BNB Vault Terms of Use


1.     Instructions

1.1.  By Subscribing to the BNB Vault Service you acknowledge that you have read, understood and accepted all of the terms and conditions in these BNB Vault Terms, and you acknowledge and agree that you will be bound by and will comply with these BNB Vault Terms. If you do not understand and accept these BNB Vault Terms in their entirety, you should not participate.

1.2.  By Subscribing to the BNB Vault Service you can, in exchange for providing Binance with your BNB, earn BNB Vault Income.

2.     How to Participate in BNB Vault

2.1.  When you provide BNB to Binance for the purposes of the BNB Vault Service, you will be prompted to agree with some or all of the following terms on the Platform:

2.1.1.     the amount of BNB you will use to Subscribe;

2.1.2.     the Binance Simple Earn Agreement; and

2.1.3.     the terms & conditions that apply to Launchpool.

2.2.  Binance may specify a minimum amount of BNB that are required to Subscribe, and/or any Subscription Limits that apply.

2.3.  You may Subscribe or Redeem at any time, except between 23:50 UTC and 00:10 UTC.

3.     BNB Vault Income and BNB Vault Rewards

3.1.  BNB Vault Income is comprised of:

3.1.1.     Simple Earn Rewards calculated and distributed in accordance with the Simple Earn Terms & Conditions, where:         the BNB you use to Subscribe will be the Simple Earn Assets; and         the Simple Earn Offer will be Flexible Simple Earn; and

3.1.2.     additional Digital Assets generated from participating in Launchpool projects selected by Binance, from time to time.

3.2.  BNB Vault Income will begin to accrue daily at 00:00 (UTC) on the day after you Subscribe, and will be distributed daily from the third day to your Spot Account.

3.3.  From time to time you may also receive BNB Vault Rewards.

3.4.  Other than Simple Earn, Binance may add or remove any products which make up BNB Vault Income or BNB Vault Rewards at any time. These additional products that increase BNB Vault Income or BNB Rewards are discretionary, and may be available only for a limited time.

4.     Auto-Subscribe

4.1.  You may instruct Binance to automatically Subscribe to BNB Vault (Auto-Subscribe).

4.2.  If you elect to Auto-Subscribe, Binance will transfer all BNB in your Spot Account to BNB Vault at 02:00 (UTC), and 16:00 (UTC) each day.

4.3.  Binance reserves the right not to act on your instructions to Auto-Subscribe. It may refuse to act on these instructions for any reason, including but not limited to, that the Subscription Limit, if applicable, has been reached.

5.     Placing a stop or suspension on, or canceling, your Simple Earn Account and Spot Account

5.1.  Binance may stop, suspend or cancel your access to the Platform, impose limits to any Binance accounts, or suspend or cancel your ability to participate in BNB Vault, or delay certain transactions where:

5.1.1.     you do not provide additional information to verify your identity or source of funds as requested by Binance;

5.1.2.     Binance is required to do so by court order, to comply with any Applicable Laws (including anti-money laundering or sanctions laws);

5.1.3.     Binance is required to do so to comply with any direction or instruction from a government body or agency;

5.1.4.     Binance reasonably determines that any information you have provided to Binance is wrong, untruthful, outdated, or incomplete; or

5.1.5.     you do not provide additional information that we request to our reasonable satisfaction or in a timely manner.

6.     Account information and transaction records

6.1.  You will be able to view your account history on the Platform. You must review your account history carefully and let Binance know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible, and within 14 days after the date that your account history is provided or made available to you.

6.2.  We may rectify any error in your account history at any time, and reserve the right to void or reverse any transaction:

6.2.1.     involving or deriving from a manifest error (that is, any error, omission or misquote (whether an error of Binance or any third party) which is manifest or palpable, including a misquote by any representative of Binance taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or

6.2.2.     to reflect what we reasonably consider to be the correct or fair details of the transaction.

6.3.  We may be required under Applicable Law to share information about your accounts and use of the Platform with third parties. You acknowledge and agree that we are entitled to disclose such information.

7.     Technology disclaimers

7.1.  Binance may, from time to time, suspend access to your Binance Account, BNB Vault, or the Platform for both scheduled and emergency maintenance. Binance will make reasonable efforts to ensure that transactions on the Platform are processed in a timely manner, but Binance makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.

7.2.  Although Binance makes reasonable efforts to update the information on the Platform, we make no representations, warranties or guarantees, whether express or implied, that the content on the Platform, including information in relation to the Binance services, is accurate, complete or up to date.

7.3.  You are responsible for obtaining the data network access necessary to use the Binance services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use the Binance services, the Platform and any updates thereto. Binance does not guarantee that the Binance services, or any portion thereof, will function on any particular hardware or devices.  Binance services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.

8.     General Terms

8.1.  BNB Vault is available for BNB holdings only, no other Digital Assets.

8.2.  All terms and references used in these terms and which are defined and construed in the Binance Terms of Use (the Terms of Use), but are not defined or construed in these Terms, shall have the same meaning and construction in the Terms of Use.

8.3.  The terms are to be read together with the Terms of Use, the Simple Earn Terms & Conditions, and the terms and conditions that apply to Launchpool. In the event of any conflict or inconsistency between these terms, the order of precedence in which the documents are to be read is first these terms, then the Simple Earn Terms, the terms & conditions that apply to Launchpool, and then the Terms of Use.

8.4.  Binance will contact you using the details you provide to Binance. This may include contacting you by email, SMS, or telephone. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, Binance will not be responsible if you do not receive information, notices, or other important information from Binance.

8.5.  Binance may give notice by email to your email address. It is your responsibility to ensure that the email address is up to date and accurate. Notices may be given, and are deemed to be received, if sent to your email address, whether or not a notice of delivery failure is received.

8.6.  You may give us notices only as Binance directs, which may change from time to time.

8.7.  Any notices, consent, or other communication given under these Simple Earn Terms must be in writing, in English, and signed or otherwise authorized by the party giving it.

8.8.  For more information on Binance, you may refer to the company and license information found on Binance websites. If you have questions regarding these Simple Earn Terms, please contact Binance for clarification via the Customer Support team.

9.     Defined Terms

Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organization of which Binance is a member), that are applicable to the provision, receipt or use of the Binance services, or any other products or deliverables provided, used or received in connection with these terms.

Auto-Subscribe has the meaning given in clause 4.1.

BNB Vault Income has the meaning given to it in clause 3.1.

BNB Vault Rewards means additional earnings from other Binance services as described on the Platform.

BNB Vault Service means the Binance Service identified as “BNB Vault” on the Platform.

BNB Vault Terms means these terms.

Flexible Simple Earn has the meaning given to it in the Simple Earn Terms & Conditions.

Launchpool means the Binance Service identified as “Launchpool” on the Platform.

Platform means the digital platform that we or any of the Binance Operators may make accessible to you via a website, mobile app, a Binance API, or by such other means as Binance Operators may prescribe from time to time for the use of Binance services.

Redeem means instructing Binance to end your participation in the BNB Vault Service.

Simple Earn Assets has the meaning given to it in the Simple Earn Terms & Conditions.

Simple Earn Offer has the meaning given to it in the Simple Earn Terms & Conditions.

Simple Earn Rewards has the meaning given to it in the Simple Earn Terms & Conditions.

Spot Account means the Binance Account that you use for spot transactions.

Subscriptions Limits means the maximum amount of Digital Assets, users, or the quantity of any other matter that Binance may determine its sole discretion from time to time, that may be used to Subscribe to the BNB Vault Service.

Subscribe or Subscription means subscribing, or a subscription, to the BNB Vault Service.