1. Introduction
Welcome to the L1X NFT Tier System. These Terms and Conditions ("Terms") govern your access to and use of the L1X NFT Tier System, including the purchase, earning, and redemption of NFT Tiers within the L1X ecosystem. By participating in the NFT Tier System, you agree to be bound by these Terms, so please read them carefully.
2. Eligibility
2.1 Eligibility Requirements: Participation in the L1X NFT Tier System is open to users who meet the eligibility criteria as determined by L1X. By participating, you confirm that you meet all eligibility requirements.
2.2 Compliance: Users must comply with all applicable laws and regulations in their jurisdiction. L1X is not responsible for any illegal use of the NFT Tier System by users.
3. NFT Tiers
3.1 Tier Structure: The L1X NFT Tier System is composed of multiple tiers, each offering unique benefits and rewards. Users can advance through these tiers by purchasing NFTs or accumulating points through participation in L1X activities and partner campaigns.
3.2 Purchase and Upgrade: Users may purchase Tier NFTs using L1X Coins or other accepted cryptocurrencies.
Promotions regarding purchasing and vesting might vary in time, as per the campaign.
Upgrades to higher tiers can also be achieved by meeting specific performance criteria and redeeming accumulated points.
3.3 Vesting Periods: Certain Tier NFT purchases may include vesting periods, during which the benefits or rewards associated with the purchase are released incrementally. The terms of vesting periods are specified at the time of purchase.
4. Points System
4.1 Earning Points: Users can earn points by performing designated activities within the L1X App or through participation in partner campaigns. The specific actions and the number of points awarded may vary over time.
4.2 Points Redemption: Points can be redeemed for various benefits, including Tier upgrades, access to exclusive content, and other rewards. Points are deducted from the user's balance once redeemed.
4.3 Points Expiration: In Version 1 of the NFT Tier System, points will expire at the end of each calendar month. Points accumulated in subsequent versions may have different expiration terms based on the user’s Tier.
5. Benefits
5.1 Tier Benefits: Each NFT Tier offers specific monthly benefits that are subject to change. These benefits may include multiplier points, access to exclusive events, priority in airdrops, and more. Benefits are periodically reviewed and adjusted to reflect the evolving needs of the L1X ecosystem.
5.2 Benefit Adjustments: L1X reserves the right to modify, discontinue, or replace any benefits associated with the NFT Tier System at any time without prior notice. Such adjustments will be made to ensure alignment with ongoing campaigns, partnerships, and user needs.
6. Changes to the Terms
6.1 Right to Modify: L1X reserves the right to change, amend, or modify these Terms at its sole discretion. Changes may be made to accommodate legal requirements, enhance user experience, or reflect updates in the L1X ecosystem and its partnerships.
6.2 Notification of Changes: Users will be notified of significant changes to the Terms through official L1X channels. Continued participation in the NFT Tier System after such changes constitutes acceptance of the revised Terms.
7. User Responsibilities
7.1 Account Security: Users are responsible for maintaining the security of their accounts, including safeguarding private keys and access credentials. L1X is not liable for any loss or damage arising from unauthorised access to a user’s account.
7.2 Accurate Information: Users must provide accurate and complete information when participating in the NFT Tier System. Failure to do so may result in the forfeiture of points, rewards, or Tier status.
8. Disclaimer and Limitation of Liability
8.1 No Guarantees: L1X makes no guarantees regarding the availability, functionality, or benefits of the NFT Tier System. Participation is at the user's own risk.
8.2 Limitation of Liability: To the fullest extent permitted by law, L1X shall not be liable for any indirect, incidental, consequential, or punitive damages arising from participation in the NFT Tier System.
9. Governing Law
These Terms are governed by and construed by the laws of the jurisdiction in which L1X operates. Any disputes arising from these Terms will be subject to the exclusive jurisdiction of the courts in that jurisdiction.
10. Contact Information
For any questions or concerns regarding these Terms, please contact L1X support through the official channels provided on our website.
By participating in the L1X NFT Tier System, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.