Bonzo Points Program Terms and Conditions

Last Updated: December 26, 2024

1. Acceptance of Terms

1.1. These Terms and Conditions ("Terms") govern participation in the Bonzo Points Program ("Program") operated by Bonzo Finance Foundation ("Bonzo Finance Foundation", "we", "our", or "us"). By participating in the Program, you ("User" or "you") accept and agree to be bound by these Terms. If you do not agree to these Terms, you may not participate in the Program.

2. Program Overview

2.1. The Program rewards Users who supply liquidity to and borrow liquidity from the Bonzo Finance protocol. The Program's structure, mechanics, and rewards, including but not limited to point calculations, distribution methods, and schedules, may be modified, suspended, or terminated at any time and for any reason at the sole discretion of Bonzo Finance Foundation, without prior notice to Users.

2.2. The Program is currently planned to consist of the following phases, which may be modified, extended, shortened, or cancelled at any time:

  • Pre-Season Points Airdrop: A token-weighted distribution phase
  • Season One: October 28, 2024 - February 28, 2025
  • Season Two: March 1, 2025 - May 31, 2025
  • Season Three: June 1, 2025 - August 31, 2025

2.3. Points are planned to be distributed based on the following criteria, subject to change at any time without notice:

  • During Pre-Season: Based on token-weighted snapshots of supported assets
  • During Regular Seasons: Based on the dollar value of assets supplied and borrowed, calculated on a 24-hour basis
  • Supply Points: 4 points per $1 USD of token value supplied (reduces to 2 points after borrowing is enabled)
  • Borrow Points: 8 points per $1 USD of token value borrowed

2.4. Current NFT Multiplier Effects, which may be modified or eliminated at any time:

2.4.1 1st Edition Bonzo Finance NFT Collectible Base Multipliers:

  • Desert Bonzo: 1.1x multiplier
  • Ocean Bonzo: 1.2x multiplier
  • Space Bonzo: 1.3x multiplier
  • Singularity Bonzo: 1.5x multiplier

2.4.2 Special Cybernetic Bonzo NFT Multipliers:

  • Cybernetic Bonzo: 1.05x multiplier per NFT held
  • Unique Stacking Feature: Multiple Cybernetic Bonzo multipliers can be combined with each other and with one (1) Base NFT multiplier
  • Maximum Combined Multiplier: The total multiplier from all NFTs cannot exceed 2.0x
  • Calculation Method: Base NFT multiplier (if any) + (Number of Cybernetic Bonzos * 0.05), capped at 2.0x

3. No Monetary Value and Non-Transferability of Points

3.1. Users expressly acknowledge and agree that Bonzo Points have no monetary value, real or implied.

3.2. Bonzo Points are non-transferrable and have no cash value.

3.3. Bonzo Points cannot be bought, sold, or exchanged for cryptocurrency or any other form of value.

3.4. The accumulation of Bonzo Points does not entitle Users to any equity, revenue, or profit share in Bonzo Finance Foundation or any affiliated entity.

3.5. At the end of each season, Bonzo Points serve as a reference for the distribution of $BONZO tokens. This distribution process does not constitute an exchange or conversion of Bonzo Points to $BONZO tokens.

4. Point Calculation, Distribution, and $BONZO Token Allocation

4.1. Point calculation methods are determined by Bonzo Finance Foundation and may vary between phases of the Program.

4.2. For Pre-Season points:

  • Points are distributed based on token-weighted snapshots
  • Distribution occurs according to published schedules
  • NFT multipliers are applied to point earnings

4.3. For Season points:

  • Points are earned continuously based on protocol activity
  • Points are calculated based on USD value of supplied and borrowed assets
  • NFT multipliers are applied to point earnings

4.4. Bonzo Finance Foundation reserves the right to:

  • Modify point calculation methods
  • Adjust distribution schedules
  • Change point earning rates
  • Update NFT multiplier values
  • Make any other changes to the Program mechanics

