Key terms
You should read these terms of use in full but note the following clauses in particular contain information significant to your rights and obligations:
Terms of use
WEB3 Ventures Pty Ltd (ACN 655 090 869) operates certain websites including this website (Website), mobile applications and other applications (Block Earner Platform). The Block Earner Platform provides access to the services offered by WEB3 Ventures Pty Ltd and/or its subsidiaries and affiliates (referred to as "Block Earner", "we", "our" or "us").
These terms of use (Terms) govern your use of the Block Earner Platform and the Block Earner exchange, access and loan services provided to you through the Block Earner Platform (Services) in relation to coins, tokens, crypto, digital currency, or digital assets of the like (collectively, cryptocurrency). Please read these Terms carefully.
By accessing or using the Block Earner Platform you agree to be bound by these Terms. You should immediately cease using the Platform if you do not agree to these Terms.
By clicking "I Agree", registering and creating an account or accessing or using any part of the Services, you agree to be bound by these Terms. You must not use the Services if you do not agree to these Terms.
The Block Earner Platform and Services are intended for users within Australia only.
1 Registration
1.1 Registration
You are not required to register to use the Block Earner Platform. However, certain features on the Block Earner Platform (including the Services) may only be available if you do register.
When you register, you must provide a valid email address, a valid Australian mobile number and a password. You must keep your email address and password private, and not disclose them to any other person. If you have lost or forgotten your password, you can request that we send an email containing a password reset link to your registered email address.
By registering for an account, you agree to always take all reasonable steps to protect your username and password and not disclose it to anyone for any reason. Other than to log into the Block Earner Platform to access the Services, we will never ask you to disclose your password to us or to any third party via email or otherwise. We may ask you to change your password but, in any case, recommend you do so regularly.
You agree to familiarise yourself with good practice concerning the selection and management of passwords. In particular, consider using a password management service and do not choose a password that you use for another service or is readily guessed from information that can be obtained about you.
If you have any suspicion that your username or password or other confidential information regarding your registration has been lost, stolen, accessed inappropriately or otherwise compromised, you should change your password and contact us at as soon as possible. You also agree to contact us as soon as possible if you actually become aware of the theft or misappropriation of your username or password, or of any unauthorised access in relation to your registration.
You must take your own precautions to ensure your access to the Block Earner Platform and Services does not expose you to the risk of viruses, malicious computer code or other forms of interference which may damage your own computer system or other personal devices. We recommend that you install and use up to date anti-virus, anti-spyware and firewall software on your computer.
We may use your email address registered with us from time to time to send you confidential communications, including password resets. You agree to take reasonable steps to protect your registered email and keep it secure and only accessible by you.
You must not:
Subject to clause 17(b), you may cancel your registration by notifying us at
We may suspend or cancel your registration, either temporarily or permanently, if you breach, or we reasonably believe:
1.2 Eligibility
To create an account and use the Services you must:
Block Earner is not obliged to accept all account applications and has sole and absolute discretion to accept or reject applications to open accounts. Block Earner has no responsibility or liability towards any applicant unless and until Block Earner provides written confirmation that an account has been successfully opened for such an applicant.
By creating an account and using the Services, you acknowledge and confirm that you meet the criteria contained in paragraph (a).
1.3 Account types
There are three types of account that can be registered on the Block Earner Platform, being personal, business and self managed superannuation fund (SMSF) accounts.
Individual accounts are registered in the name of one natural person who is, and will continue to be, the only person authorised to take any action in the account. By opening an individual account, you represent and warrant that you are and will at all times continue to be the sole beneficial owner of the account and user of all Services.
Business accounts are owned by a company, association, partnership, government body or other legally recognised and/or incorporated group (interchangeably defined as an "Entity") holding an account on the Block Earner Platform in any capacity other than an individual capacity.
SMSF accounts are owned by the individual or Entity that is the trustee of the SMSF.
