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Blockkoin Referral Program and Sign-Up Bonus Terms and Conditions
These Terms and Conditions ("Terms") govern the participation in Blockkoin's Referral Program and Sign-Up Bonus (collectively referred to as the "Programs"), facilitated by Blockkoin Exchange Ltd ("Blockkoin"). To partake in these Programs, users must abide by these Terms, alongside Blockkoin's established Terms of Service and Privacy Policy.
Referral Procedure
Engagement in the Programs entails inviting acquaintances to join the Blockkoin community through a unique referral link or code. The following sequential process illustrates the referral mechanism:
Step 1: Account Creation - Interested individuals are required to create a Blockkoin account.
Step 2: Identity Verification - Account holders must successfully complete the identity verification process.
Step 3: Receipt of Unique Referral Link - Following account creation and verification, participants will be furnished with an exclusive referral link.
Step 4: Referral and Earning - Participants can effortlessly share their unique referral link with friends and family. For each referred friend who registers using the link, the participant shall be rewarded with 1 locked Blockkoin.
Trading Fee Rebates
Participants in the Programs are entitled to trading fee rebates for successful referrals. The following terms elucidate this process:
Trading Fee Commissions - Commissions are granted to participants based on a 50% share of the net trading fees, after the deduction of network fees, incurred by their referred friends.
Comprehensive Calculations - These commissions encompass all trades executed by the referred friends within a specified timeframe.
Blockkoin's Legal Framework
Blockkoin Exchange Ltd functions as an authorized financial services provider, governed by the laws of the United Kingdom. Blockkoin ardently upholds compliance and the provision of secure financial services.
Sign-Up Bonus:
Blockkoin Commission
To ensure the sustainability and excellence of its services, Blockkoin applies a commission to all rewards received.
The return on investment for participants is contingent on this commission, coupled with the actual amount of Blockkoin locked. Current commission rates are accessible in the Blockkoin User Agreement.
Promotional Gift:
Newly registered users will be greeted with a promotional gift amounting to $25 worth of BK coin. This gift is intended as an initial investment and has the potential for appreciation over time.
Ownership and Locking of Blockkoin
Participants are the unequivocal owners of their Blockkoin locked assets at all times.
Blockkoin reserves the right to impose a reasonable waiting period, at its discretion, on Blockkoin locked coins before they may be converted into cash or alternative digital assets.
Blockkoin locked assets will remain locked until they reach a value of $10 or until three years have elapsed, whichever occurs first.
Rewards Balance
Blockkoin does not guarantee specific sign-up bonuses, rewards, or returns over time.
All sign-up bonuses are credited to the participant's earning balance and meticulously recorded as transactions.
A comprehensive transaction history is readily accessible within the participant's account.
Rewards Payout
Blockkoin methodically processes reward payouts from the blockchain, subject to a transparent fee deduction.
The frequency of payouts varies contingent upon the specific blockchain protocol in operation.
Risk
Blockkoin locked assets remain inaccessible until unlocked, subject to Blockkoin's sole discretion.
Potential risks encompass the possibility of loss of Blockkoin locked assets due to unforeseen events such as validator or protocol failures.
The unlocking process is subject to varying durations and is at the discretion of Blockkoin.
Detailed information pertaining to risks can be found in the Unlocking Risks documentation.
Inactive Accounts and Account Zeroing
Accounts that remain inactive for a continuous period of 12 weeks without any trade activities will be reset to zero.
Blockkoin reserves the sole right to make any changes to this offer. The duration of this offer is set for 12 weeks, commencing from the 24th of September.
Legally Designated Periods
Certain blockchain protocols may prescribe legally designated waiting periods before the unlocking of assets. These periods, though subject to variation, typically extend to a maximum of 24 days.
During the legally designated waiting period, participants continue to accrue rewards, which are duly reflected in their asset balance.
While participants may request asset unlocking at any time, Blockkoin may, at its discretion, require a written request. However, it is crucial to note that this requirement is not inviolable.
In certain instances, participants may be required to await the completion of the legally designated unbonding period of the protocol before facilitating the transfer or sale of their Blockkoin locked assets.
Blockkoin maintains a 2-day processing turnaround for such requests.
Taxation
Participants obligated to tax reporting are solely responsible for the accurate declaration of earnings from sign-up bonuses and rewards, in full compliance with local tax regulations.
Legal Safeguards and Disclaimer:
Blockkoin explicitly reserves the right to conclusively interpret and enforce these Terms.
It is imperative to recognize that Blockkoin shall not assume liability for any losses, damages, or disruptions stemming from Program participation.
Participants acknowledge the inherent risks associated with the Programs and agree to indemnify Blockkoin against any claims or liabilities arising from their participation.
Blockkoin reserves the unilateral right to amend or terminate the Programs without prior notice.
By participating in Blockkoin's Referral Program and Sign-Up Bonus, you affirm your acknowledgment and acceptance of these legally binding Terms and Conditions, in conjunction with Blockkoin's established policies. Blockkoin remains steadfast in delivering secure and compliant services, and these Terms are designed to protect the interests of both Blockkoin and its valued participants.