Terms of Service

Lendary.net is a service provided by CapTec Analytics GmbH (hereinafter referred to as "provider"). The provider has developed a software and intends to grant the user the right to use the software temporarily for a performance-related fee.

The following conditions apply:

1. Description of the software
1.1 The software described below relates to the following context: Some trading platforms offer market participants the function of making their assets held on the platform available to other market participants for a certain period of time and thus earning interest income (so-called "margin funding"). Market participants use this margin funding and the assets made available at short notice to engage in leveraged trading or short selling within the exchange.
1.2 The functionality of the software described below refers to the machine-based provision of short-term funding in USD for the margin accounts just mentioned. By operating the software on a permanent basis, users can achieve the highest possible efficiency in the use of their capital by continuously reinvesting incoming interest income and striving to obtain the best possible rates. The software thus primarily serves the purpose of automating the margin funding process and does not perform any other functions, in particular no trading or investment transactions.
1.3 The software refers to the implementation of the discussed functionality on the trading platform "Bitfinex" (www.bitfinex.com).
1.4 The above-mentioned scope of functions of the software refers exclusively to trading with USD.

2. Operating requirements
2.1 An active API connection with the trading platform is required to operate the software.
2.2 For this purpose, the user must provide the provider with his API key and his API secret before the software is put into operation. The configuration of this API access shall be designed in such a way that the software can only access the action categories "Orders", "Margin Trading" and "Margin Funding", but never other asset transactions or even debits from the platform.
2.3 Furthermore, in order to use the software, the user is required to transfer an amount in USD of his own choice, which can be changed at any time, to his so-called "Funding Wallet" on the trading platform.

3. Use of the software
3.1 The provider grants the user the temporary use of the software.
3.2 The user shall always decide on activity or non-activity of the software by
a) effecting activation or deactivation by informally requesting the Provider or
b) making a change to the API information or transferring USD from his "Funding Wallet". In addition, the user decides by means of a control function provided for this purpose in his personal dashboard what amount of capital is to be made available at all at a given time.
3.3 Upon request of the user to activate the software, the provider shall also be obliged to maintain and further develop the software as long as the trading platform provides the basic functionality of API-based margin funding.
3.4 The provider reserves the right to further develop the software independently, to make it available to third parties, both in the sense of a user agreement and in the sense of a permanent transfer, provided that the use of the software within the scope of this agreement is not affected by this.

4. User fees
4.1 For the use of the software the user undertakes to pay 20% (plus value added tax) of all USD returns achieved during the use of the software in the "Funding Wallet" area on the trading platform.
4.2 The fees shall be settled after the end of each month on the basis of the sum of all daily distributed "Margin Funding Payments" in the user account, which are credited in USD and which will be virtually converted to EUR on a daily basis for the purpose of invoicing.
4.3 The usage fee shall be shown in EUR and automatically (charge to the stored payment method) billed on a monthly basis.
4.4 The usage fee can be lowered through participation in the affiliate program.

5. Termination
5.1 Both parties can terminate the contract at the end of each month.
5.2 The notice period is 20 days to the end of the month.
5.3 Notice of termination must be given in writing and can also be sent by email.

6. Provider guarantees and liability
6.1 The provider guarantees by way of an independent guarantee promise in accordance with § 311 BGB that he is the owner of the software, that he can freely dispose of it and that the software is not encumbered with rights of third parties which limit the (future) use of the software by the user in any way.
6.2 The provider is not liable for technically improper use of the software, nor for interventions or further developments by the user, nor for operational errors resulting from factors outside the provider sphere of influence, such as modifications to API information.
6.3 The provider shall not be liable for financial losses resulting from financial transactions made in connection with the operation of the software. This applies in particular to the safekeeping of the capital managed on the external trading platform "Bitfinex". Reference is made to the general terms and conditions of the trading platform (https://www.bitfinex.com/legal/terms). The provider is not liable for any of the risks associated with the use of the trading platform (such as account blocking, accessibility, access to capital, continued existence of the trading platform). Irrespective of the "margin funding" functionality described above, the provider has no other access to the capital deposited by the user with the platform, the safekeeping of which is the sole responsibility of the user.
6.4 The provider does not accept any warranty claim for any returns which the user wishes to achieve with the software. This refers in particular to the interest rates offered via the "Bitfinex" trading platform as well as to the basic provision of the "margin funding" functionality described above.
6.5 The provider does not provide any assessment or advice regarding the legal and regulatory situation within which the software is used. The legal clarification of the legal admissibility of the operation of the software in the respective context is the sole responsibility of the user.
6.6 The provider provides the user with an annual report on the interest income accrued as a download, in which the income is shown in both euros and dollars. The user can also use the report to prepare his tax return. However, this does not include any tax advice from the provider.

7. Data protection
7.1 In connection with the initiation, conclusion, handling and reversal of this contract, data is collected, stored and processed by the provider. This is done within the framework of the legal provisions. The provider does not pass on any of the user personal data to third parties, unless he is legally obliged to do so or the user has given his express prior consent. The provisions of the Federal Data Protection Act are always observed. In addition, Google Analytics collects data on the users server behaviour. This data is completely anonymous and only used for internal processing by the provider.

8. Final clauses
8.1 All legal declarations and other communications in connection with the implementation of these GTCs must be in writing, unless another form is prescribed by mandatory law. Transmission by letter or fax or, if the respective other party expressly confirms receipt, by e-mail shall be sufficient for the written form.
8.2 These GTCs are subject to German law with the exception of the provisions of international private law and the UN Convention on Contracts for the International Sale of Goods.
8.3 The place of jurisdiction for all disputes arising from and in connection with these GTCs is, to the extent permitted by law, the registered office of the user.
8.4 Should any provision of these GTCs be void, invalid or unenforceable in whole or in part, or be declared void, invalid or unenforceable, this shall not affect the validity and enforceability of the remaining provisions. The parties agree to replace the void, invalid or unenforceable provision with a valid and enforceable provision that comes closest to the economic intent and purpose of the void, invalid or unenforceable provision. This applies accordingly to unintentional gaps in these GTCs.