Legal Terms

These User Agreement constitute an agreement between you (the "User") and BYDFi Fintech LTD ("BYDFi"), a company registered with Seychelles, with respect to the User's access to and use of the Application and/or the Site and use of any and all Services.

These Terms of Use contain important terms that should be carefully considered by users when choosing whether to access the Site, launch the Application or use any of the Services. Please read these Terms of Use, including the policies contained therein, carefully before agreeing to them

Users are solely responsible for understanding and complying with any or all laws, rules and regulations ("Laws") of any jurisdiction in which they reside, domicile, register, incorporate, access and use the Platform, and/or which apply in connection with the use of any or all of the services of the Platform.

These Terms of Use contain the Privacy Policy, the AML/KYC Policy and any other policies posted on the Application or the Website or otherwise made available to you ("Other Policies"), and by accepting these Terms of Use, you agree to and accept the Privacy Policy, the AML/KYC Policy and all other policies.

Users should read these Terms of Use in their entirety before accessing the Platform or using any of the Services.

By accessing the Platform and/or using any of the Services, the User agrees to accept and abide by any such Terms of Use. If the user does not agree or no longer agrees to accept and abide by any such terms of use, the user shall immediately exit the Platform and shall not use or immediately cease to use the Services.

1.1.The terms used in these Terms of Use shall be construed in accordance with the following definitions

1.1.1.Account: means an account registered by the user on the Platform.

1.1.2.App: means any mobile application developed and provided by BYDFi for the user to access the Account and the Services.

1.1.3.Base Cryptocurrency: means the first symbol in the trading pair.

1.1.4.Buyer: means any user who submits an Order to buy Cryptocurrency Contracts through the Platform, where such user replicates a long position in the Base Cryptocurrency and benefits from all rises in the price of the Base Cryptocurrency (and conversely bears the costs of all falls in the price of the Base Cryptocurrency).

1.1.5.Seller: means any user who submits an Order to sell Cryptocurrency Contracts through the Platform, where the user replicates a short position in the Base Cryptocurrency and benefits from all falls in the price of the Base Cryptocurrency (and conversely bears the costs of all rises in the price of the Base Cryptocurrency).

1.1.6.Cryptocurrency Contracts: means each contract with respect to trading of certain Cryptocurrency provided by the Platform from time to time.

1.1.7.Cryptocurrency: means peer-to-peer decentralized digital representation of value, including but not limited to bitcoins and ethers.

1.1.8.USDT: means Tether, a stable coin issued by Tether Limited, who claims that each token issued is backed by one United States dollar; it is designed to always be worth one United States dollar.

1.1.9.Deposit: means a Transaction involving a transfer of USDT to the Account.

1.1.10.Margin Trading: means leverage trading where the user may trade with borrowed USDT instead of the user’s own USDT (meaning opening a position using the user’s own USDT less than the actual amount required for such position).

1.1.11.Order: means the user’s instruction to buy or sell Cryptocurrency Contracts on certain conditions.

1.1.12.Platform: means an environment created by BYDFi that allows the trading of Cryptocurrency Contracts, including the Site and the App.

1.1.13.Services: means all and any service provided by BYDFi, including any Cryptocurrency trading services designed, managed and operated by BYDFi, but not including any OTC services provided by any OTC Service Provider as set forth under clause 2.4.

1.1.14.Site: means the website of BYDFi https://www.bydfi.com/, https://www.bydfi.in/

1.1.15.Commissions: means each fee payable to BYDFi for each completed Transaction.

1.1.16.Transaction Price: means the price paid by the Buyer or Seller with respect to each Transaction performed via the Services.

1.1.17.Transaction: means (i) any transfer of USDT by the user to the user’s Account (“Deposit Transaction”), (ii) any creation of any Cryptocurrency Contract among the users (“Trading Transaction”), or (iii) any Withdrawal Transaction.

1.1.18.User: means any person or any entity that uses the Services, agrees to comply with these Terms of Use and is a holder of an Account.

1.1.19.Withdrawal Transaction: means any transaction involving a transfer of USDT from the user’s Account to the user’s account opened in any other institution, where such transfer will be calculated with reference to the guideline published by {brand} at its sole discretion from time to time.

1.1.20.Where the context so admits, words denoting the singular shall include the plural and vice versa.

2.1.The Services allow all users to conducting trading activities in relation to the Cryptocurrency Contracts on the Platform.

2.2.Depending on the user’s place of residence, certain users may not be able to use part or all of the functions provided on the Platform. It is the user’s responsibility to follow the Laws.

2.3.The user acknowledges and agrees that, when completing any Transactions, BYDFi may (i) limit the difference in positions in orders of any Cryptocurrency Contract on the Platform at any time; (ii) hedge the difference in positions in orders of any Cryptocurrency Contract; and (iii) hedge such orders at other platforms for Cryptocurrencies around the world, in each case, at its sole discretion (the “Hedging Practices”).

2.4.For the avoidance of doubt, any services offered by any third party service provider in relation to any over-the-counter (“OTC”) services (the “OTC Service Provider”) shall not be regarded as part of the Services, and any such OTC Service Provider shall not be regarded as a party or any third party interest holder to these Terms of Use.

2.5.BYDFi reserves the right to choose the market and some countries may restrict or refuse to provide the service.

3.1.The user has the right to access the Platform and use the Services, provided that the user has agreed to comply and actually complies with these Terms of Use.

3.2.The user undertakes to comply with any and all applicable Laws related to the use of the Services.

3.3.The user undertakes to monitor all and any changes to the user’s Account, including but not limited to the balance of the Account.

3.4.The user undertakes to immediately (i.e. right after the moment of discovery) inform BYDFi about any unusual, suspicious, unclear or abnormal changes to the user’s Account. In case of late notification or non-notification, the user will be liable for the breach of these Terms of Use and BYDFi has the right to take any actions accordingly, including but not limited to reporting to the relevant state or national authorities.

3.5.The user agrees that, whenever the Transaction is made, the Platform sends and receives the amount in USDT to/from the Buyer’s and the Seller’s Accounts opened under the user’s name and on the user’s behalf.

3.6.The user undertakes to notify BYDFi immediately of any unauthorized use of the user’s Account or password, or any other breach of security by email addressed to cs@bydfi.com. Any Services provided to the user who violates the rule under this Section 3.6 may be terminated, and the user may be held liable for any losses incurred by BYDFi or any other user of the Site.

3.7.The user undertakes not to use the Services to perform any kind of criminal activity, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations or activities, or malicious hacking.

3.8.The user is responsible for and shall indemnify BYDFi any and all damages caused, and all liability actions brought against BYDFi for any infringement of any third-party rights or violation of any applicable Laws in relation to the user’s access to the Platform or use of any of the Services.

3.9.The user is solely responsible for determining whether any contemplated Transaction is appropriate for the user based on the user’s personal goals, financial status and risk willingness.

4.1.The user hereby expressly represents, warrants and covenants that the user:

(i)the user has followed and will follow the Laws;

(ii)is at least 18 years old (or older as required by the applicable Laws to be deemed as an adult), if the user is a natural person; the Use is an entity duly formed, validly existing and in good standing under the Laws of it formation, and has the power and authority to own, lease and operate its properties and carry on its business as now conducted, if the user is an entity;

(iii)the user has the required rights, powers, capacity, qualifications, licenses, approvals, permits, filings, knowledge, experience, at least to the extent required the applicable law, to participate in and consume the Transactions;

(iv)execution, delivery and performance by the user of these Terms of Use and participation in and consummation of the Transactions is within the power of the user and has been duly authorized by all necessary actions on the part of the user (if the user is an entity). These Terms of Use constitute a legal, valid and binding obligation of the user, enforceable against the user in accordance with their terms, except as limited by bankruptcy, insolvency or other Laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity;

(v)execution, delivery and performance by the user of these Terms of Use and participation in and consummation of the Transactions are not in violation of and will not violate (i) its articles of association, bylaws or other constitutional document s(if the user is an entity), (ii) any statute, rule , regulation, judgment, administrative order or decision applicable to the user, or (iii) any material contract, instrument or other document to which the Company is a party or by which it is bound;

(vi)no consent or approval is required in connection with execution, delivery and performance by the user of these Terms of Use and participation in and consummation of the Transactions, other than the user’s internal approvals, if the user is an entity.

