Referral Program Terms Of Use

2.0 HOW THE PROGRAM WORKS

2.1 Invitation Process

To refer a new user:

1. Log in to your Obiex account and navigate to the Referral section.
2. Submit the intended referee’s:

• Full name
• Email address
• Phone number
• Estimated monthly trade volume (optional but encouraged)

3. Upon submission, Obiex will generate a unique, single‑use referral code linked to your account and the intended referee.
4. Obiex will send an email and SMS notification to the intended referee informing them of your invitation and providing instructions to sign up.
5. You may also share the unique referral code directly with the intended referee, who must enter it during the sign‑up process.

Limitations on Invitations:

• You may send a maximum of three (3) referral invitations per week.
• You may send a maximum of ten (10) referral invitations per calendar month.
• These limits apply collectively across both Regular and Prime tiers. Once your weekly or monthly limit is reached, you will be unable to generate new referral codes until the limit resets.

2.2 Unique Referral Code

Each referral code is:

• Unique – tied to a specific referrer and intended referee.
• Single‑use – can only be redeemed by the intended referee during registration.
• Time‑limited – expires thirty (30) days from the date of issuance. If the intended referee does not register and complete the qualifying trade within the validity period, the referral code becomes invalid and no reward will be paid.

Referral codes may not be sold, traded, transferred, or publicly posted on coupon sites, forums, or other mass‑distribution channels. Doing so constitutes abuse and will result in forfeiture of rewards and potential account sanctions.

2.3 Account Activation Date

For the purposes of calculating the 30‑day qualifying period, “Account Activation Date” means the date on which the referred user successfully completes KYC verification at Level 2. The 30‑day clock begins at 00:00 UTC on the day following successful verification.

3.0 REFERRAL REWARDS

3.1 Regular User Referral Tier Rewards

Utility Points Terms:

• Conversion Rate: 1 Utility Point = $0.01 USD (applied as a credit toward trading fees).
• Expiry: Utility Points expire 90 days from the date of issuance. Unused points are forfeited upon expiry.
• Restrictions: Utility Points are non‑transferable, non‑withdrawable, and have no cash value. They may only be used to offset trading fees on the Obiex platform. Full terms governing Utility Points are available in the Obiex Utility Points Terms.

3.2 Prime User Referral Tier Rewards

3.3 Reward Payment

• Rewards are calculated in USD and may be paid in:

• Nigerian Naira (NGN) or other supported fiat currency; or
• Credited to your Obiex account as cash balance.

• Currency Conversion: Where conversion from USD is required, the applicable exchange rate shall be determined by Obiex at the time of reward credit, based on prevailing market rates.
• Rewards are typically credited within fourteen (14) business days after the qualifying condition is met, subject to fraud and compliance checks.
• Obiex reserves the right to delay or withhold payment pending verification of compliance with these Terms and any applicable anti‑fraud or anti‑money laundering policies.

4.0 QUALIFYING TRADE VOLUME

4.1 Definition of Qualifying Trade

A qualifying trade is any purchase, sale, or swap of a cryptocurrency asset (excluding USDT/USDC pairs) executed on the Obiex platform that incurs a trading fee.

4.2 Excluded Transactions

The following do not count toward qualifying trade volume:

• Trades involving USDT/USDC pairs (e.g., USDT/BTC, USDC/ETH, USDT/USDC).
• Deposits, withdrawals, or internal transfers.
• Airtime purchases, bill payments, or other non‑crypto services.
• Trades that are reversed, cancelled, or determined by Obiex to be fraudulent, wash trading, circular trading, market manipulation, or otherwise lacking genuine economic purpose.

4.3 Calculation of Volume

Qualifying trade volume is calculated as the sum of the USD equivalent of each qualifying trade executed during the referee’s 30‑day period beginning on their Account Activation Date. The USD equivalent is determined at the time of the trade using Obiex’s prevailing exchange rate.

Only the referee’s trades count toward the qualifying volume. Trades made by the referrer or any third party are not considered.

4.4 Related Parties and Concerted Activity

Obiex may disqualify referral rewards where the referrer and referee are determined, in Obiex’s reasonable discretion based on objective evidence, to be related parties or acting in concert to artificially generate qualifying trade volume. Such determination may be based on shared IP addresses, device fingerprints, linked payment methods, trading patterns, or any other relevant evidence.

5.0 FRAUD, ABUSE, AND OVERAGE PREVENTION

Obiex maintains a zero‑tolerance policy toward fraudulent or abusive conduct in connection with the Program. Violation may result in forfeiture of current and future rewards, disqualification from the Program, suspension or permanent closure of your Obiex account, and legal action.

