1. Campaign Period. The “Singapore Referral Airdrop Giveaway” Campaign (the “Campaign”) is conducted by Quoine Pte. Ltd. (“Quoine”) on the Liquid by Quoine platform (“Liquid”) during the period from 09 May 2022, 09:00 to 09 June 2022, 23:59 (SGT) or when the Prize (defined below) has been fully redeemed, whichever occurs earlier (the “Campaign Period”). Quoine may revise the foregoing campaign schedule in its sole discretion.

  2. Eligibility. The Campaign is only open to individuals who are existing users of Liquid as “Referrers” and individuals with a valid Singpass account who signs up for an account with Liquid using a Referrer’s personal referral link (details on how to obtain the referral link can be found here) as “Invitees”, subject to these terms and conditions.The Campaign is not open to (1) users 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, (2) non-natural persons, and (3) employees, officers, or directors of Quoine or its affiliated corporations. Persons meeting the requirements of this section or set out elsewhere in these terms and conditions are referred to as “Participants”.

  3. Mechanics. The mechanics of the Campaign are set out below:

    1. Quoine will airdrop XSGD 10 (the “Prize”) to both a Referrer and his/her Invitee when the following are satisfied:

      1. The Referrer copies and shares his/her referral link to an Invitee through an email, text message, or any other preferred messaging app.

      2. The Invitee signs up for a Liquid account through that referral link.

      3. The Invitee completes their account set-up and verification during the Campaign Period and uses their Singpass to complete their KYC and verification of “proof of address” (please refer here for information);

      4. The Invitee must deposit and maintain at least SGD500 in their Liquid account during the Campaign Period (The SGD500 can be used to trade, or swapped with another currency during the campaign);

    2. The Prizes are limited to the first 1000 successful referrals during the Campaign Period.

    3. Additionally, the top 10 Referrers with the most successful referrals during the Campaign Period will also receive XSGD 100 each.

    4. New users of Liquid who sign up during the Campaign Period, whether organically or through a referral, can also participate as a Referrer themselves.

    5. The Prizes hereunder are in addition to any other prizes/incentives as Quoine may offer from time to time (unless expressly excluded under their respective terms).

  4. Payment. Quoine will credit all Prizes in XSGD to qualifying Participants’ respective Liquid accounts no later than 14 days after the end of the Campaign Period. Quoine may revise the foregoing schedule in its sole discretion.

  5. Risk Disclosure. Before you sign up for an account with Liquid and pay Quoine any money or digital payment tokens (“DPT”), you should be aware of the following.

    1. Quoine is exempted by the Monetary Authority of Singapore from holding a license to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to Quoine if Quoine’s business fails.

    2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Quoine.

    3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.

    4. You should be aware that Quoine, as part of its license to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

  6. 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 Campaign for any reason, including without limitation if Quoine deems or suspects that such person:

    1. 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 Quoine (whether in relation to this Campaign or otherwise);

    2. has damaged, tampered with, abused or corrupted the operation of the Campaign; or

    3. has engaged in conduct that Quoine considers inappropriate or unacceptable, which includes (without limitation) conduct inconsistent with the intended operation or purpose of the Campaign as determined by Quoine.

      For avoidance of doubt, Participants who engage in prohibited trading conduct through their Liquid accounts (including without limitation wash trading) will be disqualified from all aspects of the Campaign.

  7. Quoine’s Remedies. If any person is discovered or deemed to be ineligible for the Campaign for any reason, or is prohibited or disqualified under section 6 above, Quoine is entitled at any time:

    1. withdraw, withhold, or require the forfeiture of any Prize; or

    2. where the Prize has been paid out and/or utilized, to reclaim such Prize and/or deduct the value of the utilized 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 Quoine.

  8. All Decisions Final. Quoine’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 Quoine and are final and binding.

  9. No Responsibility. Quoine 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.

  10. No Liability. Quoine will not assume any liability for any loss incurred or suffered by any person in connection with the Campaign, however arising, including without limitation, any error in computing Prizes due and any subsequent changes to the Prize value (if any).

  11. Other Promotions. This Campaign is not valid in conjunction with other campaigns, offers, or promotions unless otherwise stated.

  12. Inconsistency in Terms. 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. Amendment. Quoine 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.

  14. 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 (Cap. 53B) to enforce any of these terms and conditions.

  15. Governing Law and Jurisdiction. 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. Acknowledgment by Participant. 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 Quoine without limitation or qualification.

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