1. The Gram Token Sale Referral Campaign (the “Campaign”) is conducted by Quoine Pte. Ltd. (the “Organiser”) during the period from 11 June, 2019 06.00 AM UTC until an end date to be announced at a later time (the “Campaign Period’). The Campaign is held in conjunction with the Gram Token Sale (as defined below) and will be open to existing users of the Liquid platform who have a live, KYC-Verified Account (as defined below) on Liquid with the Organiser (each, a “Participant”), subject to these terms and conditions. 

2. For every successful referral of a new customer (“Referee”) made by a Participant (“Referrer”), the Referrer will receive USD10 equivalent in Gram tokens (the “Reward”), as calculated based on the sale price of the Gram tokens in the Gram Token Sale. The total applicable Reward will be paid out to the Referrer’s account with the Organiser on the Liquid platform. 

3. A referral will be considered successful where:

  1. during the Campaign Period, the Referee signs up and opens a Verified Account with the Organiser, where his proof of identity, selfie and proof of address has been approved and he has successfully passed the verification process (“KYC-Verified Account”, please refer to here for information on account statuses);
  2. the Referee is eligible to, and does participate in, the sale of Gram tokens on the Liquid platform  from 10 July, 2019 11.00AM UTC until such end date to be announced at a later time (the “Gram Token Sale”), and purchases at least USD100 worth of Gram tokens for his or her KYC-Verified Account with the Organiser in the Gram Token Sale; and
  3. for avoidance of doubt, the Referee must have met all applicable onboarding requirements to open a KYC-Verified Account to the satisfaction of the Organiser prior to participating in the Gram Token Sale.

4. The maximum total value of the Reward a Participant can receive in this Campaign is USD50. The Organiser may amend this cap at its discretion at any time without notice, even if such amendment may be to the disadvantage or detriment of the Participant.

5. The Organiser will calculate the total value of the Reward due at the end of the Campaign Period and airdrop the applicable Reward to the Referrer’s account. Subject to developments relating to the delivery schedule of Gram tokens under the Gram Token Sale, the pay out of Rewards under this Campaign is expected to occur by 29th February 2020. Notwithstanding the foregoing, the Organiser reserves the right, at its sole and absolute discretion, to defer payment of the Rewards to such date as it may determine. Both the Referrer and Referee must maintain a live, KYC-Verified Account on Liquid with the Organiser at the time of pay out in order for the Referrer to receive any Reward. 

6. All valuations for the purposes of the Campaign shall be determined by the Organiser and are final and binding on the Referrer.

7. This Campaign is not open or applicable to Participants, Referrers or Referees that are (i) located or residing in Japan, United States of America or other restricted countries that are not eligible to participate in the Gram Token Sale; or (ii) users who have opened accounts on Liquid with an entity other than the Organiser.

8. The Organiser reserves the right, in its sole and absolute discretion, to disqualify or prohibit a Participant, a Referrer, a Referee or any other person from participating or qualifying in any aspect of the Campaign. Without prejudice to the generality of the foregoing, the Organiser may disqualify or prohibit a person where it deems or suspects that such person: 

  1. has acted in violation of these terms and conditions, Liquid Terms of Use, Liquid Trading Rules or any other agreement entered into with the Organiser (whether in relation to this Campaign or otherwise);
  2. has damaged, tampered with, abused or corrupted the operation of the Campaign; or
  3. has engaged in conduct that the Organiser considers inappropriate or unacceptable, which includes (without limitation) conduct inconsistent with the intended operation or purpose of the Campaign as determined by the Organiser. 

9. If any Referee or Referrer is discovered or deemed to be ineligible for the Campaign for any reason, or is prohibited or disqualified under Clause 8 above, the Organiser is entitled to at any time:

  1. forfeit, withdraw or withhold any Reward; or
  2. where the Reward has been paid out and/or utilised, reclaim the Reward and/or deduct the utilised portion of the Reward from the Referrer’s account. 

In such an event, no person shall be entitled to any payment or compensation from the Organiser.

10. Employees of the Organiser or its related corporations may not participate in the Campaign and will be ineligible to receive any Rewards. 

11. The Organiser’s decisions in any matter in relation to the Campaign shall be final and conclusive. 

12. The Organiser does not take any responsibility for any circumstance or event that may prevent the Participant from participating in the Campaign as a result of certain technical restrictions, issues or other limitations such as force majeure, which include (but are not limited to) regulatory considerations, government directives and government intervention of whatsoever nature. 

13. The Organiser shall not assume any liability for any loss incurred or suffered by any person in connection with the Campaign, howsoever arising, including without limitation, any error in computing trades and Reward due, and any subsequent changes to the Reward value (if any). 

14. This Campaign is not valid in conjunction with other campaigns, offers or promotions unless otherwise stated. 

15. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the Campaign, these terms and conditions shall prevail.

16. The Organiser reserves the right to cancel, withdraw or amend the Campaign or these terms and conditions at its sole and absolute discretion. Without prejudice to the generality of the foregoing, the Campaign and any Rewards due will be cancelled and withdrawn immediately in the event of unforeseen circumstances relating to (i) cancellation or the Gram Token Sale; (ii) failure or significant delay of the TON mainnet launch; or (iii) failure of delivery of the Grams whether in whole or in part under the Gram Token Sale.

17. A person who is not a party to these terms and conditions shall have no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.

18. This Campaign is governed by the laws of Singapore and shall be subject to the exclusive jurisdiction of the Singapore courts.

19. By entering the Campaign, the Participant represents and acknowledges that he or she has read, understood and agree to be bound by these terms and conditions and by all decisions of the Organiser without limitation or qualification.

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