TNQ Token

TNQ
LOCKING POLICY


    This Locking Policy (“Policy”) outlines the Terms and Conditions that govern the legal relationship between TNQ (“TNQ,” “we,” “our” or “us”) and client (“Client” or “You”). This Policy shall be used for Locking Digital Asset with TNQ for the purpose of gaining Locking Rewards as defined below and is not used for any other services offered by TNQ. Client represents that, whether on their personal behalf or for an institution or company, Client has the authority to legally Lock Digital Asset to TNQ and adhere to the Terms and Conditions listed in this Policy.

    By participating in Locking with TNQ, you acknowledge that you have read, understood, and accepted all of the Terms and Conditions in this Policy, and you acknowledge and agree that you will be bound by and will comply with this Policy. If you do not understand and accept this Policy in its entirety, you should not participate.

    Definitions
    Terms used in this Policy with their initial letters capitalized have the meanings ascribed to them in this section or where they are elsewhere defined in this Policy. Any term defined in the singular will have the corresponding definition in the plural (and vice versa). As used in this Policy:

    Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organisation of which TNQ is a member), that are applicable to the provision, receipt or use of the TNQ Services, or any other products or deliverables provided, used or received in connection with these terms.
    Applicable Network means any blockchain network for which TNQ Platform is able to perform the Services.
    Applicable Network Protocol means the set of technical rules, standards, and procedures that govern the communication, interaction, and operation within the Applicable Network. This protocol includes, but is not limited to, consensus mechanisms, data structures, and transaction formats necessary for the TNQ's functionality and integration within the network.
    Auto-lock means a feature that allows Client to automatically relock their Token according to their preceding Locking Offer without having to manually do so.
    Client/Clients means the Party using the Service to gain Locking Rewards.
    Digital Asset/Digital Assets means a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology, or similar technology. This includes, but is not limited to, cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and tokenized derivatives of other Digital Assets.
    Party/Parties means you or us, as applicable, and “Parties” means you and us collectively.
    Platform means the technology platform and infrastructure that TNQ may make accessible to you via a website, an API, or by such other means to perform the Service.
    Reward Currency means the digital currency in which Locking Rewards will be provided to you, attributed to the Locked Asset.
    Services means our provision of a platform for Clients to lock their Token, which includes, without limitation, managing and operating locking pools, distributing rewards, and providing support.
    Settlement Date means the maturity date of the Locking Offer, 12:00 AM (GMT+8) on the final day of the Locking Duration.
    Locked Asset means the Digital Asset that Client has Locked with the Service.
    Lock/Locking/Locked means the TNQ Service identified as “TNQ Locking” on the Platform, allowing you to participate in Locking in accordance with these Terms to gain Locking Rewards.
    Locking Duration means the agreed period during which the Locked Asset must be delegated to TNQ in order for you to be entitled to Locking Rewards.
    Locking Offer means an offer by TNQ to lock Digital Asset on an Applicable Network using the Platform, in accordance with these Locking Terms.
    Locking Rewards means the Digital Asset that is provided to you as consideration for subscribing to a Locking Offer, in accordance with these Locking Terms.
    Locking Yield means the percentage yield at which Locking Rewards is calculated and published on the TNQ Service identified as “TNQ Locking” on the Platform.
    Subscribe/Subscribing/Subscribed/Subscription means subscribing to a Locking Offer.
    Terms/Locking Terms means the Terms and Conditions of this Locking Policy, as amended or supplemented from time to time.
    TNQ Account means any accounts opened by TNQ for you to record your use of TNQ Services.
    TNQ Client Portal/Client Portal means the online platform provided by TNQ through which the Client can manage their account, access services, view transaction history, perform transactions, and interact with TNQ. The Client Portal serves as the primary interface for Client to engage with TNQ‘s offerings and manage their holdings, including TNQ.
    TNQ/Token means the Digital Asset owned by TNQ.
    Unlock/Unlocking means when you instruct TNQ to transfer Locked Asset to your Wallet within TNQ Client Portal before the Settlement Date.
    Wallet means the registered custodial wallet, non-custodial wallet, or TNQ Account used to store TNQ in the Wallet within the TNQ Client Portal.
    Website means any website managed and maintained by TNQ in connection with the Services including, but not limited to https://tnqtoken.io.

    1. Relationship with TNQ
      2. You understand and agree that by electing to participate in TNQ Locking:
      1. TNQ has authority over your Locked Assets; and
      2. once this is done, your Locked Assets will no longer be held by you.

      TNQ Locking is a Service that, among other things, provides you with:
      1. a means by which you are able to participate in Locking; and
      2. an income stream, where you will receive Locking Rewards at a frequency agreed with TNQ.