4.2.The user covenants that the user will only access the Platform and/or use the Services to participate in and consume the Transactions in accordance with the conditions set forth in these Terms of Use.

4.3.The user represents, warrants and covenants that any amount in USDT deposited to the Account belongs to the user and is derived from legal sources. Upon request of BYDFi, the user shall promptly provide any necessary evidence showing the source of the funds.

4.4.The user covenants that the user will only withdraw any amount in USDT from the user’s Account to the user’s USDT wallet.

4.5.The user represents, warrants and covenants that all Transactions should be made by using the user’s Account and own funds, and the user will not be entrusted or accept commissions from others to conduct any Transaction on the Platform on behalf of any other person.

4.6.The user agrees that the user’s personal data and identifiers may be shared with properly authorized third parties, for the reasons of legal obligations including but not limited to prevention of crimes, tax purposes and/or provision of Services requested by the user.

4.7.The user acknowledges and agrees that once the orders to buy or sell Cryptocurrency Contracts are received by BYDFi, such orders may not be cancelled or reversed, and BYDFi may hold all Cryptocurrency Contracts acquired by each user in the user’s Account and on the respective user’s behalf.

4.8.User acknowledges and agrees that BYDFi shall not be liable for any loss or liability arising out of or in connection with any act or omission of any marketing organization or individual who is not an employee of BYDFi and does not constitute its agent.

5.1.BYDFi has the right to suspend the user's Account and/or block any funds contained therein in case of non-fulfilment or unduly fulfilment by the user of any of these Terms of Use, provided that BYDFi shall promptly notify the user the reasons of the suspension and/or the block.

5.2.BYDFi undertakes to provide the Services with commercially reasonable efforts and care.

5.3.To the extent permitted by Laws, BYDFi is not responsible for any loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, or indirect, special, exemplary, consequential or punitive damages.

5.4.BYDFi is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why the Platform is unavailable at any given time.

5.5.BYDFi is not responsible for the delay in processing payments caused by the fault of any third parties or operators of such Transactions.5.6. In case of any fraud or non-compliance with law, BYDFi may report all relevant information, including names, addresses of the user and all other requested information, to the relevant authorities dealing with such fraud or non-compliance. The user acknowledges that the user’s Account may be frozen at any time at request of any competent authority investigating a fraud or any other illegal activity.

5.6.In case of any fraud or non-compliance with law, BYDFi may report all relevant information, including names, addresses of the user and all other requested information, to the relevant authorities dealing with such fraud or non-compliance. The user acknowledges that the user’s Account may be frozen at any time at request of any competent authority investigating a fraud or any other illegal activity.

5.7.Nothing in these Terms of Use excludes or limits the responsibility of BYDFi for fraud, death or personal injury caused by BYDFi’s negligence or breach of these Terms of Use implied by operation of the law or any other liability which may not be limited or excluded by law.

6.1.All buy and sell orders in relation to Cryptocurrency CDFs made on the Platform, will be managed in an anonymous manner so that Buyers and Sellers cannot be acquainted with each other.

6.2.BYDFi may conduct the Hedging Practices at its sole discretion.

6.3.The Transaction Price is calculated on a weighted-average basis according to the orders actually hedged in the course of the Hedging Practices.

6.4.In extreme circumstances, including without limitation any Cryptocurrency market irregularities or collapse, BYDFi may, at its sole discretion, terminate any orders (whether executed or hedged), or any user may not make any buy and seller order in relation to Cryptocurrency CDFs on the Platform, for any period of time as determined by BYDFi.

6.5.In light of the special features of the Platform and Cryptocurrency Contracts, the Platform may take any action necessary to maintain the stability of the Platform, including without limitation, limiting the rights of the user in using their respective Accounts or trading any Cryptocurrency Contract on the Platform, at BYDFi sole discretion.

6.6.In light of the characteristics of the Cryptocurrency market, in order to ensure the interests of the Platform and the users, the Platform may, at its sole discretion, reduce or increase the types of Cryptocurrency that can be traded under the Cryptocurrency Contracts on the Platform; when the Cryptocurrency under an user’s existing Cryptocurrency Contract is no longer traded on the Platform, the Platform will no longer allow such Cryptocurrency Contract to hold the position.

7.1.All content on the Platform is property of BYDFi and is protected by copyright, patent, trademark, trade secret and any other applicable Laws, unless otherwise specified hereby.

7.2.The trademarks, trade names, service marks and logos of BYDFi and others used on the Platform (hereinafter the “Trademarks”) are the properties of BYDFi and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, and video and audio materials used on the Platform are the properties of BYDFi. The Trademarks and other content on the Platform should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from the Platform on any other site or a networked computer environment for any purpose other than participation in and consummation of the Transaction is strictly prohibited; and any such unauthorized use may violate BYDFi copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties. The user shall not copy, modify, reverse engineer or attempt to extract the source code of any software used by BYDFi in setting up the Platform and/or providing the Services.

7.3.BYDFi supports open source software. Certain software used in the Platform or the Services may be offered under an open source license that BYDFi will make available to the users. There may be provisions in the open source license that expressly override some of these Terms of Use.

7.4.BYDFi supports the protection of intellectual property. If you would like to submit (i) a trademark claim for any violation of a mark on which you hold a valid, registered trademark or service mark, (ii) a copyright claim for any material on which you hold a bona fide copyright, or (iii) any other intellectual property claims, such as patent infringements, please send us an email to cs@bydfi.com.

8.1.Identification and verification procedures ("Know Your Customer" or "KYC") are required for all the Transactions. All existing and new users of the Platform must pass the verification procedure. BYDFi reserves the right to limit the functionality of the Platform to the users who have not passed the verification procedure. If the user refuses to provide required documents and information for KYC, BYDFi reserves the right to immediately terminate the provision of Services to such user.

8.2.The user undertakes to provide BYDFi with correct and relevant documents and personal information contained therein. In case the user provides counterfeit documents and false personal information, BYDFi may suspend, cancel or terminate the user’s Account and freeze the funds contained therein as it thinks fit.

8.3.The user hereby authorizes BYDFi to, directly or indirectly (through third parties), make any inquiries as BYDFi consider necessary to check the relevance and accuracy of the information provided for the verification purpose. Personal data transferred will be limited to the necessary data with security measures in use to protect such data.

8.4.The user hereby agrees to comply with the Anti-Money Laundering and Know Your Customer Policy in force published by BYDFi from time to time.

9.1.The Platform is for the user's personal and non-commercial use only. BYDFi is vigilant in maintaining the security of the Platform and the Services. By accessing the Platform or using the Services, the user agrees to provide BYDFi with current, accurate and complete personal information as prompted in the course of the registration process and to keep such information updated.

9.2.The user is allowed to register only one Account on the Platform. Thus, any additional Account may be suspended.

9.3.The user agrees that the user will not use any Account other than the user’s own or access the Account of any other user at any time or assist others in obtaining unauthorized access or conducting activities related to any Transaction.

9.4.BYDFi reserves the right to set up amount limits for the Account deposit/withdrawal/balance. BYDFi may also set up daily, monthly and per one-transaction amount limits.

