Terms and Conditions
1. The Metacoin <> Liquid Go Live! Campaign (the “Campaign”) is conducted by Quoine Pte. Ltd. (the “Organiser”) during the period from 25 November 2019 00:00 AM GMT+8 to 9 December 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) Trading Campaign.
(a) The top 100 eligible Participants with the highest trading volume of MTC will win a price of 1,000 MTC each (a “Trading Prize”). For avoidance of doubt, the maximum amount available for all Trading Prizes in aggregate is 100,000 MTC.
(b) To be eligible for a Trading Prize, a participant must have a minimum trading volume of 10,000 MTC.
(c) Each Participant’s trading volume will be calculated by the Organiser based on buy and sell MTC token transactions executed through the Participant’s Liquid account during the Campaign Period.
(d) So long as a Participant’s account becomes KYC-verified prior to the end of the Campaign Period, all of the Participant’s MTC token transactions executed during the Campaign Period will be counted towards the Participant’s total trading volume.
(ii) Deposit Campaign.
(a) During the Campaign Period, Participants who deposit into their Liquid account more than 1,000 MTC but not more than 30,000 MTC will receive a 1% bonus in MTC on their deposited amount at the end of the campaign period, and Participants who deposit more than 30,000 MTC will receive a 3% bonus in MTC on their deposited amount (a “Deposit Bonus”).
(b) Participants must have a balance of at least 1,000 MTC in their Liquid accounts at the end of the Campaign Period to be eligible to receive a Deposit Bonus.
(c) Deposit Bonuses will be distributed to eligible Participants in descending order based on each such Participant’s total deposit amount, until an aggregate of 100,000 MTC of Deposit Bonuses are distributed. The Deposit Bonus distributed to the last such Participant will be reduced so that the total amount of Deposit Bonuses distributed to all Participants does not exceed 100,000 MTC. No additional Deposit Bonuses will be available after a total of 100,000 MTC in Deposit Bonuses have been distributed.
Trading Prizes and Deposit Bonuses are referred to collectively as “Prizes”.
If any Participant is found by the Organiser to be ineligible for a Prize at the time of distribution, then such Participant will not have any claim to such Prize and the amount of such Prize will remain available for distribution to other eligible Participants.
4. The Organiser expects to announce the final winners by 20 December 2019 and to airdrop the Prizes to the winners’ respective Liquid accounts by 31 December 2019. The Organize may revise this schedule in its sole discretion.
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. The Organiser may disqualify or prohibit a person for any reason, including without limitation if the Organiser deems or suspects that such person:
(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, will be disqualified from all aspects of the Campaign.
6. If a Prize 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 Prize; or
(ii) if the Prize has been paid out and/or utilised, reclaim the Prize and/or deduct the value of the utilised portion of the Prize from the winner’s Liquid account in any currency.
In such an event, no person will 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 will be final and conclusive.
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 will 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 Prizes, and any subsequent changes to the Prize value (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 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 will have no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.
15. The Campaign and these Terms and Conditions are governed by the laws of Singapore and are 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.