Article 1 Definition
Unless otherwise interpreted in context, the following terms shall have the following meanings:
1.1. This Agreement: refers to "LBank 'Demand Deposit' Service Agreement" and any clause, details, and information in its appendixes.
1.2. Party B: refers to LBK Blockchain Co., Limited, hereinafter, LBank platform or LBank, which is a global and innovative crypto-asset exchange that provides professional digital asset exchange and management solutions.
1.3. Party A: refers to authentication users that had already registered on LBank, and idle digital asset value-added services provided by the LBank platform.
1.4. Participation period: The period for which the participant entrusts the LBank platform to manage its idle digital assets on its behalf will be calculated from the date when Party A participates in the “Demand Deposit” current service. This is the validity period of this agreement.
1.5. Annual return: refers to the annual rate of return that participants can expect to participate in the "Demand Deposit" current service.
1.6. Working day: Refers to the working day (legal working day) stipulated by the laws of the People's Republic of China
1.7 Month: Refers to the natural month.
Article 2 Party A’s Rights and Obligations
2.1. From the date of signing this agreement, Party A shall be deemed to have voluntarily accepted the contents stipulated in all the terms of this agreement.
2.2. After the end of the service period, Party B transfers the digital assets directly to Party A's account based on Party A's actual income.
2.3. When Party A uses the "Demand Deposit" current service, it unconditionally authorizes Party B to reasonably allocate and issue assets quantification, asset hedging, asset arbitrage, and currency leverage lending.
2.4. Party A promises that all information provided to LBank is true, accurate, and complete.
2.5. Party A guarantees that the assets it uses for participation are its own assets of legal origin. If there is a dispute with a third party due to the attribution and legality of its assets, Party A shall be responsible for resolution; if any economic losses are caused to Party B and the borrower, Party A shall bear the responsibility.
2.6. Party A agrees that all investment operations carried out in Party B represent its true investment willingness and unconditionally accepts the potential risks and benefits brought by investment decisions.
2.7. If Party A changes relevant account information, e-mail address, phone number, and other relevant important information, it must notify Party B within three working days after the fact. Otherwise, Party A’s own losses due to Party A‘s failure to notify Party B in time will be borne by Party A.
2.8. Party A confirms and agrees that the written documents or electronic information provided by Party B related to this agreement shall be an integral part of this agreement.
Article 3 Party B’s Rights and Obligations
3.1. Party B shall provide Party A with information services and safeguard Party A’s lawful rights and interests in accordance with the principles of conformity with the law, integrity, voluntariness, and fairness.
3.2. Party B provides Party A with asset value-added related services. When Party B provides Party A with the aforementioned related services, Party A must provide necessary assistance (including but not limited to signing the relevant power of attorney).
3.3. Party B has the right to report or transfer Party A's assets related to the LBank platform to relevant departments, industry associations, or related databases in accordance with the requirements of the government, industry associations, and other relevant departments.
3.4. Party B shall keep Party A's information, assets, and other service-related affairs and materials confidential according to law.
Article 4 Application of Law and Jurisdiction
4.1. Applicable law. All matters of this agreement, including but not limited to the validity, interpretation, performance, and resolution of disputes of this agreement are subject to the relevant laws of the place where LBank is registered; if any clause under this agreement conflicts with its mandatory specifications, It should be interpreted and executed to the maximum extent not prohibited by these mandatory specifications, and any such agreement that conflicts with the mandatory specifications should not affect the validity of other terms of this agreement.
4.2. Dispute jurisdiction. All parties agree that, if a dispute occurs, regardless of the amount of the dispute, they will be submitted to the local arbitration committee for arbitration using the simplified procedures under the arbitration rules of the local arbitration committee. The arbitration award is final and binding on both parties.
4.3 During the arbitration period, the terms of this agreement that do not involve disputes must still be performed, and neither party may refuse to perform any of its obligations under this agreement on the grounds of resolving disputes.
Article 5 Other matters
5.1 Due to network delays, computer system failures, and other irresistible factors, the execution of the "Demand Deposit" current service may be delayed, suspended, suspended, or deviated. LBank will do its best to guarantee but does not promise that the "Demand Deposit" current service execution system runs Stable and effective, if the final execution result of the "Demand Deposit" current service due to the above factors is different from the customer's expectations, LBank does not assume any responsibility.
5.2. This agreement is established and effective after both parties sign it and terminate when both parties fulfill their obligations in accordance with this agreement. Party A entrusts Party B to keep all written documents or electronic information related to this agreement.