Terms & Conditions

1. Introduction

By participating in “The Launch Championship” competition (the “Competition”) you are agreeing to these terms and conditions. The competition is being run by MultiversX Labs S.R.L., a Romanian limited liability company, having its registered office at 5 Nicolaus Olahus Street, Building   B,   9th   floor,   Sibiu,   Sibiu   county, Romania, registered   with   the   Trade   Registry under no. J32/782/2018, Unique Identification Number 39424028 (hereinafter referred to as “MultiversX”).‍

2. xPortal app

xPortal is a mobile application that allows Users (the “Users” or “you” meaning all individuals, institutions or organizations that access, download or use xPortal and who meet the criteria and conditions stipulated by the terms and conditions that govern the use of the xPortal app) to conveniently access, send and receive their crypto and digital assets.

xPortal is a non-custodial wallet. This means:

1. xPortal is a decentralized wallet and you, and only you hold the private keys to your cryptocurrency wallet. This means that neither xPortal nor MultiversX is able to access your private keys without your volition and consent.
2. xPortal is a User controlled wallet so only the User has control over their funds.
3. You understand that if you lose your recovery words (and the private keys associated with it), you will not be able to access your wallet and funds.

3. Eligibility

The Competition is open to individuals who are at least 18 years old and reside in a jurisdiction where these types of competitions are legal. 

By entering the Competition, you confirm that you are eligible to do so and that you are eligible to receive any prizes that may be awarded to you. 

There is a limit of one entry per person and the Competition is completely free to enter.

4. How to Enter

To enter the Competition, participants must register with their email address at https://xPortal.com , read and accept these Terms and Conditions, confirm their phone number, and install the xPortal app after the launch of the app between the 28th of February 2023 and 14th of March 2023, 23:59 UTC. 

Participants may also increase their chances by inviting other individuals to participate in the Competition (“Referral Program”). Each invitation where the invitee becomes a player in this Competition by registering their email address at https://xPortal.com, confirming their phone number, downloading and installing the xPortal app after the launch of the app between the 28th of February 2023 and 14th of March 2023, 23:59 UTC, followed by creating a new xPortal non-custodial wallet counts as one additional entry.

The invitations sent prior to or after the Entry period (section 5) will not be taken into consideration for this Competition. 

A participant must not interfere with or disrupt the administration of the Referral Program or engage in any action that may manipulate the Referral Program. As a participant, you must refrain from:

• Making any warranties and/or representations concerning xPortal;
• Assume any obligation of any kind whether express or implied on behalf of xPortal or MultiversX;
• Use our Intellectual Property rights, except as explicitly authorized under these Terms & Conditions;
• Violating any rules, guidelines or instructions that we may convey with respect to the Terms & Conditions;
• Damaging, corrupting, tampering with, interfering with or disrupting the functionality of xPortal;
• Submitting false, inaccurate, deceptive or misleading information;
• Impersonating any person or entity, or making any false statement pertaining to your identity;
• Acting with intent to annoy, harass, or abuse any other person;
• Engaging in any activity that constitutes or encourages conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any applicable law, including laws governing securities or privacy;
• Activity deemed in the sole discretion of MultiversX to be generally inconsistent with the intended operation of the Referral Program.

MultiversX shall be the sole determiner in cases of suspected abuse, fraud, or breach of these Terms & Conditions.

5. Entry period

This Competition begins on 11th of January 2023, 12:00 UTC and ends on 28^th of February 2023, 23:59 UTC. 

6. Drawing

The winners of the Competition will be selected on 15h of March 2023, 12:00 UTC, in a live random drawing from all eligible entries received. The drawing will be conducted by the organizer of this Competition and will be final and binding.

The winner will be chosen at random and notified via the email address or phone number submitted for participating in this Competition.

MultiversX will make two attempts to contact the winner via email or phone.

7. Prizes

The prizes for the Competition are as follows: 

1. 1^st place - 400 EGLD + swag bag; 
2. 2^nd place - 250 EGLD + swag bag;
3. 3^rd place – 150 EGLD + swag bag;
4. 4^th place – 100 EGLD + swag bag; and 
5. from the 5^th place to 50^th place (inclusive) – one MultiversX hoodie for each place. 

Separate from the draw, the top 50 participants that have referred the most new users in the Referral Program during this Competition will have the right to claim the MultiversX Diamond Touch metal card free of charge, subject to passing the KYC/AML process with the card issuer.

(!) Note: one of the KYC requirements is to be a EEA (European Economic Area) citizen, meaning that the Top 50 MultiversX Diamond Touch competition will be aplicable only to EEA citizens.

The use of specific brands as prizes by MultiversX does not imply any affiliation with or endorsement of such brands.

The prize is non-transferable and non-exchangeable, meaning that a winner cannot assign the prize to someone else or request something else in exchange for the prize. Moreover, no cash alternatives will be provided, and a participant cannot win more than one prize. 

MultiversX reserves the right to substitute prizes of equal or greater value if circumstances beyond its control require doing so.

