Last updated: 21 March 2025
This document outlines the terms, functionality, and important considerations for using the Simple Earn service. By engaging with this service, you agree to the conditions described herein.
Introduction to the Simple Earn Service
The Simple Earn service ("Service") is a value-added feature that allows you to potentially earn returns on your digital assets by depositing them on the platform for either a fixed or flexible term. This agreement governs your use of the Service and is binding once you begin using it.
In case of any conflict between this agreement and other platform terms, this agreement shall take precedence. All undefined terms carry their meaning from the platform's main terms of service.
Key Features and How It Works
The Service supports both flexible-term and fixed-term subscriptions, enabling users to deposit digital assets and earn returns. Subscription and redemption operations are available 24/7, though fixed-term subscriptions cannot be redeemed before maturity.
It is crucial to understand that this Service is not a principal-protected product. There is a risk of partial or total loss of your digital assets.
Important Definitions
- Principal: The amount of digital assets you deposit into the Service.
- Subscribe/Subscription: The act of depositing digital assets into the Service to open a position.
- Redeem/Redemption: The act of closing a position to withdraw digital assets from the Service.
- Returns: The interest, yield, or return you may earn on successfully matched digital assets.
- Insurance Fund: A fund designed to protect users from extreme market movements.
- Insurance Fund Retention Fee: A fee applied to returns from the flexible-term service.
- T hour: The time when a user's order is matched, based on UTC+8.
Eligibility and User Responsibilities
To use the Service, you must meet specific eligibility criteria and agree to certain responsibilities.
Eligibility Criteria
You confirm that you:
- Are eligible to use the platform's services and have agreed to its terms.
- Have the necessary experience and risk tolerance for non-guaranteed digital asset products.
- Can perform internet operations effectively.
- Are the legal owner of all digital assets in your account, sourced from legal activities.
- Your use of the Service complies with your local laws.
User Agreements
You further agree that you will not use the Service for:
- Any prohibited businesses, including money laundering, terrorist financing, or fraud.
- Market manipulation, insider dealing, or any other malicious market activities.
Understanding the Risks
Using the Service involves inherent risks, including but not limited to:
- Liquidity Risk: Inability to immediately sell or convert deposited assets, potentially leading to losses.
- No Return Guarantee: Historical returns are not indicative of future performance. Displayed expected returns are theoretical estimates, not promises. Actual returns may vary, and costs may be deducted from them.
- Market Volatility: Price fluctuations can lead to significant or total loss rapidly.
- Technological Risk: Technical issues may prevent access to your assets.
- Policy Changes: The platform may add, remove, or change terms, which could impact your use of the Service.
👉 Explore more strategies for managing digital asset risks
Using the Simple Earn Service
Subscription Process
When you subscribe, your digital assets are locked in the Service. You cannot access, trade, or use them until they are redeemed.
You must choose between a "flexible" or "fixed" term:
- Flexible Term: You may redeem your assets at any time.
- Fixed Term: You cannot redeem your assets until the term matures.
Flexible Term Details
a. Order Placement: You manually select the asset type, quantity, and a minimum expected Annual Percentage Rate (APR). Alternatively, you can use Auto-Earn.
b. Order Matching: OKX attempts to match your subscription with borrowing demand from other services. Not all assets in an order may be matched; unmatched assets earn no returns.
c. Returns Rate: Matched assets earn returns at your specified rate or the market rate, whichever is higher. If the market rate is lower, your order may not be matched.
d. Adjusted Market APR: In certain market conditions, OKX may adjust the market APR. Your assets may remain unmatched if your specified APR is higher than this adjusted rate.
e. Returns Distribution: Returns accrue hourly and are distributed after each hour. No returns are earned for partial hours.
f. Redemption: Flexible term subscriptions can be redeemed at any time. Returns are not earned for the hour of redemption.
g. Auto-Earn Function: This feature automatically uses idle assets in your funding account to create flexible-term subscriptions at the lowest available market APR, provided specific criteria are met (e.g., no transactions for 6 hours, APR > 1%). Auto-Earn scans accounts every four hours. Orders are prioritized by size and then chronologically.
Fixed Term Details
a. Order Placement: You select the asset type, quantity, and a fixed term (currently, only USDT for 90 days is offered). The APR is fixed for the term's duration.
b. Order Matching & Draw Down: OKX matches your order with specific borrowing orders. Your term begins and you start earning returns only when your order is matched and "drawn down." This can happen under several conditions (e.g., the borrowing order is fully filled, the borrower requests a drawdown on a partial fill, or the market APR changes).
c. Returns Distribution: Returns accrue daily and are distributed at the end of the term. No returns are earned for partial days.
d. Redemption: Fixed-term subscriptions cannot be redeemed before maturity if they have been drawn down.
e. Term Extension: If the borrower fails to repay at maturity, the term may be extended for up to 14 days, during which you earn "Extended Returns." In case of borrower default, the term may extend further until liquidation, which may not fully cover your principal and returns, risking loss.
Redemption Process
Upon redemption, assets may arrive in your account instantly or after a delay, depending on token type and market activity. You earn no returns and cannot access assets during this processing time. The platform is not responsible for any value loss due to price fluctuations during delays. Redemptions may be delayed due to insufficient liquidity and are processed on a first-in, first-out basis, subject to re-ordering by OKX. Partial redemptions for undrawn fixed-term orders are not permitted.
