RedFox Trade More, Win More Campaign

Terms and Conditions 


  1. The RedFox Trade and Win Campaign (the “Campaign”) is conducted by Quoine Pte. Ltd. (the “Organiser”) during the period from 19 August 2019 00:01 AM GMT+8 to 18 September 2019 23:59 PM GMT+8 (the “Campaign Period”). The Campaign will be open to existing users of the Liquid platform who have a live, Verified Account on Liquid with the Organiser (each, a “Participant”), subject to these terms and conditions. A Verified Account is where the user’s proof of identity, selfie and proof of address has been approved and he has successfully passed the Organiser’s verification process (please refer to here for information on account statuses).

2. This Campaign is not open to users that are (i) residing, located, domiciled, incorporated or established in Japan or other restricted countries as may be notified by the Organiser from time to time; or (ii) users who have opened accounts on Liquid with an entity other than the Organiser. 

3.The mechanics of the Campaign are as set out below:

  • (i)The top five (5) Participants with the highest trading volume of RFOX token transactions at the end of the Campaign Period (the “Winners”) will be awarded a share in the prize pool. Participant’s trading volume will be calculated by the Organiser based on buy and sell RFOX token transactions executed through the user’s Liquid account during the Campaign Period. 
  • (ii)The value of the prize pool will vary depending on the total consolidated trading volume of all RFOX token trading pairs on Liquid during the Campaign Period (“Total RFOX Trading Volume”) as set out below: 

Total RFOX Trading Volume                           Value of prize pool 

40,000,000 to 70,000,000                                    1 BTC 

70,000,001 to 100,000,000                                   2 BTC 

More than 100,000,000                                        3.5 BTC

The Total RFOX Trading Volume shall be as determined by the Organiser.

(iii)Each Winner will be ranked from 1 to 5, where the Winner with the highest trading volume of RFOX token transactions is rank 1 and the Winner with the lowest trading volume is rank 5. Each Winner will be allocated a specific share in the prize pool according to their rank asset out below:


Rank                          Allocation in the prize pool
1                                                  30%
2                                                 25%
3                                                 20%
4                                                 15%
5                                                 10%


For avoidance of doubt, in the event that any Winner is for any reason not eligible to receive their share in the prize pool before or at the time of distribution for any reason, their allocation in the prize pool will go to the Winner of the next rank. The Organiser reserves the right, but is not obligated, to select another Participant as a Winner in the event any share of the prize pool remains unallocated for any reason whatsoever. No Prizes will be awarded where the total consolidated trading volume at the end of the Campaign Period is less than 40,000,000 RFOX tokens.

4. The Organiser shall announce the final Winners by 2 October 2019. The Organiser will airdrop the relevant share of the prize pool to the Winners’ respective Liquid accounts by 31 October 2019. Notwithstanding the foregoing, the Organiser reserves the right, at its sole and absolute discretion, to defer distribution to such date as it may determine. All Winners must maintain a live, Verified Account on Liquid with the Organiser at the time of distribution in order to receive any prize under the Campaign.

5. The Organiser reserves the right, in its sole and absolute discretion, to disqualify or prohibit a Participant 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:

 (i) has acted in violation of these terms and conditions, the Liquid Terms of Use, the Liquid Trading Rules or any other agreement entered into with the Organiser (whether in relation to this Campaign or otherwise);

(ii) has damaged, tampered with, abused or corrupted the operation of the Campaign; or

(iii) 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. 

For avoidance of doubt, Participants who engage in prohibited trading conduct on their Liquid accounts such as wash trading, shall be automatically disqualified from all aspects of the Campaign. 

6. If a Winner is discovered or deemed to be ineligible for the Campaign for any reason, or is prohibited or disqualified under Clause 5 above, the Organiser is entitled to at any time:

(i) forfeit, withdraw or withhold any part of such Winner’s share in the prize pool; or

(ii) where his share in the prize pool has been paid out and/or utilised, reclaim and/or deduct the equivalent value of the utilised portion from the assets in such Winner’s Liquid account. 

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

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

 8. The Organiser’s decisions in any matter in relation to the Campaign shall be final and conclusive. All valuations and calculations for the purposes of the Campaign shall be determined by the Organiser and are final and binding. For avoidance of doubt, the Organiser shall have the sole and absolute discretion to exclude wash trades and any other trades it deems ineligible from its calculations for the purposes of this Campaign.

 9. 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. 

 10. 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 prize due, and any subsequent changes to the prize pool or value of the allocated share (if any). 

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

12. 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.

 13. The Organiser reserves the right to cancel, withdraw or amend any aspect of the Campaign or these terms and conditions at its sole and absolute discretion without liability.

 14. 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.

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

 16. 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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