BITBOX Team published distribution policy for LINK, this news was published last September 5 after several revisions.
Revised policy on LINK distribution
We are applying a new distribution policy for LINK, as detailed below, in order to ensure LINK rewards reach more users and to prevent the excessive trading of certain digital tokens.
Period : 2018.09.06 03:00:00 UTC ~ 2018.09.30 23:59:59 UTC
– Daily trading pair limit: USD 50,000 worth of LINK
– Daily user distribution limit: Increasing from USD 500 to USD 1,000 worth of LINK
– Total BITBOX daily LINK distribution limit: USD2,000,000 worth of LINK.
– Daily LINK distribution links are reset everyday at 00:00:00(UTC)
– Distributed on first come, first served basis.
– LINK Distribution status >
* Note: LINK distribution policy may be adjusted at any time in order to best protect traders and to prevent the market from overheating.
Prohibition on wash trading (including self-dealing)
BITBOX prohibits users from engaging in any act that is likely create a false or misleading appearance of active trading of digital tokens, including acting alone or in concert with other traders to conduct wash trades with no change in beneficial ownership.
When a user is believed to have breached the above terms, BITBOX reserves the right to take any action, including, but not limited to, confiscating the LINK tokens previously distributed, or suspending or cancelling the user’s BITBOX account.
In the case of inappropriate trading acts as mentioned above, BITBOX will report the instances to the relevant authorities within the jurisdiction of the Singapore courts and take any necessary actions
TERMS AND CONDITIONS
1. The LINK Distribution Promotion is organised by LINE Tech Plus Pte. Ltd. (“BITBOX”). Please read these Terms & Conditions (“Terms”) carefully. By participating in the LINK Distribution Promotion, you agree to be bound by these Terms and all terms incorporated by reference. If you do not agree to these terms then do not participate in the LINK Distribution Promotion.
2. BITBOX reserves the right to revise these Terms at any time or withdraw the LINK Distribution Promotion at its own discretion and has the final say in the case of any disputes. If we make changes, we will post the amended Terms here
3. ONLY REGISTERED USERS OF BITBOX WHO HAVE SUCCESSFULLY COMPLETED THE PASSPORT VERIFICATION PROCESS WILL BE ELIGIBLE TO PARTICIPATE IN THE LINK DISTRIBUTION PROMOTION.
4. Reward rates can differ by month. Specific rates will be posted on the 27th of every month, and applied a few days later on the first(1st) day of the next month.
5. Reward rates and maximum reward limits per account can be adjusted at any time. (BITBOX reserves the right to adjust reward limits and maximum reward limits per account at any time.)
6. Please read the Terms of Service of BITBOX carefully, as the terms and eligibility requirements apply to all participants of the LINK Distribution Promotion.
7. BITBOX reserves the right to reject any applicants if they fail to complete the passport verification process, or do not meet the eligibility requirements of BITBOX as set out in the BITBOX Terms of Service or these Terms. BITBOX’s decision will be final.
9. Please note that the passport verification process may take up to three business days to complete. Upon the completion of the passport verification process, distributions of LINK will be made directly to the user’s BITBOX wallet. BITBOX reserves the right to change the frequency and mode of distributing LINK and will not be liable in the case of any delay.
10. As LINK will be traded on BITBOX, its market value will vary depending on market trades of LINK on BITBOX. However, the minimum floor value of LINK will be US$5 when used to pay trading fees on BITBOX. The value each LINK for such trading fee payment on BITBOX will be: (i) US$5 if the real-time traded price of LINK is below US$5; or (ii) The real-time traded price of LINK. if such price is higher than US$5. Users will not be able to redeem the US$5 minimum value from BITBOX directly but will be able to use LINK for other services as described on https://link.network/.
11. With regard to trading rewards, please note that BITBOX, as part of its Terms of Service, prohibits users from engaging in any act or practice that will or is likely to create a false or misleading appearance of active trading in a digital token, including acting alone or in concert with other traders to conduct wash trades with no change in beneficial ownership. If BITBOX at its sole discretion has determined that the user may have breached these terms, BITBOX reserves the right to take any action as it determines reasonably necessary to remedy or mitigate the breach, including, but not limited to confiscating the LINK tokens previously distributed, and suspending or cancelling your BITBOX user account.
12. You may withdraw from the LINK Distribution Promotion at any time by contacting here.
13. If you have any queries about the LINK Distribution Promotion, please contact here.
14. These Terms are governed under Singapore law and all disputes are to be resolved in the exclusive jurisdiction of the Singapore courts.
1. Please read the BITBOX Risks Disclosure Statement carefully.
2. Trading in digital tokens carries a high level of risk, and may not be suitable for you. When accessing the BITBOX platform, you should consider all risks in relation to the trading of digital tokens including but not limited to the risks listed in the Risks Disclosure Statement (knowledge risk, trading risk, market and pricing risk, liquidity risk, exchange risk, delisting risk, legal and regulatory risk, security risk, technological risk, other risks relating to trading activities).
3. BITBOX is not acting as your broker, intermediary, agent or adviser in any fiduciary capacity in organising the LINK Distribution Promotion. You acknowledge that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these trading risks for you, and that BITBOX does not give advice (legal, tax, investment or other) or recommendations regarding digital tokens including the suitability and appropriateness of, and investment strategies for, digital tokens.
Thank you for using BITBOX. We look forward to continuing to work with all our users to create the best possible token ecosystem.
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