Rules of Referral Borrow Campaign
1. General Rules
1.1. The Referral Borrow Campaign (hereinafter referred to as “Referral Borrow Campaign”) shall be conducted within the period from 14:00 UTC on December 5, 2024, until 14:00 UTC on January 31, 2025 (hereinafter referred to as “the Referral Borrow Campaign Period”) and shall be communicated personally by email announcement and on the Nexo Platform (“Nexo’s Channel”).
1.2. The organisation and conduct of the Referral Borrow Campaign, 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 Crypto Credit General Terms and Conditions (“General Terms”), available on the Nexo Platform.
2. Definitions
2.1. “Referring Participant” shall mean a client of Nexo, who has at the beginning of the Campaign Period a designated Account Manager and/or а Portfolio Balance with USD value of their Digital Assets in the range predefined internally by Nexo, who invites a Referred Participant to participate in the Referral Borrow Campaign by sending them the referral link.
2.2. “Referred Participant” shall mean an individual who has not previously opened a Nexo Account and is invited by the Referring Participant to participate in the Referral Borrow Campaign through the referral link.
3. Right of Participation
3.1. Clients who comply with the Rules and the General Terms and are not (i) citizens or residents of the USA, or (ii) residents of Canada, UK, Turkey, Belarus, the Russian Federation, or any other jurisdictions where we have restricted our services and are part of a preselected eligible group with indicated promo offer on the Nexo Platform and in their Nexo Accounts can participate in the Referral Borrow Campaign (separately referred to as “Participant”, and collectively as “Participants”).
3.2. By participating in the Referral Borrow Campaign, 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 Referral Borrow Campaign.
4. Mechanism
4.1. Both the Referring Participants and the Referred Participants shall receive a Referral Reward as stated in Art. 5 when the Referred Participant has met cumulatively the following requirements:
4.1.1. registered their Nexo Account following the referral link received from a Referring Participant;
4.1.2. completed their Identity Verification on the Nexo Platform;
4.1.3. executed one or more borrowing transactions at the amount equal to or above USD 100,000 in digital assets utilizing the Nexo Crypto Credit, Nexo Booster, Portfolio Booster, and/or Custom Loans within 90 days of completing the registration process under Art. 4.1.1 and 4.1.2. (“the Borrowing Period”);
4.2. Nexo reserves the right to disqualify, revoke, or deny any Reward in the following, but not limited to, cases:
4.2.1. Referred Participants have received internal transfers from other Nexo Accounts during the Referral Borrow Campaign Period and Borrowing Period, including but not limited to internal transfers of digital assets to serve as collateral.
4.2.2. Referred Participants with accounts with LTV 70% and above have used the borrowed digital assets as collateral for subsequent borrowing transactions.
5. Reward
5.1. Both the Referring Participants and the Referred Participants shall receive a reward in the amount of 1 % of the total borrowed amount during the Borrowing Period payable in BTC based on the current market price at the date of the payment (“the Referral Reward”) which shall be transferred into their Nexo Account.
5.2. All Referral Rewards will be paid out at the end of the respective Borrowing Period.
5.3. Requests for cash or another reward substitution and requests for transfer or assignment of the rewards to third parties shall not be allowed nor considered by Nexo.
6. Rights Reserved by Nexo
6.1. Nexo reserves the right, at its sole discretion, to cancel, terminate, modify or suspend the Referral Borrow Campaign should virus, bug, non-authorized human intervention, fraud, or other cause beyond Nexo’s control corrupts or affects the administration, security, fairness, or proper conduct of the Referral Borrow Campaign.
6.2. Nexo reserves the right, at its sole discretion, to disqualify, revoke, or deny the Referral Rewards, block access to products, or exclude from future Referral Borrow Campaign offers any client who tampers or attempts to tamper with the entry process or the operation of the Referral Borrow Campaign, 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 Referral Borrow Campaign, 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 Referral Borrow Campaign 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.
7. Others
7.1. Nexo, at its sole discretion, at any time during the Referral Borrow Campaign Period and/or the Borrowing Period or otherwise, can amend the Rules.
7.2. 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.
7.3. Nexo shall have no liability for any Participant’s failure to receive notices therefrom regarding the Referral Campaign 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 Referral Reward.
7.4. All relations between Nexo and the Participants will be governed by the Rules and the General Terms and the applicable law, as defined by the General Terms.
7.5. By entering the Referral Borrow Campaign, the Participants declare that they have reviewed, accepted, and consented to all terms and conditions of the Rules.