9.5.The user is responsible for maintaining the confidentiality of information on the user’s Account, including, but not limited to the user’s password, email, wallet address, wallet balance and of all activities including Transactions made via their Account. If there is any suspicious activity related to the user’s Account, BYDFi may request additional information from the user, including authenticating documents, and may suspend the Account and/or freeze the funds therein during the review. The user hereby agrees to comply with these security requests or accept the suspension and the freeze.

9.6.Any creation or use of the Account without obtaining a prior express permission from BYDFi will result in immediate suspension of all such Accounts and the user’s Accounts, as well as all pending buy/sell orders issued from those Accounts. Any attempt to do so or to assist others (users or other third parties) in doing so, or any distribution of instructions, software or tools for such purpose will result in termination of those unauthorized Accounts and the user’s Accounts. Termination is not an exclusive remedy for such a violation and BYDFi may decide to take further action against the user.

10.1.The Platform allows the user to submit the Orders to buy or sell Cryptocurrency Contracts.

10.2.The user recognizes that the Order should only be submitted after careful consideration and the user understands and accepts consequences of its execution. The user agrees that as soon as the Order is executed, such transaction is irreversible and may not be cancelled. Once any Order is executed, such Order will be hedged without delay through Hedging Practices without any prior notice to the Seller and the Buyer and will be considered to have taken place at the execution date and time.

10.3.The user acknowledges and agrees that in case the destination tag is not specified or incorrectly indicated (in particular, XRP and XLM) or the reference number is incorrectly specified (for USDT transactions), the user may lose the Deposit or the processing speed of such requests will be made with a lower priority.

10.4.BYDFi reserves the right to change the minimum and maximum order amounts, which will appear on the trade page when placing an Order.

10.5.The user acknowledges and agrees that the Deposit and Withdrawal Transaction in USDT may be delayed due to certain OTC verifications and the inherent nature of the Cryptocurrency networks.

10.6.If the user discovers suspicious transaction or activity, including but not limited to unknown deposits and withdrawals, on the user’s Account that was not initiated by the user, the user shall immediately notify BYDFi of this fact and follow the instructions sent by BYDFi. Otherwise, BYDFi reserves the right to suspend the Account and freeze the funds therein until the end of investigation.

10.7.BYDFi may cancel or recall any executed Withdrawal Transaction based on reasonable requests of financial institutions, including but not limited to OTC institutions. In such cases the user obliges to cooperate with BYDFi in order to find the reasons for such request.

10.8.The minimum deposit amount for USDT is 10. If the amount is less than specified, the funds will not be credited to the user’s Account.

11.1.Margin Trading is available for long and short positions, subject to specific fees, limits and conditions imposed by BYDFi.

11.2.BYDFi may charge fees for opening and/or closing of a position, and an Over-night Fee.

11.3.The user acknowledges and agrees that in order to avoid the balance of the Account to go negative, BYDFi has the right to close any open position, with or without any notification to the user when the price of any Base Cryptocurrency meets the ‘stop loss price’ value, as specified by the user while opening a position.

11.4.The user acknowledges and agrees that in order to lock in their profits, BYDFi has the right to close any open position, with or without any notification to the user when the price of any Base Cryptocurrency meets the ‘take profit price’, as specified by the user while opening a position (the “Take Profit Price”). The user further acknowledges and agrees that the highest Take Profit Price (the “Highest Take Profit Price”) any user may set when opening any position at the Platform is subject to the limits on the Highest Take Profit Price as imposed by BYDFi from time to time.

11.5.BYDFi reserves the right to close any open position without any notice to the user if the user has no sufficient funds to pay relevant fees.

11.6.The user acknowledges and agrees that when any position is about to close, the Platform will only display an approximate closing price, which may not be the exact final closing price for the reasons of, including without limitation, instant changes in the Cryptocurrency Contract market, and a gap in the candlestick chart of the Cryptocurrency.

12.1.The platform has adjusted the rules for charging the funding fee. The contract orders will be charged or receive the funding fee at 08:00, 16:00, and 00:00. (UTC+8)

12.2.The funding fee will be deducted directly from the user's account balance.

13.1.The user agrees to pay BYDFi the Transaction Fee for each completed Transaction.

13.2.Prior to trading, the user must consider the Transaction Fee rates published on the Site, the App and these Terms of Use. However, BYDFi reserves the right to change the Transaction Fee rates from time to time by publishing updates on the Site, the App and these Terms of Use.

13.3.The amount of Transaction Fee is automatically charged off in the form of USDT from the Deposit when such user opens a position. The user is responsible for keeping the user’s account adequately funded for both Margin Trading and Transaction Fee, when opening a position. The Order of Cryptocurrency Contracts would not be executed unless such user has adequate funds for Margin Trading and Transaction Fee.

13.4.BYDFi has the sole discretion in setting up the options for the leverage multiple and the charge ratio and changing them from time to time.

13.5.The transaction fee, other charges, and the charging procedure can be changed or reviewed unilaterally by BYDFi at its sole discretion from time to time and such changes shall become effective once they are posted on the Site or the App.

14.1.For all financial calculations BYDFi may use the rounding policy in the favor of the Platform. BYDFi rounds the USDT to the second digit after the separator. The rounding policy for other Cryptocurrencies varies depending on the respective Cryptocurrencies.

14.2.For the purpose of the process optimization, Transactions on the Platform with regard to some items (including, but not limited to, USDT and other Cryptocurrencies) will not be reflected at the user’s Account and will appear as soon as a unit is in whole in accordance with the rounding standards.

15.1.BYDFi reserves the right to suspend or terminate the user's Account and/or freeze the funds therein at any time if BYDFi believes to be required to do so by Laws or in order to comply with recommendations from a relevant government authority or recognized body for the prevention of financial crimes.

15.2.It is strictly forbidden to use the Account for any illegal purposes. BYDFi is entitled to report any suspicious activity to the relevant administration, supervision or law enforcement units.

15.3.The user shall not use the Account or the Services for any transaction in connection with:

(i)money laundering, terrorist financing, proliferation of weapons of mass destruction;

(ii)human trafficking;

(iii)any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;

(iv)any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;

(v)archaeological findings;

(vi)drugs, narcotics or hallucinogens;

(vii)weapons of any kind;

(viii)illegal gambling services;

(ix)ponzi, pyramid or any other “get rich quick” schemes;

(x)goods that are subject to any trade embargo;

(xi)media that is harmful to minors and violates Laws and, in particular, the provision in respect of the protection of minors;

(xii)body parts or human remains;

(xiii)protected animals or protected plants;

(xiv)weapons or explosive materials;

(xv)any other illegal goods, services or transactions.

16.1.The user is responsible for maintaining the confidentiality of the user's Account's credentials, including, but not limited to a password, email, wallet address, balance and of all activity including Transactions made through the Account.

16.2.BYDFi personnel will never ask any user to disclose such user’s password. Any message the user receives or website that the user visits and asks for the user’s password, other than the Site and the App, should be reported to BYDFi.

16.3.It is advisable to change the user’s password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to the Account. BYDFi also advises the user not to choose a password that could be easily guessed from information someone might know or gather about the user or a password that has a meaning. The user shall never allow anyone to access the user’s Account or watch the user accessing the user’s Account.

16.4.If the user has any security concerns about the user’s Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, the user is advised to change the password. The user must contact BYDFi support service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Account, login details, password or other security features. Any undue delay in notifying BYDFi may not only affect the security of the Account but may result in the user being liable for any losses as a result. If the user suspects that someone else accessed the user’s Account, the user should also contact an appropriate government agency and report the incident.

16.5.The user must take due care to ensure that the user’s e-mail account(s) and cellphones are secured and only accessed by the user, as the user’s e-mail address and cellphones may be used to reset passwords or to communicate with the user about the security of the Account.

16.6.Two-factor authentication must be enabled in order to make any Withdrawal Transaction.

17.1.The user may terminate the Terms of Use and close their Account at any time, following settlement of any pending Transactions and any other payable to BYDFi or any dispute with BYDFi.

