XT.COM Crypto Loan Service Agreement

Ⅰ. Important Notice

Ⅱ. Scope

1. The following terms apply to all users who access and use the crypto loan services provided by XT.
2. This Agreement is a supplement to the XT User Agreement, and all provisions outlined in the User Agreement shall continue to apply. In the event of any conflict or inconsistency between the terms of this Agreement and those of the User Agreement, the terms of this Agreement shall prevail, unless expressly stated otherwise.

Ⅲ. Eligibility

1. In order to access and use the crypto loan services, you must satisfy the eligibility criteria outlined in the terms of this Agreement or the XT trading platform.
2. We may change our eligibility criteria for the use of crypto loan services at any time, including by introducing additional requirements.
3. If you no longer meet our eligibility criteria for using the crypto loan services at any time after you have accessed or used the services (including because of a change to your circumstances or our eligibility criteria), you must notify us promptly, and we may suspend or terminate your ability to access or use the crypto loan services.

Ⅳ. Crypto Loan Services

1. You hereby represent and warrant to us that: (a) you are authorized and permitted to use the crypto loan services; (b) the terms of this Agreement constitute legal, valid, and binding obligations enforceable against you; and (c) your use of the crypto loan services and XT's provision of such services to you is not unlawful under the laws and regulations of any jurisdiction to which you are subject. You agree to advise us immediately should there be any change in laws and regulations or other circumstances that could render this representation and warranty invalid. You hereby agree to indemnify XT against any loss to XT arising out of your breach of this representation and warranty or your obligation to advise us of changes in laws and regulations.
2. When you borrow digital assets under this Agreement, you are entering into a loan where you are the borrower and XT is the lender. You agree and acknowledge that XT has the right, in accordance with the terms of this Agreement, to grant you a loan and take any action with regard to such a loan.
3. We may suspend or discontinue the availability of crypto loan services in relation to any digital asset (in whole or in part) at any time, and reduce, cancel, discontinue, or modify crypto loan services without any liability to you.
4. You shall be responsible and assume and shall bear all risk of loss for all conduct relating to crypto loan services. XT does not take any responsibility for any loss or damage incurred as a result of your access to and use of crypto loan services.

Ⅴ. Loans and Repayment

1. When applying for a loan, you shall specify the digital asset you wish to borrow and the digital asset you wish to provide as collateral for the loan.
2. Provided that you satisfy all the eligibility criteria as determined by XT and you have sufficient eligible collateral available in your XT account, you may apply for a loan. If XT agrees to grant you a loan, the loaned assets will be transferred to your XT account. You may use the assets on XT's platform in any manner that XT may permit or withdraw the assets.
3. XT may attach conditions to the use of any particular loanable asset or eligible collateral, including but not limited to specifying a minimum and maximum amount that a particular asset may be loaned.
4. XT may determine which digital assets constitute loanable assets and eligible collateral at its sole discretion. If XT determines that a digital asset no longer qualifies as eligible collateral or loanable asset, we may terminate all relevant loans prior to maturity and initiate liquidation without any liability to you.
5. If you fail to repay a loan by the time it becomes due, interest will accrue at 3 times the hourly interest rate of the loan until it is fully repaid. Specifically, starting from the time when the loan becomes overdue, Hourly Interest = Outstanding Debt * Hourly Interest Rate * 3. If the overdue period exceeds 7 days, your collateral will immediately be subject to liquidation.
6. For flexible loans, you can repay the loan in full or in part at any time without any additional fees. For fixed loans, if you repay early, a penalty interest will be charged based on the remaining term of the principal repaid early.
7. If your loan-to-value (LTV) ratio has reached the value outlined by XT, your collateral will immediately be subject to liquidation, and you will be liable to pay the liquidation fee in addition to any additional fees and costs associated with the liquidation. LTV = Total Debt Value in USDT / Collateral Value in USDT.

Ⅵ. Collateral

1. During your use of XT's crypto loan services, XT shall determine the amount of collateral in your spot account. Upon entering into a loan, the collateral will be deducted from your spot account and retained by XT. Upon your repayment of the principal and interest as per the requirements, XT shall return the collateral to your spot account. The form and amount of the collateral shall be determined by XT.
2. Certain digital assets may only be valued as collateral on a discounted basis as determined by XT at its sole discretion.
3. XT shall be entitled to stake, invest, loan, handle, or transfer any collateral at its sole discretion. XT shall not be under any obligation to notify you thereof, nor be liable to you for any interest, staking rewards, or income that may be derived therefrom. No interest shall be paid to you on any collateral unless expressly outlined on the XT platform. You acknowledge and agree that any interest or income earned on collateral (if any) under the terms of this Agreement may be retained by XT for its own benefit. XT shall not be liable to you for the loss of any collateral resulting directly or indirectly from closure, bankruptcy, insolvency, liquidation, receivership, hack, security breach, technical malfunction, or other force majeure events.

Ⅶ. Interest

1. Simple interest shall accrue with respect to any loan on an hourly basis at the start of each hour. Time periods of less than one hour shall be counted as one hour. Interest with respect to any loan shall be calculated hourly as follows: Hourly Interest = Outstanding Debt * Hourly Interest Rate.
2. XT reserves the right to modify the rates of fees, interest, commissions, and charges, or impose other fees, commissions, and charges at its sole discretion.

Ⅷ. Default and Termination

1. A default shall be deemed to occur in the event that:

• Any payment or repayment in connection with any loan becomes overdue.
• The collateral balance falls below the collateral requirements as outlined by XT.
• Any representation, warranty, or undertaking made by you to XT becomes untrue, inaccurate, incomplete, or misleading, where you fail to inform XT as soon as reasonably possible.
• You fail to comply with the terms of this Agreement or perform any of your obligations under this Agreement.
• You have been found to be in breach or are being investigated by relevant authorities for being in breach of any applicable laws and regulations.
• You fail to promptly provide XT with verification of your identity or the identity of any person entrusted by you to act on your behalf.

2. If a default occurs, XT may immediately take any or all of the following actions:

• Suspend (indefinitely or otherwise), cancel, or terminate any XT account, or prohibit you from using XT services.
• Liquidate or close any outstanding transaction. XT may determine the value of such position as soon as possible from the date of the closure at its absolute discretion.
• Modify the applicable collateral requirements or sell the collateral and use the proceeds to meet your obligations.
• Exercise any other authority or power that we deem appropriate.