X Drops Club Terms and Conditions

1. Campaign Overview and Period

1. The Campaign allows eligible users to join and earn rewards in the form of specific tokens (the "Reward Token") based on their eligible crypto asset holdings.

2. Eligibility Requirements

This campaign is open only to users who meet all of the following criteria:

1. Jurisdiction: This Campaign is available to new or existing eligible OKX users, who are not employees of OKX, residing in the EEA during the Campaign Period (as confirmed by advanced identity verification).

2. Campaign Enrollment: Users must log in to their OKX account, visit the "X Drops Club" landing page, and click the "Join" button on the relevant campaign individually to enroll.

3. Asset Threshold: Users must maintain a minimum balance of eligible crypto assets totalling at least 7,500 EUR in value ("Crypto Balance") on each day of the campaign. See Section 3.2 for eligible crypto assets.

4. Account Status: Users shall not be subject to any restrictions imposed on their account at the time of enrolment.

3. Reward Mechanics and Calculations

3.1. Rewards

The total rewards are divided into daily amounts for each day of the Campaign Period.

3.2. Eligible Crypto Balance

To qualify for rewards, a user's Crypto Balance implies the total value of crypto assets in their portfolio, subject to the following exclusions:

• Cash Excluded: Fiat currencies (e.g., EUR and USD) are excluded.

• Stablecoins Excluded: USDC, USDG, EURC and USDR are excluded from Crypto Balance.

• All other crypto assets will be counted towards the Crypto Balance.

• Valuation: The value of the Crypto Balance will be converted to EUR based on the real-time token price at the time of the snapshot(s).

3.3. Daily Snapshot and Distribution

1. Snapshot Timing: Your eligible asset value is based on a portfolio snapshot taken at a random time during the final hour before each drop (the "Snapshot Period"). The timing of this final hour depends on when the campaign starts. For example, if the campaign begins on 1 April at 12:00 PM (GMT+2), the Snapshot Period will be from 2 April 11:00 AM to 12:00 PM (GMT+2).

2. Calculation Formula: Rewards are distributed daily based on the user's proportional eligible Crypto Balance relative to the total eligible Crypto Balance of all participants.

3. 

4. Minimum Threshold: If a user's Crypto Balance is below 7,500 EUR at the time of the snapshot, they will not be eligible for rewards for that period.

5. Hard Cap: A hard cap applies to the amount of crypto assets eligible to participate in reward calculations. The specific hard cap amount may vary by campaign and by user tier (e.g., standard users vs. VIP users). Any crypto assets held by a user in excess of the applicable hard cap will not be counted toward the reward calculation. Please refer to the individual campaign page for the applicable hard cap.

6. Distribution: Rewards will be automatically credited to the user’s funding account on a daily basis following reward calculations and the completion of OKX's risk control review.

4. Platform Rules and General Terms

1. Acceptance of Terms: By participating in this Campaign, users agree to these Terms and Conditions, Product terms and conditions (X Drops Club Terms and Conditions), as well as the OKX Terms of Service and Policy for the entity with which they onboarded as a customer.

2. Sub-Accounts: Participation is restricted to the main account only. Sub-accounts are not eligible to participate, and earnings of sub-accounts will not be included in the calculation of the main account.

3. Taxes and Fees: Any and all applicable taxes, fees, and additional expenses related to the acceptance and use of the reward are the sole responsibility of the individual reward recipient.

4. Service Providers by Region: Users are serviced by specific entities based on their residency. Participation is subject to the Terms of Service of the applicable entity:

   • EEA: OKX Europe Limited (Malta).

5. Anti-Fraud: OKX reserves the right to disqualify any participant who engages in dishonest or abusive activities during the Campaign, including but not limited to:

   • Registering multiple accounts (bulk registration);

   • Using other people's accounts or identity information;

   • Providing false KYC information;

   • Engaging in wash trades or maliciously inflating trading data; or

   • Any other activity deemed by OKX to be illegal, fraudulent, or harmful.

6. Disclaimer: This is a marketing communication. OKX is the trading name of OKX Europe Limited, a Malta registered Company licensed by the MFSA as a Crypto-Asset Service Provider. This email is not (i) investment, financial, accounting, legal or tax advice, or (ii) an offer or solicitation to buy, sell or hold crypto/digital assets. Crypto/digital assets, including stablecoins and NFTs, are subject to market volatility, involve high risk, can lose value, and can become worthless. You should buy crypto/digital assets only if you are prepared to accept the risk of losing all of the money you put into such assets. Please consult your advisors for questions about your circumstances. Not all products are offered in all regions. For more details, see OKX's Terms of Service - EEA and Risk & Compliance Disclosure.

7. Right to Modify: OKX reserves the right to cancel, extend, terminate, or modify the Campaign or its rules at any time without prior notice. This includes adjusting eligibility conditions or reward calculations.

8. Final Interpretation: OKX reserves the right of final interpretation of this Campaign. In the event of any discrepancy between translated versions and the English version of these terms, the English version shall prevail.