Dear User,

Welcome to BitMart Crypto Loans Services! By accessing and continued use of the BitMart Crypto Loans Services located at BitMart Earn Services or such other sites as may be designated by BitMart from time to time, as well as any mobile apps or other related services or applications thereto (collectively, the “Crypto Loans” or "Crypto Loans Services"), you accept these Terms and Conditions for BitMart Crypto Loans Services (this “Agreement” or "Crypto Loans Services Terms") in addition to other market place rules applicable to all BitMart users. The Terms and Conditions are legally binding agreement regarding your use of BitMart Crypto Loans Services, and, together with BitMart User Agreement, Privacy Policy and other market rules (the “General Market Rules”) that may be adopted and published by BitMart from time to time, constitute the entire understanding between you and BitMart.

In the event of a conflict between this Agreement and the General Market Rules with respect to use of BitMart Crypto Loans Services, this Agreement will supersede and control.

Please carefully review these terms and conditions in this Agreement as we may change or amend them at any time at our sole and absolute discretion. Any amendments to this Agreement will be in effect as of publication the date referred to at the bottom of this page. You acknowledge and agree that the form and nature of the BitMart Crypto Loans Services, and any part of it, may change from time to time without prior notice to you, and that we may add new or remove existing features and change any part of Crypto Loans Services.

IF ANY PROVISION OF THIS AGREEMENT ARE UNACCEPTABLE TO YOU, DO NOT USE OR CONTINUE TO USE THE BITMART CRYPTO LOANS SERVICES. YOUR CONTINUED USE OF THE CRYPTO LOANS FOLLOWING ANY CHANGE TO THESE TERMS SHALL CONSTITUTE YOUR ACCEPTANCE AND AGREEMENT TO SUCH CHANGE.

Please note that BitMart Crypto Loans Services are not available for users located in, established in, or a resident of the United States of America.

Last updated: July 8, 2025

1. Scope of these Terms and Changes

These Crypto Loans Terms govern your use of BitMart Crypto Loans Services at all times. Any issues which are not included in this Agreement shall be governed by the General Market Rules. Information of some of the risks associated with using BitMart Crypto Loans Services is set out in the Risk Disclosure Statement, which may be updated from time to time. You should read the Risk Disclosure Statement carefully and it is important that you fully understand the risks involved before making a decision to use BitMart Crypto Loans Services.

BitMart may make changes to this Agreement (or any terms or information incorporated by reference) at any time. This Agreement and other terms that apply to your activities in connection with the Crypto Loans may change from time to time. You should check our website for the latest terms and additional information before you enter into any new Crypto Loans transactions.

2. Grant of Loan

2.1 Eligibility Criteria. BitMart is under no obligation to grant you a Loan. You may use the Crypto Loans Services only if all of the following conditions below are met:

• opening and maintenance of a BitMart Account in good standing;
• completion of BitMart’s identity verification procedures on, among other things, your risk profile and the relevant eligibility criteria which are set forth in the BitMart User Agreement, including but not limited to BitMart’s KYC Level 2 or Institutional Account Verification procedures;
• your utilization of the Crypto Loans does not require registration, licensing or approval of any kind and/or is not prohibited by or subject to any applicable Law or regulatory requirements in your jurisdiction;
• sufficiency of Eligible Collateral required for BitMart Crypto Loans Services; and
• such other conditions as may be required by BitMart in any particular case to BitMart’s satisfaction or as determined or waived by BitMart in its sole and absolute discretion from time to time.   

2.2 Suspension Due to Ineligibility. If BitMart determines at any time in its sole discretion that you do not meet or have ceased to meet any of the conditions set out in Section 2.1 above, BitMart may, at its discretion and without prior notice to you, suspend the provision of the Crypto Loans to you, restrict your access to the Crypto Loans or other BitMart services, or close your BitMart Account. In the event of ongoing loans, BitMart may take further actions, including but not limited to, liquidating collateral, closing positions, or initiating other measures in accordance with the relevant agreements and applicable procedures.

