ReMine Transaction Rules

Last Updated: 16th January 2025

1. Platform Overview

• ReMine employs a peer-to-peer transfer model to provide a transparent marketplace for SEALMINER buyers and sellers. 
• ReMine adheres to the principles of fairness, justice, and transparency, maintaining market integrity and prohibiting malicious speculation and price manipulation.

2. Transaction Process

1. Seller Initiates Transfer

• The seller posts transfer information for mining machine reservations, capacity lock-ins, mining machine orders, and other miner-related rights (collectively referred to as “transfer products”).

2. Buyer Places an Order

• After placing an order, the buyer can communicate with the seller regarding the transfer details. The platform will lock the seller's product assets once the buyer places the order.

3. Buyer Makes Payment

• The buyer must complete the payment within 1 hour of placing the order and upload the transaction hash as proof of payment.

4. Seller Releases Order to Complete Transfer

• Once the seller confirms receipt of the payment, they must release the order within 24 hours to finalize the transfer.

Tips:

a.On the ReMine platform, a buyer can place a maximum of 5 unpaid orders per day, and a seller can list up to 10 products per day；
b.Once the buyer clicks "I have paid," the seller's asset will remain locked until the transaction is completed or the platform intervenes after an appeal, where the order will be manually unlocked；
c.Transaction Fees: The buyer is responsible for the transaction fee when making a purchase. The refund transaction fee will be borne by the party at fault.

If a product remains listed for more than 7 days without any orders, it will be automatically delisted by the system.

3. Prohibited Actions

1. Malicious Speculation: 

• Fraudulent Orders: Intentionally posting inflated pricing on orders to deceive and encourage other users to follow. 
• Self-Transactions: Using multiple accounts to create fake trading volume and inflate/decrease prices.
• Price Manipulation: Colluding with other users to manipulate market prices.

2. Malicious Price Dumping：

• False Information: Posting false or misleading information to manipulate market prices.

3. The platform reserves the independent discretion to determine whether the user has engaged in the aforementioned prohibited behaviors and to take appropriate actions accordingly.

4. Penalties for Violations 

1. First Violation:

• Warning and delisting of the violating order.
• Freezing the user's purchased orders.
• Temporarily freezing the account functionality for 7 days.

2. Repeated Violations or Serious Offenses: 

• Permanent account suspension.
• Recording the user's information on the platform's blacklist.  

3. Fines: 

• For egregious behavior, the platform reserves the right to deduct funds from the account as compensation or fines.

4. Reporting to Relevant Authorities: 

• If fraudulent or malicious activities, such as fraud, occur, the platform will, in accordance with applicable laws and regulations, report it to the appropriate administrative or judicial authorities.

5. User Credit System

1. Credit Rating:

• The platform will establish a credit profile for each user, with scores based on factors such as transaction completion rate, feedback score, and violation records.

2. Low Credit User Restrictions: 

• Users with a credit score below a certain threshold will be restricted from posting transfer information or placing orders and must undergo a review to regain access.

6. Risk Disclaimer

1. The platform serves only as an information intermediary and does not participate in actual transactions.
2. Users are responsible for assessing transaction risks and bearing the associated liabilities.
3. Users are advised to carefully review the “ReMine User Service Agreement”. 

