Last Updated: July 8, 2026
IMPORTANT NOTICE: PLEASE READ THESE TERMS CAREFULLY. APPENDIX II CONTAINS A BINDING ARBITRATION AGREEMENT AND CLASS ACTION WAIVER THAT AFFECT YOUR LEGAL RIGHTS. APPENDIX I CONTAINS MATERIAL RISK DISCLOSURES APPLICABLE TO YOUR USE OF THE PLATFORM.
These Terms of Service (these “Terms”) govern your access to and use of the websites, mobile applications, and other online interfaces operated by Bitlendex, Inc., a Delaware corporation (“Bitlendex,” “we,” “us,” or “our”) (collectively, the “Platform”). By accessing or using the Platform in any way, you: (i) acknowledge that you have read and understood these Terms; (ii) agree to be legally bound by these Terms and our Privacy Policy (available at bitlendex.com/privacy); and (iii) agree to any additional terms or disclosures applicable to specific products, services, or features (collectively, “Product Terms”).
If you do not agree to these Terms, you must not use the Platform.
The Platform is intended only for individuals who are at least 18 years of age (or the age of majority in their jurisdiction, if higher). By using the Platform, you represent and warrant that you meet this eligibility requirement and that your use of the Platform does not violate any applicable law or regulation in your jurisdiction.
BITLENDEX, INC. IS A DELAWARE CORPORATION THAT OPERATES THE PLATFORM SOLELY AS A FRONT-END ACCESS POINT TO THE TEMPLAR PROTOCOL. BITLENDEX IS NOT A LENDER, CUSTODIAN, COUNTERPARTY, OR FINANCIAL INSTITUTION. ALL LOAN TERMS, INTEREST RATES, COLLATERAL MANAGEMENT, LIQUIDATION MECHANICS, AND ASSET FLOWS ARE GOVERNED EXCLUSIVELY BY THE TEMPLAR PROTOCOL’S SMART CONTRACTS, WHICH ARE DESIGNED TO OPERATE AUTONOMOUSLY ON-CHAIN. BITLENDEX DOES NOT HOLD, CONTROL, OR HAVE ACCESS TO USER COLLATERAL OR LOANED ASSETS AT ANY TIME.
For purposes of these Terms, the following capitalized terms have the meanings set forth below:
“Account” means your Platform account and any product or sub-account accessible through the Platform.
“Applicable Law” means all applicable federal, state, local, and foreign laws, rules, regulations, regulatory guidance, sanctions programs, and court or governmental orders, as applicable to Bitlendex, the Platform, the Services, and/or you.
“Bitcoin” or “BTC” means the native digital asset of the Bitcoin blockchain network.
“Collateral” means the Bitcoin you deposit into the Platform as security for a Loan.
“Cybrid” means Cybrid Technology Inc. and its affiliates, which provide identity verification, KYC/AML compliance infrastructure, and fiat payment rail services to the Platform.
“Digital Assets” means cryptocurrencies, stablecoins, tokens, and other blockchain-based digital assets supported for use in connection with the Services, including Bitcoin and USDC.
“Dispute” means any dispute, claim, or controversy arising out of or relating to these Terms, your access to or use of the Platform, or any products or services offered through the Platform.
“Interest Rate” means the variable annual percentage rate applicable to your Loan, as determined in real time by the Templar Protocol and displayed on the Platform at the time of borrowing.
“KYC” means know-your-customer and customer identification program requirements, as implemented through Cybrid and Persona identity verification services.
“Liquidation Threshold” means the maximum Loan-to-Value ratio at which your Collateral becomes subject to partial or full liquidation, as displayed on the Platform and determined by the Templar Protocol.
“Loan” means a Bitcoin-collateralized loan of USDC or fiat USD facilitated through the Platform and governed by the Templar Protocol.
“Loan-to-Value” or “LTV” means the ratio of your outstanding Loan balance to the USD-equivalent value of your Collateral, expressed as a percentage.
“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control.
“Persona” means Persona Identities, Inc., the identity verification provider used by Cybrid to conduct KYC on Platform users.
“Platform” means the websites, mobile applications, and other online interfaces operated by Bitlendex through which users may access the Services.
“Privy” means Privy, Inc., the embedded wallet and authentication infrastructure provider used by the Platform.
“Services” means the products, services, features, and functionality made accessible through the Platform, including the loan calculator tool, loan origination and management, collateral deposit and withdrawal, fiat disbursement, and loan specialist scheduling.
“Templar Protocol” means the decentralized smart contract protocol that governs loan origination, Interest Rates, collateral management, LTV calculations, and liquidation mechanics for Loans facilitated through the Platform.
“USDC” means the USD Coin dollar-denominated stablecoin token operating on applicable blockchain networks.
Bitlendex operates the user interface and technology layer that allows you to access the Services. Bitlendex does not itself: (i) act as a lender of record or counterparty to any Loan; (ii) hold, control, or have custody of your Collateral or loaned assets at any time; (iii) set Interest Rates (which are determined exclusively by the Templar Protocol); (iv) act as a bank, trust company, custodian of record, broker-dealer, or money services business; or (v) accept deposits or provide products insured by the Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation (“SIPC”).
Any tools, calculators, LTV displays, interest rate quotes, or other information presented on the Platform are for general informational purposes only and reflect real-time outputs from the Templar Protocol. They do not constitute individualized financial, investment, or lending advice.
Certain Services accessible through the Platform are provided by or through third-party service providers, which currently include:
The availability, scope, and roles of specific Service Providers may change over time. Your use of services provided by third-party Service Providers is also subject to those providers’ own terms of service and privacy policies.