5.1 Prohibited Activities

The following activities are strictly prohibited:

• Self‑referral: Creating multiple accounts or referring yourself.
• Solicitation of strangers: Mass, unsolicited, or spam‑like invitations.
• Incentivising registrations: Offering outside inducements to sign up using your referral code.
• Misleading information: Submitting false or inaccurate referee details.
• Artificially inflating volume: Wash trading, circular trading, or any transaction designed solely to meet qualifying thresholds without genuine economic purpose.
• Related party abuse: Collusion between referrer and referee to generate artificial volume.
• Use of automated tools: Bots, scripts, or other automated methods to generate invitations or trades.
• Exploiting system errors: Taking advantage of bugs, glitches, or errors.
• Violation of weekly/monthly limits: Attempting to exceed stated invitation caps through any means.

5.2 Monitoring and Enforcement

Obiex employs automated and manual monitoring to detect suspicious activity. We reserve the right to audit any referral transaction, request additional documentation, reverse any reward credited if fraud or abuse is discovered post‑payment, and report suspected fraudulent activity to relevant authorities.

5.3 Overage Prevention

The weekly and monthly invitation limits are strictly enforced. Attempts to circumvent these limits may result in immediate disqualification.

6.0 PROGRAM COMMUNICATIONS AND PROMOTION

6.1 Eligible Communication Channels

Obiex will promote the Program through the following channels to active users:

• Email
• SMS
• In‑app product placements
• Social media (Twitter, LinkedIn, Instagram, etc.)
• Blog and website content
• Paid advertising campaigns

6.2 User‑Initiated Promotion

You are permitted to share your unique referral code with friends, family, and professional contacts who may have a genuine interest in Obiex’s services. You must not engage in any form of public mass‑marketing of your referral code without Obiex’s prior written consent.

7.0 MODIFICATION AND TERMINATION

7.1 Right to Modify

Obiex reserves the right to modify, suspend, or terminate the Program or any aspect of these Terms at any time, with or without prior notice. Changes may include reward amounts, invitation limits, eligibility criteria, and payment methods. Reasonable efforts will be used to notify participants of material changes; continued participation constitutes acceptance of changes.

Protection of Earned Rewards: No modification shall affect rewards that have been earned prior to the effective date of such modification. A reward is deemed “earned” when the referred user has satisfied all qualifying conditions set forth in these Terms, even if the reward has not yet been paid.

7.2 Termination of Individual Participation

Obiex may terminate your participation immediately if you violate these Terms, Obiex’s Terms of Service, or engage in conduct deemed harmful to the Program. Upon termination, any pending rewards that have not yet been earned will be forfeited.

8.0 LIMITATION OF LIABILITY AND FORCE MAJEURE

8.1 Limitation of Liability

To the maximum extent permitted by applicable law, Obiex shall not be liable for indirect, incidental, special, consequential, or punitive damages, or any loss of profits. Obiex’s total cumulative liability relating to the Program shall not exceed the total amount of rewards actually paid to you under the Program during the twelve (12) months preceding the event giving rise to liability.

8.2 Force Majeure

Obiex shall not be liable for delay or failure to perform due to causes beyond its reasonable control (Acts of God, war, embargoes, pandemics, strikes, etc.). Performance shall be suspended for the duration of the force majeure event.

9.0 GENERAL PROVISIONS

9.1 No Guarantee of Rewards

Participation does not guarantee rewards. Rewards are earned only when all conditions are strictly met.

9.2 Tax Responsibility

You are solely responsible for any taxes or governmental charges on rewards. Obiex may withhold amounts as required by law and may report rewards to tax authorities as required.

9.3 Right of Set‑Off

Obiex may set off amounts you owe against any rewards payable to you under the Program.

9.4 Limitation Period for Claims

No action arising out of these Terms may be brought more than one (1) year after the cause of action has accrued, unless a longer period is required by law.

9.5 Relationship of Parties

Nothing in these Terms creates an agency, partnership, joint venture, employer‑employee, or franchisor‑franchisee relationship between you and Obiex.

9.6 Non‑Assignment

You may not assign any of your rights or obligations under these Terms without Obiex’s prior written consent. Obiex may assign these Terms in connection with corporate transactions.

9.7 Entire Agreement

These Terms, together with the Obiex Terms of Service and Privacy Policy, constitute the entire agreement regarding the Program.

9.8 Severability

If any provision is held invalid, the remaining provisions shall remain in full force.

9.9 Waiver

No failure or delay by Obiex in exercising any right shall operate as a waiver thereof.

9.10 Governing Law and Dispute Resolution

These Terms shall be governed by the laws of the Federal Republic of Nigeria. Disputes shall be subject to the exclusive jurisdiction of the courts of Nigeria, except that injunctive or equitable relief may be sought in any court of competent jurisdiction to protect intellectual property or confidential information.

10.0 CONTACT INFORMATION

If you have any questions about these Terms or the Program, please contact Obiex Support:

Email: [email protected]

In‑app: Help Center > Contact Us

By participating in the Obiex Referral Program, you acknowledge that you have read, understood, and agree to be bound by these Referral Program Terms of Use.