Damex Earn
Terms & Conditions

V1.0 / Mar-06-24

  1. Damex shall, from time to time, offer Users the opportunity to opt-into a reward programme whereby the User chooses to subject their Digital Assets, which shall remain at all times under the User’s sole legal ownership, to a Lock-Up (as defined below), in return for which the User shall, under that programme, receive a fixed number of the same Digital Asset to the relevant Wallet associated with their User Account (with such opportunity being referred to as “Damex Earn”, or such other term as Damex may define from time to time, and each Damex Earn programme being referred to as a “Programme”).
  2. The Lock-Up means a specific period of time whereby a User agrees to be prevented from selling, transferring, swapping, or otherwise withdrawing a specific amount of a Digital Asset in their ownership in their relevant Wallet, whereupon that specific amount shall be expressed as “Locked Balance” as opposed to “Available Balance”, with an additional amount of that Digital Asset being rewarded to them for not redeeming the Locked Balance for the entirety of that specific period of time (“DE Reward”), and with such DE Reward expressed as an annual percentage rate (“DE Reward Rate”).
  3. The DE Reward shall be calculated as compounding on a daily basis, in that the DE Reward Rate shall apply to the Digital Assets that have accrued daily from the moment that the User has opted into a Programme until the end of the Programme.
  4. A User who opts into a Programme shall have the right to opt out from the same Programme prior to the end of the Lock-Up Period, however, upon doing so, the User shall not be entitled to receive the DE Reward offered under that Programme and the amount of the Locked Balance shall be credited to the User’s Available Balance.
  5. The material time of the dates that define a Lock-Up Period and the material time for calculating the amount of Digital Assets accrued under the DE Reward Rate for any given Programme shall be daily between 00:00 and 05:00 CET, being the settlement window. Users are permitted to enter into a Programme before 23:59:59 CET on the day immediately prior to the date that the Programme commences. The allocation of DE Rewards will be distributed within 4 hours of the daily settlement time, as well as the release of Locked Balance in the event that the Lock-Up Period has expired.
  6. Each Programme shall stipulate a total number of the relevant Digital Assets that are available to receive as DE Rewards for Users (“Available Quota”).
  7. Each Programme shall have a maximum number of the relevant Digital Assets available for a User to Lock-Up available to view on the App (“Personal Quota”).
  8. Damex reserves the right to unilaterally state or amend the DE Reward Rate, the Available Quota and the Personal Quota at any time at its sole discretion.
  9. Any DE Reward that has accrued on a daily basis shall be expressed as a credit to the relevant Wallet belonging to the User, and Damex reserves the right to remove that credit at any time whether or not a User fulfils the terms of the Programme.
  10. Upon a Programme having completed, any User that has chosen to opt-in to automatic renewal shall have the same amount of the Digital Asset as they had submitted previously to being subjected to Lock-Up being submitted again to a Lock-Up of the same period of time. The User, however, understands that the DE Reward Rate for any subsequent Programme may differ from the DE Reward Rate of the previous Programme.
  11. A User may opt-in to or opt-out of automatic renewal at any time without affecting the terms of the Programme that they have submitted Digital Assets to at the time of doing so. Any DE Reward accrued shall be credited to the User’s Available Balance as per clause 5 above regardless of whether the User has opted in or out of automatic renewal.
  12. By selecting ‘auto-renew’, a User explicitly agrees that the amount of Digital Assets that have been submitted to Lock-Up shall continue to be submitted to Lock-Up, without being withdrawn between Programmes, on the DE Reward terms of the new Programme. In the event that Damex terminates a Programme or terminates a User’s right to submit their Digital Assets, or have their Digital Assets submitted, to any Programme prior to the end date of the stated Lock-Up period, Damex shall release all amounts under Lock-Up and credit it into the User’s Available Balance.
  13. Damex reserves the right, at its sole discretion, to make any Programme or Damex Earn operation available or unavailable to any User without compensation or notice. 14. By accepting these terms and conditions, a User acknowledges and agrees that:
    1. Digital Assets submitted to any Programme by a User are subject to Damex acting as Digital Asset Custodian and during the term of any Programme, Damex does not have the capacity to manage or control the state or position of any Digital Asset beyond its abilities as Digital Asset Custodian; and
    2. they shall not use any Damex Earn Programme for any purpose other than to attempt to receive the DE Reward as stated.

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