RISK OF EARNING

A. Earn Smart Arbitrage Risk

1. In offering Trading Bots to you, Bicoins is not providing any investment advice or recommending any particular Trading Bot, trading strategy, and/or trading parameter as appropriate and/or suitable for you. You shall be solely responsible for determining whether or not to use any Trading Bots and for selecting a proper feature, trading strategy, and/or parameters in light of their investment objectives, risk tolerance, financial situation, and needs. Binance makes no representation or warranty as to the outcome of the use of any Trading Bot and will not be liable to you for any loss that might arise from or in connection with your use of any Trading Bot.

B. Risk of Depegging for stablecoins

1. This disclosure outlines the risks associated with the potential de-pegging of stablecoins, including (without limitation) USD Coin (USDC) and Tether (USDT), from their intended 1:1 parity with a commodity or denomination of fiat currency.
2. (1) Stablecoins are designed to maintain a stable value relative to the commodity or denomination of fiat currency. For example, USDC and USDT are designed to maintain a stable value relative to the US Dollar (USD). However, market conditions, regulatory changes, or operational failures may cause these stablecoins to deviate from their intended 1:1 parity. Such deviations, commonly referred to as “de-pegging,” could result in significant price fluctuations or loss of value.
3. (2) De-pegging events may lead to reduced liquidity for the stablecoin, impacting the ability to execute trades or exit positions at favorable rates.
4. (3) Unexpected market movements during de-pegging may lead to substantial price fluctuations, potentially increasing margin requirements or triggering liquidations. Where USD stablecoin is used as collateral, de-pegging could reduce the value of collateral and increase the risk of margin calls or forced liquidations. De-pegging may also result in the stablecoin asset no longer being accepted as eligible collateral.
5. (4) The value of stablecoin typically depends on the creditworthiness and operational resilience of its issuer. Any doubts regarding the issuers’ ability to back the stablecoins with sufficient reserves may amplify de-pegging risks.
6. (5) As stablecoins are centrally issued, they are subject to counterparty risks, including potential regulatory actions or operational failures by the issuers. Legal or regulatory measures against stablecoin issuers or related parties may impact the stability or usability of their stablecoin. Cyberattacks, technical malfunctions, or other operational issues affecting the issuers could also trigger, or increase the risk of, depegging.
7. (6) You are encouraged to monitor market conditions, issuer announcements, and regulatory developments that could affect the stability of any stablecoin you may use.
8. (7) A de-pegging event in one particular stablecoin may have a contagion effect, negatively impacting market sentiment towards other issues of stablecoin or the trading venues that have used or otherwise facilitated trading activity involving that stablecoin (particularly where that stablecoin may have been used as collateral or for settlement of transactions).
9. (8) You should consider diversifying your collateral and funding sources to mitigate the potential impact of de-pegging risks.
10. (9) There is no guarantee that any stablecoin (including, without limitation, USDC or USDT) will maintain its 1:1 parity with the reference asset/currency under all circumstances. Users should conduct independent assessments and understand the risks associated with holding or using these stablecoins.

C. On Chain Yields

The use of Subscribed Assets for On-chain Yields Services may be subject to various risks, including protocol risks. Events may occur at the protocol level (such as hacks, exploits, or poor economic models) that are outside of Bicoins’s control. In exceptional circumstances, these risks could negatively impact the ability of Bicoins to return your Subscribed Assets in full or at all. The Digital Assets you use to Subscribe may be lost because they are put into smart contracts owned by Applicable Networks and not operated by Bicoins. Subscribed Assets are outside of Bicoins’s control, and neither Bicoinse nor any Bicoins Affiliate can guarantee the return of Subscribed Assets. Bicoins does not guarantee that you will receive On-chain Yields DeFi Rewards at the DeFi Rate shown at the time you Subscribe. Any representation concerning possible returns at the time you Subscribe is an estimate only and not guaranteed.

No Bicoins Entity makes any representation or warranty that On-chain Yields is appropriate for any user or in any location. Bicoins does not provide any due diligence assurances on the protocols themselves. You are strongly encouraged to carefully review these On-chain Yields Terms and seek independent professional advice as to whether On-chain Yields Services are appropriate for you, considering your personal circumstances and objectives, financial position, and risk tolerance. Always do your own research.