Terms Of Use

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. You must not:

   1. register multiple times; or
   2. impersonate or create an account for any person other than yourself except where you have been authorised to create a non-individual account.

9. Subject to clause 17(b), you may cancel your registration by notifying us at 

10. We may suspend or cancel your registration, either temporarily or permanently, if you breach, or we reasonably believe:

    1. your account is at risk, been compromised or for other general security reasons, in which case you will be unable to access your account until it is reactivated; or
    2. you have breached or fail to comply with any of these Terms or any other agreement in place relevant to the Block Earner Platform and Services.

1. To create an account and use the Services you must:

   1. if a natural person, be at least 18 years of age or the age of majority in the jurisdiction where you reside;
   2. be legally capable of entering into binding contracts;
   3. not have been previously suspended or removed from the Block Earner Platform or using the Services; and
   4. not currently already be registered on the Block Earner Platform except where you are acting as an Authorised Representative (defined at section 1.3(e)).

2. 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.

3. By creating an account and using the Services, you acknowledge and confirm that you meet the criteria contained in paragraph (a).

1. 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.

2. 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.

3. 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.

4. SMSF accounts are owned by the individual or Entity that is the trustee of the SMSF.

5. 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:

   1. is fully authorised to bind the Entity and execute all documents or do all things necessary to otherwise complete our requirements in the Authorised Representative’s stated capacity;
   2. has provided us all documents or other information necessary to demonstrate and verify that authority; and
   3. will provide other documents and complete other requirements as we may request from time to time.

6. 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.

7. 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. 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).

2. 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).

3. 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.

4. 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.

5. Our processes for collecting, storing and using your personal information are set out in our privacy policy. See section 13 for more information.

1. 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:

   1. Aave USDC (aUSDC) or Compound USDC (cUSDC) to participate in the access services, known as ‘Aave USD Coin Variable Yield (DeFi-based)’ and ‘Compound USD Coin Variable Yield (DeFi-based)’ (see section 4.2); or
   2. certain cryptocurrency as stated on the Block Earner Platform (Eligible Cryptocurrency) to participate in the loan service under which users can lend their Eligible Cryptocurrency to Block Earner in exchange for interest payments, known as ‘Block Earner USD Coin Fixed Yield (Lending-based)’ (Lend) (see section 4.3).

2. 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.

3. 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.

4. There are limits on how much users can exchange under the exchange service:

   1. Users can only exchange up to A$20,000 in Australian dollars for aUSDC, cUSDC or Eligible Cryptocurrency per 1calendar day. ; and
   2. there is an exchange limit of up to A$25,000 per 1 calendar day with respect to exchanging aUSDC, cUSDC or Eligible Cryptocurrency to Australian dollars. Where a user nominates to cease using the access service or Lend and wishes to exchange more than A$25,000 of aUSDC, cUSDC or Eligible Cryptocurrency to Australian dollars, Block Earner will split the transaction into parcels of A$25,000 per 1 calendar day until the nominated amount has been exchanged

5. You acknowledge and agree that:

   1. Block Earner will facilitate the exchange process by exchanging your Australian dollars in the Account.
   2. for the access service, Block Earner facilitates the exchange by exchanging the user’s Australian dollars for USDC and then exchanging that USDC for the corresponding amount of cUSDC or aUSDC;
   3. for Lend, Block Earner facilitates the exchange by exchanging the user’s Australian dollars for the Eligible Cryptocurrency nominated by the user;
   4. each transaction constitutes a transaction between you and Block Earner as principal. Block Earner facilitates transactions with you through back to back transactions with third parties that may correlate to transactions entered into with you, however Block Earner is not acting on your behalf in relation to a transaction with such third parties. All monies owed by you under a transaction are owed to us as a principal counterparty and not to any other person. You do not have any relationship or engage in any transaction directly with any third parties through the exchange service; and
   5. once you have nominated to proceed with exchanging your Australian dollars for aUSDC, cUSDC or Eligible Cryptocurrency, this nomination is irrevocable. We may (in our absolute discretion) but are not required or obliged to, stop, refund, suspend or reverse any change of Australian dollars into aUSDC, cUSDC or Eligible Cryptocurrency (or vice versa).

6. 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.