2.3 BitMart Discretion to Modify or Suspend Services. At any time, at BitMart’s sole and absolute discretion, without liability or prior notice to you, BitMart can (i) refuse your request for granting of a Loan; (ii) change Crypto Loans Services Terms; (iii) suspend the provision of all or part of the BitMart Crypto Loans Services; or (iv) change, update, remove, cancel, suspend, disable or discontinue any features, component or content of the Loans Services. By continuing to use the BitMart Crypto Loans Services, you agree to be bound by the Agreement and other terms that apply to your activities in connection with the Crypto Loans Services.

2.4 Loan Disbursement. If BitMart approves your request for a Loan, BitMart will credit your Spot Account with the corresponding amount of such loan, less any fees and charges, if applicable. Such loan will be made available for any use of BitMart services and for withdrawal purpose.  

In its sole discretion, BitMart may permit you to open sub-accounts for the purposes of the Crypto Loans Services.

2.5 Flexible Rate Loans.

• Term: No fixed maturity. You may repay the Flexible Rate Loans at any time. A loan duly granted by BitMart is automatically extended every hour as long as you are not in breach of any Crypto Loans Services Terms.
• Maturity: There is no term and therefore no predefined maturity date. Loans remain open until fully repaid or terminated according to Crypto Loans Services Terms. No grace period applies.
• Repayment: You may repay your Flexible Rate Loan through your BitMart Loan Account at any time by transferring to your BitMart Spot Account the same type and amount of the Digital Asset as originally borrowed, including any accrued interests. Both partial and full repayments are supported. Repayment using Collateral is not permitted.

Upon full repayment of all outstanding principal and interests, your pledged Collateral, together with any associated earnings, if applicable, will be automatically unfrozen and returned to your BitMart Spot Account.

• Grace Period: BitMart does not offer a Grace Period for the repayment of Flexible Rate Loans.
• Interest: Interests on Flexible Rate Loans accrues on an hourly basis, using a simple compounding model derived from BitMart's real-time dynamic borrowing rate.

• Interest is calculated once every hour as follows: Hourly Interest = (Outstanding Principal + Accrued Interest) × Applicable Hourly Interest Rate. The interest rate is updated dynamically every hour based on platform utilization and supply-demand conditions. Specifically, BitMart determines the interest rate according to the following parameters:

  a. The Annualized Rate ranges from 0% to 150%;

  b. At the start of each hour, the system calculates the Utilization Ratio for each loanable digital asset: Utilization Ratio = (Total Loaned Amount / Maximum Loanable Amount) × 100%.

All accrued interests are added to the loan balance at the end of each hour. Interest shall accrue on both the principal and any previously accrued interest, resulting in compound interest being applied throughout the loan period.

Upon any full or partial repayment, you must repay both:

a. The principal portion of the loan you are repaying, and

b. All interests that have accrued on that portion up to the time of repayment.

BitMart reserves the right to modify the interest rate and associated parameters at its sole discretion. The currently applicable rate is publicly displayed on the Crypto Loans page and you should read carefully to understand the interests to be applied to the loan you are requesting.

• Pledged Collateral for Flexible Savings Return: If chosen at your first loan initiation, your pledged collateral assets may continue to earn interests through BitMart’s Flexible Savings services while the loan remains open. Once chosen, this setting cannot be changed for any loan application for the same kind of digital asset afterwards. Upon full repayment, both pledged collateral assets and earned yield will be returned to your Spot Account.

2.6 Customized Crypto Loans. BitMart may, at its sole discretion, provide customized Crypto Loans Services for BitMart VIP users upon request. You may contact request through the Crypto Loans Services related page to inquire about or apply for these services. The loans offered will be subject to Crypto Loans Services Terms and Great Market Rules, including eligibility criteria, collateral requirements, and interest rates.

3. Repayment

3.1 Repayment Timing. Unless otherwise stipulated herein, you may repay all or part of the outstanding principal and accrued interests at any time. BitMart Crypto Loans are open-term, and no fixed maturity is required unless your position becomes subject to risk control measures, accelerated repayment demands under Clause 3.7, or any other kind of account restrictions applied.

3.2 Partial and Full Repayment. Partial or full repayment is permitted. Repayments shall be applied in the following order:

• Accrued interests;
• Outstanding principal.

