Airdrop Terms & Conditions

Last Updated Aug 12 2020

Scope

These Terms and Conditions ("Terms") apply to the airdrop and referral program of Morpher Labs GmbH ("Morpher Labs") on the website www.morpher.com ("Website") and the application ("App"). During the course of the airdrop and referral program, Morpher Labs plans to distribute "Morpher Tokens" as a reward for registering on the Website and referring new users. Morpher Tokens are ERC20 tokens on the Ethereum blockchain.

The Morpher Tokens distributed in connection with the airdrop and referral program are 'gifts' pursuant to § 938 of the Austrian General Civil Code and do not confer any rights, neither statutory nor contractual, on recipients.

Morpher Labs may update, change, replace or cancel these Terms at any time without prior notice. The airdrop and referral program will run until the entire amount of Morpher Token allocated thereto has been distributed.

Token Rewards and Referral Program

The first 10,000 users who register on the Website and pass the KYC/AML check are eligible to receive 2,000 Morpher Tokens upon accessing the App for the first time ("Airdrop"). Users who refer new users via their individual signup link are eligible to receive a reward of 1,000 Morpher Tokens per referred user ("Referral Reward"). To receive the Referral Reward, the referrer and the referee must both be eligible for the airdrop as well as register, pass KYC/AML checks, and actively claim the reward. Referred persons must redeem their tokens in order for the referrer to earn a referral bonus. Each unique natural person can participate in the airdrop just once. We reserve the right to blacklist users if we believe they are not actually eligible or participated in botting/spamming or similar activities.

Reward Variability

After 10,000 users have registered and passed KYC on the Website, the amount of Morpher Token distributed under the Airdrop and referral program will be reduced by half until the next 20,000 users have passed KYC on the Website, in which case the Morpher Token amount will be further reduced by half. Token Rewards and Referral Rewards will continue to decrease at a set pace as more users sign up.

Token Redemption

Morpher Labs will enable redemption of Morpher Token rewards after the Tokens have been created. There is nothing physical being provided, the Tokens are distributed electronically only. Redeeming claimed tokens will require registering on the App by connecting an Ethereum wallet. Failure to redeem Morpher tokens over an extended period of time, may lead to those Tokens being reallocated.

Token Value

Any price associated with Morpher Tokens or mentioned on the Website is our best estimate of value at the time. Morpher Labs does not take any financial responsibility for the value of Morpher Tokens. Morpher Labs does not guarantee the price of Morpher Tokens, or the ability to convert/exchange tokens into other forms of currency.

Airdrop Eligibility

In order to be eligible for the Airdrop, users must:

  • Be at least 18 years of age
  • Register on the website
  • Pass KYC/AML and liveness checks to validate they’re a real person
  • Not be a resident or "person" of the following countries: United States, Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People's Republic of Korea, Ethiopia, Ghana, Guam, Iran, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
  • A country may be added or removed from the list of supported countries at any time for any duration. This is set at our discretion.

Choice of Law and Jurisdiction

These Terms and any non-contractual obligations arising out of or in relation to it shall be governed by and construed in all respects in accordance with Austrian law, excluding the Austrian conflict of law rules of Austrian international private law.

The Commercial Court for the first district of Vienna, Inner City (Austria) shall have exclusive jurisdiction to resolve disputes arising out of or in connection with these Terms.


Virtual Futures: Any financial markets mentioned are only available as Virtual Futures. All mentions of buying, selling, or shorting markets refers to placing long or short stakes on Virtual Futures that represent those markets. Virtual Futures are synthetic instruments, built using Ethereum blockchain protocols, that grant users exposure to the price development of various assets. Virtual Futures' prices can be derived from stocks, currencies, commodities, indices, cryptocurrencies, ETFs, as well as other alternative investment assets. Unlike actual futures, Virtual Futures can track their underlying market in perpetuity and do not expire. Virtual Futures do not provide ownership of the underlying markets that they emulate. They do not represent a share or other claim with respect to an investment undertaking. Virtual Futures are not tradable, transferable, or standardized. Virtual Futures are also not based on a contractual relationship. Virtual futures are not derivatives, CFDs, securities, derivative securities, money-market instruments, or any other financial instrument under MiFID II and the Austrian Securities Supervision Act. Virtual Futures are not options, futures, swaps or forward rate agreements because there is no obligation for future performance at a certain or designated future date.

Portfolio Value: Your investment portfolio on Morpher is not a bank insured deposit. Returns are not guaranteed, your portfolio may lose value. All investments are denominated in Morpher Tokens and subject to related currency risks (see below). You are the custodian of your own funds, Morpher does not safeguard any private cryptographic keys on behalf of users, including wallets that hold Morpher Tokens. Users who choose to interact with the Morpher blockchain protocols retain full control over their private keys.

Currency Risk: Your account with Morpher will be held in Morpher Tokens (an ERC20 cryptocurrency), accordingly you should be aware of cryptocurrency price fluctuations. Morpher Tokens could result in a loss for the user placing a trade on the Virtual Future, even if the prediction of the underlying's development was correct.

No Counterparty: Morpher Labs is not an exchange, market maker, or brokerage firm. Users place trades by interacting directly with a Virtual Future. The blockchain protocol accepts all orders instantly and automatically. There is no counterparty to a Virtual Future or need for matching with other orders. Users can close their positions instantly and automatically, without the need to find a counterparty or intermediary for their trade.

Supported Markets for Trading: Markets mentioned on this page are used as an example of the type of markets Virtual Futures can be based on. Actual markets available on the Morpher trading platform may vary.