7. Users can withdraw from the Account at any time. There is up to two business days processing time for withdrawals.

1. Under the access service, Block Earner:

   1. streamlines user access to certain yield generating platforms, currently being Aave and Compound;
   2. aggregates the cUSDC and aUSDC exchanged under the exchange service from all users who have nominated Compound or Aave and holds such cUSDC and aUSDC in its Block Earner omnibus account on each platform (ie Compound or Aave). Access to Aave or Compound commences at the time the user’s cUSDC and aUSDC is received by Block Earner and moved to Block Earner’s omnibus account on each platform (as at the date and time stamped on the blockchain confirmation). Each user’s cUSDC and/or aUSDC holding is reflected in the user’s Block Earner Platform account. By using the access service, you acknowledge and agree that Block Earner will use an omnibus account on Compound and Aave; and
   3. is responsible for tracking and calculating returns on cUSDC and aUSDC for each user on its ledger. Block Earner will perform daily reconciliation procedures and update the displayed user holdings on Block Earner Platform accounts for any yield earned the previous day.

2. 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.

3. 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)).

4. 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).

1. 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

2. 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.

3. 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.

4. To activate Lend, you must log into your account on the Block Earner Platform and follow the prompts to:

   1. select Lend from the available services;
   2. nominate the Eligible Cryptocurrency which you wish to lend to Block Earner and consequently receive interest payments in that Eligible Cryptocurrency; and
   3. reconfirm your acceptance of these Terms including the Loan Terms.

5. 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.

6. 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.

7. 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.

8. The term of the loan of your Eligible Cryptocurrency will end:

   1. at the expiry of the fixed term selected by you when you elected to use Lend, if we provide this option;
   2. upon termination of your account, subject to clause 17(b); or
   3. when you elect to terminate your use of Lend. You may terminate your loan at any time.

9. 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)).

10. 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).

11. You acknowledge and agree that:

    1. all Eligible Cryptocurrency that is loaned to Block Earner by you under Lend is Block Earner’s to use, without limitation and at Block Earner’s sole absolute discretion;
    2. any interest paid to you under Lend is not referable to the activities Block Earner undertakes with respect to the loaned Eligible Cryptocurrency and the only amounts to which you have a right to are the amount of Eligible Cryptocurrency initially loaned to Block Earner and any interest earned on that amount as determined under these Loan Terms;
    3. by participating in Lend, you do not intend for Block Earner to use the loaned Eligible Cryptocurrency to generate a financial benefit or act as an investment for you; and
    4. any benefit gained or loss incurred by Block Earner’s use of the loaned Eligible Cryptocurrency will not be passed onto you. The loan arrangement under Lend, interest payments and the rate at which interest is calculated are subject to all applicable laws and regulation, and to the extent we are limited or restricted from providing Lend or paying interest for any reason by applicable law or regulation, we will do so and will notify you as soon as practicable.

1. Block Earner reserves the right to cease offering the access service or Lend, in its discretion (Discontinued Service).

2. Where Block Earner does cease offering the Discontinued Service, Block Earner:

   1. will provide you with at least 7 calendar days’ notice of any such cessation (Notice Period); and
   2. may, at its discretion, offer a new Service to which your aUSDC, cUSDC or Eligible Cryptocurrency under the Discontinued Service may be migrated (New Service). Block Earner will communicate the terms of this migration to you (including notice of any additional fees).

3. 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.

4. 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)).

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.

1. The legal status of cryptocurrency (including cryptographic coins, tokens and digital assets) remains uncertain in many countries and jurisdictions around the world. Such cryptocurrency may be legally prohibited in certain countries or jurisdictions or be subject to specific restrictions and limitations with which you are solely responsible for complying at your own risk and expense. We take no position on the legal status of any cryptocurrency.
2. It is your responsibility to undertake your own investigations and enquiries and satisfy yourself of the legal status of the cryptocurrency (particularly in Australia). You acknowledge and agree that you use cryptocurrency through the Services at your own risk.
3. The Services will only support the cryptocurrency we determine from time to time (in our absolute discretion). However, it is your responsibility to ensure that you do not use any cryptocurrency through the Services that are financial products within the meaning of the Corporations Act. It is also your responsibility to ensure that you do not deal in any financial product cryptocurrency through the Services. We will not support financial products in any form.

1. Historically, the value of cryptocurrency has been highly volatile and there is a risk that they could have little to no value in the future. The trading or holding of cryptocurrency involves significant risks and the losses can be substantial. It may be difficult to value cryptocurrency accurately and reliably given the nature of their trading and difficulty in identifying fundamentals. You should carefully consider and assess whether trading or holding cryptocurrency or using cryptocurrency-adjacent services is suitable for you depending upon your financial circumstances and tolerance to risk.
2. Due to the significant risks of trading cryptocurrency as well as the impact of technology and the international market, Block Earner cannot warrant or guarantee that particular cryptocurrency will be available as part of the Services. Block Earner reserves the right to stop offering trades in relation to particular cryptocurrency as part of the Services. We will use our reasonable endeavours to notify you if we cease to support trading a particular cryptocurrency.

