Befilabs Befilabs: Perpetual Trading Access and Leverage
BeFi Labs describes a perpetual trading terminal within its Bitcoin DeFi platform, with leverage up to 60x. Its March 1, 2024 Terms and Conditions impose regional restrictions, including a United States prohibition on perpetual-contract trading.
- updated
- Leverage Ceiling
- Up to 60x in BeFi Labs' description of its perpetual trading terminal.
- Baseline Eligibility
- Users must be of legal age and have capacity to enter binding contracts under the March 1, 2024 terms. Applicable-law, sanctions, and regional restrictions also apply.
Leverage and Product Scope
BeFi Labs distinguishes its spot terminal for buying and selling Bitcoin tokens from its perpetual trading terminal. The stated leverage ceiling belongs to the perpetual product. Its terms make no guarantee about trading outcomes.
A supported wallet provides a connection method; it does not override contractual eligibility. BeFi Labs may also set whitelisting requirements under the terms.
Regional Access Rules
The March 1, 2024 Terms and Conditions distinguish the United States perpetual restriction from broader service exclusions.
| Jurisdiction | Covered Connections | Service Rule |
|---|---|---|
| United States | Citizenship, residence, location, incorporation, or a registered office in the United States. | Perpetual-contract trading is prohibited for covered individuals and entities. |
| United Kingdom | Citizenship, residence, location, incorporation, or a registered office in the United Kingdom. | Services are prohibited unless the individual or entity qualifies as an Investment Professional under Article 19(5) of the United Kingdom's Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. |
| Canada, North Korea, Pakistan, Syria, Iran, the Russian Federation, and Belarus | Citizenship, residence, location, incorporation, or a registered office in any listed jurisdiction. | Services are prohibited for covered individuals and entities. |
The general eligibility clause also excludes residents, nationals, and agents of a restricted jurisdiction. Users must not appear on relevant sanctions lists or intend transactions with restricted persons, restricted jurisdictions, or sanctioned individuals.
VPN Use and Location Checks
The March 1, 2024 terms condition VPN use on consenting to a browser location check when prompted. The check addresses the United States rule for perpetual contracts, the United Kingdom rule with its professional exception, and other restricted jurisdictions. Attempts to circumvent those restrictions remain prohibited.
Fee Scope and Network Charges
The March 1, 2024 terms discuss zero-to-low trading fees for BRC20 tokens and Ordinals. That wording does not specify the perpetual terminal's fee schedule.
BeFi Labs separately requires payment of applicable blockchain network charges and other displayed fees under those terms. Estimated charges can differ from the amount actually paid.
Perpetual Access Checklist
- Match citizenship, residence, location, incorporation, and registered-office connections to the applicable country rule.
- Apply the United Kingdom exception only when the specified Investment Professional qualification is met; other eligibility conditions still apply.
- If using a VPN, consent to the prompted browser location check without attempting to bypass regional restrictions.
- Account for applicable network and displayed charges without treating BRC20 and Ordinals fee language as a perpetual fee quote.