CoinLion Private Beta and LION Token Giveaway Campaign Terms and Conditions
It is CoinLion, LLC’s (“CoinLion”, “We”, or “Our”) desire to provide a robust and secure cryptocurrency trading platform. To ensure this, CoinLion will provide a select early access (“Beta”) use of CoinLion’s trading platform. We intend to complete this objective via the LION Token Referral Campaign (“Referral Campaign”). The Referral Campaign is a referral-based marketing campaign designed to attract signups for the Beta.
1.1.CoinLion will utilize two tools to accomplish the desired Beta participant population:
Prize Pool- CoinLion will award the leading LION Token Referral Participants (“Participant”, “User”, or “You”) with LION. Further details below.
Beta Waitlist Tracker- Participants will receive their placement on the Beta watchlist; lower number positions will make up the Beta pool. Further details below.
1.1 To participate You will provide your unique email to be used with your CoinLion account (both for the Beta and the fully launched platform). You will then send referrals to other potential participants. For each of the new participants who also sign up and participate you will be credited one referral, known as a successful referral.
Successful referrals serve two purposes. First, each successful referral gives the user one entry into the prize pool. At the completion of the LION Token Referral Campaign the winners will be drawn from the pool signups. While the number of referrals does not guarantee Participants a prize it does increase the likelihood of winning the Prize Pool drawing.
Additionally, the number of referrals can guarantee Participants a place in the platform Beta (subject to other criteria / restrictions / determinations). CoinLion will select Participants with the most referrals (represented with lower number on the watchlist) to receive access to the CoinLion platform Beta.
3.1 Timeline. The LION Token commences Thursday, August 16, 2018 and will concludes at CoinLion’s discretion. The primary concern is to optimize the Beta experience and feedback for CoinLion development. The Prizes will be selected from the Prize pool after the launch of the full CoinLion platform. CoinLion will distribute the prizes after results have been verified. February 1, 2018 is the estimated distribution date [date is subject to change].
3.2 Beta. The CoinLion Platform Beta will primarily be used by CoinLion as a final test environment for the CoinLion Platform. It is the intention of CoinLion for the Beta to provide a live cryptocurrency trading experience as close to the full CoinLion platform as possible. While CoinLion intends to have all platform functions and tools available to Beta participants it is CoinLion’s discretion to limit functionality and limit number of Beta participants.
3.3 Watchlist. The LION Token Referral Campaign watchlist is a tracking tool so Referral Campaign participants can monitor their position, and thereby their likelihood to be selected, from the Watchlist. Users will receive a referral for each additional Participant sign up CoinLion receives from User’s referral requests. For each referral User will increase their likelihood of Beta selection. At the end of the Token Referral Campaign CoinLion will select a number, to be determined at a later date, of Referral Campaign Participants to participate in the Beta. CoinLion’s selection process will be to select the users with the lowest number on the watchlist track whom comply with all LION Token Referral Campaign requirements.
3.4 Prize Pool. Each referral presents the Participant an individual opportunity to win. For each successful referral made a user’s email will be entered into the prize pool. CoinLion will select four winners: One (1) Grand Prize Winner and Three (3) Second Place Winners. The Grand Prize Winner is based upon participation milestones:
- 1,000 ≤ successful referrals = 10,000 LION
- 5,000 ≤ successful referrals = 50,000 LION
- 10,000 ≤ successful referrals = 100,000 LION
- 25,000 ≤ successful referrals = 250,000 LION
- 50,000 ≤ successful referrals = 500,000 LION
- 100,000 ≤ successful referrals = 1,000,000 LION
The Second Place Winners will receive equal to 15% of the LION prize amount awarded
3.5 Restrictions. User can only participate with one email. Participates found to be participating via multiple emails may be eliminated from participation in the Beta and denied prizes if selected from the Prize Pool.
If Participants are selected for either the Beta or a prize from the Prize Pool the user will be required to be verified via BSA / AML Know Your Customer Standards (KYC). Thus, users will be denied Beta participation and / or prize selection if they cannot provide and have verified: first and last name, address, email (same one used for the Referral Campaign), and date of birth. In some case, additional verification information will be required e.g. “selfie” picture, copy of State provided Identification, phone number, etc.
4.0 NO WARRANTIES AND LIMITATE OF LIABILITY
4.1 The LION Tokens distributed as result of the LION Token Referral Campaign are provided on an “as is” basis and without any warranties of any kind, either expressed or implied. You assume all responsibility and risk with respect to Your use of the CoinLion Website and participating in the LION Token Referral Campaign.