Your rights and obligations with respect to specific Services may be governed by separate agreements between you and applicable Service Providers, including Cybrid’s terms governing fiat disbursements and KYC onboarding. Unless explicitly stated otherwise, Bitlendex is not a party to those agreements and is not responsible for the obligations of any Service Provider, except as required by Applicable Law.
You must be 18 years of age or older (or older than 18 if the age of majority in your jurisdiction is greater than 18) and have sufficient legal capacity to enter into these Terms.
The Platform is available only in jurisdictions where such use is lawful under applicable law. By using the Platform, you represent and warrant that:
The Platform is not available to persons who reside in, are located in, are incorporated in, or have a registered office in any of the following jurisdictions (“Restricted Jurisdictions”):
By using the Platform, you represent and warrant that you are not located in a Restricted Jurisdiction and that your use of the Platform complies with all applicable laws in your jurisdiction. Bitlendex reserves the right to update the list of Restricted Jurisdictions at any time in response to changes in applicable law or regulatory guidance, including the addition of U.S. states or other domestic jurisdictions where Bitlendex has not obtained required licenses.
Without limiting the foregoing, the Platform is not available to any person or entity designated as a “Specially Designated National” by OFAC, placed on the U.S. Commerce Department’s Denied Persons List, listed on the UN Security Council Consolidated Sanctions List, or subject to equivalent designations under the sanctions regimes of Canada, the United Kingdom, the European Union, or Switzerland.
Bitlendex uses technical controls, including IP-based geo-blocking, to enforce these jurisdiction restrictions. Any circumvention of such controls, including through the use of virtual private networks, proxies, or other methods, is strictly prohibited and constitutes a material breach of these Terms.
To access the Services, you must create an Account and complete identity verification as required by Applicable Law. Identity verification is conducted through Cybrid, using Persona as the verification provider. KYC is required for all users prior to accessing any Services, including USDC loans. All identity documentation and KYC data collected during onboarding is initiated by Cybrid and stored by Cybrid pursuant to Cybrid’s privacy policy and data retention obligations.
You agree that: (i) all information you provide is accurate, current, and complete; (ii) you will promptly update such information to keep it accurate; and (iii) you are solely responsible for maintaining the confidentiality and security of your login credentials and wallet access.
Platform authentication is managed through Privy. You are responsible for all activities that occur under your Account and agree to notify Bitlendex immediately of any actual or suspected unauthorized access.
The Platform enables a user to book a consultation with a Bitlendex loan specialist. Any information provided during such consultations is informational only and does not constitute financial, legal, investment, or tax advice. Bitlendex loan specialists are not licensed financial advisers or lenders of record. You acknowledge that you are not relying on any statements made during such consultations as the basis for any financial decision and that you assume sole responsibility for any actions you take following a consultation.
The Platform includes a loan calculator tool that allows you to estimate loan amounts, Collateral requirements, LTV ratios, and indicative Interest Rates based on real-time data from the Templar Protocol. All outputs from the loan calculator are estimates and may differ from the actual terms available at the time of loan origination. Bitlendex makes no representation that any displayed rate or loan amount will actually be available to transact in.
To originate a Loan, you must deposit Bitcoin as Collateral and comply with all applicable KYC and onboarding requirements. Loan terms, including the Interest Rate and applicable LTV thresholds, are determined in real time by the Templar Protocol at the time of origination and are displayed on the Platform before you confirm. Loans have a fixed term of 12 months. You may repay your outstanding Loan balance, in whole or in part, at any time prior to the end of the term without penalty.
Interest accrues on your outstanding Loan balance at the Interest Rate determined by the Templar Protocol, which is variable and may change over time. The current Interest Rate applicable to your Loan is displayed in your Account.
Upon origination of a Loan, proceeds may be disbursed as USDC to a wallet address you designate or as fiat USD to a verified bank account on file, in each case subject to applicable KYC verification and the availability of fiat payment rails. Fiat disbursements and repayments are processed through Cybrid’s licensed payment infrastructure. Disbursement timelines are subject to applicable processing times and Cybrid’s operational requirements.
Your Bitcoin Collateral is held pursuant to MPC custody infrastructure involving BitGo and Fireblocks nodes for the duration of your Loan. Bitlendex does not have unilateral access to or control over your Collateral.
Your LTV ratio is monitored continuously by the Templar Protocol. If your LTV ratio rises above the applicable Liquidation Threshold (as displayed on the Platform), your Collateral may be partially or fully liquidated automatically by the Templar Protocol to repay outstanding principal, accrued interest, and applicable fees. Liquidation is executed on-chain by the Templar Protocol without further action by Bitlendex and may occur rapidly during periods of Bitcoin price volatility.
You are solely responsible for monitoring your LTV ratio and for maintaining sufficient Collateral to avoid liquidation. Bitlendex may, in its discretion, attempt to provide alerts or notifications regarding LTV movements, but is under no obligation to do so and cannot guarantee delivery or timeliness of any such alerts. You should not rely on any notification as a substitute for actively monitoring your position.
Bitlendex charges fees in connection with the Services, which may include origination fees, Interest on outstanding Loan balances, and other fees as disclosed on the Platform. All applicable fees are displayed before you confirm any transaction. Bitlendex reserves the right to update its fee schedule from time to time upon not less than fourteen (14) days’ advance notice. Updated fees will be posted on the Platform, and your continued use of the Platform following the effective date of any update constitutes acceptance of the revised fees.
Fiat disbursement and payment processing fees charged by Cybrid or its banking partners may apply and will be disclosed at the time of transaction. You are solely responsible for any fees imposed by your bank or financial institution in connection with payments to or from the Platform.