      In consideration for providing you with the Services described in this Policy, TNQ does not charge any fees.

    2. Responsibilities
      1. During the Term (as defined below), TNQ will provide the following:
        1. the Service will be operated in a diligent and professional manner and in accordance with applicable industry standards; and
        2. reasonable security safeguards will be employed by TNQ to protect the integrity and availability of the Services;
      2. During the Term, the Client shall provide the following:
        1. Locked Asset to TNQ’s validator account when the Client wants to receive Locking Rewards;
        2. Token can be locked or Unlock at Client discretion, however, in all cases Locked Token will be subject to TNQ’s discretion. This includes but is not limited to the locked-in period, penalties, and ineligibility to receive Locking Rewards;
        3. Clients are responsible for maintaining the security of their accounts and keys at all times. TNQ will never request private keys under any circumstances. TNQ does not hold Clients’ private keys and will not act as a custodian of Clients’ funds; and
        4. Clients are expected to have knowledge of blockchain technology, locking, accounts, keys, and details of the Applicable Network and Applicable Network Protocol. They are further expected to have conducted their own thorough investigation of the Applicable Network, Token, and other matters considered in this Policy in determining whether to Lock Token with the Service.

    3. Services and Service Level Agreement
      1. Payment of Locking Rewards
        2. Clients will receive Locking Rewards directly attributable to their Locked Token. The percentage and timing of such remittances are determined based on TNQ’s Terms. TNQ is solely responsible for the Services and Locking Rewards payments.

      2. Transfers of Rewards
        3. Any transfer of Locking Rewards will be subject to TNQ. Generally, payments will be made by the TNQ to the Wallet from which the Token were Locked.

      3. Locking Rewards Handling
        4. TNQ will not accept, take control of, or hold custody of any Locking Rewards on behalf of the Client. TNQ provides the Services and compensates Clients directly with Locking Rewards.

      4. Service Level Agreement
        5. TNQ agrees to compensate Clients for missed Locking Rewards to the extent that they arise from the availability of Service. This does not include missed Locking Rewards arising from Client acts or omissions, Applicable Network maintenance, software bugs native to Applicable Network, acts by a hacker or other malicious actor, Applicable Network stalls, Applicable Network Protocol changes resulting in changes to Locking Rewards, Force Majeure Events, or any other action outside of TNQ’s control.

    4. How to Participate in Locking
      1. When you Subscribe to a Locking Offer, you will be prompted to agree to all of the following terms on the Platform:
        1. the Locking Duration;
        2. the Applicable Network;
        3. the Locked Assets;
        4. the Locking Rewards;
        5. Auto-Locking;
        6. Unlocking; and
        7. the Reward Currency;
      2. TNQ may specify:
        1. minimum amounts of Token that are required to Subscribe to a Locking Offer; and
        2. any Subscription limits.

    5. Dealing With Locked Asset

      6. When you Subscribe, you instruct TNQ to transfer your Locked Asset for Locking Locked Asset will be immediately returned to your Wallet after the Settlement Date unless you have elected to Auto-Lock. The time between the Settlement Date and when your Locked Asset is returned to your Wallet does not form part of the Locking Duration. You do not earn Locking Rewards during this time.


    6. Locking Duration
      7. Client has one (1) Locking Offer to select from. The Client commits to Lock for the chosen Locking Duration. The Client understands that the amount of Token locked will be Locked and able to Unlock the Locked Asset before the Settlement Date. However the Client will forfeit the entire Locking Rewards associated with the Locking Offer to which the Client Subscribed in accordance with Clause 9. Locking Rewards will be distributed upon the completion of the Locking Duration.
      1. Locking Offer Option
        1. Lock-in Period of forty-five (45) days

    7. Locking Rewards
      1. Locking Rewards:
        1. Locking Rewards start accruing from the day after you Subscribe. Locking Rewards are distributed upon maturity date;
        2. will be promptly distributed to your Wallet after the Settlement Date;
        3. are applied to Locked Asset only;
        4. are distributed in a Reward Currency attributed to the Locked Asset;
        5. are calculated by reference to the Locking Yield; and
        6. are rounded down to five (5) decimal places;
      2. Locking Yield is published on the Website and may change from time to time based on TNQ’s discretion; and
      3. TNQ does not guarantee that you will receive the Locking Rewards at the Locking Yield shown at the time you Subscribe. Any representation concerning possible return at the time you Subscribe:
        1. is an estimate only and not guaranteed; and
        2. is based on the Locking Yield, which may change.

