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Membership Bonus Terms and Conditions

The following document (“Membership Bonus Terms”) governs the terms and conditions for your (“you”, “Participant” or the “User”) participation in The People’s SCE’s Membership Bonus Campaign, under which Participants are entitled to participate and receive free distribution of Crypto-assets. This document does not pertain in any way to an offering of securities in any jurisdiction nor the issuance of any electronic money or other type of government backed payment instrument. 

By participating in a Membership Bonus Campaign, User agrees with the following terms: 

When you participate, or otherwise receive a free Crypto-Asset, you may only do so by accepting the following conditions. You warrant and represent that the following are a true and accurate reflection of the basis on which you are participating in Membership Bonus Campaign, therefore You acknowledge that You: 

– declare that You have read, understood and accepted “eWallet App General Terms of Service” and associated Policies as referenced thereof; 

– have registered a valid User Account pursuant to “eWallet App General Terms of Service” (hereinafter referred to as the “eWallet GTS”) and associated Policies as referenced thereof; 

– declare that you have read and understood the “Articles of Association” of The People’s SCE (hereinafter referred to as the “SCE AoA”), that you are aware of the business objectives and legal status of The People’s SCE and of the requirements for the admission and acquisition of membership in The People’s SCE; 

– declare that You meet the formal requirements for admission of membership as provided in the SCE AoA; 

– you do not reside in country which is included in the official sanctions list of the EU; 

– have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with blockchain technology, Crypto-assets and Airdrops; 

– understand and accept the risks associated with blockchain technology and cryptocurrency protocols as outlined in “eWallet App General Terms of Service”; 

– will supply us with all information, documentation that we require in order to allow The People’s SCE to process the membership application; 

– will not hold “The People’s SCE”, its associates, employees and partners liable for any damages, loss of assets, or anything related to a particular Crypto Asset that is part of a Membership Bonus. 

DEFINITIONS:

In these Welcome Bonus Terms, all capitalized terms shall have the meaning assigned to them herein, and shall have the meaning assigned to them here throughout this entire document, unless explicitly indicated otherwise: 

The People’s SCE The People’s SCE, with limited liability, a “Société coopérative européenne” registered in Grand Duchy of Luxembourg with registered business address at 53, Boulevard Royal, L- 2449 Luxembourg, RCS no.: B260175, VAT Number: LU33453169 

Welcome Bonus a free distribution of eActivity (ACT) to eligible Participants in the amount of 50 tokens subject to the terms and conditions as set in these Membership Bonus Terms 

100 Member Bonus a free distribution of cryptocurrency “ECS tokens” to the first 100 Participants in the amount equivalent to EUR 50,00 based on the market price at the time of distribution and subject to terms and conditions as set in these Membership Bonus Terms 

eWallet GTS eWallet General terms of Service – https://ecredits.com/en/ewallet-app-general-terms-of-service/  

SCE AoA The People’s SCE articles of association as of 29. September 2021 – https://dl.ecredits.com/legal/Statutes_ThePeoplesSCE.pdf  

Member(ship) The status of a member in The People’s SCE in accordance with the SCE’s AoA 

eCredits eWallet (App)  non-custodial wallet application, provided by The People’s SCE in accordance with the eWallet GTS; 

ECS tokens eCredits cryptocurrency: https://explorer.ecredits.com/  

eActivity (ACT) eActivity token:    https://explorer.ecredits.com/address/0xc58F8497B1C0a140CE92409C0db8f0F60F2E7Ad5/transactions  

Crypto-Assets ECS cryptocurrency or eActivity (ACT) tokens 

  

1. GENERAL

1.1. Subject to the terms and conditions set herein, The People’s SCE offers the following rewards for the promotional purposes:  

a) “100 Member Bonus” in a form of a free distribution of ECS tokens in the amount equivalent to EUR 50,00 (based on the  market price at the time of distribution) exclusively to the first 100 newly registered and approved members; and 

b) “Welcome Bonus” in a form of a free distribution of eActivity (ACT) tokens in amount of 50 tokens exclusively to further newly registered and approved members who are not among the first 100 newly registered and approved members in consecutive order. 

2. ELIGIBILITY AND PARTICIPATION

2.1. The “100 Member Bonus” is available exclusively to the first one-hundred (100) newly registered and approved Participants, who cumulatively meet the following eligibility criteria: 

  • Participant has completed the eWallet setup and has registered a valid User Account in accordance with the eWallet GTS, including the creation of a non-custodial wallet address; 
  • Participant is one of the first 100 consecutive applicants that submitted a valid Membership application form in accordance with the SCE AoA and has paid all of the membership admission fees in full in the duration period set out in paragraph 3.1. herein; and 
  • Participant’s membership application is approved.

2.2. The “Welcome Bonus” is available exclusively to newly registered and approved Participants, who cumulatively meet the following eligibility criteria: 

  • Participant has completed the eWallet setup and has registered a valid User Account in accordance with the eWallet GTS, including the creation of a non-custodial wallet address; 
  • Participant has submitted a valid Membership application form in accordance with the SCE AoA and is not one of the first 100 consecutive applicants that has submitted such application,  
  • Participant has paid all of the membership admission fees in full in the duration period set out in paragraph 3.2. herein; and 
  • Participant’s membership application is approved. 

3. DURATION

3.1. The “100 Member Bonus” will be available to the eligible Participants from 28 September 2022 until October 31, 2022, or until the first 100 Participants are registered with approved membership, whichever is earlier. 

3.2. The “Welcome Bonus” will be available to the eligible Participants starting from the end of duration of “100 Member Bonus” as set out in previous paragraph and until the end of October 31, 2022. 