Please note that partial repayments will not automatically result in any release or return of your collateral assets. Once your Loan-to-Value (LTV) ratio falls below the initial threshold, you shall manually apply to redeem the excess portion of your collateral assets through the platform.

3.3 Accepted Repayment Assets. Repayment must be made in the same digital asset that was borrowed. Only the asset denominated in the loan will be accepted as repayment. If that asset is unavailable, BitMart may, at its sole discretion, accept repayment in other assets of equivalent value based on real-time exchange rates and subject to applicable fees. Any request for repayment in an alternative asset must be communicated through BitMart Customer Support.

3.4 Repayment Channel and Access. You may access your real-time loan balance and initiate repayment through the “Crypto Loans” page on the BitMart website or mobile application.

3.5 Repayment, Collateral Deduction and Auto-repayment Feature. If you choose to repay in full or partially, or if you terminate the use of this service or the service is terminated for any reason, you authorize BitMart to deduct the outstanding principal, accrued interests, and any applicable fees directly from your collateral assets. BitMart may also provide an auto-repayment feature that deducts from your spot wallet under pre-set conditions (e.g., reaching a user-defined LTV threshold).

3.6 Collateral Return. Upon full repayment of all outstanding principal, accrued interests, and any other applicable fees, BitMart will unfreeze and return your collateral assets to your BitMart spot account within one (1) business day, along with any already earned yield generated from BitMart Flexible Savings services for such collateral assets, if any. Upon the repayment, any associated BitMart Flexible Savings services you have subscribed to using your pledged collateral assets shall terminate automatically.  

Collateral will not be automatically released if only a partial repayment is made, although the user is entitled to apply to redeem the excess portion of collateral assets through the platform.

3.7 Discretionary Liquidation Due to Liquidity Risk. BitMart reserves the right, at its sole discretion, to demand immediate repayment of any outstanding Flexible Rate Loan if it determines that the borrowed assets under such loan are facing significant liquidity risks that may materially affect the platform’s operations, user interests, or the stability of the trading platform. You must promptly repay the loan principal and any accrued interests upon such notice. BitMart shall bear no responsibility for any losses or consequences arising from such measures.

You agree that BitMart retains full discretion to take any risk-control actions necessary to safeguard the platform and its users, if you fail to respond to such immediate repayment request on time.

3.8 Force Majeure and Collateral Risk Disclaimer. BitMart shall not be liable for any direct or indirect loss of collateral due to bankruptcy, insolvency, liquidation, receivership, hacking, security breaches, technical failures, or any other force majeure event.

4. Collateral

4.1 Eligible Collateral. BitMart may, in its sole and absolute discretion, designate certain Digital Assets as eligible for use as collateral under the Crypto Loans Services (“Eligible Collateral”). Only Digital Assets held in your Spot Account may be pledged as collateral. BitMart reserves the right to update or modify the list of Eligible Collateral or apply valuation discounts at any time at its sole discretion without prior notice.

4.2 Collateral Freeze and User Authorization. By using the Crypto Loans Services, you irrevocably authorize BitMart to freeze Eligible Collateral held in your Spot Account for the duration of the Loan.

You shall not access, transfer, withdraw, trade, or otherwise dispose of any frozen Collateral unless explicitly permitted by BitMart. This authorization is irrevocable and binding until all obligations under the Loan are fully discharged in accordance with Crypto Loans Services Terms.

4.3 Collateral Valuation and Discounting. The value of Collateral shall be determined based on real-time market prices published on the BitMart platform. BitMart may apply a Collateral Discount Factor (between 0 and 1) to reflect market volatility and risk.

Discounted valuations may be used by BitMart for internal risk monitoring, enforcement actions, or system-driven controls at its own discretion.

4.4 Collateral Management and Risk Controls. BitMart monitors the sufficiency of your Collateral on an ongoing basis during the duration of a loan. If BitMart determines, at its sole discretion, that your Collateral is no longer sufficient to support your outstanding obligations, you may be required to provide additional Collateral or margin.