17.2.BYDFi may, by giving notice, at its sole discretion terminate the user’s access to the Platform and to the user’s Account, including without limitation, BYDFi right to: limit, suspend or terminate the Services and the users’ Accounts, prohibit access to the Services, delay or remove hosted content and take technical and legal steps to keep the users off the Platform, with or without cause. In particular, BYDFi may, in appropriate circumstances and at BYDFi discretion, suspend or terminate Accounts of users for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another user’s Account or providing assistance to others’ attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Services to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, (7) upon the request of law enforcement or other government agencies, or (8) conduct any trading activity for and on behalf of or entrusted by any third party through the user’s Account by accepting such third party’s funds or commissions through offline channels or otherwise, if deemed to be legitimate and compelling by BYDFi , acting at its sole discretion.

17.3.BYDFi also reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of six (6) months or more and/or to modify or discontinue the Platform or Services. The user agrees that BYDFi will not be liable to such user or to any third party for such termination of their Account or access to the Platform.

17.4.The suspension or termination of the Account shall not affect the payment obligation with respect to the Commissions due for past Transactions. Upon the termination, the user shall provide a Cryptocurrency address to accept the transfer of the funds in the Account. BYDFi shall transfer the funds upon the user’s request and provision of the Cryptocurrency address to which the funds shall be transferred to in a time frame specified by BYDFi.

18.1.Other than expressly set out in these Terms of Use, neither BYDFi nor its suppliers, service providers, contractors or distributors make any specific promises about the Services, including without limitation any commitment about the content within the Services, the specific functions of the Services, their reliability, availability or ability to meet your specific needs. BYDFi provides the Services "as is". To the extent permitted by law, BYDFi excludes all implied warrants (merchantability, fitness for a particular purpose, non-infringement, etc.) in connection with the Platform or the Services.

18.2.BYDFi will use commercially reasonable efforts to keep the Platform up and running; however, all online services suffer from occasional disruptions and outages and BYDFi is not liable for any disruption or loss the user may suffer as a result of such disruption and outages. Thus, BYDFi does not provide any guarantees that access to the Platform will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.

18.3.BYDFi will use commercially reasonable endeavors to ensure that the user can normally access the Platform in accordance with these Terms of Use. BYDFi may suspend any part of the Platform for maintenance and will make commercially reasonable efforts to give the user a notice. The user acknowledges that giving a notice may not be practical on certain occasions, such as emergencies.

BYDFi shall provide the App, which can be used to access the Account. The use of the App is also subject to these Terms of Use.

BYDFi does not provide any financial, investment or legal advice in connection with the Services provided by BYDFi. BYDFi may provide information on the price, range, volatility of Cryptocurrencies and events that have affected the price of Cryptocurrencies, but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Cryptocurrency Contracts is the user's decision and BYDFi will not be liable for any loss suffered. The user may seek financial, investment or legal advice from the user's advisors or reply on information or data provided by others to participate in and/or consummate the Transactions.

21.1.The user undertakes to pay all of the user's taxes and duties, which may result from the use of the Services, participation in and/or consummation of the Transactions and such taxes and duties shall be paid pursuant to the applicable law.

21.2.BYDFi shall not be liable for any violation by the user arising out of the user’s obligations to calculate and pay taxes and duties.

22.1.BYDFi reserves the right to send notices to and communicate with the user by any means of communication available to BYDFi, including without limitation the contact means provided by the user.

22.2.The user expressly agrees to receive any notices in electronic form and to be bound by them, if so is required by these Terms of Use.

23.1.These Terms of Use shall be governed by and construed in accordance with the laws of the Seychelles, unless otherwise expressly provided.

23.2.Any dispute, controversy or claim arising out of, or in relation to, these Terms of Use, including the validity, invalidity, breach, or termination thereof, based on contract, tort or any other theory, based on law or equity, shall be resolved by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Chambers’ Arbitration Institution (the “Arbitration Rules”) in force on the date on which the Notice of Arbitration is submitted in accordance with the Arbitration Rules.

23.3.If any portion of these Terms of Use shall be deemed invalid, void or for any reason unenforceable, such portion shall be deemed severable and shall not affect the validity and enforceability of any remaining portion.

In no event shall BYDFi and its officers, directors, employees, and third party service providers be liable to the user or any other person or entity for anyindirect, incidental, special, punitive or consequential damages whatsoever, including any that may result from (i) accuracy, completeness or content of the platform or the services, (ii) accuracy, completeness or content of any sites linked (through hyperlinks, banner advertising or otherwise) to the platform, (iii) the services found at the platform or any sites linked (through hyperlinks, banner advertising or otherwise) to the site, (iv) property damage of any nature whatsoever, (v) third-party conduct of any nature whatsoever, (vi) any unauthorized access to or use of the servers and/or any and all content, personal information, financial information or other information and data stored therein, (vii) any interruption or cessation of services to or from the platform or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (viii) any viruses, worms, bugs, trojan horses or the like, which may be transmitted to or from the platform or any sites linked (through hyperlinks, banner advertising or otherwise) to the site, (ix) any user content or content that is defamatory, harassing, abusive, harmful to minors or any protected class, pornographic, "x-rated", obscene or otherwise objectionable and/ or (x) any loss or damage of any kind incurred as a result of the user's use of the platform or the services found at the platform, whether based on warranty, contract, tort or any other legal or equitable theory and whether or not BYDFi is advised of the possibility of such damages. in addition, the user specifically acknowledges and agrees that any cause of action arising out of or related to the platform or the services found at the site must be commenced within one (1) year after the cause of action accrues, otherwise such cause of action shall be permanently barred. in addition, the user specifically acknowledges and agrees that in no event shall BYDFi total aggregate liability exceed the total amount paid by the user for the services that are the subject of the cause of action. the foregoing limitation of liability shall apply to the fullest extent permitted by law and shall survive any termination or expiration of these terms of use or the user's use of the site or the services found at the site.

The user agrees to protect, defend, indemnify and hold harmless BYDFi and its officers, directors, employees and third party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorneys fees) imposed upon or incurred by BYDFi directly or indirectly arising from (i) the user's use of and access to the Platform or the Services; (ii) the user's violation of any provision of these Terms of Use or the policies or agreements herein; and/or (iii) the user's violation of any third-party right, including without limitation any intellectual property or other proprietary right. The indemnification obligations under this section shall survive any termination or expiration of these Terms of Use or the user's use of the Platform or the Services.

BYDFi reserves the right to amend or modify any portion of these Terms of Use at any time by publishing the revised version of these Terms of Use on the Platform. The changes will become effective and shall be deemed accepted by the user, the first time the user accesses the Platform or uses the Services after publishing the revised Terms of Use and shall apply on a going-forward basis with respect to any activity initiated after publishing. In the event that the user does not agree with any such modification, the user's sole and exclusive remedy is to terminate the use of the Services and close the Account. The user agrees that BYDFi shall not be liable to the user or any third party as a result of any losses suffered by any modification or amendment of these Terms of Use.

If BYDFi is unable to perform the Services outlined in these Terms of Use due to the factors beyond its control including but not limited to the event of force majeure, change of law or change in sanctions policy, BYDFi will not owe any responsibility to the user with respect to the Services provided hereunder and for a time period coincident with the event.

The Platform and the Services may contain links to third-party websites that are not owned or controlled by BYDFi. BYDFi assumes no responsibility for the content, terms and conditions, privacy policies or practices of any third-party websites. In addition, BYDFi does not censor or edit the content of any third-party websites. By using the Platform or the Services, you expressly release BYDFi from any and all liability arising from the user's use of any third-party website. Accordingly, BYDFi encourages the user to be aware of and to review the terms and conditions, privacy policies and other governing documents of any other website that the user may visit.