4.2 You hereby expressly agree that, to the maximum extent permitted by law, CoinLion or its Affiliates do not accept any liability for any damage or loss, including loss of business, revenue, or proﬁts, or loss of or damage to data, equipment, or software (direct, indirect, punitive, actual, consequential, incidental, special, exemplary or otherwise), resulting from any participation in the LION Token Referral Campaign or use of, or inability to use, this Website or the material, information, software, facilities, services or content on this website, or their use by the User, regardless of the basis, upon which the liability is claimed.
4.3 You understand and agree that CoinLion and any of its Affiliates shall not be held liable to and shall not accept any liability, obligation, or responsibility whatsoever for any change of the value in any cryptocurrency traded within the platform. CoinLion shall not provide to the User any compensation for any losses, nor shall you have any expectation to the contrary.
4.4 You understand and agree that it is Your obligation to ensure compliance with any legislation relevant to Your city, state, providence, and / or country of domicile concerning participation in the LION Token Referral Campaign or use of this Website, and that CoinLion will not accept any liability for any of Your illegal or unauthorized participation in the LION Token Referral Campaign or use of this Website.
4.5 CoinLion does not warrant or represent that any information on the Website is accurate or reliable or that the Website will be free of errors or viruses, that defects will be corrected, or that the service or the server that makes it available is free of viruses or other harmful components. CoinLion shall not be liable for uninterrupted availability of the Website at any times for any duration, in any or all countries or geographic locations, or at any given time.
4.6 You understand and agree that CoinLion is not obligated to complete or finish the LION Token Referral Campaign. You understand and agree that CoinLion intends to complete the Referral Campaign distribution as detailed, but that due to the risks associated with cryptocurrency and the digital tokens market, including, but not limited to regulatory or technical restrictions and those outlined in 6.0. DISCAIMERS section of this agreement and the Section 7. Disclaimers of the Terms and Conditions, this may not be feasible.
4.7 Receipt / award of LION Tokens does not present an exchange of cryptocurrencies for any form of ordinary shares, and the holder of any Tokens, is not entitled to any guaranteed form of dividend or other revenue right. Holders of LION Tokens are only entitled to the utility of the LION Token for unique and limited use on the CoinLion platform.
4.8 You understand and agree neither CoinLion nor any of its Affiliates shall not be held liable to and shall not accept any liability, obligation, or responsibility whatsoever for any “missed opportunity” to participate or to receive referrals because of CoinLion’s discretional end / completion of the Referral Campaign.
4.9 You understand and agree neither CoinLIon nor any of its Affiliates shall not be held liable to and shall not accept any liability, obligation, or responsibility whatsoever for Participants denial of Beta access or prize distribution based upon unverified KYC information, and you further understand and agree CoinLion and any of its Affiliates shall not be held liable to and shall not accept any liability, obligation, or responsibility whatsoever for the KYC information being unverified as CoinLion is under no obligation to verify your KYC information.
5.1 CoinLion cannot and does not guarantee market liquidity for Tokens. You expressly acknowledge and represent that You fully understand that they may experience volatility in pricing and will not seek to hold the CoinLion liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to the CoinLion platform.
5.2 The use of Tokens carries with it a number of risks, e.g. malfunction of the Ethereum protocol and risk of hacks. You should carefully consider the risks listed herein and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the risks are unacceptable to You, You should not participate in the Referral Campaign.
5.3 CoinLion and its respective development team do not support any unfair or fraudulent practices and conﬁrm their intention to develop, complete, and launch the CoinLion Platform and to complete the LION Token Referral Campaign through distribution. However, KYC verification presents case by case burdens, and CoinLion reserves the right and ability to not successfully verify a User’s KYC information. Lack of Verification does not have any meaning or determination beyond CoinLion’s lack of ability to provide services, including, but not limited to, participation in the Beta and Prize distribution, to the unverified Participant.
5.5 CoinLion will take reasonable steps to exclude any viruses from the Website, but cannot guarantee or warrant that any material available for downloading from the Website will be free from infection, viruses, or other code that has contaminating or destructive properties. By using the Website, You acknowledge and understand this risk and agree to not hold the Owner liable for viruses.
5.6 Security measures have been implemented to ensure the safety and integrity of any of the services related to the LION Token Referral Campaign. However, despite this, information that is transmitted over the internet or Blockchain may be susceptible to unlawful access and monitoring.
5.7 You agree the LION Token Referral Campaign does not constitute an offer or solicitation to distribute shares or securities.
