Published on 31 March 2021
1. The $5,000 KSM Deposit and Trading Competition (the “Campaign”) is jointly conducted by Quoine Pte. Ltd. (the “Quoine” or the “Organiser”) during the period from 5 April 2021, 12:00 to 19 April 2021, 23:59 (JST) (the “Campaign Period”).
2. The Campaign is open only to individual users of the Liquid platform who have a Verified Account with Quoine on Liquid (each, a “Participant”), subject to these terms and conditions (please refer here for information on Verified Accounts).
3. This Campaign is not open to (a) users that are residing, located, domiciled, incorporated or established in the United States of America, Japan or other restricted countries as may be notified by Quoine from time to time or (b) corporate account holders.
4. The Campaign is comprised of the “KSM Deposit Competition” and “KSM Trading Competition” sub-campaigns. The mechanics of the sub-campaigns are set out below:
i. KSM Deposit Competition
a. Up to USD2,000 worth of KSM tokens (“KSM”) (approximately 3.6 KSM) will be given away under the KSM Deposit Event.
b. To be eligible for the giveaway, Participants must deposit an aggregate of at least 0.5 KSM in their Liquid account during the period from 5 April, 2021, 12:00 to 10 April 2021, 12:00 (JST) (“Deposit Period”).
c. Eligible Participants will be awarded 10% of the aggregate amount of KSM they had deposited during the Deposit Period, subject to a maximum cap of 0.2 KSM that may be awarded per Participant.
d. The aggregate amount of KSM deposited by an eligible Participant is determined by the total amount of KSM deposited in the Participant’s Liquid account during the entirety of the Deposit Period.
e. KSM rewards will be distributed on a first-come-first-served basis.
ii. KSM Trading Competition
a. Subject to applicable terms and conditions, the 3 Participants with the highest consolidated KSM/BTC trading volume shall be eligible to win KSM prizes under the KSM Trading Competition (“Top Traders”).
b. Participant’s consolidated KSM/BTC trading volume will be calculated by the Organiser based on buy and sell KSM/BTC market transactions executed through the user’s Liquid account during the Campaign 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. Top Traders will be ranked from 1st to 3rd, where the Top Trader with the highest consolidated KSM trading volume is ranked 1st and the Top Trader with the lowest trading volume is ranked 3rd. The amount of KSM to be awarded to each Top Trader are set out in the table below:
Prize in USD*
USD1,500 worth of KSM
USD1,000 worth of KSM
USD500 worth of KSM
* As valued at the time of distribution.
d. 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.
5. Within 3 weeks from the end of the Campaign Period, Quoine will contact the prize recipients and distribute the KSM prizes to their respective Liquid accounts. Quoine may revise the foregoing schedule in its sole discretion.
6. The Organiser reserves the right, in their sole and absolute discretion, to disqualify or prohibit any 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:
b. has damaged, tampered with, abused or corrupted the operation of the Campaign; or
c. 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.
7. If any person is discovered or deemed to be ineligible for the Campaign for any reason, or is prohibited or disqualified under Clause 6 above, the Organiser is entitled at any time:
a. to forfeit, withdraw or withhold any prize; or
b. where the prize has been paid out and/or utilised, to reclaim such prize and/or deduct the value of the utilised portion of such prize from the winner’s Liquid account in any currency.
In such an event, no person shall be entitled to any payment or compensation from the Organiser.
8. Employees of the Organiser or their related corporations may not participate in the Campaign and will be ineligible to receive any prizes under the Campaign.
9. The Organiser’s decisions in any matter in relation to the Campaign will be final and conclusive. All valuations and calculations for the purposes of the Campaign will be determined by the Organiser and are final and binding.
10. The Organiser does not take any responsibility for any circumstance or event that may prevent a person from participating in the Campaign as a result of 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.
11. 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 prizes due, and any subsequent changes to the prize value (if any).
12. This Campaign is not valid in conjunction with other campaigns, offers or promotions unless otherwise stated.
13. 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.
14. The Organiser reserves the right to cancel, withdraw or amend any aspect of the Campaign or these terms and conditions at their sole and absolute discretion without liability to any person.
15. 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.
16. 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.
17. Each person who enters or participates in any aspect of the Campaign 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.