The contract trading services provided by Zhenbi are highly leveraged and risky. Therefore, users need to agree to this agreement to open contract transactions on Zhenbi, which also means that you fully understand and agree with the risks of contract transactions on Zhenbi. Please read carefully, and fully understand the content of each clause. Unless the user has read and accepted all the terms of this agreement, the user has no right to use Zhenbi contract insurance products or corresponding services. The user's actions such as logging in, viewing, and publishing information to the service shall be deemed to have read and agreed to the constraints of this agreement.
- Contract insurance is a contract subsidiary product launched by Zhenbi. Zhenbi is responsible for the design management and operation servicesof the product.
- The user guarantees that he has reached the age of 18; the content of this agreement is not excluded by the laws of the user's country or region and abides by the corresponding laws of the country; abide by the trading rules of the platform and the trading rules of virtual contract of blockchain products. If the aforementioned conditions are not met, the user should immediately terminate the registration or stop using the service.
- Rules of contract insurance products
2.1 The subject matter of contract insurance includes virtual currency varieties approved by Zhenbi. The contract insurance is priced in USDT when trading.
2.2 When users are trading, they can purchase insurance for a single order to protect their capital and profit of the contract transaction.
2.3 When the user's insurance position is closed (including user closing the position/system closing the position), the profit and loss when the user closes the position will be calculated. If a loss occurs when the position is closed, the user can apply for compensation. The actual payout ratio will be paid.
- Rules of risk control
3.1 The purpose of the contract insurance products is to protect investors from the risk of price fluctuations during normal transactions. If users maliciously profiting through taking advantages of the insufficiency of the product design or system failures and other unreasonable circumstances, Zhenbi platform has the right to refuse compensation applications.
3.2 If the price of the blockchain asset fluctuates abnormally, the trading stops by the platform or is delisted or suspended, the community splits and other abnormal activities, due to the project, team, the trading platform that determines the contract index price or or the community of the blockchain asset, Zhenbi has the right to suspend the purchase of insurance, temporarily adjust the proportion of the compensation, and suspend the compensation to ensure the normal operation of the contract product.
3.3 The new types of contracts in the Perpetual Contract Innovation Zone have the characteristics of large price fluctuations and higher risks. In the course of trading, innovation zone varieties may be adjusted according to market conditions, not limited to reducing leverage, suspending trading, or delisting etc..
- Responsibility statement
4.1 Zhenbi will do its best to provide users services that ensure continuity and security; however, Zhenbi cannot foresee or prevent legal, technical and other risks at any time, including but not limited to force majeure, viruses, Trojan horses, hacker attacks, system instability, third-party service defects, government actions or other reasons may cause service interruption, data loss, and other losses and risks.
4.2 Zhenbi shall not be liable for damages when the system platform cannot operate normally due to the following conditions, which make the user unable to use various services or cannot trade normally, such conditions include but are not limited to: during the maintenance period of the system; failure of telecommunications equipment that causes data transmission is not possible; due to force majeure factors such as typhoons, earthquakes, tsunamis, floods, power outages, wars, terrorist attacks and etc., which cause the platform system cannot be performed correctly; due to hacker attacks, computer virus or attacks, technical adjustments or failures of the telecommunications sector, website upgrades, bank issues, temporary shutdowns caused by government regulations and other service interruptions or delays which could affect the normal operation of the network; losses caused by technical problems that cannot be predicted or solved by the existing technical forces in the industry; losses of users or other third parties due to the fault or delay of a third party.
4.3 Zhenbi has the right to cancel the abnormal transaction results according to the actual situation, and roll back all trades for a certain period of time, when abnormal situations as these take places: system failures, network reasons, DDos and other hacking attacks and other unexpected factors that could cause abnormal transactions, market interruptions, and etc..
4.4 You understand that technical problems may happen unexpectedly, so Zhenbi will not be responsible for any losses caused by technical problems, including but not limited to: failure, delay, interruption or other failures in connection with this service; the service is stopped, delayed, unresponsive, or other malfunctions due to overload; failures caused by the inability to obtain necessary data from a third party via the internet correctly.