BitMart may send you notices via email, SMS, or app push notification. Failure to act promptly may result in enforcement actions, including the liquidation of Collateral.

4.5 Collateral Liquidation and Enforcement. BitMart reserves the right to sell, convert, or otherwise dispose of any or all of your frozen Collateral, without further consent or prior notice, in the following situations as BitMart deems appropriate:

• Collateral is deemed insufficient to support your outstanding obligations;
• You are subject to criminal investigation or legal incapacity;
• BitMart suspends or terminates your access to the Crypto Loans Services; or
• Any other event or violation requiring liquidation or enforcement under applicable laws or BitMart User Agreement.

BitMart reserves the right to sell, convert, or otherwise dispose of any or all of your frozen Collateral, without further consent or prior notice, when a liquidation or enforcement action is triggered. Proceeds from liquidation will be applied toward the repayment of your outstanding obligations, including principal, accrued interests, liquidation penalties, and any applicable fees or costs.

4.6 Collateral Top-Up and Release Requests. You may add additional Eligible Collateral at any time via the platform. You may also request the partial release of Collateral, provided that BitMart determines such release does not compromise the security of your outstanding obligations. BitMart reserves the right to reject release requests at its sole discretion and without liability.

4.7 Earnings on Collateral. If supported and enabled at the first time of Loan initiation, your pledged Collateral may continue to accrue yield through BitMart’s Flexible Savings program throughout the duration of the Loan. The following terms apply:

• The Collateral will participate in Flexible Savings and accrue interest, subject to the applicable APY published by BitMart;
• Any accrued yield will be added to the frozen Collateral and will be returned to your Spot Account upon full repayment of the Loan (including all principal, interests, and applicable fees);
• Once this feature is enabled, it cannot be modified or disabled during the duration of the Loan;
• Yield history may only reflect earnings from the most recent seven (7) days and may not be displayed in the general Earn dashboard.

BitMart does not guarantee the availability, performance, or earned yield from any Flexible Savings program. You assume all risks related to yield fluctuations, interest rate changes, and the potential loss of yield.

4.8 Emergency Controls and Suspension Rights. In the event of extreme market volatility, platform risk, or force majeure, BitMart may, without notice, suspend any release, conversion, or revaluation of Collateral to preserve platform integrity and user asset protection.

5. Additional Collateral

5.1 Right to Provide Additional Collateral. You may, at any time and at your sole discretion, provide additional Eligible Collateral to strengthen the security of your existing Loan position. This may help prevent potential liquidation or enforcement actions by BitMart, particularly during periods of elevated market volatility.

5.2 Source and Deposit of Additional Collateral. All additional Collateral must be sourced from your Spot Account. Upon initiation, the specified assets will be frozen by BitMart and treated as part of your pledged Collateral. In the case of newly deposited or transferred assets, BitMart may require confirmation of on-chain transfer prior to recognition.

5.3 Treatment and Effect of Additional Collateral. Once accepted, the additional Collateral shall be valued using BitMart’s standard pricing and discounting methodologies and shall be incorporated into the overall Collateral pool for the Loan.

The addition of Collateral does not modify any prior Loan terms and does not imply eligibility for increased borrowing.

5.4 No Automatic Right to Loan Increase. Providing additional Collateral does not guarantee that you are eligible for a higher amount of loan. BitMart retains sole discretion over any Loan expansions or adjustments, which remain subject to prevailing platform conditions, risk limits, and interest rate policies.

5.5 BitMart Discretion and Suspension Rights. BitMart may, without prior notice and at its sole discretion, suspend or restrict the ability to pledge additional Collateral for certain asset types or all users. This may occur during periods of high volatility, asset devaluation, protocol updates, or other systemic risks.

5.6 Confirmation. BitMart may provide confirmation for additional Collateral accepted, but shall not be held liable for any technical delays or failures caused by blockchain congestion, wallet provider issues, or force majeure events.

6. Margin Calls

6.1 Margin Call Definition. A margin call refers to a risk-based platform alert that may be issued when BitMart determines that your Loan position has exceeded the applicable risk thresholds, including the Warning Loan-to-Value (LTV) level. This indicates that your pledged Collateral may no longer adequately secure your outstanding obligations due to market volatility or interest accrual.