Buyer Abnormality	ReMine Rules
1. The buyer cancels the order after it is created.	If the buyer reaches 3 incidents on the same day, the system will restrict the buyer's purchasing function. If the trigger occurs for 2 consecutive days, additional restrictions will be placed on the buyer's account.
2. The order is automatically cancelled by the system due to payment timeout after it is created.	If the buyer reaches 3 incidents on the same day, the system will restrict the buyer's purchasing function. If this occurs for 2 consecutive days, further restrictions will be imposed on the buyer's account.
3. Clicking "I have paid" without making the payment.	The seller has the right to choose either to proceed with the transaction or to cancel the order. 1) If the seller chooses to proceed, the seller must release the order within 24 hours of receiving the full payment; 2) For the buyer: First violation, the account will be frozen for 7 days as a warning; Second violation, the account will be frozen for 3 months; Third or more violations, the account will be frozen for 12 months.
4. Clicking "I have paid" before making the payment, followed by either partial or full payment.	The seller has the right to choose either to proceed with the transaction or to cancel the order. 1) If the seller chooses to proceed, the buyer must complete the full payment within 1 hour, and the seller must release the order within 24 hours after receiving the full payment; 2) If the seller chooses to cancel the order, the seller must refund the full amount paid by the buyer within 24 hours after the order appeal, and the locked assets will be returned to the seller’s account after the refund is completed. 3) For the buyer: First violation, the account will be frozen for 7 days as a warning; Second violation, the account will be frozen for 3 months; Third or more violations, the account will be frozen for 12 months.
5. Clicking "I have paid" before completing the payment, and then proceeding with the remaining payment.	The seller has the right to choose either to proceed with the transaction or to cancel the order. 1) If the seller chooses to proceed, the buyer must complete the full payment within 1 hour, and the seller must release the order within 24 hours after receiving the full payment; 2) If the seller chooses to cancel the order, the seller must refund the full amount paid by the buyer within 24 hours after the order appeal, and the locked assets will be returned to the seller’s account after the refund is completed. 3) For the buyer: First violation, the account will be frozen for 7 days as a warning; Second violation, the account will be frozen for 3 months; Third or more violations, the account will be frozen for 12 months.
6. The buyer did not make the payment according to the payment address and currency specified on the seller's order details page.	1) The seller has the right to initiate an appeal to cancel the order. 2) The buyer shall bear all losses and responsibilities arising from this, and ReMine is not responsible for recovering such erroneous payments.
7. The buyer has made full or partial payment but voluntarily cancelled the order.	Seller's Rights and Obligations in Continuing or Cancelling an Order. 1) If the seller chooses to proceed with the transaction: -If the product the buyer intended to purchase is still available, the buyer should upload the transaction hash to the new order. Once the buyer clicks "Payment Made," the seller should release the product within the specified time frame (if the buyer had only partially paid before, they must make up the difference within the time frame of the new order.); -If the original product is sold out, the buyer and seller may negotiate to purchase another available product from the seller and adjust the order amount accordingly for any balance/refund. 2) If the seller chooses to cancel the order, he seller must complete the refund and return the digital assets to the buyer within 24 hours of receiving feedback from the platform or the buyer. If the seller fails to complete the refund within the stipulated time after choosing to cancel: First violation, the account will be frozen for 15 days as a warning; Second violation, the account will be frozen for 3 months; Third or more violations, the account will be frozen for 6 months. Note: Buyers are responsible for contacting sellers directly to arrange refunds under the above rules. ReMine will only penalize sellers for delays in refunds but will not engage in the process of refunding overpayments or bear any liability for such refunds.
8. The buyer made a full or partial payment within the order's validity period but failed to click "I have paid," resulting in the order being canceled.	Seller's Rights and Obligations in Continuing or Cancelling an Order. 1) If the seller chooses to proceed with the transaction: -If the product the buyer intended to purchase is still available, the buyer should upload the transaction hash to the new order. Once the buyer clicks "Payment Made," the seller should release the product within the specified time frame (if the buyer had only partially paid before, they must make up the difference within the time frame of the new order.); -If the original product is sold out, the buyer and seller may negotiate to purchase another available product from the seller and adjust the order amount accordingly for any balance/refund. 2) If the seller chooses to cancel the order, he seller must complete the refund and return the digital assets to the buyer within 24 hours of receiving feedback from the platform or the buyer. If the seller fails to complete the refund within the stipulated time after choosing to cancel: First violation, the account will be frozen for 15 days as a warning; Second violation, the account will be frozen for 3 months; Third or more violations, the account will be frozen for 6 months. Note: Buyers are responsible for contacting sellers directly to arrange refunds under the above rules. ReMine will only penalize sellers for delays in refunds but will not engage in the process of refunding overpayments or bear any liability for such refunds.
9. The payment amount does not match the order amount.	1) If the payment amount exceeds the order amount, the order will proceed, and the seller must refund the excess amount within 24 hours of receiving the payment. If the seller does not cooperate with the refund, ReMine will assist in contacting the seller, but ReMine is not responsible for any losses incurred by the buyer due to overpayment. 2) If the payment amount is less than the order amount, the seller has the right to either proceed with the transaction or request a cancellation after refunding the payment. -If the seller chooses to proceed, the buyer must pay the remaining amount, and the seller must release the order within 24 hours of receiving the full payment. -If the seller chooses to cancel the order, they must complete the refund to the buyer within 24 hours of receiving the payment. Note: Unless explicitly agreed otherwise in writing by both parties, it is assumed that any transfer fees (such as digital asset network fees) incurred during the payment process are the responsibility of the buyer.
10. The buyer's payment caused an issue with the seller's receiving account.	1）The buyer must actively cooperate in providing proof of the legitimacy of the transaction funds. Once such proof is provided, the order should proceed as normal. 2) If the buyer does not actively cooperate or fails to provide proof of the legitimacy of the transaction funds, the seller must complete the refund to the buyer within 24 hours after their receiving account returns to a normal state and contact ReMine to cancel the order. (We recommend that sellers use wallets with fund verification features.)
11. The buyer could not be contacted within 24 hours of customer support intervention in the appeal.	1) For the first two violations, the buyer’s ordering privileges will be frozen, an online warning will be issued, and the privileges will be reinstated once the issue is resolved. 2) For three or more violations, the ordering privileges will be frozen for one month. Depending on the severity of the situation, penalties may be increased, up to and including the permanent revocation of ordering privileges.
12. The user has been preliminarily flagged by the risk control system.	If ReMine reasonably suspects a violation, it will freeze the mining-related functions of the relevant accounts until the internal investigation is completed. After the investigation, if a violation is confirmed, ReMine will impose penalties based on the severity of the violation, with serious offences leading to the permanent freezing of mining-related functions.
13. The user has been reported for attempting to lure trading parties away from the platform.
14. The user has provided forged transfer records, release records, chat logs, or other false information.	-First-time violation: Account functionalities frozen for 6 months. -In multiple violations or in serious cases, accounts may be frozen permanently and the user's information may be included in the platform’s blacklist. -Compensation for Damages and Penalties: In cases of significant losses, ReMine reserves the right to deduct funds from the user's account to compensate for the losses incurred by the directly or by other users. Additionally, ReMine may impose fines on the violating user according to the penalty terms stated in this transaction rules. -Report to relevant administrative or judicial authorities.
Note: This rule pertains to seller refunds or release actions. If the seller fails to complete the action on time, the system will restrict certain functions of the seller's account.