An Entity can apply to open an account through any natural person(s) who is duly authorised by the Entity to do so (Authorised Representative). Authorised Representatives represent, warrant and agree, on behalf of the relevant Entity, as well as on their own behalf, that the Authorised Representative:
We may refuse to recognise any such authorisation in relation to a business or SMSF account if, in our sole and absolute discretion, it appears to be incomplete or improperly executed.
By opening a business or SMSF account, the Authorised Representative represents and warrants on behalf of the Entity that the Entity is, and shall at all times continue to be, the sole beneficial owner of the account and user of all Services provided by Block Earner and that the ultimate beneficial owners of all assets belonging to the Entity are as represented during the establishment of the account.
1.4 Anti-money laundering and counter-terrorism financing
WEB3 Ventures Pty Ltd (ACN 655 090 869) is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange service provider (DCE100784590) and independent remittance provider (IND100784590).
We are required to comply with anti-money laundering and counter-terrorism financing (AML/CTF) laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (AML/CTF Laws).
Prior to providing the Services to you, we will collect and verify your personal information as required under the AML/CTF Laws. We may also report your transaction activity to AUSTRAC.
You acknowledge and agree to provide all reasonable assistance to us in complying with our obligations under the AML/CTF Laws and warrant that all information provided to us is accurate and up to date. We may refuse to provide the Services to you and cancel your registration if you do not assist us in complying with the AML/CTF Laws.
Our processes for collecting, storing and using your personal information are set out in our privacy policy. See section 13 for more information.
2 Use of content on the Block Earner Platform
The Block Earner Platform is subject to copyright and other intellectual property rights.
We grant you a limited, non-transferable licence to access and use the Block Earner Platform or Services solely for your personal, non-commercial purposes.
We (or our licensors) retain all rights, title, and interest in and to the Block Earner Platform, and nothing you do on or in relation to the Block Earner Platform or in connection with the Services will transfer any intellectual property rights to you or, except for the licence referred to in paragraph (b), licence you to exercise any intellectual property rights unless this is expressly stated.
Except as provided in these Terms, any use or copying of the Block Earner Platform for any other purpose is expressly prohibited, unless prior written consent is obtained from us. You may contact us if you wish to seek such consent (see section 19 for contact details).
Subject to applicable law, we may revoke the permission referred to in paragraphs (b) and (d) at any time and may suspend or deny your access to or use of the Block Earner Platform without notice if you breach, or we reasonably believe you have breached, any of these Terms.
3 Linking to this Block Earner Platform
We encourage you to provide links to the Block Earner Platform. While you may use the name "Block Earner" in the text of any such link, you may not use the Block Earner logo or any of our other trademarks without our prior written consent.
You must not frame the Block Earner Platform or represent or imply that any part of the Block Earner Platform belongs to anyone other than us.
If we notify you that we object to the manner in which you provide links to this Block Earner Platform, you must immediately cease providing such links.
4 Service terms
4.1 Exchange service
Under the exchange service, users transfer Australian dollars to a fiat account with an Australian authorised deposit taking institution in Block Earner’s name (Account) for the purpose of exchanging such dollars for:
There are no restrictions on the amount of Australian dollars that users can transfer to the Account. Users do not earn any interest on their Australian dollars held in the Account and are not permitted to make payments or instruct Block Earner to make payments from the Account. Users can only exchange their Australian dollars for aUSDC, cUSDC or Eligible Cryptocurrency to access the Services or withdraw their Australian dollars to an Australian bank account in the name of the user.
Once Block Earner receives a user’s fiat deposit in the Account, the user is permitted to nominate whether the user wishes to participate in the access service or Lend. Participating in the access service requires the user to have certain cryptocurrency, being cUSDC for Compound and aUSDC for Aave. Participating in the loan service requires the user to have Eligible Cryptocurrency.
There are limits on how much users can exchange under the exchange service:
You acknowledge and agree that:
Block Earner charges the user a conversion fee to exchange Australian dollars to aUSDC, cUSDC and Eligible Cryptocurrency and vice versa. The conversion fee will be included in the exchange rate at the time of the transaction.
