Infinex Craterun Contest

Terms & Conditions

By joining this event, you acknowledge and agree to the following:

• All promotions including this Craterun Contest are only available to users who are eligible to create an Infinex Account pursuant to the Infinex Terms of Use and may not be available or may be restricted in certain jurisdictions or regions or to certain users, depending on legal and regulatory requirements.
• You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of Infinex in each country/region from which Infinex is accessed.
• Infinex reserves the right to change, modify or impose additional restrictions with respect to the access to and use of the Infinex unhosted wallet services from time to time in its sole discretion at any time without notification.
• Only users who have deposited assets into their Infinex Accounts and opted into the Craterun Contest by “staking” their digital assets will be eligible for any rewards. No purchase from or payment to Infinex is necessary to participate.
• Rewards are not mutually exclusive. Users may win multiple prizes as long as they meet the relevant Terms and Conditions.
• You agree to be bound by our Terms of Use, these Terms and Conditions, and the Rules below.

Rules:

• The Craterun Contest (this “Contest”) is a game of skill in which Infinex users compete by attempting to lock in the maximum U.S. dollar (“USD”) value of the digital assets held in their Infinex Account by“Staking,” or entering into the Contest, their digital assets at specific times to maximize the amount of rewards, called “Crates,”that they receive by participating in this Contest.
• The Craterun Contest will be active for thirty-five (35) days beginning on June 25, 2024 at 00:00 UTC and ending on July 30, 2024 at 00:00 UTC.
• Users will have the ability to opt in to this Contest by Staking certain supported digital assets in their Infinex Account.
• For the purposes of this Contest, “Staking” means interacting with a smart contract that captures the USD value of those assets at the time of the interaction (such USD value, a “Staked Balance”). For clarity, Staked assets are not “staked” with Ethereum or Solana validators or subject to risk of proof-of-stake slashing penalties or otherwise put at risk in a similar system. Staked assets remain in users’ Infinex Accounts and are solely controlled by the user at all times.
• A current list of supported digital assets can be found here. Other digital assets may be added periodically throughout the Contest.
• Staked Balances are captured at the time the user Stakes. If your Staked Balance increases due to fluctuations in the price of supported digital assets, then users may Stake again to increase the USD value of their Staked assets. The USD value of the user’s Staked balance remains the same if the price of the Staked assets decreases after the user has locked in their Staked Balance.
• If a user withdraws any digital assets that it Staked at any time during the Contest, the user’s Staked Balance will be reset to zero, and any applicable Boosts (as defined below) will be forfeit.
• After a withdrawal, users have four hours from the time of withdrawal to Stake their digital assets again to reclaim any forfeit Boosts. To reclaim your Boosts, the USD value of the digital assets you Stake within this four-hour period after withdrawal must be equal to or greater than your pre-withdrawal Account Balance.
• Staked Balances earn Crates. 50% of the Crates contain randomly-selected prizes and the other 50% contain nothing. The list of available prizes is available in XIP-34.
• The amount of Crates earned is based on the Staked Balance, the time held, and the aggregate Staked Balances across the whole platform during the Contest.
• A total of five million (5,000,000) Crates will be allocated linearly, block-by-block, during the Contest and apportioned pro rata among Staked balances every block. For example, if Alice has a Staked Balance of $1.00 while Bob has a Staked Balance of $4.00 and there are ten (10) Crates allocated in an block, Alice will receive two (2) Crates and Bob will receive eight (8) Crates in that block.
• Once Crates are earned, users must “open” these Crates to determine whether they contain any prizes. All Crates must be opened within twenty-four (24) hours after the end of the Contest or else they will be forfeited.
• Crate opening will not be immediately available, but is expected to be activated within the first 7 days of the contest. You will be notified within your Infinex account once Crate opening becomes available.
• Some Crates contain “Boosts,” which increase your Staked Balance for the purposes of this Contest. Boosts are not cash prizes that can be claimed and subsequently withdrawn. If you've won a Boost, you'll see the corresponding amount is "available to stake". Stake it to apply the boost. Boosts will not be applied retroactively.
• Infinex users that participated in the Speedrun the Waitlist Contest described in XIP-18 and have not withdrawn any digital assets from their Infinex Account automatically receive a Boost of 25% applied to their Staked Balance.
• You may be given a unique referral code to refer a friend to this Contest. If you refer a friend to this Contest and your friend creates an Infinex Account using your unique referral code during the Contest, you will receive a Boost equivalent to 15% of the USD value of the digital assets your friend deposited into their Infinex Account, and your friend will receive a Boost equivalent to 5% of the USD value of the digital assets they deposited into their Infinex Account. These referral Boosts are subject to the same withdrawal penalties as ordinary Boosts. In addition, if your friend withdraws their balance before the end of the Contest, the 15% referral Boost you received will be forfeited.
• All prizes, excluding Boosts, cannot be claimed until the end of the Contest.
• These Rules are governed and enforced by blockchain-based smart contracts described in XIP-34.
• You participate in this Contest at your own risk, and disclaim Infinex of any claims, real or other, from any legal action taken by or upon you through your participation or use of any Infinex platform.
• You agree to accept any decision made by Infinex as part of the Contest. All decisions made by Infinex shall be final.
• Infinex reserves the right, at its own and complete discretion, and at any time, to modify or temporarily or permanently suspend or eliminate this or any other Infinex contest or campaign.
• This Contest is not an offer or solicitation to buy or sell any security as defined by the laws in any jurisdiction.
• Infinex reserves the sole and absolute right to disqualify any user that it deems ineligible for participation in this contest at the sole discretion of Infinex. This includes, but is not limited to, by violating any of these Terms and Conditions or having engaged in conduct that Infinex considers inappropriate or unacceptable. Infinex’s decision in such an event shall be final.
• The staking of any digital asset through this Contest carries no rights, express or implied, other than the user’s participation in this Contest.
• You must be at least eighteen (18) years of age or older and have the ability to legally form a binding agreement to participate in this Contest.
• Limitation of Liability: The total liability for Infinex relating to this Contest or any other Infinex campaign, including any claim under these terms, is limited to the amount, if any, that the user bringing the claim has paid to Infinex. To the maximum extent permitted by law, Infinex will not be responsible for lost profits, revenues, or data, financial losses or indirect, special, consequential, exemplary, or punitive damages.
• Time Limit to Bring Claims: You and Infinex both agree that any claim or cause of action arising out of or related to this Contest or any Infinex campaign must commence within six (6) months after the cause of action arose; otherwise such claim or cause of action is permanently barred.
• For more information, see the FAQs, and the How to Craterun instructions.

Important Disclaimer:

Infinex is a new and experimental on-chain unhosted wallet protocol operated in an open and decentralized fashion. You agree to assume all risk related to any bugs, errors, vulnerabilities, or exploits that may exist in the Infinex Account, whether foreseeable or unforeseeable. You acknowledge and agree that your use or interaction with Infinex is at your own risk and that Infinex waives all liability or responsibility and makes no warranties related to the Infinex Account. Digital asset prices are subject to high market risk and price volatility.

The value of your digital assets may increase or decrease, and you may not get back the amount you initially deposited into your Infinex Account due to price volatility. You are solely responsible for your decision to participate or not participate in this Contest, and Infinex is not liable for any losses you may incur. You should carefully consider your experience with blockchain technology, personal financial situation, and risk tolerance and consult an independent financial adviser prior to making any digital asset purchases. None of the content on our platform contains financial advice or advice or recommendations or any kind. Please participate responsibly.