KYC requirements apply on a continuous basis throughout the life of your Account, not only at onboarding. Bitlendex and Cybrid reserve the right to request additional identity documentation, source of funds information, or other customer due diligence materials at any time, including in connection with specific transactions, changes in your account activity, regulatory requirements, or periodic review obligations. You agree to provide all such information promptly and accurately upon request.
If your circumstances change in any way that would affect your representations under Section 4 (including a change in your jurisdiction of residence, beneficial ownership, or source of funds), you must notify Bitlendex promptly. Failure to update your information or to provide requested documentation may result in suspension or termination of your Account and access to the Services.
Bitlendex and Cybrid conduct ongoing OFAC screening and transaction monitoring in connection with all user accounts and transactions. You acknowledge and agree that: (i) your Account activity and transactions may be monitored for compliance with Applicable Law; (ii) Bitlendex and Cybrid may file suspicious activity reports or other regulatory disclosures as required by Applicable Law without prior notice to you; and (iii) Bitlendex and Cybrid may freeze, restrict, or block any transaction or account that triggers a compliance concern, pending investigation or regulatory direction.
You covenant that, throughout the life of your Account, you will not use the Platform or the Services in any manner that violates Applicable Law relating to anti-money laundering, counter-terrorist financing, economic sanctions, or any other financial crime. This obligation is ongoing and is not limited to the representations you made at the time of onboarding.
You acknowledge that Bitlendex’s compliance obligations may require it to take actions with respect to your Account, including suspending access, blocking transactions, or disclosing information to regulators or law enforcement, without prior notice to you and without liability to you for doing so, to the fullest extent permitted by Applicable Law.
Bitcoin Collateral deposited on the Platform is secured using MPC wallet infrastructure involving BitGo and Fireblocks nodes. This architecture is designed so that no single party has unilateral access to or control over Collateral. Bitlendex does not act as a custodian of record for your Collateral or any other Digital Assets held in connection with the Services.
Bitlendex is currently pursuing SOC 2 Type I certification. Security controls and infrastructure are subject to ongoing development, assessment, and enhancement. You should consider the security posture of any platform you use in connection with digital asset transactions.
Digital Assets are not protected by the Federal Deposit Insurance Corporation (“FDIC”), the Securities Investor Protection Corporation (SIPC), or any other governmental or private deposit insurance or investor protection scheme. Any fiat currency held by Cybrid or its banking partners in connection with disbursements or repayments may be held at FDIC-insured institutions, but any applicable FDIC insurance coverage is provided by those institutions (not by Bitlendex or Cybrid) and is subject to standard limits and conditions. Bitlendex makes no representation regarding the availability or extent of FDIC coverage or other arrangements for fiat balances held by Cybrid or its banking partners.
Your Platform account is authenticated through Privy. You are solely responsible for maintaining access to your Privy-managed credentials and wallet. Bitlendex cannot recover access to your Account or Collateral if you lose access to your authentication credentials. To the fullest extent permitted by Applicable Law, Bitlendex is not responsible for losses arising from your failure to safeguard your credentials or from unauthorized access to your Account.
USE OF THE PLATFORM AND THE SERVICES INVOLVES SUBSTANTIAL RISKS. WITHOUT LIMITING THE FULL RISK DISCLOSURE IN APPENDIX I, THE MOST IMPORTANT RISKS INCLUDE:
Price Volatility and Liquidation Risk. Bitcoin prices can be highly volatile and may decline rapidly. A significant decline in Bitcoin value may cause your LTV to exceed the Liquidation Threshold, resulting in partial or full liquidation of your Collateral. You could lose all of your Collateral. There is no guarantee that you will receive notice prior to liquidation.
Smart Contract Risk. All Loan terms, interest calculations, collateral management, and liquidation mechanics are governed by the Templar Protocol’s smart contracts on the NEAR blockchain. Smart contracts may contain bugs, vulnerabilities, or errors. Bitlendex has no ability to modify, pause, or reverse on-chain transactions executed by the Templar Protocol, and has no control over NEAR network performance, congestion, or consensus failures.
Interest Rate Risk. Interest Rates are variable and determined in real time by the Templar Protocol. Your Interest Rate may increase at any time, increasing the cost of your Loan and accelerating LTV deterioration.
Custody and Technology Risk. MPC infrastructure, blockchain networks, and authentication systems may experience outages, cyberattacks, or failures. Transactions may be delayed or, in the case of on-chain transactions, may be irreversible.
Regulatory Risk. The legal and regulatory framework applicable to Digital Assets and crypto-collateralized lending is evolving. Changes in law or regulation may restrict, suspend, or discontinue the Platform or Services.
SOC 2 Certification Not Yet Obtained. Bitlendex has not yet received SOC 2 Type I certification. Security controls are subject to ongoing development.
No FDIC or SIPC Protection. Digital Assets are not insured by the FDIC or SIPC.
By accessing or using the Platform and the Services, you acknowledge that you have read and understand the risks described in this Section 9 and Appendix I, and you agree to assume all such risks, including the risk of total loss.
You agree that you will not use the Platform or Services, directly or indirectly, to:
Bitlendex and its licensors own all right, title, and interest in and to the Platform and all associated software, content, text, graphics, user interfaces, images, logos, icons, and other materials (collectively, “Platform Materials”). Subject to these Terms, Bitlendex grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Platform Materials solely for your personal, non-commercial use in connection with the Platform.
You may not copy, reproduce, modify, distribute, or create derivative works from Platform Materials, decompile or reverse engineer any software associated with the Platform, or use any Bitlendex trademarks, logos, or trade names without prior written consent.