    8. Auto-Lock
      1. You may choose to automatically Lock your Locked Asset to a new Locking Offer before the Settlement Date by enabling the Auto Lock function, utilizing both the Locked Asset and Locking Rewards from the previous Locking Offer;
      2. The new Locking Offer will entail relocking the same quantity of Locked Asset, along with their respective the Locking Rewards and Locking Duration, as stipulated in the preceding Locking Offer;
      3. The Auto Lock function will continue to operate automatically unless disabled by you. The Locked Asset, along with Locking Rewards, will be relocked for the duration of the Locking Period; and
      4. You have the option to modify your Auto-Lock Instructions at any time before the day preceding the Settlement Date of the preceding Locking Offer.

    9. Unlock
      1. Should you choose to Unlock your Locked Asset before the Settlement Date, you will forfeit the entire Locking Rewards associated with the Locking Offer to which you subscribed;
      2. Should you opt to Unlock your Locked Asset before the Settlement Date, please note that the Unlocking process may take up to seven (7) days to complete, during which your Locked Asset will be returned to your Wallet;
      3. In the event that you decide to Unlock your Locked Asset prior to the Settlement Date, you are only permitted to Unlock the entire Token; partial Unlocking is not permissible; and
      4. If you have initiated multiple Locking, you have the option to unlock either one or all of them, but partial Unlocking of any single Locking is not permitted.

    10. Risks & Liability
      11. In addition to the risks identified in the Risk Warning Statement, you must also consider carefully all the risks arising out of participating in a Locking, including but not limited to:
      1. the risk that the Digital Assets you used to Subscribed may be lost because, among other things:
        1. you are placing your Digital Assets directly into TNQ;
        2. TNQ cannot guarantee the return of Locked Asset; and
        3. events may occur at the protocol level (including, but not limited to, hacks, exploits, or poor economic models), that are outside of TNQ’s control;
      2. the inherent risks, including, but not limited to, the protocol, and the use of your Token; and
      3. whether the Applicable Network suspends, discontinues, or terminates its business, closes down, suspends, or stops trading.

      Clients shall indemnify, defend, and hold TNQ harmless from and against all claims, suits, and actions brought against TNQ by a third-party, and all resulting liabilities, damages, losses, and costs awarded by a court or included as part of a final settlement (in addition to reasonable attorney’s fees and disbursements), arising from or relating to Client’s use of the Service in a manner that breaches the Terms and Conditions of this Policy or violates laws or regulations.

    11. Taxes
      12. Client shall be responsible for payment of all taxes, fees, and surcharges, however designated, imposed on or based upon the use of the Services and income obtained by the use of Services.

      Neither TNQ nor any of its agents shall provide any advice or guidance with respect to the tax obligations of the Client. You are strongly encouraged to seek advice from your own tax advisor to discuss the potential tax consequences of receiving incomes from the use of Services.

    12. Terms & Termination
      1. The Terms of this Policy will begin on the date that the Client first Lock Token with TNQ;
      2. Either party may terminate this Policy at any time for any or no reason;
      3. Upon the termination of this Policy, provided that the Client is not in material breach of this Policy, the Client will cease Token Locking with TNQ;
      4. Upon termination of this Policy, all licenses to access and use the Service will likewise terminate, and the Client will immediately thereafter discontinue all such access and use; and
      5. Any obligations and duties, that by their nature, extend beyond the expiration or termination of this Policy will survive the expiration or termination of this Policy, including, without limitation, accrued rights to payment, confidentiality obligations, warranty disclaimers, indemnification, and limitations of liability.

    13. Placing a Stop or Suspension on, Cancelling Your Access, or Discontinuation of Service
      14. TNQ may stop, suspend, or cancel your access to the Platform, impose limits to your TNQ Account(s), suspend, or cancel your ability to participate in TNQ Service, delay certain transactions, or discontinue its Service where:
      1. you do not provide additional information to verify your identity or source of funds as requested by TNQ;
      2. TNQ is required to do so by court order, to comply with any Applicable Laws (including anti-money laundering or sanctions laws);
      3. TNQ is required to do so to comply with any direction or instruction from a government body or agency;
      4. TNQ reasonably determines that any information you have provided to TNQ is wrong, untruthful, outdated, or incomplete; or
      5. you do not provide additional information that we request to our reasonable satisfaction or in a timely manner.

    14. Warranties and Disclaimers
      15. Each party represents and warrants to the other party that it has the requisite power and authority to enter into this Policy and to carry out all activities and transactions contemplated hereunder. TNQ warrants that TNQ will provide the Service in a professional and diligent manner and in accordance with applicable industry standards. Except as expressly provided herein, neither party makes any warranty or representation of any kind, whether express, implied, statutory, or otherwise, and each Party specifically disclaims all implied warranties, including any implied warranty of merchantability, title, fitness for a particular purpose, or non-infringement. TNQ specifically disclaims all liability and obligations with respect to any third-party providers. TNQ makes no representations or warranties with regard to the potential market for the Service or the amount of net rewards that may be generated hereunder.

