Nexo Point Hunt General Terms and Conditions

I. INTRODUCTION

These Nexo Points Hunt General Terms and Conditions (“General Terms”) govern the contractual relations between you (“Participant” or “you”) and any holding company, subsidiary or entity belonging to the Nexo group of companies (“Nexo” or “we”), while you and Nexo are hereinafter separately referred to as “Party” and jointly - as “Parties”, in regard to your participation in the Nexo Points Hunt, and constitute a legally binding agreement (“Agreement”) between the Parties.

II. DEFINITIONS

  1. Eligible Transaction means the relevant transaction indicated on the Nexo Platform for accumulating Nexo Points, subject to revision from time to time, at our sole and absolute discretion;
  2. Nexo Points Hunt means an activity offered by Nexo, allowing you to accumulate, respectively, deduct Nexo Points while performing Eligible Transactions and/or Rebalancing Transactions on the Nexo Platform in accordance with the present General Terms;
  3. Nexo Points means non-transferable points, accumulated on the Participant’s Nexo Account upon execution of Eligible Transactions, respectively deducted upon execution of Rebalancing Transactions, and allowing the Participant with positive Nexo Points balance to redeem the relevant amount of Airdrop Tokens from the Airdrop as indicated on the Nexo Platform and in accordance with the present General Terms;
  4. Campaign Period means the relevant period during which Nexo Points may be accumulated, respectively deducted, at the end of which, if the prerequisites are met, Participants may redeem the relevant amount of Airdrop Tokens from the Airdrop;
  5. Rebalancing Transaction means the relevant transaction indicated on the Nexo Platform leading to deduction of Nexo Points, subject to revision from time to time, at our sole and absolute discretion;
  6. Airdrop means a dedicated pool of NEXO Tokens, from which Airdrop Tokens may be redeemed, as indicated on the Nexo Platform, subject to revision from time to time, at our sole and absolute discretion;
  7. Airdrop Tokens means the relevant amount of NEXO Tokens from the Airdrop, calculated at a specific mechanism as indicated on the Nexo Platform, subject to revision from time to time at our sole and absolute discretion, and distributed to Participants after redeeming the relevant amount of the Airdrop Tokens in accordance with the present General Terms.

These General Terms are in addition to the other terms and conditions governing the use of Nexo Services. Unless stated otherwise, references shall be made to the Nexo Services General Terms and Conditions, the Nexo Crypto Credit General Terms and Conditions, the Nexo Earn Interest Product General Terms and Conditions and the Nexo Exchange Service General Terms and Conditions, and all the defined terms, used in these General Terms, shall have the same meaning as the one given to them in the relevant General Terms, as the case may be.

III. PARTICIPANT

  1. You can enter into this Agreement and participate in the Nexo Points Hunt only if all of the conditions below are met:

    1. You have opened a Nexo Account, respectively have met the conditions under Art. IV.1, Items 1.1, 1.2, 1.4 - 1.8 of the Nexo Services General Terms and Conditions;
    2. You are not a citizen or resident of the USA, UK, Canada, Bulgaria or Estonia, and you do not have any relevant connection with any jurisdiction where we have prohibited or restricted access to the Nexo Services or the Nexo Points Hunt.
  2. By entering into this Agreement, you acknowledge and confirm that you meet all the conditions set out above. In the event that we subsequently ascertain that you have not met or do not meet any of these conditions anymore, we may suspend your participation in the Nexo Points Hunt and/or the related Nexo Services, and/or close your Nexo Account. 
  3. You understand and agree that, at any time, at our sole and absolute discretion, without liability to you, we can: (i) refuse your request to participate in the Nexo Points Hunt; (ii) change the conditions for entering into the Agreement or participation in the Nexo Points Hunt; (iii) suspend the provision of the Nexo Points Hunt or all or part of the related Nexo Services; (iv) change, update, remove, cancel, suspend, disable or discontinue any feature, component, content, incentive of the Nexo Points Hunt without or with minimal notification ahead.
  4. Employees of Nexo and employees of its affiliated entities, as well as members of the families of such employees, are not eligible to participate in the Nexo Points Hunt.

    IV. MECHANISM OF THE NEXO POINTS HUNT

    1. The Nexo Points Hunt allows you to accumulate Nexo Points upon execution of Eligible Transactions, respectively in order to avoid abuse of the Nexo Points Hunt and to ensure fairness for all Participants, Nexo also applies a rebalancing system, namely Rebalancing Transactions, which deduct Nexo Points, as indicated on the Nexo Platform and in the Nexo Account. You understand and acknowledge that the execution of Rebalancing Transactions may lead to a negative Nexo Points balance, thus depriving you of the ability to redeem Airdrop Tokens from the Airdrop. The Rebalancing Transactions are only limited to the Nexo Points Hunt and the relevant Campaign Period and do not carry over to subsequent campaigns, nor do they affect your Nexo Account balance.
    2. The relevant number of Nexo Points to be accumulated, respectively deducted, for the execution of Eligible Transactions or Rebalancing Transactions, is indicated on the Nexo Platform and in the Nexo Account and shall be based on the USD value of the Digital Assets subject of the said Eligible Transaction, respectively Rebalancing Transaction, at the time of its execution.  
    3. Nexo Points shall not earn Interest, cannot be transferred, withdrawn, used as Collateral, exchanged, stacked, substituted for other rewards, transferred between Participants, or used in whatsoever manner, indicated on the Nexo Platform and in the Nexo Account as restricted, subject to revision from time to time at our sole and absolute discretion. 
    4. Once an Eligible Transaction is executed, respectively, a Rebalancing Transaction, your Nexo Points balance, visible in your Nexo Account, will be updated accordingly. 
    5. Nexo Points shall have no cash value and shall be accumulated only within the Campaign Period, as indicated by Nexo on the Nexo Platform and in the Nexo Account.
    6. Nexo reserves the right to distribute preferential Nexo Points at any time as part of marketing campaigns or otherwise, at its sole and absolute discretion.
    7. We may, at our sole and absolute discretion, reverse or adjust any executed Eligible Transaction and/or Rebalancing Transaction in case of system or technical error detected by Nexo, regardless of the reason for such. In case of reversal, the Nexo Points associated with the Eligible Transaction and/or Rebalancing Transaction will be adjusted accordingly in your Nexo Account.

    V. AIRDROP

    1. After the Campaign Period and within the relevant timeframe (“Airdrop Redemption Period”), as indicated on the Nexo Platform and in the Nexo Account, in case of a positive Nexo Points balance, Participants may redeem the relevant amount of Airdrop Tokens from the Airdrop corresponding to the number of Nexo Points, as indicated in their Nexo Account, and in accordance with the present General Terms and any limitations, specified on the Nexo Platform. You cannot redeem partially the Airdrop Tokens, while requests for cash or other rewards are restricted and shall not be accepted.
    2. You are responsible for redeeming your Airdrop Tokens from the Airdrop within the Airdrop Redemption Period set by Nexo. Upon the expiration of the Airdrop Redemption Period you will no longer be able to redeem Airdrop Tokens from the Airdrop, respectively your Nexo Points will be demised and no longer visible in your Nexo Account.

    VI. RISK DISCLOSURE

    1. You should examine your financial resources and risk tolerance to determine whether the Nexo Points Hunt is appropriate for you. Digital Assets are more volatile relative to most fiat currencies and other assets, and this unpredictability of their price may result in significant losses over a short period of time. We are not responsible for the Digital Assets market, and we make no representations or warranties concerning the real or perceived value of any Digital Assets and the quality, suitability, truth, usefulness, accuracy, or completeness of any data provided by Nexo. You shall, therefore, carefully consider whether holding Digital Assets is suitable for you in light of your financial condition.
    2. Digital Assets are not money or legal tender, are not backed by the government or by a central bank and mostly do not have any underlying assets, revenue stream, or another source of value.
    3. The receipt of Digital Assets as a result of a distribution of Airdrop by Nexo or by means of your redeeming the Airdrop Tokens from the Airdrop, each as part of the Nexo Points Hunt, may constitute a taxable event in your jurisdiction. By participating in the Nexo Points Hunt, you understand and agree that the value of the Airdrop Tokens may be taxable to you as income by your local tax authority. All federal/national, state/provincial, and local tax liability and any other costs and expenses associated with acceptance or use of the Airdrop Tokens are solely the Participant’s responsibility.
    4. The regulatory status of Digital Assets is currently unsettled, varies among jurisdictions and is subject to significant uncertainty. Legislative and regulatory changes or actions relating to Digital Assets or blockchain technology at a state or national level may adversely affect or restrict, as the case may be, the use, transferability, exchange and value of the Digital Assets, as well as the provision of the Nexo Points Hunt, the related Nexo Services or any of them. The value of the Digital Assets may be derived from the continued willingness of market participants to exchange fiat currencies for Digital Assets, which may result in permanent and total loss of value of a particular Digital Asset should the market for it disappear.
    5. The nature of Digital Assets may lead to an increased risk of fraud or cyberattacks, and any losses due to fraudulent or accidental transactions will likely not be recoverable.
    6. Keep in mind that we do not provide investment advice, and the information coming from Nexo shall not be used as a basis for making decisions about investing in a particular Digital Asset.
    7. YOU ARE RESPONSIBLE FOR DETERMINING WHETHER THE NEXO POINTS HUNT AND THE RESULTING AIRDROP ARE LEGAL IN YOUR JURISDICTION, AND YOU SHALL NOT PARTICIPATE IN THE NEXO POINTS HUNT OR REDEEM THE AIRDROP TOKENS SHOULD SUCH PARTICIPATION OR HOLDING NEXO TOKENS BE ILLEGAL IN YOUR JURISDICTION. IF YOU ARE UNCERTAIN, PLEASE SEEK INDEPENDENT LEGAL ADVICE.
    8. We may be forced to suspend, discontinue, or change aspects of the Nexo Points Hunt in any jurisdiction, without notice, if demanded by the regulators or Applicable Law, or for whatever other reason. In such a case, we may, without liability to you, be prevented from distributing any Airdrop Tokens.
    9. You understand and agree that you use the Nexo Account, engage in the Eligible Transactions, respectively, in Rebalancing Transactions and participate in the Nexo Points Hunt at your own risk. This section is not exhaustive and does not disclose all the risks associated with the Digital Assets and the use of the related Nexo Services. You shall, therefore, carefully consider whether such use is suitable for you in light of your circumstances and financial resources.

    VII. LIMITATION OF LIABILITY

    1. THE NEXO POINTS HUNT IS PROVIDED ‘AS IS’ AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED, OR STATUTORY, TO THE SUITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE OF THE AIRDROP, EXCEPT AS EXPRESSLY PROVIDED IN THESE GENERAL TERMS, TO THE EXTENT PERMITTED BY APPLICABLE LAW. NEXO DISCLAIMS ALL OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, MADE TO YOU, YOUR AFFILIATES OR ANY THIRD PARTY, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES REGARDING THE QUALITY, SUITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE OF ANY SERVICE OR ANY GOODS PROVIDED INCIDENTAL TO THE NEXO POINTS HUNT UNDER THESE GENERAL TERMS. NEXO'S LIABILITY IN RESPECT OF THE REPRESENTATIONS AND WARRANTIES, WHICH CANNOT BE EXCLUDED, IS LIMITED TO ANY OF THE FOLLOWING OPTIONS CHOSEN BY NEXO AT OUR SOLE AND ABSOLUTE DISCRETION:

      1. RE-SUPPLYING, REPLACING OR REPAIRING THE NEXO POINTS HUNT IN RESPECT OF WHICH THE BREACH OCCURRED; OR
      2. PAYING THE COST OF THE RE-SUPPLYING, REPLACEMENT OR REPAIRING OF THE NEXO POINTS HUNT IN RESPECT OF WHICH THE BREACH OCCURRED.

    2. NOTWITHSTANDING ANY PROVISIONS IN THESE GENERAL TERMS, IN NO EVENT SHALL WE OR ANY OF OUR REPRESENTATIVES OR PARTNERS BE LIABLE TO YOU FOR ANY LOSSES, DAMAGES OR CLAIMS:

      1. DUE TO AN UNUSUAL OR UNFORESEEABLE EVENT OUTSIDE OUR REASONABLE CONTROL, THE CONSEQUENCES OF WHICH COULD NOT HAVE BEEN AVOIDED EVEN IF ALL DUE CARE HAD BEEN EXERCISED (E.G. FORCE MAJEURE, INCLUDING ACTS OF GOD, WAR OR CIVIL UNREST, DISASTERS, ACTS OF DOMESTIC OR FOREIGN COURTS AND GOVERNMENTAL AUTHORITIES, STRIKES, LOCKOUTS, LABOUR DISPUTES, TERRORIST ACTS, RIOTS);

      2. ARISING FROM OR IN CONNECTION WITH:

        1. ANY DELAY, SUSPENSION, DISCONTINUATION, OR INTERRUPTION OF THE NEXO PLATFORM OR THE NEXO POINTS HUNT;
        2. FAILURE OR INTERRUPTION IN PUBLIC OR PRIVATE TELECOMMUNICATION NETWORKS, COMMUNICATION CHANNELS OR INFORMATION SYSTEMS;
        3. ACTS OR OMISSIONS OF ACTS OF A PARTY FOR WHOM WE ARE NOT RESPONSIBLE;
        4. DELAY, FAILURE OR INTERRUPTION IN, OR UNAVAILABILITY OF, THIRD-PARTY SERVICES;
        5. ANY REFUSAL TO PROCESS OR AUTHORIZE, OR ANY REVERSAL OF, ANY TRANSACTION FOR ANY REASON;
        6. YOUR INABILITY TO EFFECT OR COMPLETE ANY TRANSACTION DUE TO SYSTEM MAINTENANCE, BREAKDOWN OR NON-AVAILABILITY OF THE NEXO PLATFORM OR THE NEXO POINTS HUNT;
        7. ANY UNAUTHORIZED OR INELIGIBLE USE OF THE NEXO POINTS HUNT CONTRARY TO THESE GENERAL TERMS;
      3. DUE TO COMPLIANCE WITH ANY APPLICABLE LAW, COURT ORDERS OR ACTS OF ANY GOVERNMENTAL AUTHORITY;
      4. RESULTING FROM HACKING, TAMPERING, COMPUTER VIRUS TRANSMISSION, OR OTHER UNAUTHORIZED ACCESS OR USE OF THE NEXO POINTS HUNT, YOUR NEXO ACCOUNT OR ANY INFORMATION CONTAINED THEREIN.
    3. NOTWITHSTANDING ANY PROVISIONS IN THESE GENERAL TERMS, IN NO EVENT SHALL WE BE LIABLE TO YOU FOR ANY TYPE OF INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOST REVENUE, LOST PROFITS, REPLACEMENT GOODS, LOSS OF TECHNOLOGY, LOSS OF DATA, OR INTERRUPTION OR LOSS OF USE OF SERVICE OR EQUIPMENT, REGARDLESS OF WHETHER SUCH DAMAGES BEING DIRECT OR INDIRECT, FORESEEABLE OR UNFORESEEABLE, OR EVEN IF YOU HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND WHETHER ARISING UNDER THEORY OF CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.
    4. IN NO EVENT WILL OUR AGGREGATE LIABILITY FOR ANY LOSS OR DAMAGE ARISING IN CONNECTION WITH THE NEXO POINTS HUNT AND THESE GENERAL TERMS EXCEED THE FEES YOU PAID TO NEXO DURING YOUR PARTICIPATION IN THE NEXO POINTS HUNT DURING THE 12-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT, GIVING RISE TO THE CLAIM FOR LIABILITY, IF ANY. THE ABOVE SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY THE RELEVANT APPLICABLE LAW.
    5. WE SHALL NOT BE LIABLE FOR ANY FAULT ON THE PART OF ANY THIRD-PARTY SERVICE PROVIDER INSTRUCTED BY US. IN ANY SUCH CASES OUR LIABILITY WILL BE LIMITED TO USING REASONABLE CARE IN THE SELECTION, APPOINTMENT AND INSTRUCTION OF SUCH THIRD-PARTY SERVICE PROVIDERS (BUT NOT OF ANY SUB-CONTRACTOR OR OTHER THIRD PARTY SUCH A THIRD-PARTY SERVICE PROVIDER MAY USE).
    6. NOTHING IN THESE GENERAL TERMS SHALL OPERATE TO LIMIT OR EXCLUDE ANY LIABILITY FOR FRAUD OR GROSS NEGLIGENCE.

