Important Service Terms

1. Major Items for Bull Market Lending

DeFI bull market lending allows users to set crypto asset as collateral to borrow cryptoassets. Users may borrow the identical coin/token which is collateralized, and although repayment is based on the KRW equivalent of the asset at the moment of request approval, please be aware of premature auto-repayment, which may be triggered due to fluctuations in the market price.

2. Bull Market Lending Product Information

1) Request

  1. Users may request up to 80% of the collateral value, and once approved, funding will occur immediately.
  2. Each request must be greater than the min. amount. and each account is capped at the max. amount.
  3. Once the cap is reached, outstanding balance must be repaid before requesting additional amounts.
  4. Collateralized assets are not available for trading and withdrawal until repayment.

2) Fees

  1. Fees are incurred on a per diem basis. Users will be charged for a minimum number of days, should the users complete repayment before the minimum days.
  2. If the available borrowed amount is insufficient, the collateral will be used to repay the repayment amount and an additional fee will be incurred on the used collateral amount.

3) Repayment

  1. Repayment will be crypto units based, derived from the KRW equivalent amount at the time of request approval (including usage fee).
  2. Prepayment is possible without additional penalty.
  3. If held until maturity, the borrowed amount will be automatically repaid the following day at 00:00 hour, and the repayment amount will be calculated using the market price at the following day, 00:00 hour.
  4. Automatic repayment will be executed if the lending rate exceeds 92% due to a decline in the market price. Available crypto assets will be used for repayment, and the required repayment units will be based on the KRW equivalent amount at the time of request approval and the market price at automatic repayment.
  5. Fees are incurred on a per diem basis. Users will be charged for a minimum number of days, should the users complete repayment before the minimum days.
  6. Text messages will be sent to notify the users when lending rates exceed 84%, 88%, and 92%.

4) Miscellaneous

Scheduled server maintenance and emergency inspections may cause a delay in the service and in some cases, service may be suspended for an indefinite period of time. Bithumb is not responsible for any losses realized by the users as a result of the delay in service.

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