Any feedback, suggestions, ideas, product requests, or other input you provide to Bitlendex regarding the Platform or the Services (collectively, “Feedback”) may be used by Bitlendex without restriction, obligation, compensation, attribution, or accounting to you. By providing Feedback, you assign to Bitlendex all right, title, and interest in and to such Feedback and agree that Bitlendex is free to use, disclose, reproduce, modify, commercialize, and otherwise exploit Feedback for any purpose without any restriction or royalty.
You may deposit, transfer, or withdraw only Digital Assets supported by the Platform using supported networks, as indicated on the Platform. You are solely responsible for selecting the correct Digital Asset, wallet address, and network when initiating any deposit, transfer, or withdrawal. Transfers sent to an incorrect address or unsupported network may be lost and unrecoverable.
Deposits are credited to your Account only after the relevant blockchain network reaches the required number of confirmations. Bitlendex and Service Providers may delay crediting or processing deposits or withdrawals due to network congestion, compliance review, fraud prevention, security checks, or other operational requirements.
Blockchain transactions are generally irreversible. Bitlendex generally cannot reverse or cancel a transaction once broadcast to a blockchain network.
Bitlendex cannot guarantee that any transaction submitted to a blockchain network will be confirmed, processed, or executed as expected. Transactions may be delayed, dropped, reordered, or otherwise affected by the network or third-party validators. Without limiting Section 17, Bitlendex bears no liability for losses arising from the failure of any transaction to confirm, including the failure of a collateral top-up transaction to confirm in time to prevent liquidation, or from any network-level reordering of submitted transactions.
You are solely responsible for determining, reporting, and paying all taxes arising from your use of the Platform and the Services, including taxes arising from Loan origination, interest payments, Collateral deposits and withdrawals, and any liquidation events. Bitlendex does not provide tax advice. You should consult a qualified tax professional regarding your specific tax obligations.
Bitlendex may, at any time and without liability (except as required by Applicable Law), suspend, limit, restrict, or terminate your access to the Platform or your Account, including in the following circumstances: (i) you breach these Terms or any applicable Product Terms; (ii) Bitlendex determines that such action is necessary to comply with Applicable Law, a regulator request, court order, or law enforcement request; (iii) Bitlendex suspects fraudulent, manipulative, or unlawful activity in connection with your Account; (iv) your Account is subject to legal process or governmental inquiry; or (v) you do not meet or cease to meet any eligibility criteria applicable to the Platform or any Service.
Where practicable and legally permissible, Bitlendex will provide you with prior notice before suspending or terminating your Account, except in cases involving suspected fraud, illegal activity, security threats, or where immediate action is required by law or regulation.
Upon termination, any outstanding Loans must be repaid. Following repayment in full of all outstanding obligations, remaining Collateral will be released in accordance with the Templar Protocol’s smart contract mechanics, subject to any holds required by Applicable Law. Bitlendex will use commercially reasonable efforts to facilitate the release process but does not control the release of Collateral. Your obligations under Sections that by their nature should survive termination will survive, as set forth in Section 22.6.
By creating an Account, you consent to receive communications, disclosures, agreements, statements, notices, and other information from Bitlendex and applicable Service Providers electronically. Electronic Communications may be delivered by email, in-app notifications, SMS, push notification, or posting on the Platform. Electronic Communications are deemed “written” communications and satisfy any legal requirement that communications be provided in writing, to the extent permitted by Applicable Law.
You are responsible for maintaining accurate and current contact information associated with your Account. Bitlendex is not responsible for any failure to receive communications due to outdated contact information, spam filtering, or other factors outside Bitlendex’s reasonable control.
You may opt out of marketing communications at any time. Opting out will not affect your receipt of transactional, account-related, security, or legally required communications.
THE PLATFORM AND ALL PLATFORM MATERIALS (INCLUDING ANY DATA, PRICING, INTEREST RATE DISPLAYS, LTV CALCULATIONS, LOAN CALCULATOR OUTPUTS, AND OTHER TOOLS) ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITH ALL FAULTS, WITHOUT WARRANTIES OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BITLENDEX DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.
BITLENDEX DOES NOT REPRESENT OR WARRANT THAT: (A) THE PLATFORM WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (B) ANY DATA OR CONTENT DISPLAYED ON THE PLATFORM (INCLUDING INTEREST RATES, LTV RATIOS, COLLATERAL VALUATIONS, OR LOAN CALCULATOR OUTPUTS) WILL BE ACCURATE, COMPLETE, OR CURRENT; OR (C) ANY LOAN ORIGINATION REQUEST, DISBURSEMENT, COLLATERAL DEPOSIT OR WITHDRAWAL, OR OTHER INSTRUCTION SUBMITTED THROUGH THE PLATFORM WILL BE ACCEPTED, EXECUTED, OR COMPLETED WITHIN ANY PARTICULAR TIMEFRAME.