4. RESTRICTIONS

4.1. Participants are permitted to hold register only one Membership. Multiple registrations are not permitted nor multiple “100 Member Bonus” or  “Welcome Bonus” participations for the same membership. 

4.2. The People’s SCE reserves the right, at its sole discretion, to decline registration of any participation in the “100 Member Bonus” or “Welcome Bonus” and/or disqualify any Participant in the “100 Member Bonus” or “Welcome Bonus” in case of tampering or attempt to tamper with the operation of the Bonus (“Bonus Abuse”). 

4.3. Specifically, a Bonus Abuse includes, but is not limited to: 

  • breach of these Membership Bonus Terms and Conditions, eWallet GTS, SCE AoA and/or any of the Terms and Conditions set forth on the eCredits Website; 
  • the opening of multiple accounts or memberships to claim multiple “100 Member Bonuses” or “Welcome Bonuses”.

4.4. Where there is a reasonable suspicion that the participant has committed or attempted to commit a Bonus Abuse, either on their own or as part of a group, The People’s SCE reserves the right to (cumulatively or selectively): 

  • forfeit the “100 Member Bonus” or “Welcome Bonus” allocated to the Participant’s User Account; 
  • exclude the Participant from any future promotional offers;

4.5. Under no circumstances shall The People’s SCE be liable for any consequences of the “100 Member Bonus” or “Welcome Bonus” cancelation or decline. 

5. RECEIVING "100 MEMBER BONUS" OR "WELCOME BONUS"

5.1. Each Participant that satisfies the eligibility criteria in the section 2 of these terms, will be notified by email. 

5.2. The “100 Member Bonus” or “Welcome Bonus” will be transferred by the blockchain transaction to the Participants’ eWallet User Account (public) address until 30 November if the Participant satisfies the eligibility requirements in the section 2 of these Terms. 

5.3. The amount of “100 Member Bonus” in ECS tokens will be calculated at the cut-off date of the “100 Member Bonus” distribution. 

6. LIMITATION OF LIABILITY

6.1. Participant acknowledges that the offered “100 Member Bonus” amount of ECS tokens in amount equivalent to EUR 50,00 shall be based on the market price at the time of the Welcome Bonuses to the eligible participants, whereas the actual price/value of ECS tokens at which a Participant receives it, may be different than indicated at the time when “100 Member Bonus” distribution transaction was initiated, especially during periods of illiquidity, or volatility in the marketplaces for any Crypto-Asset, including ECS token. Accordingly, the ratio between the quantity of ECS Tokens as a “100 Member Bonus” and the total value of EUR 50.00 is only an approximation and Participants acknowledge that, at the time of the “100 Member Bonus” transaction execution, there may be price fluctuations inherent in the cryptocurrency market that don’t provide any guarantee that the quantity of ECS Tokens actually received as a “100 Member Bonus” will correspond exactly to the total value of EUR 50.00, or that such value will be maintained in the future. The People’s SCE gives no guarantees with regards to the volume, price or other specifications on secondary exchanges and no warranties with regards to any exchange service providers or the price of Crypto-assets, including ECS token, on such exchanges. The People’s SCE is not liable for any direct, indirect, incidental, special, or consequential damages or losses in profits, goods or services, which might occur due to any such price fluctuations.   

6.2. In addition to the Risk and Limitation of Liability sections in the eWallets GTS, The People’s SCE shall have no liability for Crypto-Assets subject to the “100 Member Bonus” or “Welcome Bonus” with respect to the nature of the Crypto-Assets and their technical and legal characteristics. Each User should inquire and verify all legal and technical characteristics of each Crypto-Asset before any subscription. The User agrees that The People’s SCE shall not be liable in any way whatsoever for any damages or losses associated with any particular Crypto-Asset. 

6.3. User acknowledges that The People’s SCE does not make any guarantees regarding any Crypto-Assets, correctness of the data included thereof, and does not assume any liability and/or responsibility for any representations or guarantees deriving from any Crypto-Assets, including but not limited to non-performance, non-conformance defects or errors related to the Crypto-Assets.  

6.4. If an act, omission, event or circumstance occurs which is beyond the reasonable control of The People’s SCE and which prevent The People’s SCE from complying with these terms and conditions, The People’s SCE will not be liable for any failure to perform or delay in performing its obligations. 

7. MISCELANEOUS

7.1. The People’s SCE reserves the right to cancel, withdraw, terminate, or temporarily suspend this “100 Member Bonus” or “Welcome Bonus” or amend these Membership Bonus Terms at any time, in case of unavoidable circumstances beyond The People’s SCE’s control that make it necessary and to the extent this would not be unfair or will not disadvantage those who sought to participate within the original terms. The Participants will be notified via the registered e-mail address.   

7.2. In the above cases, The People’s SCE bears no responsibility towards the Participants and the Participants are not able to request the completion or continuation of the “100 Member Bonus” or “Welcome Bonus” and/or to claim damages. 

7.3. If any of the above cases occur, any Participant that wishes to withdraw its participation in the “100 Member Bonus” or “Welcome Bonus” shall sent an e-mail to [email protected], stating explicitly that it wishes to withdraw its participation. If the users do not withdraw their participation by following the above procedure, their participation in the “100 Member Bonus” or “Welcome Bonus” will be considered valid, and it will imply that they tacitly and unconditionally accept the terms and conditions of the “100 Member Bonus” or “Welcome Bonus”, as these are amended.   

7.4. The “100 Member Bonus” or “Welcome Bonus” and these Membership Bonus Terms shall be governed by the laws of Luxembourg and any disputes will be subject to the exclusive jurisdiction of the Courts of Luxembourg.  

8. CONTACT

or further questions regarding Membership BonusTerms and conditions, please contact [email protected]  

Luxembourg, 26 September 2022 

The People’s SCE with limited liability