Seller Abnormality	ReMine Rules
1. After the order is generated, if the seller believes there is a significant pricing error and requests cancellation, a "significant pricing error" is defined as the unit price of the order being lower than 50% of the average unit price for the same machine model listed on the platform.	The seller and buyer may negotiate a revised order price. If both parties are unable to reach an agreement on the order price, and the seller requests to cancel the order due to a significant pricing error, the seller must compensate the buyer with a penalty fee. The penalty fee will be the higher of the following two amounts: 1. 10% of the order price, or; 2. 10,000USDT. The seller must complete the penalty payment within 48 hours after the order is created and refund any amount the buyer has already paid for the erroneous order (if applicable). Once these steps are completed, the platform will cancel the order identified as having a "significant pricing error." -For the first violation, the seller will receive a warning. For the second violation or more, account functions will be temporarily suspended for 15 days. For the third violation or more, account functions will be suspended for 6 months. If the seller’s order does not meet the platform's definition of a "significant pricing error," the seller has no right to cancel the order. Additionally, if the seller fails to release the order within 24 hours after receiving full payment from the buyer, the platform will enforce the next set of penalty rules.
2. The buyer marks "I have paid" after making the full payment, but the seller fails to release the order within 24 hours after receiving the full payment from the buyer.	The buyer has the right to inform the platform's dispute officer to either proceed with the transaction or request a refund and cancel the order. — If the buyer chooses to proceed and the seller fails to provide a valid reason for the delayed release or refuses to communicate, the platform will automatically release the order to the buyer. — If the buyer requests a refund and cancels the order, the seller must complete the refund within 24 hours, and the order will be canceled. -First violation, a warning will be issued; Second violation, the account will be frozen for 15 days; Third or more violations, the account will be frozen for 6 months.
3. The order was cancelled because the seller failed to provide a valid payment method in time, preventing the buyer from completing the payment.	-If the seller fails to provide a valid payment address, resulting in the order expiring and being cancelled without completion, ReMine will cancel the order during the appeal process. -First violation, a warning will be issued; Second violation, the account will be frozen for 5 days; Third or more violations, the account will be frozen for 15 days.
4. The seller provided the buyer with a payment method that differs from the one registered on the platform, such as an alternative payment address.	If the seller receives two complaints regarding this issue, the system will impose restrictions on certain functionalities of the seller's account. 1) The buyer has the right to cancel the order and file a complaint with the platform. 2) If the seller is complained about due to this behavior, the first violation will result in the account being frozen for 7 days. 3) For two or more violations, certain functionalities will be frozen for 1 month (depending on the severity of the situation, the penalty may be escalated to a permanent freeze). 4)If the buyer makes a payment to an alternative address or using a payment method provided by the seller in violation of the rules, any resulting losses and risks must be handled directly between the buyer and the seller. ReMine will not bear any responsibility for such issues.
5. The order was mistakenly released without receiving the full payment.	1) The seller should contact the buyer via IM, and discuss with the buyer whether additional payment can be made. 2) This type of matter is considered urgent. While negotiating with the buyer, it is also recommended that you submit an appeal or provide feedback on the issue. ReMine will actively assist in contacting the buyer for negotiation, but it will not bear responsibility for the financial loss and risks caused by the seller's failure to release the order.
6. The payment account provided by the seller encountered an abnormality.	The buyer has the right to choose whether to proceed with the transaction or cancel the order. -If the buyer chooses to proceed with the transaction, the buyer must provide proof of payment to confirm that the full payment was made within the order's specified time frame. The seller should release the order within 24 hours of receiving the payment. -If the buyer chooses to cancel the order, the seller should complete the refund within 24 hours.
7. The customer support team is unable to contact the seller within 24 hours of intervening in the appeal.	1) For the first two violations, the transfer function will be frozen, and an online warning will be issued. The function will be unlocked after the issue is resolved. 2) For three or more violations, the transfer function will be frozen for one month. Depending on the severity of the situation, the penalty may be increased, up to a permanent freeze of the function.
8. During the transaction, the seller receives an amount exceeding the order total and does not actively cooperate in returning the excess or seeks to gain unjust profits.	If ReMine reasonably suspects a violation, it will freeze the mining-related functions of the relevant accounts until the internal investigation is completed. After the investigation, if a violation is confirmed, ReMine will impose penalties based on the severity of the violation, with serious offences leading to the permanent freezing of mining-related functions.
9. The user has been preliminarily flagged by the risk control system.
10. The user has been reported for attempting to lure trading parties away from the platform.
11. The user has provided forged transfer records, release records, chat logs, or other false information.	-First-time violation: Account functionalities frozen for 6 months. -In multiple violations or in serious cases, accounts may be frozen permanently and the user's information may be included in the platform’s blacklist. -Compensation for Damages and Penalties: In cases of significant losses, ReMine reserves the right to deduct funds from the user's account to compensate for the losses incurred by the directly or by other users. Additionally, ReMine may impose fines on the violating user according to the penalty terms stated in this transaction rules. -Report to relevant administrative or judicial authorities.