BITLENDEX IS NOT RESPONSIBLE FOR THE ACTS OR OMISSIONS OF THE TEMPLAR PROTOCOL, CYBRID, PERSONA, PRIVY, BITGO, FIREBLOCKS, OR ANY OTHER SERVICE PROVIDER, EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE LAW.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL BITLENDEX, ITS AFFILIATES, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, COLLATERAL VALUE, DATA, OR BUSINESS OPPORTUNITY, ARISING OUT OF OR RELATING TO THESE TERMS OR YOUR ACCESS TO OR USE OF (OR INABILITY TO ACCESS OR USE) THE PLATFORM OR ANY SERVICES, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR ANY OTHER LEGAL THEORY, EVEN IF BITLENDEX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
WITHOUT LIMITING THE FOREGOING, BITLENDEX IS NOT LIABLE FOR LOSSES ARISING FROM: (I) BITCOIN PRICE VOLATILITY, LIQUIDATION OF YOUR COLLATERAL, OR LTV THRESHOLD BREACHES; (II) SMART CONTRACT BUGS, ERRORS, OR EXPLOITS IN THE TEMPLAR PROTOCOL; (III) FAILURES, DELAYS, OR ACTS OR OMISSIONS OF CYBRID, PERSONA, PRIVY, BITGO, FIREBLOCKS, OR OTHER THIRD-PARTY SERVICE PROVIDERS; (IV) BLOCKCHAIN NETWORK CONGESTION, OUTAGES, OR IRREVERSIBLE TRANSACTIONS; OR (V) ANY SUSPENSION, RESTRICTION, OR TERMINATION OF YOUR ACCOUNT TAKEN IN ACCORDANCE WITH THESE TERMS.
TO THE EXTENT BITLENDEX IS DETERMINED TO HAVE ANY LIABILITY TO YOU NOTWITHSTANDING THE FOREGOING, BITLENDEX’S TOTAL AGGREGATE LIABILITY SHALL NOT EXCEED THE GREATER OF (A) ONE HUNDRED U.S. DOLLARS (USD $100) OR (B) THE TOTAL FEES PAID BY YOU TO BITLENDEX IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO LIABILITY.
THE LIMITATIONS IN THIS SECTION 17 SHALL NOT APPLY TO LIABILITY ARISING FROM A FINAL JUDICIAL DETERMINATION THAT SUCH LIABILITY RESULTED FROM BITLENDEX’S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT, OR INTENTIONAL VIOLATION OF LAW, OR TO THE EXTENT SUCH LIMITATIONS ARE PROHIBITED BY APPLICABLE LAW.
WITHOUT LIMITING THE FOREGOING, AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BITLENDEX BEARS NO LIABILITY FOR:
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU HEREBY RELEASE, WAIVE, AND FOREVER DISCHARGE BITLENDEX, ITS AFFILIATES, SERVICE PROVIDERS, AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS FROM ANY AND ALL CLAIMS, DEMANDS, LOSSES, LIABILITIES, AND DAMAGES OF EVERY KIND AND NATURE, KNOWN AND UNKNOWN, ARISING OUT OF OR IN ANY WAY CONNECTED WITH YOUR USE OF THE PLATFORM OR THE SERVICES, INCLUDING ANY DISPUTES WITH OTHER USERS OR THIRD PARTIES.
IF YOU ARE A CALIFORNIA RESIDENT, YOU EXPRESSLY WAIVE THE PROTECTIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” YOU ACKNOWLEDGE THAT YOU MAY LATER DISCOVER FACTS OR LAW DIFFERENT FROM OR IN ADDITION TO THOSE YOU NOW KNOW OR BELIEVE TO BE TRUE WITH RESPECT TO THE CLAIMS RELEASED HEREIN, AND YOU AGREE THAT THIS RELEASE SHALL APPLY IN ALL SUCH CIRCUMSTANCES.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE TO INDEMNIFY, DEFEND, AND HOLD HARMLESS BITLENDEX, ITS AFFILIATES, SERVICE PROVIDERS, AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS FROM AND AGAINST ANY AND ALL THIRD-PARTY CLAIMS, LOSSES, LIABILITIES, DAMAGES, JUDGMENTS, FINES, PENALTIES, COSTS, AND EXPENSES (INCLUDING REASONABLE ATTORNEYS’ FEES) ARISING OUT OF OR RELATING TO: (I) YOUR ACCESS TO OR USE OF THE PLATFORM OR THE SERVICES; (II) YOUR VIOLATION OF THESE TERMS OR ANY APPLICABLE LAW; OR (III) YOUR INFRINGEMENT OR VIOLATION OF ANY RIGHTS OF ANY THIRD PARTY.
Bitlendex may modify these Terms at any time. For material changes (including changes to fees, dispute resolution procedures, limitation of liability, or eligibility requirements), Bitlendex will provide advance notice by posting updated Terms on the Platform with a revised Last Updated date and, where reasonably practicable, by in-app notification or email to the address associated with your Account. Non-material changes take effect immediately upon posting without separate notice. Your continued use of the Platform following notice of any modification constitutes acceptance of the updated Terms. If you do not agree to any modification, your sole remedy is to discontinue use of the Platform and close your Account.
Bitlendex may, at any time and without liability, modify, suspend, terminate, or discontinue any aspect of the Platform or the Services, including supported Digital Assets, features, fee schedules, or Service Provider integrations. In the event of any material suspension or discontinuation of the Platform or Services, Bitlendex will use commercially reasonable efforts to provide users with outstanding Loans a reasonable period and, where practicable, alternative means to manage, repay, or close their positions.
Bitlendex is not liable for any delay, failure in performance, or interruption of the Platform or any Services resulting from causes beyond Bitlendex’s reasonable control, including: blockchain network congestion, outages, forks, or protocol failures; cyberattacks or security incidents affecting third-party infrastructure; acts of God; acts of civil or military authorities; war; terrorism; pandemics or public health emergencies; power or telecommunications failures; or acts or omissions of Service Providers, trading venues, custodians, or banks outside Bitlendex’s control. Nothing in this Section excuses your payment or repayment obligations that are due and payable under these Terms or applicable Product Terms, except to the extent prohibited by Applicable Law.