6.2 Non-Binding Notification Mechanism. When applicable, BitMart may, but is not obliged to, notify you via email, push notification, or platform interface that your position has entered a margin call state. Such notifications are provided as a user convenience only and do not constitute a contractual right or obligation.

6.3 Recommended User Action. If a margin call is received, you are strongly encouraged to take immediate corrective action, which may include:

• Depositing additional Eligible Collateral; and/or
• Repaying part or all of your outstanding Loan.

BitMart does not guarantee that any remedial actions listed above will be effective in avoiding any liquidation or enforcement actions once the margin call state has been triggered. You are solely responsible for maintaining your loan position within the applicable risk thresholds.

6.4 No Guarantee of Execution Timeframe. You acknowledge that market conditions may change rapidly, and BitMart does not guarantee that you will have sufficient time to respond to any margin call. Your position may be subject to immediate liquidation or enforcement actions without further notice if the Liquidation LTV threshold is reached.

6.5 User Risk Management Responsibility. You are responsible for monitoring your Loan position, Collateral value, and associated risk levels on an ongoing basis to avoid liquidation or enforcement actions. BitMart does not assume any responsibility for monitoring or managing your exposure on your behalf.

6.6 Platform Rights to Enforce Liquidation. BitMart reserves the right to initiate partial or full liquidation of your Collateral at its sole discretion, without prior notice, once the Liquidation LTV threshold is met, regardless of whether any margin call was delivered, received, or acknowledged.

7. Liquidation

7.1 Platform Right to Enforce Liquidation. BitMart reserves the right, at its sole and absolute discretion, to initiate full or partial liquidation of any or all of your pledged Collateral, including but not limited to selling, converting, or otherwise disposing of such Collateral, in order to (i) restore your Loan-to-Value (LTV) ratio to a level deemed acceptable by BitMart, (ii) recover any outstanding loan amounts, including principal, accrued interest, penalties, or other associated fees, or (iii) manage or mitigate any potential risk to platform operations, user interests, or overall market stability. Such liquidation may occur regardless of whether a Margin Call has been issued and may proceed without further notice to you.

7.2 Risk-Based Liquidation Rights. BitMart may initiate full or partial risk-based liquidation of your pledged collateral if:

• You fail to respond to BitMart’s request to repay your loan or adjust your collateral;
• You fail to satisfy a Margin Call within the specified time;
• Your LTV reaches or exceeds the Liquidation LTV threshold; or
• Any other platform defined risk control thresholds are breached.

Such liquidation may occur with or without prior notice. BitMart will act in good faith to protect the platform and its users, but shall not be liable for the timing, sequence, or method of execution.

7.3 Asset Eligibility and Conversion Authority. You acknowledge and agree that BitMart may, at its discretion, convert your pledged collateral—whether in whole or in part—into another asset (including but not limited to USDT or the loaned asset itself) to facilitate liquidation. BitMart is not required to notify you prior to initiating such conversions.

7.4 No Guarantee of Avoiding Losses. Liquidation may result in financial loss due to market volatility, liquidity constraints, or price impact. BitMart does not guarantee recovery of full loan value and shall not be liable for any shortfall. You remain responsible for any outstanding balance even after liquidation is complete, including but not limited to any outstanding amount after the deduction of loan principal, accrued interests, liquidation penalties, and any applicable fees or costs.

7.5 Risk Reserve and Recovery Rights. BitMart may allocate a portion of liquidation proceeds to a risk reserve. In the event that liquidation fails to cover your liabilities, BitMart reserves the right to restrict your account activity and pursue recovery of the deficit through legal or platform-based enforcement mechanisms, including but not limited to offsetting from other balances held by you on BitMart.

7.6 Suspension of Liquidation in Exceptional Circumstances. BitMart may, in its sole discretion, suspend liquidation activities temporarily in response to severe market disruptions or operational outages. However, such suspension is not guaranteed and does not relieve you of your obligations.