5.8 CoinLion does not warrant or guarantee that LION Tokens will be listed or made available for exchange for other cryptographic tokens or ﬁat money, and no guarantees are given whatsoever with the capacity (volume) of such potential exchange. It shall be explicitly cautioned, that such exchange, if any, might be subject to regulatory oversight, and We do not give any warranties in regard to any exchange service providers. User acknowledges it may not be able, at a given time, to acquire or dispose of its Tokens due to potential lack of liquidity.
6.0 Applicable Law and Dispute Resolution
6.1 All questions concerning the construction, validity, enforcement, and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the laws of the State of South Dakota, United States of America.
6.2 To resolve any dispute, controversy, or claim between them arising out of or relating to this Agreement, or the breach thereof, the Parties agree ﬁrst to negotiate in good faith for a period of not less than sixty (60) days following written notiﬁcation of such controversy or claim to the other Party.
6.3 If the negotiations do not resolve the dispute, controversy, or claim to the reasonable satisfaction of all Parties during such period, then the Parties irrevocably and unconditionally submit the respective claim to the binding arbitration in accordance with the American Arbitration Association rules, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Except for any disputes, claims, suits, actions, causes of action, demands, or proceedings in which either Party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets, or patents, You and the Owner (a) waive Your and Owner’s respective rights to have any and all disputes arising from or related to these Terms resolved in a court, and (b) waive your and Owner’s respective rights to a jury trial. The substantive law shall be South Dakota Law (including all other operating rules, policies, and procedures that may be issued by the Website Owner and published from time to time on the Website), without regard to conﬂict of law rules or principles (whether of the State of South Dakota or any other jurisdiction). The language of the arbitration shall be English.
7.1 Termination and Suspension. Notwithstanding anything contained herein, CoinLion reserves the right, without notice and at our sole discretion, to terminate these Terms or suspend your right to access the Website, including, but not limited to, in case of your breach of these Terms, or if CoinLion believes you have committed fraud, negligence, or other misconduct. You may terminate these Terms without notice by discontinuing use of the Website and with written notice of the termination. All rights granted to You under these Terms will immediately be revoked upon our termination of these Terms or Our suspension of Your access to the Website. In the event of any Force Majeure Event (as deﬁned in “Miscellaneous” Section of the Terms and Conditions), breach of this agreement, or any other event that would make it commercially unreasonable for the CoinLion Platform to operate, we may, in our discretion and without liability to You, with or without prior notice, suspend Your access to all or a portion of our services/Website. We may terminate Your access to the Website in our sole discretion, immediately, and without prior notice, and delete or deactivate Your Account and all related information and ﬁles in such Account without liability to You.
7.3 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants, and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired, or invalidated, and the parties hereto shall use their commercially reasonable efforts to ﬁnd and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant, or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants, and restrictions without including any of such that may be hereafter declared invalid, illegal, void, or unenforceable.
7.4 Communication and notices. Any communication concerning the Terms’ execution or violation should be conducted only via email of the User and through the Owner’s contact form on the Website. The User’s official email for communication shall be deemed the email speciﬁed by the User during the Account registration process. The one and only language of the communication shall be English. We may provide any notice to You under this Agreement by: posting a notice on the Website; or (ii) sending an email to the email address then associated with Your account. Notices We provide by posting on the Website will be effective upon posting and notices We provide by email will be effective when We send the email. It is Your responsibility to keep Your email address current. You will be deemed to have received any email sent to the email address then associated with Your account when We send the email, whether You actually receive or read the email.
7.5 Tax Issues. The Owner makes no representations concerning the tax implications of the LION Tokens, the receipt / award of them, or the possession / use / subsequent sale of them. The User bears the sole responsibility to determine if receipt / award of the Tokens has tax implications for the User in the User’s home jurisdiction. By participating in the LION Token Referral Campaign, and to the extent permitted by law, the User agrees not to hold the Owner liable for any tax liability associated with or arising from the receipt / award of Tokens. All receipt / award of LION Token via the Referral Campaign is exclusive of any taxes, and shall certain taxes be applicable, they shall be assumed, determined, and paid by You.
7.6 Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections. All the sections in the agreement shall survive any termination or expiration of these Terms.
Intellectual property Notification: This document belongs to the Owner and is protected by copyright laws. Its copying or use by any third party in full or in part without prior written consent of the Owner is strictly prohibited.
CoinLion Private Beta and LION Token Giveaway Campaign Publication Date: August 15, 2018