DYOR Waitlist & Referral Program
Terms and Conditions
Last updated on: 12.06.23
DYOR (also “We”, “Us”, and similar) refers to DYOR Labs Ltd., a limited liability company incorporated in Gibraltar with company number 122170.
User means a person who has registered to the Waitlist or is a User of the Platform.
New User means a User who has not yet registered to the Waitlist or the Platform.
Contest means a competition among the Users, based on the amount of the Users’ successful referrals i.e., based on the number of Referred User sign-ups for the Waitlist via the User’s Referral Link, with the chance of competing for a part of the Referral Program Reward pool in accordance with these Referral Terms and the public announcements of DYOR.
Platform refers to the DYOR decentralised cryptocurrency exchange platform websites, including DYOR.exchange (and their respective subdomains), web applications and/or mobile applications, once any of these have been publicly launched, i.e., have been made publicly available for the purposes of being used as a decentralised cryptocurrency exchange.
Point shall mean a one-time registered credit/voucher award that may be awarded to a User subject to fulfilment of certain conditions as set in these Referral Terms.
Referrer means a User who introduces another person to be a User by a respective referral link subject to these Referral Terms.
Referee means a person to whom a Referrer sends the Referral Link.
Referred User means a person who registers himself as a User using the unique Referral Link sent by the Referrer.
Referral Link means a unique WEB link (code) in the User’s account that is to be shared with other persons in order to become New Users.
Referral Program means a DYOR system that incentivizes Users to recommend the products and services of DYOR to others through a personal invite within their own network (family, friends, and others) based on these Referral Terms.
Referral Terms means these DYOR Waitlist & Referral Program Terms and conditions.
Reward means a reward or prize according to these Referral Terms or any other public announcements of DYOR issuable to a User that is a winner of the Contest or other DYOR campaigns, subject to the fulfilment of the conditions as set in these Referral Terms.
Token means the DYOR cryptocurrency Token, as developed by DYOR, including any modifications thereto, as approved by DYOR. The token is emitted as a utility token within the DYOR ecosystem.
Token Generation Event (“TGE”) means a bona fide transaction or series of transactions, pursuant to which Tokens are made available to the general public in a publicised Token product launch. As of the date of the TGE the Tokens shall become available for purchase by the general public on a centralised or decentralised exchange or automated market-making pool.
Waitlist means the waiting list with registered entries of persons that have submitted their applications for the Waitlist leading up to the public launch of the Platform. The Waitlist serves as a part of the Referral Program and allows Users that have applied to the Waitlist to be automatically informed about updates on the Platform development, the planned Platform launch timeline as well as notification upon the launch of the Platform via the email address indicated in the Waitlist application and to refer others through a personal invite.
By Participating in the Referral Program you acknowledge that you are:
- At least 18 years old (or the legal age in the jurisdiction in which you reside necessary for you to have the legal capacity to enter into these Referral Terms and be bound by them, whichever is older); and
- Not a resident or citizen of Iran, Iraq, Libya, Belarus, Cuba, Burundi, Democratic Republic of Congo, North Korea, Syria, Myanmar (Burma), Somalia, Sudan, Venezuela, Zimbabwe, the regions of Crimea, Donetsk or Luhansk, the United States of America or any other country or region that is the subject of comprehensive country-wide or region-wide economic sanctions by the United States of America, the United Kingdom, the European Union or the North Atlantic Treaty Organisation (NATO); and
- Not the subject of economic or trade sanctions administered or enforced by any governmental authority or international organisation, or otherwise designated on any list of prohibited or restricted parties (including the list maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, sanctions list of the European Union or NATO).
Important notice: DYOR reserves its right to unilaterally change, cancel, suspend, or modify any aspect of the Referral Program or the Referral Terms at any time and at our sole and absolute discretion. You agree it is your responsibility to follow and review any such changes. We will notify you of any changes via the DYOR webpage or the User account becoming effective on the day of their publication. It shall be considered that you agree with the changed Referral Terms if you continue to participate in the Referral Program after the changes become effective.
3. About the Referral Program
How does it work?
As part of the Referral Program, DYOR provides you with a Referral Link after successfully registering in the Waitlist or (after the Platform launch) in your Platform User account. You may invite others to become new DYOR Users by sharing your Referral Link with them.