1. Block Earner is not responsible or liable for any fiat currency sent to an incorrect bank account that is not the Account or an Australian bank account in the name of the user. It is important for you to take precautions when transferring and storing your funds or providing us with bank details. You should familiarise yourself with the security measures available when using a wallet service or other device for storage. Always take a greater degree of care and precaution to secure your passwords when operating in a digital environment. You are strongly advised to double check that you have inserted the correct wallet address or Australian bank account details where required.
2. If we determine (in our sole reasonable discretion) that transferring cryptocurrency or fiat currency to you would be unlawful, or in any way contrary to our AML/CTF obligations, we may suspend such a transfer for as long as we reasonably determine is required. You agree that when this occurs, you have no claims regarding the delayed transfer and agree to assist us with every request for information in this regard.
3. market conditions, or other operational or technical difficulties which could result in the immediate halt of transactions either temporarily or permanently. Provided that Block Earner has taken reasonable commercial and operational measures to prevent such events in technical systems controlled by Block Earner, Block Earner is not and will not be responsible or liable for any loss or damage of any kind incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transactions.

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.

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.

1. All express or implied guarantees, warranties, representations, statements, terms and conditions relating to these Terms and the Block Earner Platform and Services that are not contained in these Terms, are excluded to the maximum extent permitted by law.

2. 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):

   1. while we endeavour to provide convenient and functional Block Earner Platform and Services, we do not guarantee that your requirements will be met or that your use of the Block Earner Platform or Services will be uninterrupted error free or that the Block Earner Platform and Services are free of viruses or other harmful components; and
   2. we cannot be responsible for any loss, corruption or interception of data sent to or from the Block Earner Platform which occurs outside of our computer system (such as those which occur while being sent over the internet).
3. Nothing in these terms of use excludes, restricts or modifies any guarantee, term, condition, warranty, or any right or remedy, implied or imposed by any legislation which cannot lawfully be excluded or limited.
4. If any guarantee, term, condition or warranty is implied into these terms of use under the Australian Consumer Law or any other applicable legislation (a Non-Excludable Provision) and we are able to limit your remedy for a breach of the Non-Excludable Provision, then our liability for a breach of the Non-Excludable Provision is limited to supplying of the Services again, or the payment of the cost of having the Services supplied again.
5. Subject to paragraphs (f) and (g) and our obligations under the Non-Excludable Provisions, and to the maximum extent permitted by law, our maximum aggregate liability for all claims under or relating to these Terms, the Services or the Block Earner Platform whether in contract, tort (including without limitation negligence), in equity, under statute, under an indemnity, or otherwise, based on fundamental breach or breach of a fundamental term or on any other basis, is limited to any fees paid by you to use the Block Earner Platform or use the Services. This limitation does not apply to any cryptocurrency or funds deposited with us that you are rightfully entitled to in accordance with these Terms.

6. 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:

   1. special, indirect, consequential, incidental or punitive damages; or
   2. damages for loss of profits, revenue, goodwill, anticipated savings or loss or corruption of data, whether in contract, tort (including negligence), in equity, under statute or on any other basis, whether or not such loss or damage was foreseeable and even if advised of the possibility of the loss or damage.
7. Our liability to you is diminished to the extent that your acts or omissions (or those of a third party) contribute to or cause the loss or liability. Our liability is subject to your duty to mitigate your loss.

1. You represent and warrant that:

   1. you will only use the Block Earner Platform and Services in accordance with these Terms;
   2. you are duly authorised and have the capacity to provide each instruction and enter into each transaction using the Services;
   3. you will comply with all applicable laws of Australia and any other jurisdiction in which or from which you give instructions or enter transactions using the Services;
   4. all fiat currency amounts are sourced from legal origins that you own or otherwise have full legal authority to deal with such fiat currency;
   5. your use of the Services and entering into transactions does not infringe the rights of any third party or any applicable law; and
   6. you understand that your use of the Services may be suspended at any time at our discretion for breach of these Terms or at the request of any government authority investigating a fraud or other suspicious activity.
2. To the full extent permitted by applicable law, you agree to indemnify Block Earner against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred arising directly or indirectly from your use of the Block Earner Platform, Service or from your breach of these Terms.

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.

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.

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: