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Binance Liquid Swap User Agreement

2020-09-04 08:30
Binance Liquid Swap Service
Unless otherwise specified by Binance, after completing the registration and verification procedures of your Binance account, you also need to separately conclude a “Binance Liquid Swap User Agreement" with Binance, as well as opening a particular Binance Liquid Swap account and/or completing the relevant procedures before you could use this service. Please kindly read and agree with the follows:
A. When providing liquidity to the Binance Liquid Swap:
a. Users could enjoy the handling fee income generated by the Binance Liquid Swap transactions;
b. In accordance with the rules of the Binance platform, users unconditionally authorize Binance to allocate and distribute the handling fee income generated by the Binance Liquid Swap transaction in a reasonable manner;
c. The assets added by users could enjoy the handling fee income generated by the Binance Liquid Swap transactions. At the same time, the assets added by users could also enjoy the current interest of the token added (only applied when such token has the relevant current products). However, when the price of a certain currency fluctuates sharply in the market, the related shareholders may not be able to enjoy the same earnings. Therefore, the behavior of adding liquidity is not a risk-free operation with guaranteed earnings.
B. When using the Binance Liquid Swap service:
a. Before using the Binance Liquid Swap, users must confirm the unit price and the required handling fee. Once the transaction instruction is issued, the digital currency assets will be exchanged with the assets in the BSwap ("Transaction"). Once the transaction is executed, user's account will be updated. In order to complete the Transaction, user shall authorize Binance to temporarily control the digital currency disposed in the Transaction;
b. Users agree to pay the fees incurred by the Transaction (“Handling Fee'') to Binance, and Binance has the right to change the handling fee at any time at its discretion. The updated handling fee will apply to all sales and other related transactions that occur after the effective date of changing the handling fee. Users authorize Binance to deduct any applicable fees owed from their accounts in accordance with the terms of this User Agreement.
C. Users shall abide by relevant laws and regulations to ensure that the source of digital assets is legal and compliant.
D. Users shall fully understand the risks of digital asset investment. There may be gains or losses when using this service, users should be cautious and use this service within users’ capacity of funds.
E. Users agree that all investment operations performed in Binance represent their true investment intentions, and unconditionally accept the potential risks and benefits associated with their investment decisions.
F. Binance reserves the right to suspend and terminate the Binance Liquid Swap service. When necessary, Binance could suspend and terminate the BSwap service at any time.
G. Due to network delays, computer system failures and other force majeure situations, the execution of the BSwap service may be delayed, paused, suspended or deviated. Binance will do its best to ensure but will not promise the stable and effective operation of the execution system of the BSwap service. Due to the above factors, if the final execution result of the Binance Liquid Swap service is different from user's expectations, Binance will not assume any responsibilities.