Fee

Terms used in this document have the following meanings. Terms not defined herein shall have the meanings ascribed to them in the Coincheck Crypto Asset Transaction Manual (the "Transaction Manual").

1. (1) “Eligible Customer” means a customer listed in Section 6.3 (Staking Service) of the Transaction Manual as a “Customer Eligible to Receive Granted Rewards”.
2. (2) “ Customer's Grant Resource” means the amount calculated as follows.
   “Eligible ETH Staking Reward” x “Granted Percentage”
3. (3) “Granted Percentage” means 70%.
4. (4) “Total Volume Held” by a customer means the total volume of ETH held by that customer in its user account as of the Reference Time for each day of the relevant Calculation Period. The “balance of ETH held in that user account” does not include the following.
   1. (ⅰ)Crypto assets for which you have placed a sell order on a crypto asset exchange and are bound by such order.
   2. (ⅱ)Crypto assets for which you have placed an offer to purchase NFTs on the Coincheck NFT and are bound by such offer.
   3. (ⅲ)Cryptographic assets that you are requesting us to send to an external address.
   4. (ⅳ)Cryptographic assets that are being lent to us under the Lending Cryptographic Assets Service.
   5. (ⅴ)Cryptographic assets in the “Confirmation of receipt” status (cryptographic assets in the status before being reflected in the customer's account).
5. (5) “Base Time” means the time determined by the Company.
6. (6) “Grant Rate” for a customer means the rate calculated as follows
   (Total volume held by the customer) ÷ (Total volume held by all customers)
   Note: “Customer” here refers to all customers and is not limited to Eligible Customers.
7. (7) “Calculation Period” means the period (28 days) from the day 29 days prior to the relevant Grant Date to the day two days prior to the relevant Grant Date.
8. (8) “ETH Staking Reward” means the ETH that we receive from the ETH Protocol as a reward for staking.
9. (9) “Eligible ETH Staking Reward” means the total ETH Staking Reward received during the relevant Calculation Period.
10. (10) “Grant Date” means the day on which Grant Rewards are granted to Eligible Customers, which is a Wednesday every 28 days. The initial Grant Date will be determined by the Company.

The amount of the Granted Reward to be received by each Eligible Customer on the Grant Date shall be calculated in accordance with the following formula
(Granted Reward) = (Customer's Grant Resource) x (Grant Percentage of such Eligible Customer)

On the date of grant, we receive a commission calculated by the following formula from the subject ETH Staking Reward.
(Fee) = (Eligible ETH Staking Reward) - (Total amount of Eligible Customers's Granted Reward)