- The risk of trading digital assets
Digital asset transactions involve significant risks. Trading or holding digital assets can cause you losses. Therefore, you should carefully consider whether you want to trade digital assets or related derivatives and use leverage based on your financial situation.
5.1 Zhenbi believes that digital assets should not be called money or fiat currency, because they are not backed by the government or the central bank. Zhenbi cannot guarantee the order or stability of the digital asset market. You should be cautious in trading digital assets (and any other assets). Prices could fluctuate at any time. Due to price fluctuations, you may have large profits or losses. Any digital asset or trading position may fluctuate significantly and may even become valueless.
5.2 When using this service, if the user or the user’s transaction instructions were wrong (including but not limited to factors such as price, quantity) that led to losses of the transaction, the responsibility for the losses will be the user’s own to bear when it is not due to the trading rules of the platform.
5.3 Any loss caused by the user himself, shall be borne by the user. The fault includes but is not limited to: failure to follow the transaction prompts, failure to perform transaction operations in time, forgotten or leaking passwords, passwords being cracked by others, or users’ computers being hacked by others .
5.4 When using this service, if the user profits improperly due to a potential undiscovered loophole in the transaction rules, the platform will contact the user to recover the sum, and you must cooperate effectively, otherwise the platform will take actions include but not limited to recourse measures such as restricting account transactions, freezing account funds, and suing to the jurisdiction court. The recourse costs incurred by Zhenbi due to the user's failure to cooperate effectively will also be borne by you.
Zhenbi promises: Without legal reasons or the prior permission of the user, Zhenbi will not disclose the user’s password, name, mobile phone number and other non-public information to any third party; under the following statutory circumstances, the user’s personal information will be partially or fully disclosed: disclosure to the user or other third parties with the consent of the user; in accordance with relevant laws, regulations and other relevant provisions, or the requirements of the administrative agency, required disclosure to the administrative, judicial or other legal third parties; other disclosure Zhenbi performs in accordance with laws, regulations and other relevant provisions.
In order to use any service on this platform, you must first register an account by providing your name, email and password, then confirm your acceptance of these terms of service. You agree to not allow anyone to use, direct your account, and update Zhenbi on any changes to your information, or whether your account has been stolen. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs or other credentials and login information (collectively referred to as "passwords") that have been provided to you, or the aforementioned passwords generated by using the service . If you lose your password, you may not be able to access your account. You agree to immediately notify Zhenbi of any unauthorized use of your password. Zhenbi will not be liable for any loss or damage caused by unauthorized use of your password. Since Zhenbi is a trading website, the same passwords must not be used for login passwords, withdrawal passwords, transaction passwords, SMS passwords, Google passwords, etc., otherwise there will be security risks, and the relevant responsibilities shall be borne by the users themselves. Users have the right to choose whether to become a user of Zhenbi. Whoever chooses to become a registered user of Zhenbi.com can create and modify their nicknames by themselves. The naming and use of user names and nicknames shall comply with relevant laws, regulations and network ethics. Usernames and nicknames must not contain any insults, threats, obscenity, abuse, or other words that infringe on the legal rights of others. Once you have successfully registered and became a user of Zhenbi, you will get a user name (user mailbox) and password, you shall be responsible for all activities and events that occur after logging into the system with this group of user names and passwords, and be liable for all directly or indirectly legal issues by the use of the words, actions and other performance under this user name. If the user password is lost, the password can be reset through the link sent by the registered email address, and the user who registered with the mobile phone number can retrieve the original password through the mobile phone number. If users find any illegal use of user names or other security vulnerabilities, they should immediately inform the Zhenbi platform.
- Service change, interruption, termination, restrictionand freeze
8.1 Zhenbi may change the content of the service, and may also interrupt, suspend or terminate the service.
8.2 At the time of the transfer, Zhenbi may transfer the relevant assets under this service to a third party; Zhenbi may also transfer part or all of the services under this agreement to a third party for operation or performance after unilateral notification to you. The specific transferee shall be subject to the notice sent by Zhenbi.
