Deveab Blog

Simple Earn User Agreement

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deveab

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Last Updated: March 21, 2025

1. Overview

1.1 Service Description

The Simple Earn Service (“Service”) enables OKX users to earn Returns by depositing Digital Assets on the OKX Platform for flexible or fixed terms.

1.2 Agreement Scope

This Simple Earn User Agreement (“Agreement”) governs your use of the Service. By accessing the Service, you confirm acceptance of all terms herein.

1.3 Precedence

In case of conflicts with other OKX terms, this Agreement takes precedence.

2. General

2.1 Service Features

  • 24/7 Subscription & Redemption: Available for flexible terms; fixed terms lock assets until maturity.
  • Non-Guaranteed Returns: Principal loss risks exist.

2.2 Key Definitions

Term Definition
Principal Digital Assets deposited into the Service.
Returns Interest/yield from matched assets.
Insurance Fund Covers losses during extreme market volatility.

3. Eligibility

3.1 Requirements

  • Compliance with OKX’s Terms of Service.
  • Legal ownership of deposited assets.
  • No involvement in prohibited activities (e.g., money laundering).

3.2 Risks Acknowledged

  • Market Volatility: Potential asset value fluctuations.
  • No Return Guarantees: Historical performance ≠ future results.
  • Technical Risks: Platform outages or delays.

👉 Learn more about risk management

4. Service Usage

4.1 Subscription Process

  • Flexible Term: Redeem anytime; hourly Returns.
  • Fixed Term: Locked until maturity; daily Returns.

4.2 Auto-Earn Feature

  • Automatically invests idle assets at the lowest market APR.
  • Opt-in required; scans every 4 hours (UTC+8).

4.3 Redemption

  • Delays may occur due to liquidity issues.
  • Fixed-term assets cannot be partially redeemed.

5. Fees & Limits

5.1 Insurance Fund Retention Fee

  • 15% of Returns for flexible terms only.
  • Updated rates published on OKX Platform.

5.2 Subscription Limits

OKX may impose/adjust limits at its discretion.

6. Termination & Liabilities

6.1 Suspension Scenarios

  • Regulatory compliance.
  • Suspicious activity detection.

6.2 Disclaimers

  • OKX is not liable for:
  • Market losses.
  • Technical failures (e.g., hacking, maintenance).

7. Dispute Resolution

7.1 Mediation & Arbitration

  • Mediation: Via HKIAC (90-day period).
  • Arbitration: Binding, seated in Hong Kong (English proceedings).

👉 Review dispute policies

8. Miscellaneous

8.1 Agreement Updates

OKX may revise terms unilaterally; continued use = acceptance.

8.2 Governing Law

English and Welsh law applies.

FAQs

1. Can I redeem fixed-term assets early?

No. Fixed-term assets are locked until maturity.

2. How are Returns calculated?

  • Flexible: Hourly accruals.
  • Fixed: Daily accruals, paid at term end.

3. What happens if a borrower defaults?

Extended terms (up to 14 days) may apply; liquidation risks exist.

4. Is there a fee for flexible-term deposits?

Yes, a 15% Insurance Fund Retention Fee applies.

5. How does Auto-Earn work?

Idle assets (unchanged for 6+ hours) auto-invest at the lowest APR.

6. What if I disagree with updated terms?

Discontinue Service use if revisions are unacceptable.

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