ETN x Liquid Trading Contest

Terms and Conditions


1. The ETN x Liquid Trading Contest(the “Campaign”) is conducted by Quoine Pte. Ltd. (the “Organiser”) during the period from 6 November 2019 00:00 AM GMT+8 to 20 November 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 forty (40) Participants with the highest consolidated ETN token trading volume at the end of the Campaign Period (the “Winners”) will be awarded ETN tokens. The total ETN token prize pool for this Campaign is worth USD25,000. Prices will be paid based on the ETN price on the 20th November. Participant’s consolidated ETN token trading volume will be calculated by the Organiser based on buy and sell ETN token transactions executed through the user’s Liquid account during the Campaign Period.

 (ii) Winners will be ranked from 1st to 40th, where the Winner with the highest consolidated ETN token trading volume is ranked 1st and the Winner with the lowest trading volume is ranked 40th. The prize value of ETN tokens to be awarded to each Winnerareset out in the table below:

Rank Prize Value (to be distributed in ETN tokens) 

1st USD 10,000 

2nd USD 5,000 

3rd USD 1,000 

4th - 5th USD 750 

6th - 10th USD 500 

11th - 20th  USD 300 

21st - 40th USD 100 

 For avoidance of doubt, in the event that any Winner is for any reason not eligible to receive their prize before or at the time of distribution for any reason, their prize 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 its discretion in the event any prize remains unallocated for any reason whatsoever.

 4. The Organiser shall announce the final Winners by 27 November 2019. The Organiser will airdrop the prizes to the Winners’ respective Liquid accounts by 30 November 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 prize; or

(ii) where the prize 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 prizes (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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