Terms & Condition

General

The official website for this Coin Sale is https://www.covex.io CoVEX reserves the right, at its sole discretion and without providing any prior notice, to:

Modify, change, add or remove any feature(s), or amends any section of the Website as it deems fit. You shall be considered to have acknowledged and agreed to any such modification, change or amendments to any document(s) related to the project; and Block or limit access to, or end, withdraw or postpone the use of the website or any component or section of Website. No CoVEX management, staff or any of its representative(s) will be liable for loss or damages arising from such actions.

ICO

Investors, herein called CoVEX holder(s) or CoVEX coin holders will privately provide funds to CoVEX for the implementation of CoVEX platform and will receive coins in recognition of their contributions.

From time to time CoVEX may hold an election to via the Platform to get opinions of CoVEX holders regarding the technical or financial implementation of CoVEX. In case the poll is conducted, only the Board of Advisors will participate.

The acquisition of coins does not offer any proprietary obligations or rights or even contract, whether express or implied, other than receiving rewards described in the Whitepaper when CoVEX is successfully concluded and deployed. During the poll, the outcome of such poll, may not, under conditions, be binding on the development of CoVEX or its future prospects.

CoVEX reserves the right to make any change(s), additions or modifications to the technical and financial direction or even implementation of the project.

The Coin Sale (ICO) will be conducted through the Website and will involve CoVEX accepting currencies and issuing coins in recognition of such payments. Interested investors can use ETH as means of payment. Any questions regarding payments should be directed to [email protected]

There are no agreements or warranties that the CoVEX Platform will be delivered within the required timeframe, or at all.

By agreeing to participate in this Coin Sale, via buying CoVEX coins, and to the extent allowed by applicable laws and regulations, you agree not to hold any CoVEX management, staff(s), or any of its representative(s) liable for any damage or loss arising out of, or in any manner connected to, your failure(s) to properly secure and store your credentials during the ICO.

CoVEX Coins

CoVEX coins will be available for interested investors during the ICO that is set to run from November 2018. During the ICO, a total volume of 150,000,000 CoVEX coins will be released to interested coin holders.

The funds raised from the ICO will be used for development and marketing of CoVEX Platform as stipulated in this whitepaper.

Timing of the ICO

The ICO will start from November 15, 2018 and end on December 30, 2018. Before the ICO, there will be a Private sale that will take place for 30 days which will begin on September 1, 2018 and end on September 30, 2018. CoVEX reserves the right to alter commencement date and time for any phase of the ICO. Any such alteration(s) will be announced on the Website.

Fee Distribution model

CoVEX coin holders will receive fee split in the form of daily transaction fees. The platform will use 23:00 GMT as a cut-off time from which to compute the revenue. At the last minute of each day 23:59 GMT, the Platform will calculate and distribute the collected fees of the day.

The net revenue will be distributed as follows:

  • 50% to the CoVEX holder
  • 20% to the referrals
  • 30% to remain in-house

Discount model

Any CoVEX holder with more than 1,000 CoVEX coins will be entitled to 50% discount in buying and selling fees.

Commission model

Any CoVEX holder who refers a trader to the Exchange will be entitled to 10% commission of every coin that the trader exchanges. This commission will be computed in USD and paid in CoVEX coins. For one to qualify for the commission fees, he/she must hold CoVEX coins.

Acceptance of Terms and Conditions

  • You acknowledge that: -
    • CoVEX coins may be value-less
    • There is no assurance or representation of value or liquidity attached to the CoVEX coins
    • CoVEX coins are not offered for speculative purposes
    • None of the CoVEX and/or the CoVEX staff shall be held responsible for or will be liable for the value of the CoVEX coins, their transferability and/or liquidity and/or the availability to any market via third parties or otherwise.
  • In any decision to trade in CoVEX coins or participation in airdrop, you have not banked on any information spelled out this document;
  • You admit, understand and agree that this document and the CoVEX ICO shall not be deemed as any advice, statement or suggestion of the benefits of CoVEX and/or the CoVEX ICO;
  • The information provided herein is confidential and cannot be distributed to others without the prior written consent of CoVEX;
  • In case you buy the CoVEX coins, you will and shall at your own expense make sure you comply with all laws, regulatory obligations and limitations relevant in any jurisdiction (as the case may be); and
  • You acknowledge that you are not eligible to buy any CoVEX coins if you are a US citizen/resident, or citizen/resident of the Republic of Singapore and Peoples’ Republic of China.
  • All the statements contained herein, statements made via press releases or in any place accessible by the public and other oral statements which may be made by CoVEX and/or the CoVEX staff may only constitute forward-looking statements. This may include, but not limited to statements of intention, beliefs or current expectations with regard to market conditions, business strategies and plans, financial expectations, specific requirements and risk management practices.

Taxation

CoVEX makes no representations regarding tax consequences of participating in the ICO, making payments to CoVEX, or receiving and holding the CoVEX coins.

You bear the ultimate responsibility for evaluating or assessing the tax consequences of your participation in the ICO to CoVEX or holding coins in all the respects in any applicable jurisdiction.

By participating in this Coin Sale, making payments, or holding or receiving CoVEX coins, to the extent allowable by relevant law, you agree that no other party will be held responsible for damages or losses connected to CoVEX Platform.

Intellectual Property

Unless otherwise expressly stated, the data and content on this Website is the sole property of CoVEX. No part of this Whitepaper will be copied, reproduced, and distributed in any manner without prior written permission of CoVEX, and specifically must not be transmitted to any jurisdiction where such distribution is restricted.