22.1 Entire Agreement. These Terms, together with any Product Terms, the Risk Disclosure (Appendix I), and the Privacy Policy, constitute the entire agreement between you and Bitlendex with respect to your use of the Platform and supersede all prior or contemporaneous understandings, agreements, or representations regarding the same subject matter.
22.2 Severability. If any provision of these Terms is held invalid, illegal, or unenforceable, that provision shall be modified to the minimum extent necessary to make it valid and enforceable, and the remaining provisions will remain in full force and effect.
22.3 No Waiver. No failure or delay by Bitlendex in exercising any right or remedy under these Terms will be deemed a waiver of such right or remedy.
22.4 Assignment. Bitlendex may assign, transfer, or delegate its rights and obligations under these Terms without your consent in connection with a merger, acquisition, change of control, or sale of assets. You may not assign any of your rights or obligations under these Terms without Bitlendex’s prior written consent.
22.5 Relationship of the Parties. Nothing in these Terms shall be construed as creating any partnership, joint venture, employment, or agency relationship between you and Bitlendex or any Service Provider.
22.6 Survival. All provisions of these Terms that by their nature should survive termination will survive, including: Section 7 (Ongoing AML, KYC, and Compliance Obligations, which expressly survive Account termination and continue to bind you with respect to any activity conducted prior to termination); Section 9 (Risk Disclosures); Section 11 (Intellectual Property); Section 13 (Taxes); Section 16 (No Warranties); Section 17 (Limitation of Liability); Section 18 (Release); Section 19 (Indemnification); Section 23 (Regulatory Cooperation); and Appendix II (Arbitration Agreement).
22.7 Privacy. By using the Platform, you acknowledge that Bitlendex and its Service Providers may collect certain data automatically or as part of onboarding and account management, including: identity and KYC documentation (collected and stored by Cybrid and Persona); wallet addresses and on-chain transaction data (which are inherently public on the relevant blockchain); authentication and session data (managed through Privy); and usage, analytics, and IP address data collected by Bitlendex through the Platform. Wallet addresses used through the Platform are recorded on public blockchains and are inherently public. For full details on how Bitlendex handles your information, see the Privacy Policy at bitlendex.com/privacy. Your use of the Platform constitutes acknowledgment of the data practices described in the Privacy Policy.
22.8 Unclaimed Property. If Bitlendex or a Service Provider holds assets or funds for you and your Account shows no signs of activity for a period specified by applicable law, those assets may be deemed abandoned and escheated to the relevant governmental authority. You are responsible for keeping your contact information current.
Bitlendex will comply with lawful requests for information from government authorities, courts, regulators, and law enforcement agencies, including FinCEN, OFAC, state financial regulators, and any other authority with jurisdiction over Bitlendex or its activities. Where permitted by Applicable Law and operationally practicable, Bitlendex will endeavor to notify affected users of such requests before complying; however, Bitlendex is under no obligation to provide such notice where prohibited by law, court order, or regulatory direction.
You acknowledge that Bitlendex’s compliance with legal and regulatory obligations may result in: (i) the suspension or restriction of your Account; (ii) the blocking or reversal of transactions; (iii) the disclosure of your personal information, Account data, or transaction history to authorities; or (iv) the termination of your access to the Platform or the Services. Bitlendex will not be liable for any losses, damages, or claims arising from actions taken in good faith to comply with Applicable Law or in response to lawful regulatory requests.
These Terms and any Dispute are governed by the laws of the State of Delaware, without regard to its conflict of law principles. The Federal Arbitration Act (9 U.S.C. sections 1-16) governs the interpretation and enforcement of the arbitration agreement set forth in Appendix II.
Appendix II (Arbitration Agreement and Class Action Waiver) is incorporated by reference into these Terms and governs the resolution of Disputes between you and Bitlendex. Except as expressly provided in Appendix II, you and Bitlendex agree that any Dispute will be resolved solely through final and binding arbitration rather than in a court of general jurisdiction.
TO THE FULLEST EXTENT PERMITTED BY LAW, YOU AND BITLENDEX AGREE THAT ALL DISPUTES SHALL BE RESOLVED ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE PROCEEDING. BY AGREEING TO ARBITRATION, YOU AND BITLENDEX ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY.
If you have questions about these Terms, please contact Bitlendex at legal@bitlendex.com.
This Risk Disclosure supplements the risk disclosures contained in Section 9 of the Terms and is incorporated by reference into the Terms. Capitalized terms used herein have the meanings given in the Terms.
Your Bitcoin Collateral may be partially or fully liquidated by the Templar Protocol if your LTV ratio exceeds the applicable Liquidation Threshold. Liquidation may occur rapidly during periods of Bitcoin price volatility, without prior notice, and you may lose all of your Collateral. The Liquidation Threshold is set by the Templar Protocol and may not reflect the current market price at the precise moment of liquidation due to network latency, oracle lag, or market conditions.
The Templar Protocol is governed by smart contracts designed to operate autonomously on-chain on the NEAR blockchain. Smart contracts may contain bugs, vulnerabilities, or design errors that could result in loss of Collateral or loaned assets. Bitlendex does not have the ability to unilaterally modify, pause, upgrade, or reverse the execution of the Templar Protocol’s smart contracts or its cross-chain execution infrastructure. There is no guarantee that the Templar Protocol, the NEAR blockchain, or any dependent network will perform as intended under all market conditions.
The Interest Rate applicable to your Loan is variable and determined in real time by the Templar Protocol. Interest Rates may increase at any time, increasing the cost of your Loan and the rate at which your LTV ratio rises. Bitlendex does not set, control, or cap Interest Rates.
