accept that you shall solely bear all losses, expenses, costs, damages, liabilities, penalties, charges as a result of your use of our platform, and we shall not be liable for any losses in connection with your use or access of the DApps, including without limitation, any transactions you dispute.
- Fees. When you access the DApps, the third-party developed smart contracts or Third Party Operators may charge you handling fees, third-party protocol fees and/or service fees. Any information displayed on On-Chain Earn Service relating to such fees is for your reference only, as we cannot and do not guarantee its accuracy, applicability, reliability, integrity or appropriateness, nor shall we be liable for any losses that may be caused directly or indirectly by your use of these contents.
- Security of Assets. You understand and acknowledge that when you invest or stake your Digital Assets in DApps, your Digital Assets are invested in DApps over which we have no control or influence. We are under no obligation to, and do not (i) monitor or guarantee the security of your Digital Assets; and (ii) ensure or guarantee the redemption of your Digital Assets, as the DApps are services owned, controlled, or operated by Third Party Operators, not us. You agree and accept that we shall not be liable for any losses you may suffer as a result of using the Service, including but not limited to loss of your Digital Assets or inability to Redeem your Digital Assets from the DApps.
- Third Party Terms. You may be subject to terms directly between the DApps / DApps Platforms / Third Party Operators and you with respect to your use or access of the DApps or DApps Platforms ("Third Party Terms"). Any such Third PartyTerms are solely between you and the DApps / DApps Platforms / Third Party Operators. We are not a party to any such Third PartyTerms, and we disclaim any and all responsibility and/or liability arising from such Third PartyTerms. You and the DApps / DApps Platforms / Third Party Operators are entirely responsible for communicating, agreeing to, and enforcing the Third Party Terms. You are solely responsible for reviewing such Third Party Terms before using or accessing any of the DApps or DApps Platforms.
- Funding Risks. You may suffer losses from the risks associated with the inability to trade Digital Assets while your Digital Assets are invested or staked in the DApps. You are willing to bear the funding risks and potential financial losses caused by staking the Digital Assets and using the On-Chain Earn Service.
Disclaimers
MEXC may, from time to time, suspend access to your MEXC accounts, the MEXC Platform, the Service and/or any other MEXC services, for both scheduled and emergency maintenance. MEXC will make reasonable efforts to ensure that transactions on the MEXC Platform are processed in a timely manner, but MEXC makes no representations or warranties regarding the amount of time needed to complete any such maintenance.
Although MEXC makes reasonable efforts to update the information on the MEXC Platform, MEXC makes no representations, warranties, or guarantees, whether express or implied, that the content on the MEXC Platform, including information in relation to the Services and any other MEXC Services, is accurate, complete, or up to date.
You are responsible for obtaining the data network access necessary to use the Services or any other MEXC Services. You are responsible for acquiring and updating compatible hardware or devices necessary to use the Service, any MEXC Services, the MEXC Platform, and any updates thereto. MEXC does not guarantee that any of the MEXC Services, or any portion thereof, will function on any particular hardware or devices. MEXC Services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.
Despite our efforts to ensure the security of your data and transactions, the risk of unauthorized access, hacking, data loss, or other breaches cannot be completely eliminated. You acknowledge that you bear the risk of any unauthorized access to your account information and any loss of Digital Assets resulting from such security breaches.
The field of digital assets is rapidly evolving, and changes in technology may require adjustments to the Services or how you interact with the MEXC Platform. MEXC reserves the right to modify the technology used, the features provided, or the Service requirements based on technological advancements or regulatory changes without prior notice.
You agree and acknowledge that we will have no liability to you in relation to any loss, costs or expenses that you suffer as a result of any inability by you to carry out a transaction or any cause beyond our reasonable control and the effect of which is beyond our reasonable control to avoid.
You understand and agree that MEXC's aggregated liability shall not exceed the Service fees MEXC received from you.
Mandatory Measures
You agree and accept that MEXC strictly prohibits unfair trading practices. MEXC reserves the right to exercise control over your account, restrict, suspend or shut down your account in its sole discretion if you engage in any of the following conduct:
- Market manipulation, price manipulation, insider dealing, market distortion, or any other malicious wrongdoing or behaviour;
- Participation in any activities that MEXC regards as harmful to the market;
- Violation of any Applicable Laws and Regulations.
- Violation of the Legal Documents.
In order to eliminate any adverse effects on the overall market, MEXC reserves the right and sole discretion to suspend or terminate your account, use of the Service, or refuse to execute or cancel your commands. MEXC shall not be liable for any losses (including but not limited to any direct or indirect losses, actual losses or losses of possible profits) incurred in connection with the above measures.
Indemnification
You shall take every possible measure to protect MEXC from any damages arising out of your use of the Service or other actions related to your MEXC account.
You agree to indemnify, hold harmless and promptly defend MEXC and MEXC's affiliates and associates (including our and their respective agents (if any) and the shareholders, directors, officers and employees of MEXC and MEXC's affiliates and associates) (each an "Indemnified Party") from and against any and all losses arising from or in connection with any claims, losses, liabilities, damages, judgments, penalties, fines, costs and expenses of whatever kind (including professional fees and reasonable attorney's fees) which may be suffered or incurred by any of the Indemnified Parties arising out of or related to your use of the Service or other circumstances set out in the Legal Documents.
Reminder
By using our Services, you are deemed to have agreed to manage the potential risks thereof on your own, assess the value and risks of investment in Digital Assets, and bear the possible financial risks of losing all your investments. You are deemed to have agreed to take into consideration your own financial conditions and risk tolerance capacity before conducting any margin trading, and you clearly recognize the risks of Digital Assets investment. You understand that you may make profits or sustain losses when engaging in margin trading in Digital Assets. The Risk Reminder in this Agreement does not list all risks involved in margin trading of Digital Assets. You are hereby advised to have a clear understanding of this, and please be reminded that such investment may involve high risks and prudent investment is recommended.
We are not your broker, dealer, intermediary, agent, or advisor. You acknowledge and agree that we do not have a fiduciary relationship with or fiduciary duty towards you in connection with any transactions, decisions, or other activities you undertake when using the Services. We do not provide investment or financial advice of any kind, and no communication or information provided to you by us is intended as, or should be construed as, advice of any kind. All transactions are executed based on the parameters of your order instructions. All information displayed is for informational purposes only and do not constitute recommendation or endorsement of any kind. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation, and you alone shall be solely responsible for any losses therefrom.
Digital Assets subscribed for any Earn Service may, at MEXC's sole discretion and without prior notice, be used for operating purposes by MEXC including, but not limited to, loans to other clients of MEXC globally under its Services. In addition, Digital Assets subscribed for any Earn Service may also be used by MEXC in on-chain staking activities in a tightly controlled manner.
No Financial Advice
You acknowledge that your use of our Services on our Platform is entirely voluntary conduct of yours based on your own economic situation and your knowledge of the relevant risks, both of which are not related to us and any third party in any manner whatsoever.
All dealings with you as undertaken by us will be on an "execution-only", "non-advised", and "as-is" basis. You are to rely on your independent judgment for your investments and you are not entitled to ask us to provide you with any investment advice relating to any transactions. MEXC does not, and is under no obligation to, provide you with any investment advice.
Language
This agreement is written in English. Although translations in other languages of this agreement may be available, such translations may not be up to date or complete. Accordingly, you agree that in the event of any conflict between the English language version of this agreement and any other translations thereof, the English language version of this agreement shall prevail.