The Users that have signed up to the Waitlist, are ranked in a Waitlist leaderboard list, assigning them a sequence number (position) in the form of natural numbers, in a descending order, based on the amount of successful referrals the User has made i.e., based on the number of the User’s Referred Users (New Users that have signed up to the Waitlist via the Referral Link of the relevant User). The Users with the highest number of Referrals is ranked first in the leaderboard. If positions are tied, users who signed up first shall be ranked higher.
Within the Contest, the Users shall compete for a Reward as part of the Referral Program Reward pool, which shall in total be made of:
- 10,000,000 (ten million) Points; and
- Any cryptocurrency or mix of cryptocurrencies of DYOR’s choice with the total value of 10,000.00 USD (ten thousand United States Dollars) at the moment of payout of the reward (transfer of cryptocurrency/-ies to the User’s cryptocurrency wallet address) to the entitled User.
The top 50 % (fifty percent) of Users with the most referrals (most Referred User Waitlist sign-ups with the User’s Referral Link) in the Waitlist leaderboards shall be automatically entitled to a Reward that is a portion of 3,000,000 (three million) Point pool. The Reward amount (portion of the pool) of each individual User shall be proportional to the User’s position in the Waitlist leaderboard list i.e., higher position in the Waitlist leaderboard shall mean higher Reward. The amount of Point Rewards, based on the User’s position in the Waitlist leaderboard among the top 50 % (fifty percent) of Users with the most referrals shall be calculated based on the following rules and formulas:
- The top 10 % (ten percent) of the Users are included in this tier;
- 30 % (thirty percent) of the aforementioned Point pool shall be distributed among the Users of this tier in equal apportionments.
- The following top 15 % (fifteen percent) of the Users are included in this tier;
- 25 % (twenty-five percent) of the aforementioned Point pool shall be distributed among the Users of this tier in equal apportionments.
- The following top 20 % (twenty percent) of the Users are included in this tier;
- 20 % (twenty percent) of the aforementioned Point pool shall be distributed among the Users of this tier in equal apportionments.
- The following top 25 % (twenty-five percent) of the Users are included in this tier;
- 15 % (fifteen percent) of the aforementioned Point pool shall be distributed among the Users of this tier in equal apportionments.
- The following top 30 % (thirty percent) of the Users are included in this tier;
- 10 % (ten percent) of the aforementioned Point pool shall be distributed among the Users of this tier in equal apportionments.
The following table represents a theoretical example where 100,000 (one hundred thousand) Users sign-up for the DYOR waitlist and the Point pool is distributed in Rewards among the top 50 % (fifty percent) of Users with the most referrals.
|Tier 1||Tier 2||Tier 3||Tier 4||Tier 5|
|Number of Users||5,000||7,500||10,000||12,500||15,000|
|Point pool in total||900,000||750,000||600,000||450,000||300,000|
|Points per User||180||100||60||36||20|
The top 100 (one hundred) Users with the most referrals (most Referred User Waitlist sign-ups with the User’s Referral Link) in the Waitlist leaderboards shall be automatically entitled to a Reward of a portion of the cryptocurrency reward pool. The cryptocurrency Reward amount of the Users shall be proportional to the User’s position in the Waitlist leaderboard list i.e., higher position in the Waitlist leaderboard shall mean higher Reward. The amount of cryptocurrency Rewards, based on the User’s position in the Waitlist leaderboard shall be calculated based on the following rules and formulas:
The top 10 (ten) Users will split 50 % (fifty percent) of the cryptocurrency reward pool amounting to the total value of 5,000.00 USD (five thousand United States Dollars) in a progressive distribution scale:
- 1st position: 22 % (twenty-two percent) = 1,100.00 USD (one thousand one hundred USD);
- 2nd position: 18 % (eighteen percent) = 900.00 USD (nine hundred USD);
- 3rd position: 13 % (thirteen percent) = 650.00 USD (six hundred fifty USD);
- 4th position: 11 % (eleven percent) = 550.00 USD (five hundred fifty USD);
- 5th position: 10 % (ten percent) = 500.00 USD (five hundred USD);
- 6th position: 8 % (eight percent) = 400.00 USD (four hundred USD);
- 7th position: 6 % (six percent) = 300.00 USD (three hundred USD);
- 8th position: 5 % (five percent) = 250.00 USD (two hundred fifty USD);
- 9th position: 4 % (four percent) = 200.00 USD (two hundred USD);
- 9th position: 4 % (four percent) = 200.00 USD (two hundred USD).