Your Collateral is secured using MPC infrastructure involving BitGo and Fireblocks nodes. While MPC architecture is designed to prevent any single party from having unilateral access to Collateral, no custody solution is risk-free. Hardware failures, software bugs, cyberattacks, or the insolvency or operational failure of BitGo, Fireblocks, or other infrastructure providers could result in loss of or delayed access to Collateral. SOC 2 Type I certification for the Platform has not yet been obtained. In addition, Collateral committed through the Services may be held, processed, or routed through omnibus wallets, shared MPC key shares, or other aggregated infrastructure in which your Collateral is not individually segregated on-chain from that of other users. In the event of a loss, exploit, regulatory seizure, or insolvency event affecting any such shared infrastructure, losses may be allocated across all affected users, and you may not recover the full amount of your Collateral regardless of whether the loss was attributable to your activity.
The regulatory framework applicable to crypto-collateralized lending, digital assets, and related services is unsettled and evolving rapidly. Changes in law, regulation, or governmental action may require Bitlendex to modify, restrict, suspend, or discontinue the Platform or the Services in one or more jurisdictions. Bitlendex cannot predict the impact of future regulatory developments on its operations or your ability to access the Services. In particular, regulatory authorities including the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and comparable authorities in other jurisdictions may at any time determine that the Loans, the Templar Protocol, the Bitcoin Collateral arrangements, or any other aspect of the Services constitutes a security, investment contract, commodity, commodity pool, lending activity, or money transmission or money services business, or other regulated product or activity under the Howey test or equivalent frameworks. Any such determination could require Bitlendex or a Service Provider to register, obtain licenses, or cease operations; result in enforcement actions, fines, or penalties; expose you to regulatory inquiries or consequences; or restrict the availability, transferability, or use of the Services. No representation is made regarding the current or future regulatory classification of the Loans, the Templar Protocol, or the Services. Separately, the Services have not been authorized under Regulation (EU) 2023/1114 (the Markets in Crypto-Assets Regulation, “MiCA”) or any national implementing legislation, and regulatory authorities in the European Union, the United Kingdom, or other jurisdictions may determine that the Services constitute a regulated crypto-asset service, consumer-credit activity, or other regulated activity requiring authorization in that jurisdiction. Such determinations could restrict or prohibit the availability of the Services in one or more jurisdictions or require compliance with prudential, conduct, and governance requirements to which Bitlendex is not currently subject.
Fiat disbursements and repayments are processed through Cybrid and its banking partners. Bitlendex has no control over the availability or timing of fiat processing. Fiat payment rails may experience delays, outages, or failures. Fiat balances held by Cybrid or its banking partners may or may not be covered by FDIC insurance, subject to applicable limits and conditions. Your Loan proceeds are denominated in USDC, a stablecoin issued by a third party. There is no guarantee that USDC will maintain its intended one-to-one peg to the U.S. dollar. USDC may lose its peg, become illiquid, or be subject to issuer insolvency, suspension of redemptions, regulatory action, or freezing of individual balances, any of which could impair the value or usability of your Loan proceeds or your ability to repay your Loan.
Many aspects of the Services depend on third-party Service Providers, including Cybrid, Persona, Privy, BitGo, and Fireblocks. The insolvency, operational failure, or regulatory action against any Service Provider could delay or prevent your access to Services, Collateral, or loan proceeds.
The Platform, authentication services, and blockchain networks may experience outages, congestion, cyberattacks, or other failures. On-chain transactions are generally irreversible. Mistaken transfers (including transfers to incorrect addresses or unsupported networks) may be unrecoverable. Privy-managed credentials that are lost or compromised may result in permanent loss of Account access.
Digital asset transactions, including Loan origination, interest payments, Collateral deposits and withdrawals, and liquidation events, may have tax consequences under U.S. federal, state, and local law. You are solely responsible for determining and satisfying your tax obligations. Bitlendex does not provide tax advice and cannot predict how applicable tax law will apply to your transactions.
Digital assets, including Bitcoin, are highly volatile, and their prices can decline rapidly and without warning. Because your Loan is secured by Bitcoin Collateral, a decline in the price of Bitcoin directly increases your LTV ratio and your risk of liquidation. Bitcoin may also exhibit high correlation with other risky asset classes, so that its price may decline at the same time as your other holdings, amplifying overall portfolio losses. There is no guarantee that liquid markets will exist for Bitcoin or USDC at any given time; markets may become thin, fragmented, or subject to sudden illiquidity during periods of market stress, high volatility, or technical disruption, which may affect liquidation pricing, your ability to add Collateral or repay your Loan, and the execution of Protocol functions. Concentrating a significant portion of your assets in Bitcoin or in a single platform concentrates risk, and a single adverse event could result in substantial or total loss. You should consider your overall financial situation and risk tolerance before using the Services.
The Platform and the Templar Protocol—including all related software, smart contracts, blockchain networks, custody infrastructure, and digital asset wallets—are experimental and in continuous development. The Services are provided “as is,” “where is,” and “as available,” without warranties of any kind, express or implied, including warranties of merchantability, fitness for a particular purpose, or non-infringement. Crypto-collateralized lending through autonomous on-chain protocols is a nascent activity with limited operating history, and the experimental nature of the Services could lead to unexpected outcomes, including the total loss of your Collateral or loaned assets.
