The Simple Earn User Agreement outlines the terms and conditions governing your participation in OKX’s Simple Earn service—a value-added financial tool designed to help users earn returns on their digital assets. This comprehensive guide breaks down the agreement into clear, reader-friendly sections, ensuring transparency and compliance while enhancing your understanding of risks, features, and responsibilities.
Whether you're considering flexible or fixed-term deposits, this document serves as your essential reference for making informed decisions in the dynamic world of digital asset yield generation.
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Overview of the Simple Earn Service
The Simple Earn Service (referred to as the “Service”) is offered by OKX to users who wish to generate returns by depositing digital assets for either a fixed or flexible term. By using this service, you agree to be bound by the terms outlined in this agreement, which forms a legally binding contract between you and OKX.
To access the service, users must first accept these terms. Continued use signifies acceptance of any future updates to the agreement. If there’s a conflict between this document and other OKX policies, the terms here take precedence unless otherwise stated.
This service does not guarantee principal protection—meaning users assume the risk of partial or total loss of their deposited assets due to market volatility, liquidity issues, or borrower defaults.
Key Definitions and Terminology
Understanding core terminology is crucial for navigating the Simple Earn ecosystem effectively:
- Principal: The amount of digital assets deposited into the service.
- Returns: Interest or yield earned from lending out your digital assets; not guaranteed and subject to market conditions.
- Subscription: The act of depositing assets into the service to begin earning returns.
- Redemption: Withdrawing your assets from the service, either fully or partially (where permitted).
- T hour / T day: Refers to the UTC+8 timestamp when an order is matched, used to calculate hourly or daily returns.
- Insurance Fund: A reserve pool funded by OKX and liquidation surpluses, intended to mitigate user losses during extreme market movements.
- Insurance Fund Retention Fee: A fee charged on flexible-term products (currently 15% of generated returns) to support risk management mechanisms.
These definitions underpin how returns are calculated, when withdrawals are allowed, and what protections—if any—are in place.
Eligibility and User Responsibilities
Before participating in Simple Earn, users must meet certain eligibility criteria and acknowledge key responsibilities:
- You must be legally permitted to use digital asset services in your jurisdiction.
- You confirm that all digital assets in your account are legally owned and sourced.
- You agree not to engage in prohibited activities such as money laundering, fraud, market manipulation, or insider trading.
- You accept that historical performance does not predict future returns—OKX makes no guarantees regarding yields.
- You understand that technological failures, market fluctuations, or regulatory changes may affect access to your funds.
Additionally, OKX reserves the right to modify terms at any time. Users are responsible for staying informed about updates posted on the platform.
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Using the Simple Earn Service
Users can subscribe to or redeem from the service 24/7 via the OKX platform. However, withdrawal rules differ significantly based on whether you choose a flexible-term or fixed-term option.
Flexible-Term Earning
Flexible-term subscriptions allow users to redeem assets at any time. Key features include:
- Users set a minimum desired APR when subscribing manually.
- OKX matches deposits with borrowing demand; unmatched portions do not earn returns.
- Returns accrue hourly and are distributed after each full hour.
- An Adjusted Market APR may be applied during high-demand periods, affecting match eligibility.
The Auto-Earn feature automatically allocates idle funds (after six hours of inactivity) into flexible-term earning pools if conditions are met:
- Supported asset type
- Minimum balance threshold
- Market APR above 1%
- Auto-Earn liquidity limits not exceeded
Auto-Earn scans accounts every four hours (at 3:30, 7:30, etc., UTC+8). Opting out stops new subscriptions but existing ones must be redeemed manually.
Fixed-Term Earning
Fixed-term deposits lock funds for a set duration (e.g., 90 days for USDT). Key aspects:
- APR is fixed at subscription and remains unchanged throughout the term.
- Returns accrue daily and are paid out upon maturity.
- Early redemption is not permitted once the loan is drawn down.
- If borrowers fail to repay at maturity, the term may extend up to 14 days—with extended returns paid hourly.
- In case of default, liquidation proceeds may not cover full principal or interest, exposing users to potential loss.
Matching occurs when borrowing orders are filled or partially drawn down due to APR changes or borrower actions.