4.5. At the end of each season, Bonzo Points serve as a reference for $BONZO token allocation. The conversion rate between Points and tokens:

  • Is determined solely by Bonzo Finance Foundation
  • May vary between seasons
  • Will be announced at Bonzo Finance Foundation's discretion
  • Is not guaranteed or fixed

4.6. Users have no right to demand:

  • A specific conversion rate
  • A particular allocation of $BONZO tokens
  • Any other compensation based on accumulated Points

5. Eligibility and Disqualification

5.1. Participation Eligibility:

  • Must comply with all applicable laws and regulations
  • Must not be a citizen or resident of prohibited jurisdictions
  • Must not be subject to sanctions or restrictions
  • Must be of legal age in your jurisdiction

5.2. Bonzo Finance Foundation reserves the right to:

  • Deny participation to any User
  • Modify eligibility criteria
  • Request verification information
  • Terminate participation at its discretion

5.3. Prohibited Activities:

  • Attempting to manipulate or exploit the Program
  • Using automated systems or bots
  • Creating multiple accounts
  • Engaging in fraudulent activity
  • Violating these Terms or applicable laws

5.4. Consequences of Violation:

  • Immediate disqualification
  • Forfeiture of accumulated Points
  • Possible legal action
  • Ban from future participation

6. Modification and Termination

6.1. Bonzo Finance Foundation reserves the right to:

  • Modify the Program at any time
  • Suspend or terminate the Program
  • Change these Terms
  • Adjust point calculations or distributions
  • Make any other changes deemed necessary

6.2. Changes may be made:

  • Without prior notice
  • With immediate effect
  • At Bonzo Finance Foundation's sole discretion

6.3. Continued participation after changes constitutes acceptance of modified Terms.

7. Disclaimers and Limitations of Liability

7.1. The Program is provided "AS IS" and "AS AVAILABLE" without warranties.

7.2. Bonzo Finance Foundation disclaims all warranties, including:

  • Merchantability
  • Fitness for purpose
  • Non-infringement
  • Accuracy of point calculations
  • Availability of the Program
  • Security of the Program

7.3. Limitation of Liability:

  • No liability for lost Points
  • No liability for technical issues
  • No liability for changes to the Program
  • No liability for $BONZO token allocation
  • Maximum liability limited to $100 USD

7.4. Users participate at their own risk and acknowledge:

  • Market risks
  • Technical risks
  • Regulatory risks
  • Other associated risks

8. Privacy and Data

8.1. Participation in the Program requires:

  • Connection of digital wallet
  • Sharing of transaction data
  • Monitoring of protocol activity

8.2. Data Collection and Use:

  • Point calculations
  • Activity tracking
  • Eligibility verification
  • Program administration

8.3. Data protection and privacy are governed by our Privacy Policy.

9. Governing Law and Dispute Resolution

9.1. These Terms shall be governed by and construed in accordance with the laws of the Cayman Islands.

9.2. Any dispute shall be resolved exclusively through:

  • Initial good faith negotiation
  • Mandatory mediation in the Cayman Islands
  • Final binding arbitration under CICA Rules

9.3. Class Action Waiver:

  • Users waive right to class actions
  • Claims must be brought individually
  • No collective proceedings

10. Miscellaneous

10.1. Entire Agreement:

  • These Terms constitute the complete agreement
  • No other representations are binding
  • Previous versions are superseded

10.2. Severability:

  • Invalid provisions shall be modified
  • Remaining provisions remain in effect
  • Purpose of Terms shall be preserved

10.3. No Waiver:

  • Failure to enforce is not waiver
  • Rights and remedies are cumulative
  • No single waiver implies future waiver

10.4. Assignment:

  • Users cannot assign rights
  • Bonzo Finance Foundation may assign rights
  • Transfer requires written consent

11. Contact

For any questions about these Terms or the Program, please contact [email protected]