The following top 90 (ninety) Users will split the remaining 50 % (fifty percent) of the cryptocurrency reward pool amounting to the total value of 5,000.00 USD (five thousand United States Dollars) as follows:
Tier 1, Positions 11 (eleven) - 30 (thirty):
- Number of users in Tier 1: 20 (twenty);
- The value of the reward pool for Tier 1: 2,000.00 USD (two thousand USD);
- Each user in Tier 1 will receive 100.00 USD (one hundred USD).
Tier 2, Positions 31 (thirty-one) - 70 (seventy):
- Number of users in Tier 2: 40 (forty);
- The value of the reward pool for Tier 2: 2,000.00 USD (two thousand USD);
- Each user in Tier 2 will receive 50.00 USD (fifty USD).
Tier 3, Positions 71 (seventy-one) - 100 (one hundred):
- Number of users in Tier 3: 30 (thirty);
- The value of the reward pool for Tier 3: 1,000.00 USD (one thousand USD);
- Each user in Tier 3 will receive 33.00 USD (thirty-three USD).
No purchases are necessary for participation in the Contest.
The Contest shall run from the 20th of April 2023 until the public launch of the Platform, as shall be publicly announced by DYOR The Point Rewards shall be credited to the User’s Platform account within 1 (one) month of the Platform launch, if the User will be registered on the Platform with the same email address, as was used for signing up for the Waitlist, before the aforementioned deadline. The cryptocurrency Rewards shall be transferred to the User’s cryptocurrency wallet address within 1 (one) month of the Platform launch, if the User (upon the request of DYOR) has provided DYOR with a cryptocurrency wallet address for the transaction before the aforementioned deadline or alternatively may be credited by DYOR to the User’s Platform account.
A User may be awarded Points either upon:
- Signing up for the Waitlist; or
- Receiving a Reward of Points as part of the Contest, as described above, in accordance with these Referral Terms; or
- Receiving any awards of Points from DYOR as part of any other giveaways, sweepstakes or contests organised by DYOR.
No purchases are necessary for Point awards, as described above.
Each New User that registers to the Waitlist for the first time shall be automatically awarded with 10 (ten) Points for signing up to the Waitlist and becoming a User (limited to the first 250,000 (two hundred and fifty thousand) Users). Points shall be credited to the User’s Waitlist account.
After the public Platform launch, any points credited to a User’s Waitlist account, shall be automatically transferred to the User’s Platform account, upon the User registering on the Platform with the same email address, as was used for signing up for the Waitlist.
Points may only be used, as provided for in these Referral Terms. Points have no monetary or cash value and cannot be converted into any FIAT currency.
AS PART OF THE REFERRAL PROGRAM OR ANY OTHER MARKETING ACTIVITIES OF DYOR, POINTS MAY BE AWARDED TO USERS NOT LATER THAN UNTIL THE PUBLIC LAUNCH OF THE TOKEN OR ANY OTHER DEADLINE PRIOR TO THE PUBLIC TOKEN LAUNCH, AS UNILATERALLY DECIDED BY DYOR. Tokens are made available to the general public in a publicised Token product launch. Choice of the time and solutions of the Token launch, including Token generation and the liquidity event is at the sole discretion of DYOR and is based on the successful development of the DYOR platform and the DYOR Token and the underlying technological solutions.
Once and if the Platform and the Token are publicly launched, Users with Points credited to their User account, shall be entitled to exchange their Points to Tokens via the Platform. Prior to the public Token launch, DYOR shall issue detailed conditions, information and instructions on the conversion of Points to Tokens, including, the total Token reward pool, Token redeeming conditions, Point to Token conversion rates, conversion timeline, etc. DYOR may issue the aforementioned additional conditions or specifications as amendments to these Referral Terms or communicate them to the Users in any other way as DYOR seems appropriate.
Choice of the time of the TGE and the liquidity event is at the sole discretion of DYOR and shall be based on the successful development of the Platform and the underlying technological solutions, as well as the code and technical solutions of the Token. For the avoidance of doubt, if there is no Platform launch or TGE, or, if DYOR has decided to discontinue the DYOR project and/or all activities aimed at launching the Platform and/or the Token, the Referral Program, as well as the payout or issuance of any rewards or payments as part of the Referral Program or any other announced marketing initiatives, giveaways, sweepstakes, contests of DYOR, shall be fully terminated at no compensation to the Users. DYOR shall announce its decision publicly.