Users can withdraw from the Account at any time. There is up to two business days processing time for withdrawals.
4.2 Access service
Under the access service, Block Earner:
Block Earner displays performance data for Compound and Aave. Such data is updated daily and displays data for each platform for the last business day. You agree and acknowledge Block Earner produces such data as communicated to it by Compound and Aave and Block Earner is not responsible for any loss, damage or expense suffered or incurred arising from incorrect or erroneous data, excluding any mistake, fraud, negligence or wilful misconduct on the part of Block Earner.
Users can nominate to cease using the access service at any stage. Upon notifying Block Earner that a user wishes to cease using the access service, Block Earner will convert the nominated value of cUSDC or aUSDC to Australian dollars under the exchange service and transfer this to the Account. For cUSDC and aUSDC, Block Earner redeems the cryptocurrency with Compound and Aave respectively and receives USDC (including any yield earned), which Block Earner then exchanges to Australian dollars and transfers to the Account for the relevant user. The user (ie, you) may elect to use these funds to participate in Lend or the access services again or can request a withdrawal from the Account (see section 4.1(g)).
All yield earned from cUSDC or aUSDC is passed through to the user. Block Earner does not pass along additional incentives or promotions offered by the underlying yield platforms (eg, deposit incentives on Aave where tokens are locked up for one year).
4.3 Lend
Under Lend, in accordance with these Terms including the terms contained at this section 4.3 (Loan Terms), users can lend Eligible Cryptocurrency to Block Earner in return for daily interest payments paid in the same Eligible Cryptocurrency loaned to Block Earner
The rate of interest paid to users under the loan arrangement in return for such users lending Eligible Cryptocurrency to Block Earner will be calculated by Block Earner and published on the Block Earner Platform. Block Earner reserves the right to change the rate of interest paid on a monthly basis, with the new interest rate effective on the first [calendar day] of each month. Block Earner will provide seven (7) calendar days’ written notice of any such change, to be published on the Block Earner Platform and sent to the email address you used to sign up for your Block Earner account. By continuing to participate in Lend on the first calendar day of each month, you agree to the new rate of interest as published by Block Earner.
There are no minimum or maximum amounts that can be loaned however Block Earner may put limits on amounts to be loaned from time to time at its own discretion in line with our risk management processes. Such limits will be notified to the user (i.e., you) as needed.
To activate Lend, you must log into your account on the Block Earner Platform and follow the prompts to:
Once you have completed the actions at paragraph (d), your Australian dollars in the Account will be exchanged for the nominated Eligible Cryptocurrency under the exchange service. The Eligible Cryptocurrency will then be transferred to Block Earner under Lend. By lending Eligible Cryptocurrency to Block Earner, you agree to grant Block Earner all rights and title to such Eligible Cryptocurrency for Block Earner to use in its sole discretion during the term of the loan under Lend.
The loan commences at the time the Eligible Cryptocurrency is received by Block Earner. Any Eligible Cryptocurrency received under Lend will be treated by us as being received at the date and time stamped on the blockchain confirmation.
The balance of Eligible Cryptocurrency loaned by you to Block Earner, and any interest earned (as denominated in the Eligible Cryptocurrency) will be visible in your Block Earner account.
The term of the loan of your Eligible Cryptocurrency will end:
Upon the term of the loan of your Eligible Cryptocurrency ending Block Earner will return the borrowed Eligible Cryptocurrency and deliver any interest accrued under the Loan Terms (Final Amount), in each case by Block Earner converting the Final Amount to an equivalent value of Australian dollars under the exchange service and this value will be held in the Account. The user (i.e., you) may elect to use these funds to participate in the access services or Lend again or can request a withdrawal from the Account (see section 4.1(g)).
By agreeing to these Terms (including the Loan Terms) and transferring Australian dollars to the Account for the purposes of conversion to Eligible Cryptocurrency that is then loaned to Block Earner (which, for the avoidance of doubt, shall be deemed as completed only upon the receipt of such Eligible Cryptocurrency by Block Earner), you agree to lend such Eligible Cryptocurrency to Block Earner in accordance with these Terms (including the Loan Terms).