These Terms of Use are only for the relationship between the user and BYDFi and do not create any third party rights in any nature.

If any provision in these Terms of Use is held to be invalid, void, or unenforceable in one jurisdiction, such provision shall nevertheless continue in full force without being impaired or invalidated in any way in other jurisdictions and the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way.

BYDFi describes the general and specific risks associated with Leveraged Tokens as part of BYDFi’s products and services you may enter into from time to time.You must read this statement in accordance with BYDFi Terms of Use. BYDFi offers Leveraged Tokens as products and services to you on the basis that you understand the risks involved.

Leveraged token investment (trading) is a risky investment. Although BYDFi Leveraged Tokens generally have lower risks and costs than derivative products, they are not risk-free investments. As a trader, you must acknowledge and agree that you access and use BYDFi Leveraged Tokens at your own risk. You should fully understand the risks associated with BYDFi Leveraged Tokens and be solely responsibility and liable for any and all trading and non-trading activity on your account. Please do not make any transactions or investments that are beyond your financial capacity.

Investors or traders with longer-term investment horizons shall purchase and hold the BYDFi Leveraged Tokens at their own risk. There is a possibility that the value of BYDFi Leveraged Tokens can become zero (0) and cannot be recovered due to inherent market risks, high fees, slippage, rebalance algorithm frontrunning and any other perceived unknown risks associated with BYDFi Leveraged Tokens.

BYDFi Leveraged Tokens are designed to be unpredictable in rebalance to reduce the vulnerability of being attacked by algorithms on the market. Unlike conventional leveraged tokens (not managed by BYDFi), BYDFi Leveraged Tokens do not maintain a constant leverage ratio. Therefore, BYDFi Leveraged Tokens only rebalance during extreme market movements.The rebalancing of positions of BYDFi Leveraged Tokens is governed by BYDFi’s proprietary algorithms with the aim to maximize correlation between BYDFi Leveraged Tokens and the underlying margin leverage position without profit guarantees.

Before investing or trading in BYDFi Leveraged Tokens, you should clearly understand all commissions, fees and other charges for which you will be liable. These fees will affect your expected earnings.BYDFi reserves the right to modify or change the fees mentioned above at any time and at its sole discretion. Any such updated fees will apply prospectively to any trades or other transactions that take place following the effective date of such updated fees. You authorize BYDFi to remove any amounts from your account for any applicable fees owed by you under these Terms.

Due to the nature of BYDFi Leveraged Tokens’ centralized creation and market liquidity, BYDFi strives to provide adequate market liquidity and to make BYDFi Leveraged Tokens available at a fair price.

Delisting refers to the suspension of all trading and business of a product or asset that has already been listed on an exchange.

Delisting may be voluntary or involuntary. The reasons for delisting may be due to a project's decision to cease operations, failure to meet listing requirements, lack of liquidity, hard fork, or reverse split resulting in new coins. There are many factors that may affect an exchange's decision to delist a listed asset.

When an asset is delisted, all trading pairs associated with it will be suspended and removed. Prior to the suspension of trading, the exchange will issue an official announcement to notify all users. Before the delisting, users can still trade until the trading is suspended.

It should be noted that during the 10 minutes prior to the suspension of trading, users are not allowed to open new positions. Users are only allowed to close positions during this period.

We reserve the right to suspend trading 10 minutes in advance. The precise time for suspending trading shall be subject to the announcement.

If users choose to hold their positions until trading is suspended, the system will automatically settle the position. All unrealized profits and losses will be calculated and converted into realized profits and losses during settlement

China, Pakistan, Bangladesh, Kazakhstan, United Kingdom, Iran

This Policy relates to BYDFi’s anti-money laundering and countering the financing of terrorism (“AML/KYC”) policies and procedures. This Policy is solely for the purpose providing general information and is not, in any way, legally binding either on BYDFi and/or on any other person(s) (natural or otherwise).

BYDFi is committed to supporting AML/KYC efforts, in principle, we are committed to, amongst other things:

exercising due diligence when dealing with our customers, natural persons appointed to act for our customers ‘behalf;

we will, to the fullest extent possible, assist and cooperate with relevant law authorizes to prevent the threat of money-laundering antiterrorism-financing.

Risk Assessment

In this regard, we would:

record and/or collect files regarding: the identity of the customer; the country or jurisdiction in which the customer comes from or is located; and ensure that, within the scope of our knowledge, skills and abilities, our customers are treated in accordance with the list of designated individuals and entities , related persons of the client, natural persons appointed to act on behalf of the client, and beneficial owners of the client for evaluation and screening. The list includes the following categories: Democratic People's Republic of Korea; People's Republic of Congo; Iran; Libya; Somalia; South Sudan; Sudan; Yemen; United Nations 1267/1989 Al Qaeda List; United Nations 1988 Taliban List; Annex 1 of the Suppression of the Financing of Terrorism Act (325.) Risk Mitigation

Risk Mitigation

If identified, we shall not deal with any persons identified in the List of Designated Individuals and Entities.

We shall be properly advised, in relation to, identifying and assessing the money laundering and terrorism financing risks that may arise in relation to:1. the development of new products and new business practices, including new delivery mechanism;2. the use of new or developing technologies for both new and pre- existing

We shall especially pay special attention to any new products and new business practices, including new delivery mechanism, and new or developing technologies, that favour anonymity such as digital tokens (whether security, payment and/or utility tokens) that favour anonymity.

We do not open, maintain or accept anonymous accounts or accounts in fictitious names.

We do not establish business relations with, or undertake a transaction for a customer that we have any reasonable grounds to suspect that the assets or funds of a customer are proceeds of drug dealing or criminal conduct. We shall lodge a Suspicious Transaction Report and extend a copy to the relevant Financial Intelligence Unit for such transactions.

We perform Customer Due Diligence:

when we establish business relations with any customer; when we undertake any transaction for any customer whom we had not established business relations with; when we effect or receive digital payment tokens by value transfer for any customer whom we had not established business relations with; when we have suspicion of money-laundering or terrorism financing; when we have doubts about the veracity or adequacy of any information.

the countries or jurisdictions that our customers are from or in;

When we suspect that there are 2 or more transactions are or may be related, linked or the result of a deliberate restructuring of an otherwise single transaction into smaller transactions in order to evade the Prevention of Money Laundering and Countering the Financing of Terrorism measures, we shall treat the transactions as a single transaction and aggregate their values for the purpose of complying with Prevention of Money Laundering and Countering the Financing of Terrorism principles.

their full names, including aliases; their unique identification numbers (such as an identity card number, birth certificate number, or passport number, or where the customers not a natural person, their business registration numbers);

or their registration address, or if applicable, their registered business address, and if different, their principal place of business; AND their date of births, establishment, incorporation or registration; and their nationality, place of incorporation or registration.

full name, including aliases; and unique identification number such as identify card number, birth certificate number, or passport number of the connected party).

Verifying the Identities of our Customers

We shall verify the identities of our customers using reliable, independent source data, documents or information. Where our customer is a legal person or legal arrangement, we shall verify the legal form, proof of existence, constitution and powers that regulate and bind the customer, using reliable, independent source data, documents or information.

Identifying and Verifying the Identities of Natural Persons Appointed to Act on

Where a customer appoints 1 or more natural persons to act on his behalf in establishing business relations with us, or if the customer is not a natural person we shall:

identify each natural person who acts or is appointed to act on behalf of the customer by obtaining:2. their full name;3. their unique identification number;4. residential address;5. date of birth;6. nationality; and'7. verify the identities of the aforesaid natural persons using reliable, independent source data, documents or

We shall also verify due authority of each natural person appointed to act on behalf of our customers by obtaining:

appropriate documentary evidence authorising the appointment of such natural persons by our customers;

the specimen signature of each natural person

Where the customer is a Government entity, we shall only obtain such information as may be required to confirm that the customer is a Government entity as asserted.Identifying and Verifying Beneficial OwnersWe will inquire if there exist any beneficial owners in relation to a customer.