Risk Control Abnormality Triggered	ReMine Rules
1. When a user is flagged for anomalies by the risk control system and explicitly refuses or does not actively cooperate with the platform's further anti-money laundering investigation.	The platform may classify the account as abnormal and take actions such as increasing the user’s risk level or freezing the account and associated accounts, until the user provides sufficient documentation to pass the platform’s risk control review.
2. When a user is flagged by the platform's risk control system for suspected fraud (or an attempted fraud that was unsuccessful).	The platform reserves the right to freeze or restrict the account and associated accounts' access to all mining circle transactions, depending on the situation.
3.Receiving or transferring illegitimate funds: If a user knowingly receives cryptocurrency or funds from another platform that are illicit or related to money laundering, and transfers them to another user's account on this platform, despite the obvious risks.	The platform will permanently restrict all functions of the user’s account and of its associated accounts.
4. Users identified as involved in money laundering: When a user is detected by the risk control system or verified by risk control personnel to be directly participating in or assisting with money laundering or other criminal activities.	The platform will permanently restrict all functions of the user’s account and of its associated accounts.
5. User account frozen by the judiciary: When a user's account is frozen by order of a judicial authority.	The platform will strictly adhere to the judicial documents provided by the judicial authorities to freeze the user’s account. Once the period of restriction ends, a renewal letter from the judicial authority is required for further extension. During the restriction period, any requests for account reactivation from the user will be invalid. Please contact the institution for coordination.
6. User subject to judicial investigation: When a user is required by a judicial authority to provide account information from the platform, including but not limited to: judicial investigations, consultations, or other forms of inquiry.	The platform will cooperate with such judicial inquiries as necessary and restrict certain functions of the user's account and of its associated accounts.

Penalty Rules:

• Penalty for Direct Loss:
  If a user's actions directly result in financial losses to the platform or other users, the penalty will be calculated based on a certain percentage of the actual loss amount. The specific percentage is:
  For financial losses of 1,000 USDT or below (including 1,000 USDT), the penalty will be 100% of the loss amount.
  For financial losses between 1,000 USDT and 10,000 USDT (inclusive), the penalty will be 50% of the loss amount.
  For financial losses exceeding 10,000 USDT, the penalty will be 30% of the loss amount.
  For example, if a user's actions result in a financial loss of 15,000 USDT to the platform or other users, the penalty amount would be calculated as follows:
  1,000USDT × 100% = 1,000USDT
  (10,000USDT - 1,000USDT) × 50% = 4,500USDT
  (15,000USDT - 10,000USDT) × 30% = 1,500USDT
  Total penalty = 1,000USDT + 4,500USDT + 1,500USDT = 7,000USDT
• Penalty for Indirect Loss:
  If a user's actions result in indirect losses to the platform or other users (such as reputation damage, operational disruption, etc.), the penalty amount will be assessed based on the severity of the damage and the scope of its impact. The specific assessment criteria are as follows:
  Minor Impact: Penalty amount will range from 1,000USDT to 5,000USDT
  Moderate Impact: Penalty amount will range from 5,000USDT to 10,000USDT
  Severe Impact: Penalty amount will range from 10,000USDT to 50,000USDT
  The assessment criteria will be determined by the ReMine's appeal handling team based on the specific circumstances.