8.3 In case of any following situations, Zhenbi reserves the right to suspend or terminate the services provided to you without notice:
(1) According to the law, you should submit true information, but if the personal information you provided is untrue, or inconsistent with the information at the time of registration and failed to provide reasonable proof;
(2) You violated relevant laws and regulations or the provisions of this agreement;
(3) In accordance with the law or the requirements of the competent authority;
(4) For safety reasons or other necessary circumstances.
8.4 Zhenbi has the right to charge according to this agreement. If you fail to pay in full on time, Zhenbi reserves the right to suspend, stop or terminate the service.
8.5 You can close your account at any time. You are still obligated to fulfill your responsibilities for any pending transactions. In addition, you will be responsible to Zhenbi for any expenses incurred before the closure. Zhenbi can also decide to terminate your account at any time, and notify you by email or other means. If it is suspected that you have failed to comply with these terms, constitute an unacceptable fraud or management risk to Zhenbi, or you provided us with false, incomplete, inaccurate or misleading information, Zhenbi may suspend your access to the service. Zhenbi will not be liable for any losses caused by Zhenbi closing or suspending your account.
8.6 The user agrees that for the security of the user’s account and its digital currency, if a risk may occur to any accounts under the circumstances of the provisions of this agreement, the provisions of laws and regulations and legal documents, the government’s requirements in accordance with administrative powers and the company’s own judgment, Zhenbi has the right to freeze all or part of the accounts under the username, that is, to temporarily close some or all of the use rights of these accounts. The reverse process of freezing is thawing, that is, when the platform ends the freeze of the frozen accounts. When freezing occurs, if a user applies for unfreezing, Zhenbi has the right to determine whether to allow full or partial unfreezing based on the aforementioned reasons for freezing in accordance with the provisions of this paragraph. The user should fully understand that an application for unfreezing is not necessarily allowed, and when applying for unfreezing, the user shall cooperate to meet relevant requirements of the platform to verify the user's identity, and provide including but not limited to: identity information, ID card, passport, other valid identification documents and other information or documents required by the platform.
- Refusal of guarantee and exemption
9.1 Zhenbi as a third-party platform of the "network service provider", does not guarantee that the information and services on the website platform can fully meet the needs of the users. Zhenbi shall not be liable for incidents of errors, insults, defamation, omission, obscenity, pornography or profanity that users may encounter in the process of using the services of Zhenbi.
9.2 Due to the particularity of the internet, Zhenbi does not guarantee that the service will not be interrupted, nor the timeliness and safety of the service, and does not bear any responsibility not caused by Zhenbi. Zhenbi strives to enable users to safely access and use this website, but Zhenbi does not declare or guarantee that this website or its server is free of viruses or other potentially harmful factors, therefore, users should use industry-recognized software to check and kill any virus in the file downloaded from Zhenbi themselves.
9.3 Zhenbi is not responsible for the failure when saving, modifying, deleting information posted by the users. We are not responsible for typographical errors, negligence, etc. on the website that are not deliberately caused by Zhenbi. Zhenbi has the right but no obligation to improve or correct omissions and errors in any part of this website.
9.4 Unless Zhenbi expressly agrees in writing, Zhenbi does not guarantee any content information obtained by users from this website in any way (including but not limited to including, via, connecting or downloading), including but not limited to advertisements, etc. and its accuracy, completeness, and reliability; Zhenbi is not responsible for any products, services, information or materials purchased or obtained by users due to the content and information on this website. The user shall bear the risks caused by the use of the information content of this website on his own.
9.5 The user comments posted by all users on Zhenbi only represent the user's personal views. It does not mean that this website agrees with their views or confirms their descriptions. This website does not bear any legal responsibility for user comments.
9.6 Zhenbi has the right to delete all kinds of information on Zhenbi that does not comply with the law or agreement, and reserves the right not to notify users.
9.7 All notices sent to users on Zhenbi will be delivered via official page announcements, site letters, e-mails, customer service calls, SMS or regular letters. For any activities or information that are not obtained through the official channels of Zhenbi, such as prizes, discounts, etc., Zhenbi will not bear legal responsibility.
9.8 Zhenbi has the right to adjust the fees and charges of recharge, withdrawal, transaction, etc. according to market conditions, and has the right to decide the termination of the free promotion period.