Fees
A 15% Insurance Fund Retention Fee is charged on returns generated from the flexible-term service only. This fee is deducted before returns are distributed to you. No such fee is applied to the fixed-term service.
Limits
OKX reserves the right to impose, adjust, or remove subscription and redemption limits at its sole discretion. Master and sub-accounts may share these limits.
Service Suspension and Termination
OKX may suspend, cancel, or terminate the Service or your access to it at any time at its sole discretion. Reasons for this may include:
- Failure to provide requested identity or source of funds information.
- Compliance with court orders, applicable laws, or government instructions.
- Providing incorrect, untruthful, or incomplete information.
- Failure to provide satisfactory additional information in a timely manner.
Limitations of Liability
As detailed in the main terms of service, OKX assumes no liability for losses arising from situations including:
- System failures, delays, interruptions, or lack of liquidity.
- Service suspension for maintenance.
- Data transmission failures.
- Force majeure events (e.g., natural disasters, war, government actions, pandemics).
- Service interruption due to hacking, viruses, technical issues, or website upgrades.
- Losses from unforeseen technical problems or third-party actions.
- Losses due to changes in laws or government orders.
OKX reserves the right to refuse or cancel your commands at its sole discretion. You agree that OKX is not liable for any losses caused by the risks described in this agreement.
Technology Disclaimers
- Maintenance: OKX may suspend access for scheduled or emergency maintenance and makes no warranties regarding completion time.
- Information Accuracy: OKX makes no guarantees that content on the platform is accurate, complete, or up to date.
- Access Responsibility: You are responsible for your data network access and compatible hardware. OKX does not guarantee service functionality on any particular device and services are subject to internet-related malfunctions and delays.
- Security: While security is a priority, the risk of unauthorized access, hacking, or data loss cannot be entirely eliminated. You bear the risk of unauthorized access to your account.
- Technological Changes: OKX may modify the technology, features, or service requirements based on advancements or regulations without prior notice.
Mandatory Measures and Indemnification
OKX prohibits unfair trading practices and may control, restrict, suspend, or shut down your account if you engage in market manipulation, insider dealing, or any activity deemed harmful to the market or illegal.
You agree to indemnify and hold harmless OKX, its affiliates, and their respective agents, shareholders, directors, officers, and employees from any losses arising from your use of the Service or related to your account.
Miscellaneous Provisions
- Incorporation of Documents: This agreement includes OKX's various system specifications and other documents, which become part of these terms.
- Modification of Terms: OKX reserves the right to unilaterally modify this agreement at any time without prior notice. Continued use after changes constitutes acceptance.
- Governing Law and Dispute Resolution: This agreement is governed by the laws of England and Wales. Disputes must first be referred to mediation at the Hong Kong International Arbitration Centre (HKIAC). If unresolved within 90 days, disputes will be settled by arbitration at HKIAC with three arbitrators, seated in Hong Kong, and conducted in English.
- Assignment: You may not transfer your rights or obligations without OKX's prior written consent. OKX may transfer its rights or obligations by notifying you.
- Severability: If any provision is invalid, the remaining provisions remain in effect.
- Headings: Section headings are for convenience only and have no interpretive meaning.
- Interpretation: OKX has the sole and final discretion to interpret this agreement.
Frequently Asked Questions
What is the main difference between Flexible and Fixed Terms?
The core difference is liquidity access. Flexible Terms allow you to redeem your digital assets at any time, offering higher liquidity. Fixed Terms lock your assets for a predetermined period (e.g., 90 days) to typically earn a fixed, and often higher, return, but you cannot access them until maturity.
How and when are returns paid out?
Returns are calculated and distributed differently for each product. For Flexible Terms, returns accrue every hour and are distributed after each hour. For Fixed Terms, returns accrue daily but are distributed in a lump sum at the very end of the investment term upon successful completion.
Is there any fee for using the Simple Earn service?
Yes, but only for the Flexible Term product. A 15% Insurance Fund Retention Fee is applied to the returns you generate before they are distributed to you. This fee helps maintain a protection fund for the ecosystem. There is no such fee for the Fixed Term service.
What happens if the borrower doesn't repay my Fixed Term loan?
In a default scenario, the term of your investment may be extended for up to 14 days, during which you will earn "Extended Returns." If the borrower still fails to repay, the process may enter liquidation. It's important to understand that liquidation proceeds may not be sufficient to cover your initial principal and earned returns, meaning you could suffer a partial or total loss.
Can I cancel a Fixed Term subscription early?
No. Once a Fixed Term subscription is successfully matched and drawn down, it cannot be redeemed, cancelled, or accessed until the maturity date (or any extension period due to a default). You must be committed to locking your assets for the entire duration.
How does the Auto-Earn feature work?
Auto-Earn is an opt-in feature for Flexible Terms. It automatically subscribes idle assets from your funding account that meet specific criteria (e.g., inactive for 6+ hours, above a minimum amount) into the Simple Earn service at the lowest available market rate. It scans accounts and executes these automatic subscriptions every four hours.