Bitlendex and its Service Providers may, at any time and in their sole discretion, freeze, suspend, restrict, or delay any transaction, transfer, withdrawal, repayment, or other operation involving your Account, Collateral, or use of the Services in connection with compliance monitoring, anti-money laundering or sanctions screening, identity verification, or other legal or regulatory requirements. During any such restriction, you may be unable to access, transfer, repay, or otherwise manage your Collateral or Loan; the value of your Collateral may fluctuate and you may incur losses or be liquidated due to price movements; and you may be unable to respond to changes in your LTV ratio. Bitlendex has no obligation to provide prior notice of, or to disclose the basis for, any such action, and shall have no liability for any losses arising from it. In addition, Bitlendex and its Service Providers may be compelled by applicable law, court order, or governmental directive to freeze, seize, transfer, or otherwise dispose of digital assets or to restrict access to the Services, and shall have no liability for compliance with any such order or directive.
All information provided through the Platform is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Neither Bitlendex nor any Service Provider acts as an advisor, agent, trustee, or fiduciary to you, and your use of the Services is conducted on an arm’s-length, non-fiduciary basis. Without limitation, no validator or node operator, oracle or data provider, custodial or key-management intermediary (including BitGo and Fireblocks), payment or banking partner (including Cybrid), identity-verification provider (including Persona), wallet provider (including Privy), or other third-party service provider involved in the operation of the Services owes any fiduciary, advisory, or trust-based duty to you. You are solely responsible for your own financial decisions, and you should seek independent professional advice tailored to your circumstances before using the Services.
You are solely responsible for monitoring the status of your Loan and Collateral, including your LTV ratio, the price of Bitcoin, accrued interest, applicable Liquidation Thresholds, and your ability to repay your Loan or to add Collateral. Bitlendex has no obligation to notify you of adverse events affecting your position, including when your position is approaching or has exceeded a Liquidation Threshold. You are responsible for safeguarding your credentials and wallet access, for ensuring the accuracy of any wallet address or transaction details you provide, and for conducting your own due diligence before using the Services.
PLEASE READ THIS APPENDIX CAREFULLY. IT REQUIRES YOU AND BITLENDEX TO RESOLVE MOST DISPUTES THROUGH BINDING, INDIVIDUAL ARBITRATION AND WAIVES YOUR RIGHT TO A JURY TRIAL AND TO PARTICIPATE IN A CLASS OR REPRESENTATIVE ACTION.
You and Bitlendex agree that any Dispute (as defined in the Terms) shall be resolved by final and binding arbitration, except as provided in Section 5 of this Appendix. This agreement to arbitrate is intended to be broadly interpreted and includes all claims based on contract, tort, statute, fraud, misrepresentation, or any other legal theory, whether arising before or after these Terms were entered into.
Before initiating arbitration, you agree to contact Bitlendex at legal@bitlendex.com to describe your Dispute and seek informal resolution. Bitlendex will attempt to resolve the Dispute informally within 30 days. If the Dispute is not resolved within 30 days of your initial notice, either party may initiate arbitration.
The arbitration shall be conducted by the American Arbitration Association (AAA) under its Consumer Arbitration Rules (or Commercial Arbitration Rules, as applicable), as modified by this Appendix. The arbitration shall be held in Wilmington, Delaware, or, at your election if you are a consumer, by telephone or videoconference. The arbitrator’s award shall be in writing and shall provide the basis for the decision. The arbitrator may award any remedy available at law or in equity on an individual basis.
The costs of arbitration, including AAA filing fees and arbitrator fees, shall be allocated in accordance with the AAA’s Consumer Arbitration Rules, except that Bitlendex shall pay any filing fees and arbitrator fees that exceed what you would otherwise pay to file in a court of competent jurisdiction.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AND BITLENDEX AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE, CONSOLIDATED, PRIVATE ATTORNEY GENERAL, OR REPRESENTATIVE PROCEEDING. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS. IF THIS CLASS ACTION WAIVER IS FOUND UNENFORCEABLE WITH RESPECT TO A PARTICULAR CLAIM, THAT CLAIM SHALL BE SEVERED AND LITIGATED IN COURT, WHILE REMAINING CLAIMS SHALL BE ARBITRATED.
Notwithstanding the foregoing, either party may seek temporary or preliminary injunctive or other equitable relief in a court of competent jurisdiction to protect confidential information, intellectual property rights, platform security, or to enforce the acceptable use restrictions in Section 10, pending arbitration. Either party may also bring individual claims in small claims court if the claim qualifies.
You may opt out of this arbitration agreement by sending written notice to legal@bitlendex.com within 30 days of first accepting these Terms. Your notice must state that you opt out of the arbitration agreement and must include your name and email address associated with your Account. If you opt out, the governing law and jurisdiction provisions of Section 22 of the Terms will continue to apply.
This Appendix II is governed by the Federal Arbitration Act (9 U.S.C. sections 1-16). If any provision of this Appendix is held unenforceable, the remaining provisions will remain in effect. This Appendix II survives any termination of the Terms or your Account.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR RELATED TO YOUR USE OF THE PLATFORM, THE SERVICES, OR THESE TERMS MUST BE FILED WITHIN ONE (1) YEAR AFTER THE DATE ON WHICH THE CLAIM OR CAUSE OF ACTION AROSE, OR IT WILL BE FOREVER BARRED. THIS ONE-YEAR LIMITATION APPLIES REGARDLESS OF ANY STATUTE OF LIMITATIONS TO THE CONTRARY, EXCEPT THAT IT WILL NOT APPLY WHERE PROHIBITED BY APPLICABLE LAW (INCLUDING STATUTORY CLAIMS WHOSE LIMITATIONS PERIODS CANNOT BE CONTRACTUALLY SHORTENED) OR WHERE A LONGER PERIOD IS REQUIRED BY APPLICABLE LAW FOR CONSUMER CLAIMS.
