A Boost account allows you to lend your cryptoasset (stablecoin or crypto) to Ziglu and in return we will pay you yield weekly on your Boost account balance. We will use the cryptoassets lent to us for our own commercial purposes, which may include us lending them to third party exchanges. In return, we will pay you a yield each week into your relative Boost account in the same cryptoasset you lent to Ziglu. Outside of a risk event which is detailed further below, when you wish to remove your assets from your Boost account(s), the funds that will be available for withdrawal will include the entirety of the deposited cryptoasset (minus any previous withdrawals) as well as any yield that has been accrued on the account.
A Boost Account is a high risk product and you should not invest unless you are prepared to lose all the money you invest. When using the Boost account there are some things to remember:
- Each Boost account is provided independently, so there may be differences between them, e.g. the yield.
- Boost accounts are a cryptoasset product and it is important for you to understand the unique risks that different types of cryptoassets carry. Take 2 mins to learn more to understand the risks associated with cryptoasset investments.
- Whilst there is an opportunity to earn a yield with Boost, there’s also liability to consider. Ziglu may lend these assets to a third party, and in the event a borrower is unable to repay the loan we may become unable to repay obligations to you. As a result, you may get back less than you put in. We always work hard to ensure this doesn’t happen and perform robust due diligence checks on our partners. However, we can’t remove that risk completely and you can read our Cryptoasset Summary to learn more about the specific risks of cryptoassets.
- Boost is an unregulated product and your Boost account is not subject to the same regulatory safeguarding arrangements as the funds in your cash account. Additionally, you are not protected by the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service in the event of a financial loss.