Range Bound Terms & Conditions

Last updated: 1 March 2023

A. Range Bound

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

B. How to Subscribe

2. To Subscribe, you must agree to some or all of the following terms, which you will be prompted to accept on the Platform:

a. the Range Bound Digital Assets; 

b. the Underlying Digital Currency; 

c. the Rewards;

d. the Upper Price Range and Lower Price Range (the Price Range);

e. the Reference Price;

f. the Settlement Date;

g. the Subscription Period;

h. the Subscription Amount at Risk, if any.

3. Digital Assets that you use to Subscribe will be transferred from your Spot Account to your Range Bound Account.

4. When you Subscribe, you will not be permitted to cancel the subscription, withdraw or otherwise deal with any Range Bound Digital Assets, until the Settlement Date. 

C.  Range Bound

5. When you Subscribe, 

a. you agree that, during your Subscription Period, if the Reference Price is Within Price Range, on Settlement Date:

i. your Range Bound Digital Assets will be returned to your Spot Account; and

ii. Binance will transfer the Rewards to your Spot Account, in the same digital currency as the Range Bound Digital Assets;

b. if the Reference Price Exceeded Price Range at any time during the Subscription Period, on Settlement Date:

i. your Range Bound Digital Assets less the Subscription Amount at Risk, if any, will be returned to your Spot Account; and

ii. you will not be entitled to any Rewards.

6. Range Bound Digital Assets (less any Subscription Amount at Risk) and any Rewards will be transferred to your Spot Account within 6 hours of the Settlement Date.

D. Calculation of Rewards and the Subscription Amount at Risk

7. Rewards may be communicated on the Platform by referencing an annualised percentage rate (Potential APR). If so, Rewards are calculated as follows:

Range Bound Digital Assets [1 + Potential APR% Subscription Period / 365] 

8. That Subscription Amount at Risk may be communicated on the Platform by reference to a percentage of the Range Bound Digital Assets (Subscription Amount at Risk Percentage). If so, the amount of Range Bound Digital Assets that will be returned to your Spot Account is calculated as follows:

Range Bound Digital Assets * (1 - Subscription Amount at Risk Percentage)

9. You can elect to set the Subscription Amount at Risk to zero. 

10. All calculations are rounded down to 8 decimal places.

11. These examples are intended to illustrate how Range Bound operates. They are not intended to give any representation of the performance of particular Digital Assets. Nor are they intended to give any representation about the volatility of particular Digital Assets or the Digital Asset markets in general. The Digital Assets used in the examples are completely fictional.

E. Placing a stop or suspension on, or cancellation of your access

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

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

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

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

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

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

F. Account information and transaction records

13. 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.

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

a. 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

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

15. 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.

G. Technology disclaimers

16. Binance may, from time to time, suspend access to the Platform, Binance services, 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.

17. 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.

18. 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.

H. General Terms

19. 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.

20. These terms of use are to be read together with the Terms of Use. In the event of any conflict or inconsistency between these terms and the Terms of Use, the order of precedence in which the documents are to be read is first these terms, and then the Terms of Use.

21. 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.

22. 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.

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

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

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

I. Definitions

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, judgements, 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.

Exceeded Price Range means the Reference Price was (a) equal or greater to the Upper Price Range, or (b) equal to or lower than the Lower Price Range, at any time during the Subscription Period.

Lower Price Range means the BUSD price that the Reference Price must not be lower than, or equal to, during the Subscription Period, for you to be entitled to Rewards.

Platform means the digital platform that Binance 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.

Potential APR has the meaning given to it in clause 7.

Price Range has the meaning given to it in clause 2(d).

Range Bound Account means the Binance Account that you use for Range Range Bound transactions.

Range Bound Digital Assets means the Digital Assets that you use to Subscribe.

Range Bound Terms means these terms & conditions.

Reference Price means the BUSD/USDT Spot Price of the Underlying Digital Currency.
Rewards means the rewards that you are entitled to receive if any, in accordance with the Range Bound Terms.

Settlement Date means the day your Subscription ends at 08:00 UTC.

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

Spot Price means the current market price of a Digital Asset, as determined by Binance.

Subscribe means entering into a Range Bound transaction with Binance in accordance with these Range Bound Terms.

Subscription Amount at Risk means the Range Bound Digital Assets that will be retained by Binance if the Reference Price Exceeded Price Range.

Subscription Amount at Risk Percentage has the meaning given to it in clause 8.

Subscription Period means the time from when you Subscribe to the Settlement Date.

Upper Price Range means the BUSD price that the Reference Price must not be greater than, or equal to, during the Subscription Period, for you to be entitled to Rewards.

Underlying Digital Currency means the underlying digital currency selected by you when you Subscribe (e.g. BTC).

Within Price Range means the Reference Price was not (a) equal or greater than the Upper Price Range, or (b) equal or lower than the Lower Price Range, during the Subscription Period.