8. Your Representations, Warranties, Agreements and Undertakings. 

By initiating a loan request on BitMart, you represent and warrant that:

• You satisfy the conditions as set out in clause 2.1 of these BitMart Crypto Loans Terms;
• You have received, read and understand these BitMart Crypto Loans Terms, the BitMart User Agreement, and any related Earn product terms including the nature and risks, and you are capable of assuming, and do assume, all risks associated with the BitMart Crypto Loans Services described herein and those risks described in the Risk Disclosure Statement;
• Except with the express written consent of BitMart, and except for any security or encumbrance created hereunder, no person has or will have any security, encumbrance or any rights over any pledged Collateral and/or any of your assets in any BitMart Account;
• You have complied with all Applicable Laws in all jurisdictions relevant to the BitMart Crypto Loans Services. Your use of the BitMart Crypto Loans Services and BitMart’s provision of such services to you is not unlawful under the laws of any jurisdiction to which you are subject;
• You have full legal capacity, power and all necessary authorisations to use the BitMart Crypto Loans Services;
• You have obtained all necessary authorisations and consents, and taken all necessary corporate actions, as applicable, to make all payments and deliveries contemplated by these BitMart Crypto Loans Terms;
• You are not impersonating any other person, operating under an alias or otherwise concealing your identity;
• These BitMart Crypto Loans Terms constitute legal, valid and binding obligations enforceable against you in accordance with their terms and you will not be in breach of any Applicable Law, authorisation, document or agreement by entering into or complying with obligations or exercising rights under these BitMart Crypto Loans Terms.

You undertake to:

• Promptly pay all of BitMart’s fees, interests, commissions and/or other charges as such rates and in such manner as BitMart may impose and stipulate from time to time with respect to the execution and/or performance of any Loan;
• Comply with all Applicable Laws in all jurisdictions relevant to the BitMart Crypto Loans Services;
• Use the Loan and the BitMart Crypto Loans Services in good faith and maintain your BitMart account in good standing at all times;
• Immediately notify BitMart if an event of Default listed in clause 2.5 above occurs or you have reason to believe that you cannot truthfully make or repeat the representations and warranties set out in this clause;
• At BitMart’s request, execute and do all such deeds, acts and things (including without limitation, the performance of such further acts or the execution and delivery of any additional instruments or documents) as BitMart may require for the purposes of these BitMart Crypto Loans Terms, including but not limited to perfecting BitMart’s rights to the Collateral provided by you, and bear such costs if you are the defaulting party in such situation.

You undertake not to:

• Provide false, inaccurate, incomplete, out-of-date or misleading information;
• Commit, conduct or perform any misrepresentation, fraud, malicious act or criminal activities;
• Transmit or upload any virus or other malicious software or program, or try to gain unauthorized access to other users’ accounts, the BitMart website, network, or systems relating to the operation of BitMart platform.

The above representations, warranties, agreements and undertakings shall be deemed renewed and repeated whenever you initiate a request for a Loan.

In case BitMart has detected that any information submitted by you is false, not up to date, or misleading, BitMart may, at its sole discretion, suspend the Crypto Loans Services and/or restrict or freeze your BitMart Account. You may be held personally and criminally liable for providing false or misleading information and/or documents to pass the due diligence process and any subsequent verification required by BitMart.

BitMart may suspend or terminate your access to Crypto Loans and freeze your account if any information you provide is found to be false, misleading, or outdated. Legal action may be taken for submitting falsified identity documents or contact information.

9. General Exclusion

BitMart has the sole discretion to determine which digital assets are eligible to be used as Loans or Collateral. BitMart may terminate a Loan without liability to you at any time if BitMart determines that a digital asset is no longer eligible to be used as a Loan or Collateral.

BitMart reserves the right from time to time in its sole and absolute discretion to set and adjust any applicable interest rates related to Crypto Loans Services or impose other fees, commissions, and charges in compliance with these Crypto Loans Terms and the BitMart User Agreement.

Granting any Loan to you does not make BitMart your trustee or investment adviser and no fiduciary relationship exists between us. We have no trust or other obligations in respect of your BitMart Account other than those expressly specified hereunder. You understand and agree that BitMart may charge you fees for the use of the Loan, if and to the extent applicable, at an amount as indicated in these Crypto Loans Terms and subject to revision from time to time, at our sole and absolute discretion.