Redemption Process and Liquidity Risks
When initiating a redemption, users should note:
- Assets may take time to reflect in your account depending on token type and network activity.
- No returns are earned during the processing period.
- Price volatility during this window could result in value loss—OKX assumes no liability for such fluctuations.
- Redemptions may be delayed due to insufficient liquidity or unexpected market conditions.
- Delayed redemptions are processed on a first-in-first-out basis, though OKX retains discretion to prioritize based on size or market needs.
Partial redemptions are not allowed for fixed-term orders that haven’t been drawn down.
Fees and Risk Management
OKX charges a 15% Insurance Fund Retention Fee on returns generated through the flexible-term service. This fee supports the Insurance Fund, which helps protect against sudden market shocks. No such fee applies to fixed-term products.
Market dynamics mean that even if your specified APR is lower than the displayed rate, your assets might remain unmatched due to an Adjusted Market APR. Always monitor real-time conditions before subscribing.
Suspension, Termination, and Account Controls
OKX reserves the right to suspend or terminate your access to Simple Earn under various circumstances, including:
- Failure to provide identity or fund source verification
- Suspicion of false or outdated information
- Legal or regulatory compliance requirements
- Engagement in market manipulation or prohibited activities
In such cases, OKX may restrict your account or cancel transactions without prior notice and bears no liability for resulting losses.
Liability Disclaimer and Risk Acknowledgment
Users acknowledge and accept several critical risks:
- Losses from price volatility, failed transactions, or system outages
- Delays caused by maintenance, hacking attempts, or force majeure events (e.g., natural disasters)
- Third-party breaches or technical failures beyond OKX’s control
- Regulatory changes impacting service availability
OKX disclaims liability for all direct or indirect losses arising from these factors. The platform also reserves the right to refuse or cancel any transaction at its sole discretion.
Technology and Security Considerations
While OKX employs robust security measures, users bear responsibility for:
- Securing their own devices and accounts
- Maintaining updated software and hardware
- Bearing risks associated with unauthorized access or data breaches
Internet-based services inherently carry risks like delays, malfunctions, or communication failures. OKX does not guarantee uninterrupted functionality across all devices.
Technology evolves rapidly—OKX may update systems or modify service requirements without advance notice due to innovation or regulation.
Frequently Asked Questions (FAQ)
Q: Can I lose money using Simple Earn?
A: Yes. The service is not principal-protected. Market volatility, borrower defaults, and liquidity issues can lead to partial or total loss of your deposited assets.
Q: How often are returns paid out?
A: For flexible-term deposits, returns are distributed hourly. For fixed-term deposits, they’re paid in full at maturity.
Q: Is there a fee for using Simple Earn?
A: A 15% Insurance Fund Retention Fee applies to flexible-term returns. Fixed-term deposits have no additional fees.
Q: What happens if a borrower doesn’t repay on time?
A: The term may extend up to 14 days with extended returns. If default occurs, liquidation efforts may not recover your full principal.
Q: Can I automate my earnings?
A: Yes. Auto-Earn automatically invests idle funds in flexible-term products if eligibility criteria are met.
Q: Are my assets locked forever in fixed-term deposits?
A: They’re locked until maturity (e.g., 90 days), unless early termination occurs due to borrower actions—but early redemption by users is not allowed.
Modifications and Governing Law
OKX may update this agreement at any time without prior notice. Continued use after changes are published constitutes acceptance. Conflicting translations defer to the English version.
This agreement is governed by the laws of England and Wales. Disputes will first undergo mediation through the Hong Kong International Arbitration Centre (HKIAC). If unresolved within 90 days, arbitration will proceed with three arbitrators seated in Hong Kong, conducted in English.
You cannot transfer your rights under this agreement without OKX’s written consent. OKX may assign its rights with prior notice.
All section headings are for convenience only and do not influence interpretation.
This document integrates core keywords naturally: Simple Earn, digital assets, returns, flexible term, fixed term, Subscription, Redemption, OKX Platform, and Insurance Fund Retention Fee—optimized for search visibility while maintaining clarity and legal accuracy.