Where there is 1 or more beneficial owner in relation to a customer, we shall identify the beneficial owners and take reasonable measures to verify the identities of the beneficial owners using relevant information or data obtained from reliable, independent sources. We shall:

where there is doubt as to whether as to whether natural persons who ultimately own a legal person are the beneficial owners or where no natural person ultimately own the legal person, identify the natural persons (if applicable) who ultimately control the legal person or have ultimate effective control of the legal person;——

where no natural persons are identified, identify natural persons having executive authority in such legal persons;

if the customer is a legal arrangement –——

for trusts, identify the settlor, the trustee, the protector (if applicable), the beneficiaries, any natural person exercising ultimate ownership, ultimate control or ultimate effective control over the trust;

for other types of legal arrangements, identify person in equivalent positions.Where our customer is not natural person, we shall identify the nature of our customers’ business, its ownership and control structure.We shall be required if there exist any beneficial owners for customers who are:

an entity listed on the stock Exchange; an entity listed on a stock exchange that is subject to regulatory disclosure requirements; and requirements relating to adequate transparency relating to its beneficial owners; a financial institution; a financial institution that is subject to and supervised for compliance with AML/CFT requirements consistent with standards set by FATF; or an investment vehicle where the managers are financial institutions, or are subject to and supervised for compliance with AML/CFT requirements consistent with standards set by the FATF; unless we have doubts about the veracity of the CDD information, or suspect that our customers, business relations with, or transactions for the customer, may be connected with money laundering or terrorism financing.

We shall also document the basis for our determination.

Information on the Purpose and Intended Nature of Business Relations and Transaction Undertaken without an Account being Opened

We shall, when processing the application to establish business relations or undertake transactions without being opened, understand and as appropriate, obtain from the customer information as to the purpose and intended nature of business relations or transaction.

Review of Transactions Undertaken without an Account being Opened

Where we undertake one or more transactions for a customer without an account being opened (“current transaction”), we shall review the earlier transactions undertaken by that customer to ensure that the current transaction is consistent with our knowledge of the customer, its business and risk profile and where appropriate, the source of funds.

Where we establish business relations with a customer, the payment service provider shall review any transaction undertaken before the business relations are established, to ensure that the business relations are consistent with our knowledge of the customer, its business and risk profile and where appropriate, the source of funds.

We shall pay special attention to all complex, unusually large or unusual patterns of transactions undertaken without an account being opened that have no apparent or visible economic or lawful purpose. We shall, to the extent possible, inquire into the background and purpose of the aforesaid transactions and document its findings with a view to making this information available to the relevant authorities should the need arise.

For the purposes of reviewing transactions undertaken without an account being opened, we shall put in place and implement adequate systems and processes, commensurate with the size and complexity of the payment service provider to:

monitor its transactions undertaken without an account being opened for customers; and detect and report suspicious, complex, unusually large or unusual patterns of transactions undertaken without an account beingWhere there are any reasonable grounds for suspicion that a transaction for a customer undertaken without an account being opened is connected with money laundering or terrorism financing, and where we consider it appropriate to undertake the transaction, the payment service provider shall substantiate and document the reasons for undertaking the transaction.

We shall monitor business relations with our customers on an ongoing basis. We shall, during the course of business relations with a customer, observe the conduct of the customer’s account and scrutinise transactions undertaken throughout the course of business relations, to ensure that the transactions are consistent with our knowledge of the customer, its business and risk profile and where appropriate, the source of funds.

We shall perform our risk mitigation measures where the transaction involves a transfer of digital payment token to or receipt of a digital payment token from an entity other than:

1. a financial institution;or2. a financial institution that is subject to and supervised for compliance with AML/CFT requirements consistent with standards set by the FATF.

We shall pay special attention to all complex, unusually large or unusual patterns of transactions, undertaken throughout the course of business relations, that have no apparent or visible economic or lawful purpose. We shall, to the extent possible, inquire into the background and purpose of the aforesaid transactions and document its findings with a view to making this information available to the relevant authorities should the need arise.

For the purposes of ongoing monitoring, we shall put in place and implement adequate systems and processes, commensurate with the size and complexity of the payment service provider to:

1. monitor its business relations with customers; and2. detect and report suspicious, complex, unusually large or unusual patterns of transactions undertaken throughout the course of business relations.

We shall ensure that the CDD data, documents and information obtained in respect of customers, natural persons appointed to act on behalf of the customers, connected parties of the customers and beneficial owners of the customers, are relevant and kept up-to-date by undertaking reviews of existing CDD data, documents and information, particularly for higher risk categories of customers.

Where there are any reasonable grounds for suspicion that existing business relations with a customer are connected with money laundering or terrorism financing, and where we consider it appropriate to retain the customer:

1. we shall substantiate and document the reasons for retaining the customer; and2. the customer’s business relations with us shall be subject to commensurate risk mitigation measures, including enhanced ongoing monitoring.

Where we assess the customer or the business relations with the customer to be of higher risk, the payment service provider shall perform enhanced CDD measures, which shall include obtaining the approval of our senior management to retain the customer.

conducted due diligence enquiries that have not raised any doubt on the part of the acquiring payment service provider as to the adequacy of AML/CFT measures previously adopted in relation to the business or part thereof now acquired by the acquiring payment service provider, and document such process.

Measures for Non-Account Holder

If we undertake any transaction for any customer who does not otherwise have business relations with us, we shall:

1. perform CDD measures as if the customer had applied to the payment service provider to establish business relations; and2. record adequate details of the relevant transaction so as to permit the reconstruction of the transaction, including the nature and date of the transaction, the type and amount of currency involved, the value date, and the details of the payee or beneficiary

Timing for Verification

We shall complete verification of the identity of a customer, natural persons appointed to act on behalf of the customer and beneficial owners of the customer before:

1. the payment service provider establishes business relations with the customer;2. the payment service provider undertakes any transaction for the customer, where the customer has not otherwise established business relations with the payment service provider; or3. the payment service provider effects or receives digital payment tokens by value transfer for the customer, where the customer has not otherwise established business relations with the payment service provider.

We provider may establish business relations with a customer before completing the verification of the identity of the customer, natural persons appointed to act on behalf of the customer and beneficial owners of the customer if:

1. the deferral of completion of the verification is essential in order not to interrupt the normal conduct of business operations; and2. the risks of money laundering and terrorism financing can be effectively managed by the payment serviceWhere we establish business relations with a customer before verifying the identity of the customer, natural persons appointed to act on behalf of the customer, and beneficial owners of the customer, we shall:1. develop and implement internal risk management policies and procedures concerning the conditions under which such business relations may be established prior to verification; and2. complete such verification as soon as is reasonably

Where Measures are Not Completed

Where we are unable to complete the measures as required, we shall not commence or continue business relations with any customer, or undertake any transaction for any customer.

Where we are unable to complete the measures, the payment service provider shall consider if the circumstances are suspicious so as to warrant the filing of an STR.

Completion of the measures means the situation where the payment service provider has obtained, screened and verified (including by delayed verification as allowed under paragraphs 6.43 and 6.44) all necessary CDD information under paragraphs 6, 7 and 8, and where the payment service provider has received satisfactory responses to all inquiries in relation to such necessary CDD information.

Joint Accounts

In the case of a joint account, we shall perform CDD measures on all of the joint account holders as if each of them were individually customers of the payment service provider.

We shall screen a customer, natural persons appointed to act on behalf of the customer, connected parties of the customer and beneficial owners of the customer against relevant money laundering and terrorism financing information sources, as well as lists and information provided by the Authority for the purposes of determining if there are any money laundering or terrorism financing risks in relation to the customer.