10. Survival

Notwithstanding suspension or termination of your access to and use of the BitMart Crypto Loans Services, these Crypto Loans Terms shall continue to apply to you to the extent that there are any obligations or liabilities which remain to be performed or discharged by you under these Crypto Loans Terms.

In addition, if any provision of these Terms shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, the invalidity or unenforceability of such provision shall not affect the other provisions of these Crypto Loans Terms and all provisions not affected by such invalidity or unenforceability shall remain in full force and effect. Such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any Applicable Laws.

11. Transfer, Assignment or Delegation

These Crypto Loans Terms, and any rights and obligations granted hereunder, are limited, revocable, non-exclusive and personal to you and therefore may not be transferred, assigned or delegated by you to any third-party without BitMart’s written consent. BitMart reserves the right to assign, delegate or transfer these Crypto Loans Terms and the rights and obligations hereunder to any third party at any time without notice or your consent.

12. Definitions & Interpretation

12.1 Unless otherwise defined, capitalized words used in this “Terms and Conditions for BitMart Crypto Loans”  shall have the same meaning given to them in the BitMart User Agreement. The rules of interpretation set out in the BitMart User Agreement shall apply to these Crypto Loans Services, except that references to clauses are to clauses in these Crypto Loans Services Terms, unless otherwise stated.

“Accrued Interest” means the interest that has accumulated on the loan but has not yet been paid.

“Annualized Rate” means the interest rate applied to the loan on an annual basis, calculated as a percentage. The annualized rate represents the total interest that would accrue on a loan if the same rate were applied for an entire year. For BitMart’s Flexible Rate Loans, the annualized rate can range from 0% to 150%, depending on the market conditions and platform utilization.

“Borrowing” means lending the digital assets from the BitMart platform’s Flexible Savings product.

“Collateral” means the digital assets pledged by the borrower to secure repayment for your loan. These assets are frozen in your account as collateral for the loan. Collateral may be subject to BitMart’s rules and procedures for valuation, freezing, and liquidation.

“Collateral Discount Factor” means the discount rate assigned by BitMart based on the quantity of digital assets you pledge.

“Collateral Ratio” means the ratio calculated as follows:

Collateral Ratio = (The current total value of borrowed digital assets + accrued interest) / The current total value of the pledged assets.

The value of your borrowed digital assets = The quantity of the digital assets you intend to borrow * Coin price.

The value of your pledged digital assets = The quantity of the collateral * Coin price * Coin Discount Rate.

“Eligible Collateral” means certain Digital Assets shown at BitMart Crypto Loans Market, at its sole and absolute discretion, designates as eligible for use as collateral under the Crypto Loans Services.

“Flexible Rate Loans” means loans provided by BitMart that do not have a fixed maturity date, with interest rates that may vary based on market conditions and the specific loan parameters.

“Loan” means the digital asset loan provided by BitMart to the user, subject to the terms and conditions outlined in the Crypto Loans Services Terms.

“Loan-to-Value (LTV) Ratio” means the ratio of the loan amount to the value of the collateral provided by the borrower. BitMart may use this ratio to determine the loan amount, required collateral, and any necessary margin calls.

“Liquidation” means the process of selling or converting collateral in order to cover outstanding loan balances, including interest, fees, and other costs incurred by BitMart.

“Margin Call” means a notification sent to a user when their loan position exceeds the allowed risk threshold, indicating the need for additional collateral or partial repayment.

“Principal” means the initial amount of the loan, excluding any accrued interest. It is the original sum borrowed by the user, which must be repaid in full or in part as agreed upon in the loan terms.

“Repayment” means repaying the full or partial principal and accrued interest of the loaned assets. BitMart receives the full or partial repayment of the principal and interest accordingly.

“Utilization Ratio” means the percentage of the total loanable amount that has been borrowed.

12.2 References to the singular include the plural and vice versa. Headings are for convenience only and shall not affect interpretation. Words importing one gender shall include all genders.

12.3 Any reference to a statute or regulation includes any amendment or replacement thereof.