    15. Limitation of Liability
      16. Notwithstanding any other provision of this policy, TNQ will not be liable for any indirect, special, and/or consequential damages arising out of or in connection with this Policy. In no event will TNQ’s aggregate liability under this Policy, whether based on contract, equity, negligence, tort, or otherwise, exceed the net rewards or revenue paid to the Client hereunder during the six (6) months prior to the event giving rise to the claim.

    16. General Terms
      1. All Terms and references used in these Terms and defined and construed in TNQ’s Terms of Use (the Terms of Use), but are not defined or construed in these Terms, shall have the same meaning and construction as in the Terms of Use ;
      2. These Terms are to be read together with the Terms of Use. In the event of any conflict or inconsistency between these Terms and the Terms of Use, the order of precedence in which the documents are to be read is first these Terms and then the Terms of Use;
      3. TNQ will contact you using the details you have provided. This may include contacting you by email, SMS, or telephone. It is important that you ensure that your contact details are correct and up to date. If your contact details change, you must let us know immediately. If you do not, TNQ will not be responsible for any failure to receive information, notices, or other important information from TNQ;
      4. TNQ may give notice by email to your email address. It is your responsibility to ensure that the email address is up-to-date and accurate. Notices may be given and are deemed to be received if sent to your email address, whether or not a notice of delivery failure is received;
      5. You may give us notices only in the manner TNQ directs, which may change from time to time;
      6. Any notices, consent, or other communications given under these Terms must be in writing, in English, and signed or otherwise authorized by the party giving them; and
      7. For more information on TNQ, you may refer to TNQ and license information found on the website. If you have questions regarding these Terms, please feel free to contact us for clarification via our Customer Support team, [email protected].

    17. Communication
      18. TNQ may communicate with Client regarding Locking Terms through the contact information provided by the Client.

      The Client is responsible for ensuring that their contact information is accurate and up-to-date.

    18. Commitments
      19. TNQ has made no commitments or promises orally or in writing with respect to the delivery of any future returns, features or functions of the Services. In relation to any future features or functions, all presentations, requests for proposal responses, and/or product roadmap documents, information, or discussions, either prior to or following the entering into of this Policy, are for informational purposes only, and TNQ shall have no obligation to provide any returns, future releases or upgrades, or any features, enhancements, or functions unless specifically agreed to in writing by both parties. Client acknowledges that no decisions are based upon any future features or functions of the Services.

    19. Notices
      20. Except as otherwise provided in this Policy, all notices under this Policy must be in writing and given by personal delivery, recognized national overnight courier service, or by Malaysia registered or certified mail, return receipt requested.

      Notices given to TNQ must be delivered to:

      Unit 33-05, Menara The Stride,
      Bukit Bintang City Centre,
      No 2, Jalan Hang Tuah,
      55100 Kuala Lumpur, Malaysia.


      TNQ may change the address to which notice must be delivered to it by providing notice of such updated address in accordance with this section.

    20. Changes to This Policy
      21. TNQ may revise this Policy from time to time and will post the most current version on its Website. If a revision materially amends the Policy, TNQ will notify the Client (for example, the TNQ Token‘s Twitter Account, TNQ Telegram group or on TNQ’s Website). The Client agrees to review the Policy from time to time. By continuing to use or access the Service after the revisions come into effect, Client agrees to be bound by the revised Policy.

    21. Force Majeure
      22. TNQ shall be excused from any delay or failure in the performance of this Policy to the extent such delay or failure is caused by wildfire, flood, explosion, war, embargo, governmental requirement, civil or military authority, Act of God, or any other causes beyond its reasonable control. Any such delay or failure shall suspend TNQ’s obligations to perform under this Policy until the cause for the delay or failure is removed.

    22. No Waiver
      23. No Terms or provision herein shall be waived, and no breach or default excused, unless such waiver or consent is in writing and signed by the party to which it is attributed. No consent by a party to, or waiver of, a breach or default by the other party, whether expressed or implied, shall constitute consent to or waiver of any subsequent breach or default.

    23. Severability
      24. If any provision of this Policy is held to be invalid or unenforceable, the invalidity or unenforceability shall not invalidate this Policy or render this Policy unenforceable; rather, this Policy shall be deemed modified to the least extent necessary to make it enforceable, and all other provisions of this Policy will remain unaffected.

    24. Assignment
      25. TNQ reserves the right to assign this Policy without the prior written consent of the other party.

    25. Governing Law
      26. This Policy shall be interpreted, construed and enforced in accordance with the internal laws of Labuan, without regard to its conflict of laws principles.