We shall screen the persons:

a.when, or as soon as reasonably practicable after, we establish business relations with a customer; before we undertake any transaction for any customer who has not otherwise established business relations with the payment service provider;

b.before we effect or receive digital payment tokens by value transfer, for a customer who has not otherwise established business relations with us;on a periodic basis after we establishes business relations with our customers; when there are any changes or updates to; the lists and information provided by the Authority to the payment service provider; the natural persons appointed to act on behalf of a customer, connected parties of a customer or beneficial owners

c.We shall screen all value transfer originators and value transfer beneficiaries, against lists and information provided by the Authority for the purposes of determining if there are any money laundering or terrorism financing risks.

d.We shall document the results of all screening.

e.Our Approach to Enhanced Customer Due Diligence

Politically Exposed Persons

We shall use all reasonable means to determine if a customer, any natural person appointed to act on behalf of a customer, any connected party of the customer or any beneficial owner of the customer is a politically exposed person, or a family member or close associate of a politically exposed person.

We shall, in addition to performing CDD measures, perform at least the following enhanced due diligence measures where a customer or any beneficial owner of the customer is determined by us to be a politically exposed person, or a family member or close associate of a politically exposed person:

1. obtain approval from senior management to establish and continue business relations with the customer;2. establish by reasonable means, the source of wealth and source of funds of the customer and any beneficial owner of the customer; and3. conduct, during the course of business relations with the customer, enhanced monitoring of the business relations with the customer. We shall increase the degree and nature of monitoring for any transactions that appear unusual

Higher Risk Categories

We recognise that the following circumstances where a customer presents or may present a higher risk for money laundering or terrorism financing include but are not limited to the following:

where a customer or any beneficial owner of the customer is from or in a country or jurisdiction in relation to which the FATF has called for countermeasures, the payment service provider shall treat any business relations with or transactions for any such customer as presenting a higher risk for money laundering or terrorism financing;

We will perform enhanced CDD for customer who presents a higher risk for money laundering or terrorism financing or any customer the Authority notify to us as presenting higher risk for money laundering and terrorism financing.

Our Approach to Bearer Negotiable Instrument and Restriction of Cash Payout

If we are the ordering institution, before effecting a value transfer, we shall:

1. identify the value transfer originator and take reasonable measures to verify his or its identity (if we have not already done so); and2. record adequate details of the value transfer including but not limited to, the date of the value transfer, the type and value of digital payment token) transferred and the value date.

If we are an ordering institution, we shall include in the message or payment instructions that accompanies or relates to the value transfer:

1. the name of the value transfer originator;2. the value transfer originator’s account number (or unique transactionreference number if applicable);3. the name of the value transfer beneficiary, and4. the value transfer beneficiary’s account number (or unique transaction reference number if applicable).

For value transfer exceeding a particular threshold and if we are an ordering institution, we shall identify the value transfer originator and verify his or its identity, include in the message or payment instructions that accompanies or relates to the value transfer information and any of the following:

1. the value transfer originator’s-2. residential address, or3. registered or business address, and if different, principal place of business;4. the value transfer originator’s unique identification number; or5. the date and place of birth, incorporation or registration of the value transfer

We shall immediately and securely submit to the beneficiary institution all value transfer originator and value transfer beneficiary information, and shall document all such information. Where we in the capacity as an ordering institution are not able to comply with the requirements, we shall not execute the value transfer.

If we are the beneficiary institution, we shall take reasonable measures to identify value transfers that lack the required value transfer originator or required value transfer beneficiary institution.

For value transfers where we as the beneficiary institution pays out transferred digital payment token(s) in cash or cash equivalent to a value transfer beneficiary, we shall identify and verify the identity of the value transfer beneficiary (if the identity has not been previously verified).

We shall immediately and securely submit to the beneficiary institution all value transfer originator and value transfer beneficiary information, and shall document all such information. Where we in the capacity as an ordering institution are not able to comply with the requirements, we shall not execute the value transfer.

If we are the beneficiary institution, we shall take reasonable measures to identify value transfers that lack the required value transfer originator or required value transfer beneficiary institution. For value transfers where we as the beneficiary institution pays out transferred digital payment token(s) in cash or cash equivalent to a value transfer beneficiary, we shall identify and verify the identity of the value transfer beneficiary (if the identity has not been previously verified).

We shall always conduct a review prior to executing a value transfer lacking the required value transfer originator or value transfer beneficiary information, and document our follow-up action. If we are the intermediary institution, we shall retain all information pertaining to a value transfer.

When we as an intermediary institution effect a value transfer to another intermediary institution or beneficiary institution, we shall immediately and securely provide the information accompanying the value transfer, to that other intermediary institution or beneficiary institution. If we are a receiving intermediary institution, we shall keep a record for at least five years for all information received from an ordering institution or another intermediary institution.

We shall take reasonable measures to identify value transfers that lack the required value transfer originator or value transfer beneficiary information when straight-through processing.

We will keep proper records as required for a time period of at least 5 years.

We will inform the relevant authorities and file STR Reports as required by law. We will also keep all records and transactions relating to all such transactions and STR Reports.

Amongst other things, we shall appoint an AML/CFT Compliance Officer at the Management Level, maintain an independent audit function, and take proactive measures in regularly training our employees and employees on AML/CFT matters.

We will employ and enterprise-wide money-laundering/terrorism financing risk assessment in 3 phases:

Phase 1: Assessing inherent risk

We will assess the inherent risk in relation to our:

1. Customer or entity: we will make an assessment in relation to our customers and/or entities we deal with;2. Product or services: we will and are mindful of who we serve in our cryptocurrency OTCservices;3. Geographical level: we will not deal with customers from the List of Designated Individuals and

Phase 2: Assessing mitigating control

We will assess our mitigating controls in relation the aforesaid, any and/or all customer(s) whom we find suspicious will be first monitored, followed by exercising enhanced due diligence.

Phase 3: Assessing residual risk

We will assess our residual risks after assessing our mitigating controls.

This agreement is between you (hereinafter referred to as "you" or "your") and BYDFi. Your access and use the BYDFi platform or any of its websites (https://www.BYDFi.com, https://BYDFi.in), any service provided by the mobile application, or as described further in point 4 below, other related services (hereinafter collectively referred to as "the Service") provided by the website of BYDFi or any of its affiliates. It means that you confirm that you have read, understood, and accepted all the terms and conditions stipulated in this Terms of Use Agreement (hereinafter referred to as the "Terms of Use"), as well as our privacy policy published on the platform. In addition, when using some functions of this service, you may also need to comply with the additional terms and conditions applicable to these functions.

This service agreement stipulates that users can introduce third-party users to the platform. It also explains the platform's obligation for you to invite users and your obligations to us under the invitation plan provided by the platform.

1.Commitment and Electronic Signature

a.Hereby acknowledge and agree to: continue to visit or use the main website of the platform by using and/or sharing the unique user recommendation code and recommended registration link or address specified on the platform’s main website. Analyze and provide information about the platform and/or financial products by referring potential new users to the platform’s main website. Fully agree to abide by and be bound by the terms and conditions set by all platforms to supplement the applicable service terms in this service agreement.

b.To the extent permitted by applicable mandatory law, you hereby waive any rights or requirements under the laws or regulations of any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records.