You acknowledge and agree that:
4.4 Service discontinuation
Block Earner reserves the right to cease offering the access service or Lend, in its discretion (Discontinued Service).
Where Block Earner does cease offering the Discontinued Service, Block Earner:
Upon receiving notice of the Discontinued Service, you may end your use of the Discontinued Service in accordance this section 4 or, where a new Service is available, elect to migrate to the New Service in accordance with the terms communicated to you by Block Earner.
At the end of the Notice Period, if you have not taken any action under paragraph (c), you acknowledge and agree that Block Earner will exchange your cryptocurrency under the Discontinued Service and credit the Account with the corresponding Australian dollar value (using the exchange service), the balance of which will be displayed on your Block Earner Platform account. You may elect to use these funds to participate in the available Services or can request a withdrawal from the Account (see section 4.1(g)).
5 Fees
6 No AFSL or Australian market licence
You acknowledge and agree that we do not hold, or operate under:
All text, images, audio recordings, video recordings, and other information and content, including but not limited to, market, exchange or trading information, tools, indicators, and materials (Materials) hosted or made available on or through the Block Earner Platform or Services is provided:
Before acting on, or relying upon, any Materials hosted or made available on or through the Block Earner Platform or Services, we strongly recommend that you:
7 Risks associated with cryptocurrencies
7.1 General
This section sets out some of the risks involved in connection with cryptocurrency and using the Services. However, this section does not constitute an exhaustive list of such risks and as such, you should carefully consider whether using our Services is suitable for you in light of your circumstances.
7.2 Legal status
7.3 Risks of trading and holding cryptocurrency
7.4 Cyber risks, delivery and custody
7.5 Ownership of cryptocurrency
By using the Services, you represent and warrant to us at all times you use the Services that any fiat currency or cryptocurrency used by you in connection with the Services is owned by you or that you are validly authorised to carry out transactions using such fiat currency or cryptocurrency.
8 User Content
You must not provide any material through the Block Earner Platform (Your Content) that:
By providing us with any of Your Content, you:
9 General restrictions
In using the Block Earner Platform and Services, you must not:
10 Insurance
Block Earner’s third party cryptocurrency custody solution has its own insurance arrangements in place to cover any loss of crypto from hacks, third party risks and smart contract failures. Block Earner and Block Earner users are not party to this insurance arrangement.
11 Warranties and liability
11.1 General
We are not responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond our reasonable control. In particular, and without limiting paragraph (a):
Subject to our obligations under the Non-Excludable Provisions, and to the maximum extent permitted by law, we are not liable for, and no measure of damages will, under any circumstances, include:
11.2 Your warranties
You represent and warrant that:
12 Links and advertisements
The Block Earner Platform and Services may contain links to other third party websites and advertisements which include embedded links, which are provided for your information only. We have not reviewed any of the sited linked to the Block Earner Platform or Services and are not responsible for the content or accuracy of any offsite pages or any other sites linked to the Block Earner Platform or Services. The inclusion of any link or advertisement does not imply that we endorse or approve the linked site or the subject matter of the advertisement. You access third party websites entirely at your own risk and subject to the terms and conditions of use for those websites.
13 Privacy
Our privacy policy explains:
14 Infringing or objectionable content
If you believe the Block Earner Platform or Services contain elements that are objectionable, or infringe copyright or any other rights please contact us at and provide particulars of such content and a detailed description of why it is objectionable or infringing.
15 Dispute resolution
16 Variation
17 Suspension, termination and cancelation
We may at any time refuse to complete, block, or reverse a transaction you have authorised (or part thereof) or limit, suspend, restrict, or terminate your access to any or all of the Services or the Block Earner Platform (including your account) if:
18 General
19 Contact us
For further information about the Block Earner Platform, the Services, these terms of use, or to make a complaint, please contact us the details set out below.
Attention: Head of Customer Service
Email: