Rules of Nexo Borrow Prize Pool Promo
1. General Rules
1.1 The Nexo Borrow Prize Pool Promo (hereinafter referred to as “the Promo”) shall be conducted within the period from 00:00 UTC on December 5, 2023, until 23:59 UTC on December 31, 2023 (“the Promo Period”).
1.2 The organization 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, and the Nexo Crypto Credit General Terms (“General Terms”), available on the Nexo Platform.
2. Right of Participation
2.1. Clients, who comply with the Rules and the General Terms, have not previously been granted a Nexo Crypto Credit and are not (i) citizens or residents of the USA, or (ii) 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 Participants need to take one or more Nexo Crypto Credits, with the equivalent of at least USD 500, before the end of the Promo Period. Each Nexo Crypto Credit shall be taken into consideration based on the USD value at the time of its granting, as indicated in the transaction history in the Nexo Account, where the cumulative amount of Digital Assets received as a Nexo Crypto Credit shall be used to determine the eligible entries for the reward draw (“Promo Eligible Amount”).
3.2 Interest accrued during the Promo Period, as well as all Nexo Crypto Credits granted under usage of Nexо Card, utilising the Nexo Booster or Nexo Futures Product, the Nexo Pro Crypto Credit or the Nexo Margin Crypto Credit, shall not be considered part of the Promo Eligible Amount.
4.1. The Promo comprises twenty (20) rewards (“the Rewards”) at the total amount of USD 20,000 and will be paid in NEXO tokens, based on the daily average market price on December 31, 2023. Subject to fulfilling all requirements stated in Article 3, the winning Participant (separately referred to as “Winner” and collectively as “Winners”) shall receive only one Reward (“Applicable Reward”), which shall be transferred to their Nexo Account.
4.2 The selection will occur in a series of rounds, and Rewards will be awarded sequentially to randomly selected Winners in the order in which they were chosen. Each selected Winner will be eligible to receive the Applicable Reward designated for their respective position.
4.3 All Applicable Rewards will be paid out by January 19, 2024.
4.4 Requests for cash or another reward substitution (including Digital Asset’s type), as well as requests for transfer or assignment of the reward to third parties, shall not be allowed, nor considered by Nexo.
4.5 The Winner shall be fully and solely responsible for (i) any and all reward-related expenses, including without limitation any and all federal, state, and/or local taxes, any fees or sanctions imposed in this regard; (ii) ensuring his/her compliance with any and all applicable federal, state, and local laws and regulations in regard to the reward receipt.
5. Winners Selection and Notification
5.1. The Winners will be randomly selected by Nexo from all entries eligible for the Promo in multiple rounds with specific rewards attached to each round, where the Promo Eligible Amount, divided by 500 and rounded down to the nearest whole number, shall indicate each Participant's eligible entries. There is no limit on the number of entries one Participant can obtain under the previous sentence.
5.2 The Winners will be announced on Nexo’s social media accounts no later than January 19. Additionally, Winners will be notified via e-mail once their Rewards are available in their Nexo Account.
5.3 Nexo shall have no liability for the Winner’s failure to receive notices due to spam, junk e-mail or other security settings or for the Winner’s provision of incorrect or non-functioning contact information. Nexo shall have no liability or responsibility in case the event is cancelled, changed or modified, regardless of any reason.
ANY VIOLATION OF THE RULES BY THE WINNER WILL RESULT IN THE WINNER’S DISQUALIFICATION AS A WINNER OF THE PROMO.
6. Rights Granted by the Participants
6.1. By entering the Promo, Participants declare full and unconditional consent and agree that Nexo shall have the right, where permitted by law, to print, publish, broadcast, distribute, and use in any media, in perpetuity and throughout the world, without limitation, the Winner’s entry, name, image in social media and networks, social media likeness and followings, statements about the Promo, and any information visible in social media profiles, without any further compensation, notice, review or consent.
7. Rights Reserved by Nexo
7.1. 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.
7.2 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.
8.1. Nexo, at its sole discretion, at any time during the Promo Period or otherwise, can amend the Rules.
8.2 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.
8.3 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.
8.4 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.
8.5 By entering the Promo, the Participants declare that they have reviewed, accepted, and consented to all terms and conditions of the Rules.