Rules of "Welcome Quest Promo"
1. General Rules
1.1. Welcome Quest Promo (hereinafter referred to as “the Promo”) shall be conducted within the period from 14:30 UTC on September 1, 2023, until 23:59 UTC on September 30, 2023 (“the Promo Period”).
1.2. The organisation and conduct of the Promo, as well as the participation therein, shall be governed by the terms and conditions of the present rules (“the Rules”) and the Nexo Services General Terms and Conditions, Nexo Exchange Service General Terms and Conditions, Nexo Earn Interest Product General Terms and the Nexo Pro Trade Services General Terms and Conditions (“General Terms”), available on the Nexo Platform and Nexo Pro Platform.
2. Right of Participation
2.1. Clients, who comply with the Rules and the General Terms, (i) have not previously opened a Nexo Account, or (ii) have not previously topped up any Digital Assets in their Nexo Account, and are not citizens or residents of the USA, or residents of Canada, UK, or any other jurisdictions where we have restricted our services, can participate in the Promo (separately referred to as “Participant”, and collectively as “Participants”).
2.2. By participating in the Promo, every Participant declares full and unconditional consent to the Rules and agrees to accept as final and binding all Nexo’s decisions with regard to the Promo.
3.1. The Promo shall comprise two (2) distinct activities ("Activities"), in which Participants can simultaneously take part.
3.2. To be eligible for a Reward from the first Activity (“Funding Quest”), the Participant shall meet all of the conditions in this section cumulatively:
3.2.1. to complete one or more Digital Assets top-up transactions during the Promo Period, using the available methods on the Nexo Platform, the equivalent of which shall have a total amount of at least USD 1,000 (“Promo Deposits”). Each transaction is taken into consideration, based on the USD value indicated in the Nexo Account and Nexo Pro Account;
3.2.2 chose to engage in one of three ways with Nexo Earn Interest Product:
- maintain the Promo Deposits for a minimum period of 30 days in their Nexo Account from the date the amount under Art. 3.2.1 was reached, and the total value of the Nexo Account should not be decreased below USD 800 during that 30-day period, based on the eligibility check carried each day at 5:00 UTC;
- create a 1- or 2-month Fixed Term, separate or combined, with a total amount equivalent to at least USD 1,000 of the Promo Deposits before the end of the Promo Period;
- create a 3-, 6-, or 12-month Fixed Term, separate or combined, with a total amount equivalent to at least USD 1,000 of the Promo Deposits before the end of the Promo Period;
3.3. To be eligible for a Reward from the second Activity (“Trading Quest”), the Participant has to reach an exchange transaction volume of at least USD 1,000 in Digital Assets within the Promo Period. The final volume will take into consideration only Еxchange Тransactions of certain trading pairs executed by the Participant on the Nexo Platform and on the Nexo Pro Platform as indicated on the Nexo Platform. Futures Transactions executed on the Nexo Pro Platform and top up of Digital Assets with a debit or credit card on the Nexo Platform do not count toward the volume under this Activity. Each transaction is taken into consideration, based on the USD value indicated in the Nexo Account and Nexo Pro Account;
3.4. Top-ups from other Nexo Accounts will not be eligible for participation in either of the Activities.
4.1. If the Participant satisfies all of the requirements either in Art. 3.2 or in Art. 3.3, they are eligible to receive the applicable Reward (“the Reward”).
4.2. The Rewards under Art. 3.2 are determined by the action taken by the Participant under Art. 3.2.2 as follows:
4.2.1. 10 USDC for maintaining the Promo Deposits for a minimum of 30 days in their Nexo Account;
4.2.2. 25 USDC for creating a Fixed Term with a term of at least 1 month with the Promo Deposits;
4.2.3. 75 USDC for creating a Fixed Term with a term of at least 3 months with the Promo Deposits.
4.3. The Rewards under Art. 3.3 are based on their total exchange volume as indicated above, as follows:
4.3.1. 20 NEXO Tokens for a volume of at least USD 1,000 in Digital Assets;
4.3.2. 30 NEXO Tokens for a volume of at least USD 2,500 in Digital Assets;
4.3.3. 50 NEXO Tokens for a volume of at least USD 10,000 in Digital Assets;
4.4. All Rewards under Art. 4.2 will be paid out by November 10, 2023, and under Art. 4.3 will be paid out by October 10, 2023. Nexo devotes significant efforts to ensure that pay outs under the preceding sentence will be processed within the above terms, however due to technical issues or unforeseen events, processing may take longer time, for which Nexo cannot be held liable.
4.5. If the Participants satisfy the requirements in Art. 3.2 and Art. 3.3 simultaneously, they will receive the respective Rewards under Art. 4.2 and Art. 4.3, plus a Platinum Loyalty Tier for one month (“Reward period”), starting on October 10, 2023, regardless of their NEXO Token holdings. During the Reward period, any Nexo Services utilised by the Participants will receive the advantageous Platinum Loyalty Tier benefits. To maintain these benefits beyond the Reward period, the Participants must fulfil the criteria for achieving the Platinum Loyalty Tier before the Reward period ends.
4.6. In the event that a Participant is a Referred Client under the meaning given in the General Terms, they will only be eligible for a Reward under Art. 4.2.3., which will be 50 USDC, and the Rewards under Art. 4.3 and Art. 4.5.
5. Rights Reserved by Nexo
5.1. Nexo reserves the right, at its sole discretion, to cancel, terminate, modify or suspend the Promo should virus, bug, non-authorized human intervention, fraud, or other cause beyond Nexo’s control corrupt or affect the administration, security, fairness, or proper conduct of the Promo.
5.2. Nexo reserves the right, at its sole discretion, to disqualify, revoke or deny the Promo’s Reward, block access to products, or exclude from future promotional offers any client who tampers or attempts to tamper with the entry process or the operation of the Promo, including but not limited to engaging in dishonest or abusive activities, bulk-account registrations to obtain additional Rewards, using the same top-up/withdrawal addresses or generate activity from the same IP address and any other activity that is unlawful, fraudulent, or harmful or such that violates the Rules or the General Terms. Nexo has the right, at its sole discretion, to maintain the integrity of the Promo, including, but not limited to, the use of bots, macros, scripts, or other technical means for entering. Any attempt by a Participant to undermine the legitimate operation of the Promo may represent a violation of criminal and civil laws. Should such an attempt be made, Nexo reserves the right to seek damages to the fullest extent permitted by law.
6.1. Nexo, at its sole discretion, at any time during the Promo Period or otherwise, can amend the Rules.
6.2. Any notice required or made under these Rules by any Participant to Nexo shall only be made via e-mail in English to [email protected]. Any notice required or made under these Rules from Nexo to any Participant shall be considered validly received when addressed to the Participant’s last provided email address, mailing address or phone number.
6.3. Nexo shall have no liability for any Participant’s failure to receive notices therefrom regarding the Promo due to spam, junk e-mail or other security settings or any Participant’s provision of incorrect or non-functioning contact details. If a Participant cannot be contacted or is ineligible, Nexo, at its sole discretion, may invalidate any Reward under Art. 4.
6.4. All relations between Nexo and the Participants will be governed by the present Rules, the General Terms and the Applicable Law, as defined by the General Terms.
6.5. By entering the Promo, the Participants declare that they have reviewed, accepted, and consented to all terms and conditions of the Rules.