1) The Liquid-KLAY Campaign (the “Campaign”) is conducted by Quoine Pte. Ltd. (the “Organiser”) during the period from 26 February 2020, 00:00 to 30 March 2020, 23:59 (GMT+8)(the “Campaign Period”). The Campaign will be open to existing users of the Liquid platform who have a live Basic or Verified Account on Liquid with the Organiser (each, a “Participant”), subject to these terms and conditions (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 Campaign comprises of “KLAY Deposit Event”, “KLAY Trading Contest” and “KLAY x QASH HODL Campaign”. The mechanics of the three sub-campaigns are set out below:
i. KLAY Deposit Event
a) Up to 40,000 KLAY tokens (“KLAY”) will be given away under the KLAY Deposit Event, of which 20,000 KLAY will be allocated to be the prize for a bonus lucky draw as part of the event.
b) To be eligible for the giveaway, Participants must deposit at least 250 KLAY in their Liquid account at any time during the period commencing from 26 February 2020, 00:00 to 30 March 2020, 23:59 (GMT+8) (“Deposit Period”).
c) 25 KLAY will be awarded for every 250 KLAY deposited in a Participant’s Liquid account during the Deposit Period, subject to a maximum cap of 100 KLAY that may be awarded per Participant. KLAY rewards will be distributed on a first-come-first-served basis.
d) Notwithstanding whether they received a reward under sub-paragraph c., all Participants who fulfil the eligibility criteria in sub-paragraph b. will be automatically entered into a bonus lucky draw where one Participant will be selected to win 20,000 KLAY.
ii. KLAY Trading Contest
a) Subject to applicable terms and conditions, Participants with the 50 highest consolidated KLAY trading volume shall be eligible to win KLAY prizes under the KLAY Trading Contest (“Top Traders”).
b) Participant’s consolidated KLAY trading volume will be calculated by the Organiser based on buy and sell KLAY transactions executed through the user’s Liquid account from 3 March 2020, 00:00 to 30 March 2020, 23:59 (GMT+8)(“Trading Period”). All trading volume should be a result of legitimate trade transactions and Participants are reminded that wash trading and other prohibited trading practices are strictly forbidden.
c) To be eligible for any prize under the KLAY Trading Contest, Top Traders must:
I. execute a minimum of USD1,000 worth of trades on KLAY trading pairs on Liquid; and
II. achieve a minimum net purchase of 1000 KLAY from all his transactions at the conclusion of the Trading Period.
d) Top Traders will be ranked from 1st to 50th, where the Top Trader with the highest consolidated KLAY trading volume is ranked 1st and the Top Trader with the lowest trading volume is ranked 50th. The amount of KLAY to be awarded to each Top Trader are set out in the table below:
e) Top Traders will be automatically entered into a bonus lucky draw where one Top Trader will be selected to win an additional 2,000 KLAY.
f) In the event that any Top Trader is for any reason deemed by the Organiser not to be eligible to receive their prize before or at the time of distribution for any reason, their prize will go to the Top Trader of the next rank. The Organiser reserves the right, but is not obligated, to select another Participant as a Top Trader in its discretion in the event any prize remains unallocated for any reason whatsoever. The Organiser shall have sole and absolute discretion in determining whether a Participant is eligible to be selected as a Top Trader.
iii. KLAY x QASH HODL Campaign
a) Up to 10,000 KLAY will be given away under the KLAY x QASH HODL Campaign.
b) To be eligible for the giveaway, Participants must hold a minimum balance of 500 KLAY and 500 QASH in their Liquid accounts for at least 14 days during the entire period from 16 March 2020, 00:00 to 30 March 2020, 23:59 (GMT+8)(“Holding Period”). 10 lucky winners will be selected among eligible Participants to win a prize of 1,000 KLAY each.
c) For avoidance of doubt, if a Participant’s Liquid account holdings fall below the specified minimum balances at any time during the Holding Period, such Participant shall not be eligible for any prize under the KLAY x QASH HODL Campaign.
4) The Organiser will contact all prize/award recipients by 10 April 2020 and distribute the KLAY prizes and awards to the respective Liquid accounts by 10 May 2020. An email confirmation will be sent to all prize/award recipients for the purposes of facilitating distribution of the applicable KLAY awards and prizes. The Organiser 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 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 through their Liquid accounts (including without limitation wash trading) will be automatically disqualified from all aspects of the Campaign.
6) If any prize/award recipient 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 the prize or award; or
ii. where the prize or award has been paid out and/or utilised, reclaim the prize or award and/or deduct the value of the utilised portion of the prize or award from such person’s Liquid account in any currency or cryptocurrency.
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 prize or award under this Campaign.
8) The Organiser’s decisions in any matter in relation to the Campaign will be final and conclusive. conclusive. All valuations and calculations for the purposes of the Campaign shall be determined by the Organiser and are final and binding.
9) The Organiser does not take any responsibility for any circumstance or event that may prevent a 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 the prize or award due, and any subsequent changes to the prize or award 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 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 to any person.
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) This 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.