    VIII. TERMINATION. DISQUALIFICATION

    1. Nexo reserves the right, at its sole discretion, to cancel, terminate, modify or suspend the Nexo Points Hunt 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 Nexo Points Hunt.
    2. Nexo reserves the right, at its sole discretion, to disqualify, revoke or deny the dispersal of Airdrop Tokens and Airdrops in general, block access to products, or exclude from future campaigns any Client who tampers or attempts to tamper with the entry process or the operation of the Nexo Points Hunt or violates these General Terms or the Nexo Services General Terms and Conditions, or the terms of any Nexo Service. Nexo has the right, at its sole discretion, to maintain the integrity of the Nexo Points Hunt, including, but not limited to, the use of bots, macros, scripts, or other technical means for entering. Any attempt by a Client to undermine the legitimate operation of the Nexo Points Hunt 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.

    IX. NOTICES

    1. Any notice required or made under these General Terms from Nexo to the Client shall be considered validly received when addressed to the Client’s last used e-mail address, mailing address or phone number. Additionally, we may provide notices through posting on the Nexo Platform.
    2. Any notice required or made under these General Terms by the Client to Nexo shall only be made via e-mail in English to [email protected].
    3. Nexo shall have no liability for any Client’s failure to receive notices therefrom regarding the Nexo Points Hunt due to spam, junk e-mail or other security settings or any Client’s provision of incorrect or non-functioning contact details.

    X. GOVERNING LAW AND JURISDICTION

    1. The Agreement shall be governed exclusively by the substantive law of the Cayman Islands.
    2. Any dispute arising out of or in connection with the Agreement (the General Terms), unless amicably settled between the Parties, shall be referred to the competent court in the Cayman Islands, determined as per the procedural law of the Cayman Islands. You agree that any dispute resolution proceeding subject to the Applicable Law under the preceding sentence shall be conducted only on an individual basis and not as a plaintiff or class member in any purported class, consolidated or representative action or proceeding. No court or other dispute resolution authority can consolidate or join more than one claim and can otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded cannot affect other Clients of Nexo.

    XI. MISCELLANEOUS

    1. This Agreement, together with the Nexo Services General Terms and Conditions and the Privacy Policy, represents the entire agreement between you and Nexo in relation to your participation in the Nexo Points Hunt. Unless otherwise agreed, it supersedes all prior or current representations, statements, understandings, agreements, or communications between you and Nexo, its affiliates, third-party service providers, each of their respective employees, officers, directors and representatives, whether written or verbal, regardless of the communication channel. 
    2. Nexo shall reserve its right to amend or supplement these General Terms from time to time. Any such amendments or supplements shall become valid and in full force as of the date of their publishing on the Nexo Platform unless otherwise indicated. You shall regularly check the Nexo Platform to inform yourself about any such amendments or supplements. By continuing your participation in the Nexo Points Hunt after any such amendments or supplements have taken effect, you thereby indicate your acceptance of the amended or supplemented General Terms.
    3. The descriptive headings in these General Terms are inserted for convenience only and shall not affect the interpretation of this Agreement.
    4. The invalidity of the whole or part of any provision of these General Terms shall not affect the validity of the whole or part of any other provision of these General Terms. The remaining provisions of these General Terms shall remain in full force and effect.
    5. The failure by Nexo to exercise or enforce any right or provision of these General Terms shall not constitute a present or future waiver of such right or provision.
    6. None of your rights and obligations arising out of the Agreement are assignable or transferable without the prior written consent of Nexo. Nexo shall reserve the right to assign, delegate or transfer this Agreement and the rights and obligations hereunder to any third party at any time without notice or your consent.
    7. Any issues which are not settled hereby shall be governed by the Nexo Services General Terms and Conditions. In case of any discrepancies between the present General Terms and the Nexo Services General Terms and Conditions, these General Terms shall prevail.