The above prizes are subject to the Romanian tax legislation, MultiversX being required to withhold and pay the related taxes depending on the country of residence of the participant who won a prize (“Winner”). However, regardless of any action MultiversX takes with respect to any or all tax-related items applicable in this matter, the Winner acknowledges that the ultimate liability for all tax-related items legally due by Winner is and remains the Winner’s responsibility and that MultiversX (1) make no representations or undertakings regarding the treatment of any tax-related items in connection with any aspect of the prizes won and/or the subsequent sale of the EGLD won in this Competition; and (2) do not commit to structure the terms of the Competition to reduce or eliminate Winners’s liability for the tax-related items applicable in this matter. The Winner authorizes MultiversX to, in the sole discretion of MultiversX, withhold all applicable tax-related items legally payable by Winner, within legal limits, and declares that will provide all the required documentation (including personal identification details) for observing the fiscal requirements.

Alternatively, or in addition, if permissible under local law, MultiversX may in its sole discretion (1) sell or arrange for the sale prizes that the Winner receive to meet the withholding obligation for the tax-related items applicable in this matter, and/or (2) withhold the prizes, provided that MultiversX only withholds the amount of the EGLD necessary to satisfy the minimum withholding amount.

Finally, the Winner shall pay to MultiversX any amount of tax-related items applicable in this matter that MultiversX may be required to withhold as a result of Winner’s participation in this Competition that cannot be satisfied by the means previously described. MultiversX may refuse to deliver prizes if a participant fails to comply with Winners’s obligations in connection with the tax-related items as described in this section.

Warranties

When participating in this Competition, you must refrain from:

• participating with multiple accounts (wallet/address) - bulk accounts are not permitted;
• interfering with, burdening or disrupting the functionality of xPortal app;
• breaching the security of xPortal app or publicly identifying any security vulnerabilities in it;
• circumventing or manipulating the operations or functionality of xPortal app, or attempting to enable features or functionalities that are otherwise disabled, inaccessible or undocumented in xPortal;
• using robots, crawles and similar applications to collect and compile content from xPortal or send data to xPortal including for the purpose of competing with xPortal, or in such ways that may impair or disrupt the xPortal app;
• displaying or embedding content from xPortal, including by any software, feature, gadget or communication protocol, which alters the content or its design;
• transferring the account on xPortal to another person;
• engaging in any type of market manipulation
• violating any applicable law

MultiversX reserves the right to disqualify users and accounts that fail to observe these Terms & Conditions.

9. Notification

The winners will be notified by email within 15 days of the live drawing. If a winner cannot be reached or does not respond within 15 days, the prize will be forfeited and an alternate winner will be selected as per section 6 of these Terms and Conditions.

10. Data Protection and Publicity

You agree that any personal information (including residential address) that you provide when entering the competition will be used by MultiversX for the purposes of administering the Competition and for the other purposes as specified in our Privacy Policy.

If requested by MultiversX, the winner agrees to release their personal identification details.

11. Third Party Platforms

When organizing this Competition, a participant may interface with third party services and platforms (“Third Party Platforms”). For example, you may “share” your activity on xPortal and invite your friends to use xPortal through social network Third Party Platforms. 

The following terms apply to services provided by Third Party Platforms:

• Use of these Third Party Platforms is governed by their respective terms of service, not by these Terms. You bear the sole and exclusive responsibility for accepting and complying with those other terms of service.
• The responsibilities, obligations and liabilities of Third Party Platforms are as indicated in their respective terms of service.

12. Intellectual property

All rights, title and interest in and to this Competition or to xPortal, including without limitation, patents, copyrights, trademarks, trade names, service marks, trade secrets and other intellectual property rights and any goodwill associated therewith (the “Intellectual Property”), are the exclusive property of MultiversX and its licensors.

You may not copy, reverse engineer, modify or create derivative works of the MultiversX’s Intellectual Property, in any way or by any means.

You may not use any name, mark, logo or domain name that is confusingly similar to our marks, logos and Internet domain names. You must refrain from any action or omission that may dilute or damage our goodwill.

13. Release 

By entering the Competition, participants release MultiversX and its affiliates from any liability arising out of participation in the Competition or the acceptance or use of the prizes. MultiversX accepts no liability for any damage, loss, injury, or disappointment suffered by any entrants as a result of participating in the Competition or being selected for a prize.

14. Governing Law

These terms and conditions and the Competition shall be governed by and construed in accordance with the laws of Romania, without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of the laws of any jurisdiction other than Romania.

15. Changes

MultiversX reserves the right to modify or cancel the Competition at any time, for any reason, and without notice.

16. Risk warning

Cryptocurrency investment is subject to high market risk. MultiversX does not provide any investment or financial advice whatsoever. We are not responsible for any direct, indirect or consequential losses as a result of this Competition. Please carry your actions with considerable caution and do not hesitate to seek the advice and guidance of qualified accountants, financial advisors, tax advisors, legal counsels or investments advisors.

17. Disputes

Any disputes arising between MultiversX and the participants will be resolved amicably. Regardless of your place of residence or where you participate in this Competition or access or use xPortal from, when an amicable settlement is not possible, the participants consent to personal jurisdiction in and the exclusive venue of the courts of Romania and expressly waive any right to object to such personal jurisdiction or the non-convenience of such forum.

18. Contact

At any time, you may contact us with any question, request, comment that you may have with respect to this Competition at legal@multiversx.com.