Damex In-app Rewards Program – Terms & Conditions

V1.0 – 03/05/2023

Damex is offering existing Damex App users with a range of rewards to eligible participants who complete a series of steps and/or challenges within the Damex App. The types of rewards may include, but are not limited to, discounts on exchange fees, cash back incentives, and refer-a-friend bonuses.

These terms and conditions in relation to rewards (“Reward Terms”) govern the Damex App rewards program (the “Rewards Program”) offered by Damex. These Reward Terms shall be read in conjunction with the general Damex Application Terms and Conditions. By participating in the Rewards Program, you agree to be bound by these Reward Terms, as well as any other applicable terms and conditions that may apply to your use of the Damex App and our services.

Am I Eligible?

To participate in the Rewards Program, you must be a registered Damex App user in good standing and have a valid Damex account. The Rewards Program is open to individual users only.

Eligible members will have access to rewards upon successful completion of the necessary steps outlined below.

What are the Rewards?

The Rewards Program is based on the completion of specific in-App challenges, such as reaching a certain number of steps within a relevant calendar month, and provides rewards in the form of discounts on exchange fees, cash back incentives, and refer-a-friend bonuses.

The Rewards Program is tiered based on membership level (Standard, Premium, or VIP) and on the completion of specific step thresholds (“Challenges”) during the preceding calendar month (“Qualifying Month”). The rewards for each tier will become available withinavailable for within the calendar month following the Qualifying Month, during which the respective Challenge was completed.

The table below outline the corresponding rewards for each Challenge completed at each membership level.

How do I get my Cashback Reward?

Cashback rewards are calculated as a percentage of the eligible transactions completed within the Damex App during the Qualifying Month, as specified in the table above. Cashback rewards will be credited to the user’s Damex account within 5 days after the end of the Qualifying Month.

How do I get my Refer-a-Friend Bonus?

Eligible Damex App users can earn refer-a-friend bonuses by inviting friends who use their referral code during the Damex App account registration. To earn the refer-a-friend bonus, the referral must successfully complete the verification process. The bonus amount is determined by the referrer’s membership tier and the Challenge completed by the referrer during the Qualifying Month, which in this case is the month immediately preceding the month the referral successfully completes verification. 

Once the referred user has successfully completed the verification process, the refer-a-friend bonus will be credited to the referrer’s Damex account within 5 days after the referral completes verification.

Particular eligible Damex App users part of particular promotional campaigns can earn refer-a-friend bonuses and the bonus amount may be determined on a case by case basis where rewards are not tied to a User’s membership tier.

Eligible Damex App users must ensure that their referrals download and install the Damex App through the official channels, such as the App Store or Google Play Store. Damex reserves the right to withhold or reverse refer-a-friend bonuses, and delete or suspend user accounts for users whose referrals have downloaded the Damex App through unofficial channels.

How will I receive Cashback Rewards or Refer-a-Friend Bonuses?

Damex, at its sole discretion, may credit your account in any Fiat Asset or Digital Asset including but not limited to $Damex tokens, stablecoins etc.

How do I get a Discount on Exchange Fees?

Discounts on exchange fees are applicable to eligible transactions completed within the Damex App during the Qualifying Month, as specified in the table above. The discount will be applied automatically at the time of the transaction.

How can I upgrade my Membership?

Users can upgrade their membership level within the Damex App by meeting specific criteria set by Damex from time to time, such as staking a minimum Damex Token balance for a specified period. Damex reserves the right to modify the criteria for each membership level at any time, with or without notice. Users’ membership levels will be reviewed periodically, and Damex reserves the right to downgrade a user’s membership level if the user no longer meets the criteria for their current level.

Is there a maximum number of invitations that I can send to receive my Refer a Friend bonus? 

Yes, each user has a maximum of 20 invitations available per month to earn the rewards corresponding to the activated plan and the challenges they have successfully completed.

General Terms

1. The Rewards Program is organised and offered by Damex.io UAB, a company incorporated in Lithuania with registration number 306148560 and registered office at Žygimanto Liauksmino g. 3, Vilnius, Lithuania.

2. These Rewards Terms form part of and shall be read with the General Terms & Conditions of the Damex Application.

3. Damex reserves the right to:

3.1 modify, suspend, or terminate the Rewards Program at any time, with or without notice. Any changes will be effective immediately upon posting of revised Reward Terms on the Damex App or website; 

3.2 disqualify any user from participating in the Rewards Program if the user engages in any fraudulent activity and/or the user breaches these Reward Terms or the Damex App Terms & Conditions that apply to the user;

3.3 disqualify any user from participating in the Rewards Program, delete or suspend user accounts, or reverse any rewards if the user or their referrals download and install the Damex App through unofficial channels;

3.4 reverse any reward a user receives under the Rewards Program if the user engages in any fraudulent activity and/or the user breaches these Reward Terms or the Damex App Terms & Conditions that apply to the user and/or a payment that earned the user a reward is refunded or reversed.

4. Rewards earned under the Rewards Program are not transferable and cannot be exchanged for any other form of compensation.

5. Users are responsible for any taxes or other fees that may apply to the rewards earned under the Rewards Program.

6. In the event of any failure, interruption or delay in the performance of our obligations, resulting from acts, events or circumstances outside our reasonable control (which circumstances shall include, but not be limited to unanticipated dealing volumes, market liquidity issues, industrial disputes, acts or regulations of any governmental or supranational bodies or authorities, act of god, pandemic, threats or acts of terrorism, fire, war, civil commotion, insurrection, embargo, breakdown, failure, malfunction or delay caused by any public utility, telecommunications or computer service or systems) Damex shall not be liable for any loss or damage incurred or suffered by you.

7. These Reward Terms are in English and all future communications will also be in English and any translation is a courtesy and an unofficial translation only. Participants of the Rewards Program cannot derive any legal rights from a translated version. The English language version of these Reward Terms shall apply and prevail and be conclusive and binding. The English version shall be used in any legal proceedings.

Rewards Overview & Comparison