If you're going to be an internet lawyer you should at the very least do a bit of research.
Limited License Grant - Basically this is saying that this is a intellectual property rights license. In this case referring to copyright. You are granting some but not all the rights which the owner holds.
Non-exclusive rights and license - This is an agreement repeating parts of the above and also stating that you the owner retain the right to also allow others to enter a non-exclusive agreement over your property. Basically if you want to post to royalroad, Amazon or your own site you can.
With the right to sub-license to Webnovel affiliates - This means if JoesCrabShack is an affiliate of Webnovel they can do all the below listed as well.
"host, store, transfer, display, perform, reproduce, transmit, broadcast, modify (which is made solely for the purpose of formatting for display), and distribute your User Content, in whole or in part, in any media formats only through our Services."
They can post your story, transfer it to another site if theirs or an affiliates, display it, perform, reproduce the story (Copy, not to be confused with stealing), transmit and broadcast via advertising, modify: which there is a clause to only modify for format purposes and distribute your story as a whole or only part of it in any media or advertising that the Webnovel services take part in.
What these ToS do not grant. Permanent contract, you are free to break the Grant should Webnovel breach anything such as "Stealing" your story. Its vague and unspecified but the one debatable piece is the length of the grant/license. But because its limited it cant be a permanent thing.
Monetization - By bringing traffic to the site or if someone opens and reads your book Webnovel can make money off of your book via ads if they are plastered all over. What they can not do is suddenly turn your book premium and pocket the money. One they would be breaching the limited grant opening themselves up to more problems and two it's much easier for them to write up a new contract for payment that will give them an exclusive grant and obtain more rights to your story, like all publishers do.
Can they turn your story into an anime, manga, manhwa, books or pdf files. Yes and no, they would first need a branch or affiliate site that has those kinds of people on staff. Secondly due to the fact that there is a clause on the modify no they could not turn it into an anime or manga. The reason why is because if in your story the roads are blue and they print a black and white that's already a breach of modifying. But going back to monetization they are not going to waste resources, time and money on something that they dont even have the full rights to sell.
After that wall of text I'd say you have to be a special kind of conceited to believe that your books are so good they would warrant Webnovels attention in the first place. Take the tinfoil hat off and just write. If you dont wanna do it here then piss off onto the many other platforms. No ones begging you to publish on Inkstone.
, it ain't possible ~meow. 