2.User Invitation Terms and Written Guarantee

a.You and the invited user have all the necessary rights to sign this service agreement and are fully bound by it, and he/she has taken all necessary measures in this regard. The user confirms that he/she/it can sign this service agreement and obtain the approval and/or authorization and/or qualification required by local regulations, and can provide the services mentioned in this service agreement.

b.As an inviter, you must always provide the true and complete information to the platform, including but not limited to contact information, the nature of user intermediary activities carried out to introduce, explain and/or promote the financial services provided by the platform to potential users, and any other information that may be requested by the platform.

c.You or the user you invite have no right to authorize activities on behalf of BYDFi, do not impersonate BYDFi on behalf of the platform in any way to provide any investment advice to the users introduced.

d.The user has obligation to notify the introduced user of any commissions received and any other commissions related to services provided under this service agreement when necessary.

e.You may not use the platform logo in any communication, including but not limited to any business card or any electronic transmission method unless legally authorized by the platform.

f.You and the user you invite promised that he/she shall not register a platform containing the word "BYDFi", and shall not register or operate a domain name whose name contains "BYDFi".

g.You and the user you invite declare and warrant that he/she will not place promotional materials related to the platform on any website, nor use any media or medium containing materials, including but not limited to websites that meet the following conditions:

h.(1) Through any automatic, deceptive, fraudulent, or other invalid means (including but not limited to by repeating), directly or indirectly using online services provided by the platform to manually click, use robots or other automated tools and/or computer-generated queries, and/or unauthorized use of other search engine optimization services and/or software.(2) Edit, modify, filter, truncate or change the order of the information contained in any part of the main website of the platform, or delete, obscure or minimize any part of the main website of the platform without authorization from the platform.(3) After clicking on any part of the main website of the platform, obscure, minimize, or prevent the complete display of any webpage accessed by the user.(4) Redirect any user outside of the platform’s main website.(5) Provide any version of the webpage on the main website of the platform that is different from the pages accessed by end-users directly accessing the main website of the platform.(6) Through or from any software application, website or recommendation, directly or indirectly access, initiate, and/or activate access to online services provided by the platform, or combine access or referrals to online services provided by the platform. Other than its website, and only within the scope expressly permitted by this service agreement.(7) "Crawling", "Crawler", indexing or storing or caching in any non-transitory way from or has been solicited from the main website of the platform, identified as and/or referred to and/or recommended to and/or recommended to any user of the main website of the platform or the information related to it.(8) Acting in any way that violates the various policies posted on the platform's main website, the policy may be revised from time to time, or included in any other agreement between the associated platform and the platform (including but not limited to this service agreement).(9) Spread malware.(10) After the platform terminates the service agreement with the user because the user violates the service agreement, create a new account to register the platform's user plan.(11) Engage in any actions or practices that have a poor impact on the platform or detract from or depreciate the reputation and/or goodwill of the platform.

i.Except as other clearly stipulated in this service agreement, then only within the stipulated scope, users are prohibited from sending emails, SMS, MMS, or groups to promote the platform, the main website of the platform, the user plan of the platform and/or online services provided by the platform.

j.In addition, you clearly acknowledge and agree that the platform will not participate in supporting or condoning a large number of unsolicited emails (eg, spam, desktop scrapbook) to promote the platform, the platform’s main website, the platform’s user program, and/or online services provided by the platform. You and the user you invite also clearly acknowledge and agree that he/she will also abide by this policy.

k.You and the user you invite acknowledge and agree that any attempt to participate in or violate any of the above acts constitutes a significant violation of this service agreement and the platform can decide to seek any and all applicable laws and fair remedies for you and the users you invite. This includes immediately suspending associated user accounts on the platform and/or immediately terminating this service agreement without prior notice, and/or seeking all available civil or criminal relief.

i.The affiliated platform further declares and guarantees its website and any materials displayed on it:(1) Comply with all applicable laws and regulations, decrees, regulations, and other applicable rules.(2) Do not violate, nor violate any obligations or rights to any individual or entity, including but not limited to intellectual property rights, right of publicity or privacy, or rights or obligations under consumer protection, product liability, infringement, or contract.(3) Content does not involve pornography, hatred, or other acts of violence.

m.You and the user you invite acknowledge and confirm that he/she has an existing user base or influence on the audience/KOL. According to the BYDFi user commission table, each commission level requires active trading users. Registering as a user to generate commissions for self-service trading accounts and/or using multiple accounts as active users would violate BYDFi user terms and be subject to the user account ban. BYDFi reserves the right to make adjustments and/or delete commissions at its discretion.

n.Strictly prohibit the use of search engine marketing technology (For example, bid for the BYDFi brand name in any search engine), BYDFi reserves the right to terminate user accounts without prior notice.

o.(1) Promote (including a link to) pornographic materials, violent or illegal activities.(2) Promote discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age.(3) Manipulate keywords to conduct searches on portals and/or search engines that conflict with platform websites.(4) Infringe the intellectual property rights of the platform by choosing the visual "appearance" or text of the main website of the platform and distorting itself as the main website of the platform, including but not limited to banner advertisements and/or text links managed from the main website or platform and the "crawled" text or images in search marketing or all other online and offline campaigns.(5) Include "BYDFi" or its variants or misspellings in the user's domain name.(6) Does not explicitly provide online privacy policies to visitors of its website.(7) The platform decides whether it is offensive or inappropriate.

3.User Rights and Obligations

a.Without affecting the obligations of you and the users you invite under this service agreement, the platform shall not be responsible or liable for any suggestions or decisions provided by you and the users you invite to the introduced users.

b.For users to be eligible for any commission related to referred users, all requirements specified in this service agreement must be met, and users must ensure that referred users use their unique referral link/code to open an account on the platform.

c.If you and the users you invite create a website to promote their business, the following features and information should be included to identify and capture suitable opportunities: (1) There should be a link that directs potential users to the main website of the platform; (2) Information and/or logos and/or slogans of the platform should be visible to potential users; (3) An accurate description of the platform's products should be provided to offer users specific information about the platform's financial products and services, so that users can enter into agreements with the platform.

d.Users must obtain approval from the platform before uploading any information or functions related to the platform and its services.

e.The platform has the sole discretion to accept or reject any user introduced by you and the user you invite and has the right to terminate the business relationship with any user at any time. All data relating to the user's account opening on the platform will be retained as the platform's exclusive proprietary property unless the agreement clearly states that the affiliated platform has no right to obtain such information through the signing of this service agreement.

f.Subject to the terms and conditions of this service agreement, you and the users you invite agree that all referral activities to the platform for potential users must be professional, appropriate and legal in accordance with applicable rules or laws.

4.Platform Rights and Obligations

a.The platform guarantees that you will be paid in time for the commission you invited in accordance with the agreement of this service agreement.

b.The platform is responsible for calculating and paying user commissions.

c.If any disputes or user complaints occur, the platform reserves the right to retain any commissions related to users until these issues are resolved.

d.If the platform finds that the trading activities of any user you introduce are abused, the platform reserves all rights, including but not limited to the immediate suspension or termination of the account of the associated platform, at the platform's discretion.

5.TRANSACTION FEE

a.The platform will track and report the user's trading activities, these trading are approved to open an account after the recommendation.

b.The payable commission according to this service agreement will be based on a floating percentage of the fees paid by the recommended users. This fee can be viewed on the platform page at any time, and increases as the total trading amount of the recommended account increases.

c.If any trading activity of the user introduced by the user is regarded as suspicious by the platform, the platform can delay the payment of the commission until it verifies the relevant trading. If the platform determines the activities that constitute fraudulent traffic at its own discretion, the platform has the right to terminate this service agreement and/or recalculate or withhold commissions of the associated platform accordingly.

d.According to the recommended trading conducted by the introduced users, the commission will be paid according to the different cryptocurrencies described on the platform. If you use BTC for trading, the platform will pay BTC commission. If trading in ETH, the platform will pay commission in ETH, and so on. The payment will be credited to the user account, which was already registered when registering the user plan. The platform reserves the right to use other payment methods at its discretion.

e.For anyone who does not strictly comply with this service agreement or the incorporated guidelines (if applicable) (including possible subsequent modifications and amendments), the platform will not grant any commission. The user should always strictly abide by this service agreement and the guidelines contained therein, which is the user's sole and absolute responsibility.