The Users acknowledge that crypto assets such as the Token are a new and relatively untested product. There is considerable uncertainty about their long-term viability and value, which could be affected by a variety of factors, including many market-based factors such as economic growth, inflation, and others. Accordingly, there is no guarantee that the Tokens will hold their value or increase in value. The utility and value of the Token, inter alia, depends on DYOR’s future success and abilities to implement its technological solutions. UPON THE TGE, THE VALUE OF THE TOKEN SHALL BE DETERMINED BY THE OPEN MARKET MECHANISMS AND, CONSEQUENTLY, DYOR CANNOT PROVIDE ANY GUARANTEES REGARDING THE VALUE OF THE TOKENS THAT THE USERS WILL HAVE RECEIVED AS A RESULT OF THE EXCHANGE OF THEIR POINTS TO TOKENS.
How can you become a Referrer?
What is considered Referral Program misuse and what are the consequences?
As a Referrer, you are eligible to invite others to become New Users by sharing your Referral Link with them with the aim to open an account with DYOR and become the users of DYOR services.
Referral Links should be used as personal invite and for non-commercial purposes only. In case Referral Links will be used solely for the purpose of exploiting the reward system, We will restrict your participation in the Referral Program.
The following actions when using the Referral Link are prohibited:
- Promoting your referral code through the use of paid advertising “DYOR” or DYOR related keywords. This includes (but is not limited to) bidding or running ads on search brand keywords that include “DYOR” or similar variations or using the DYOR brand in your ad copy.
- Promoting the Referral Link through a public site or domain.
- Spamming, mass emailing, or performing any similar mass messaging.
- Using automated systems, bots, or scripts.
- Encouraging the invitees to register and make a transaction solely with a purpose to exploit the reward system, without the actual purpose of becoming a DYOR user; such statements are made either publicly or deducted based on further behaviour of the New Users.
- Using the Referral system solely as a source of revenue. DYOR reserves the right to make a decision in its sole discretion whether the Referrer is exploiting the Referral Program lacking the basic intention of being a customer of DYOR.
- Using the DYOR brand, the Referral Program, our services, DYOR platform in connection with any offensive, abusive, harassing, or defamatory content, or in any such manner contrary to the principles of fairness and integrity. DYOR reserves the right to determine such misappropriate use at its sole discretion.
In case We detect such inappropriate use of the Referral Program DYOR reserves the right to:
- Deactivate your Referral Link at any time and at its own discretion
- Disable rewards resulting from such activities, resulting in Referrers becoming ineligible for referral payments
- Limit the use of the Referral Link (e.g. defining the maximum number of link shares)
- Disqualify any actions performed by the Referrer or Referee and not award any Referral Rewards, or in the event that a Reward has already been awarded, take the award back or limit the withdrawal of the value of the award at its sole discretion
- Accept and implement any other measure(s) to protect the interest of DYOR and the Referral Program
Important notice: DYOR may, in its sole and absolute discretion, terminate, restrict, or suspend any user’s participation in the Referral Program for breach of these Referral Terms, or if We find that your method of or intentions for participating in the Referral Program do not meet the conditions and purpose as defined in the Referral Terms, or We suspect any fraud or any manipulation of the referral rules or abuse of Referral Program/campaign. DYOR, therefore, reserves the right to suspend your account or to deny, cancel the distribution, deactivate your Referral Link, deduct any Referral Rewards from your User or Waitlist account, or decline being awarded, in the event that it determines or believes that Referral Reward was received in a fraudulent manner, in manipulation or in violation of the Referral Terms, or by an error, including technical errors.
We may also restrict your participation in the Referral Program if your country of nationality is excluded from the countries where we enable the Referral Program (applicable in case we restrict certain countries from the Referral Program).
What else should you know?
You are solely responsible for reporting and paying any taxes applicable to you with regard to the use of the Platform and the receipt of any Referral Awards.
DYOR is not responsible for any injury, loss, or damage to any Users and other participants or their property related to their participation in the Referral Program, Contest or any other giveaways or campaigns organised by DYOR. Users and other participants agree to release and hold harmless DYOR and its affiliates from any liability, injury, loss, or damage resulting from participation in the Referral Program, Contest or any other giveaways or campaigns organised by DYOR or acceptance, use, or misuse of any prizes or rewards received in them.