IMPORTANT NOTICE FOR RESIDENTS OF JAPAN:
These Terms and Conditions do not apply to you if you reside, are located or domiciled in Japan or if you are using or accessing the Services on behalf of an entity that is incorporated, established, or domiciled in Japan. In that case, your account is with our affiliated Japanese company and the following Terms and Conditions (Linked here) provided on the Japanese language version of the Liquid website apply to you. If you are a Japanese citizen but not resident in Japan, your account is with Quoine Pte. Ltd. and the Terms and Conditions set out below apply to you.
QASH-FTT Swap Details and Period. The “QASH token swap to FTT” is a service provided by Quoine Pte. Ltd. (“Quoine”) whereby Users (as hereinafter defined) may swap their QASH tokens (“QASH”) for FTX Tokens (“FTT”) through the swap tool at https://app.liquid.com/qash-ftt-swap (the “QASH-FTT Swap”) on the website version of Liquid by Quoine platform (“Liquid”) on the terms and conditions below. The QASH-FTT Swap will be available during the period from 4 April 2022, 17:00 (JST) till such time as Quoine may, without notice, determine in its sole discretion (the “QASH-FTT Swap Period”). Quoine may revise the foregoing schedule in its sole discretion.
Eligibility. The QASH-FTT Swap is open only to entities who have a verified account on Liquid. The QASH-FTT Swap is not open to entities that are residing, located, or domiciled in the United States of America, Japan or other restricted countries as may be notified by Quoine from time to time (including those stated on Liquid’s website). Entities meeting the requirements of this section or set out elsewhere in these terms and conditions are referred to as “Users”.
Mechanics. The mechanics of the QASH-FTT Swap are set out below:
During the QASH-FTT Swap Period, Users may use the QASH-FTT Swap to swap their QASH for FTT at the following exchange rate:
The rate fixed by Quoine at the start of the QASH-FTT Swap Period calculated based on the Time Weighted Average Price in USD equivalent of QASH and FTT in March 2022 (9am (JST) daily).
From the start of the QASH-FTT Swap Period to 15 April 2022, 23:59 (JST), Users who swap QASH for FTT on the QASH-FTT Swap will receive an additional 20% of FTT from that swap.
From 16 April 2022 to 30 April 2022, 23:59 (JST), Users who swap QASH for FTT on the QASH-FTT Swap will receive an additional 10% of FTT from that swap.
From 1 May 2022, any swaps conducted on the QASH-FTT Swap will not be entitled to any additional bonus FTT.
For the avoidance of doubt, any trade/purchase conducted via any other means on Liquid including the “Swap” feature on Liquid’s Quick Exchange will not entitle the User to the above bonuses and/or rate.
Proceeds from the QASH-FTT Swap. Quoine will credit the FTT from the QASH-FTT Swap into the User’s account with Liquid.
Content or Service Not To Be Construed as Solicitation or Investment Advice. None of the materials in relation to the QASH-FTT Swap including these Terms and Conditions are to be construed as investment advice and do not constitute any offer or solicitation to subscribe, redeem or purchase FTT. The User agrees that he/she/it has understood the risks of the QASH-FTT Swap and independently determined that such a transaction is appropriate for him/she/it.
Disqualification. Quoine reserves the right, in its sole and absolute discretion, to disqualify or prohibit any person from participating or qualifying in any aspect of the QASH-FTT Swap for any reason, including without limitation if Quoine deems or suspects that such person:
has damaged, tampered with, abused or corrupted the operation of the QASH-FTT Swap; or
has engaged in conduct that Quoine considers inappropriate or unacceptable, which includes (without limitation) conduct inconsistent with the intended operation or purpose of the QASH-FTT Swap as determined by Quoine.For avoidance of doubt, Users who engage in prohibited trading conduct through their Liquid accounts (including without limitation wash trading) will be disqualified from all aspects of the QASH-FTT Swap.
All Decisions Final. Quoine’s decisions in any matter in relation to the QASH-FTT Swap will be final and conclusive. All valuations and calculations for the purposes of the QASH-FTT Swap will be determined by Quoine and are final and binding.
No Responsibility. Quoine does not take any responsibility for any circumstance or event that may prevent a person from the use of/ transacting with the QASH-FTT Swap 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.
No Liability. Quoine will not assume any liability for any loss incurred or suffered by any person in connection with the QASH-FTT Swap, however arising.
Compliance with Law; Taxes. Users are solely responsible for complying with all laws applicable to the QASH-FTT Swap and any related activities. Users are solely responsible for determining what taxes, if any, apply to the QASH-FTT Swap and any related activities and for remitting the correct taxes to the appropriate tax authority or authorities. Quoine does not provide any tax advice in relation to the User’s use of the QASH-FTT Swap and is not responsible for determining whether taxes apply to the use of QASH-FTT Swap by the User or for collecting, reporting, withholding, or remitting any taxes arising from the QASH-FTT Swap.
Amendment. Quoine reserves the right to cancel, withdraw, or amend any aspect of the QASH-FTT Swap or these terms and conditions at their sole and absolute discretion without liability to any person.
Third Party Rights. A person who is not a party to these terms and conditions will have no rights under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions.
Governing Law and Jurisdiction. The QASH-FTT Swap and these terms and conditions are governed by the laws of Singapore and are subject to the exclusive jurisdiction of the Singapore courts
Acknowledgment by Users. Each person who uses or transacts with any aspect of the QASH-FTT Swap 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 Quoine without limitation or qualification.