1. Overview
These terms, together with the Terms of Use and Privacy Policy, govern participation in the 50k Data Challenge Sweepstakes (the "Sweepstakes"), sponsored by Sophon Labs, a company incorporated under the laws of the Cayman Islands with company registration number 408745 and its registered office at Harbour Place, 2nd Floor, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands (the "Sponsor").
The Sweepstakes is intended to incentivize engagement with Sophon and its ecosystem, and is subject to all applicable federal, state, provincial, territorial, and local laws, rules, and regulations. By entering, each participant ("Entrant") unconditionally agrees to be bound by and comply with these Rules, the decisions of Sponsor (which are final and binding in all matters related to the Sweepstakes), and any other requirements set forth by Sponsor.
The Sweepstakes is void where prohibited or restricted by law. No purchase or payment is necessary to enter or win, and a free alternative method of entry is provided. Entry or participation does not constitute investment advice, a recommendation to engage in cryptocurrency transactions, or an offer of securities. Receipt and use of any prize involving cryptocurrency is subject to volatility, regulatory, and technical risks as further described herein. By participating, Entrants acknowledge that they have read, understood, and agree to these Rules in their entirety.
2. Entry
The Sweepstakes is a random-draw sweepstakes. During the Promotion Period (as defined in Section 4), Entrants may earn one entry by signing in to their Sophon account at https://50k.sophon.xyz (the "Website").
Additionally, Entrants may earn one or more entries by sharing data by connecting applicable third-party applications ("Connections") to the Website. Each eligible Connection equals one entry. If an Entrant revokes a Connection during the Promotion Period, the related entry will become invalid. No purchase or payment is required to participate in the Sweepstakes.
3. Eligibility
Open only to legal residents who are at least the age of majority in their state and/or country at the time of entry. Sweepstakes are void where prohibited by law (including, but not limited to, the States of New York, Florida, Rhode Island, and Belgium, Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, Oman, Russia, China, Vietnam, Indonesia and Quebec) and any jurisdiction subject to comprehensive trade, export, or financial sanctions or where Entrant is a prohibited person under sanctions or export-control laws.
Employees, officers, and directors of Sponsor, its affiliates, advertising/promo agencies, and their immediate family/household members are not eligible. Sponsor may exclude additional territories due to licensing/permit requirements or local law.
4. Promotion Period
Begins October 20th at 12pm UTC and ends December 1st at 12pm UTC ("Promotion Period"). Sponsor's servers are the official time-keeping device.
5. Entry Limits & Prohibited Conduct
There is a limit of 25 entries per Entrant during the Promotion Period, regardless of the method of entry. Automated/bulk entries, bots, scripts, or fraud of any kind are prohibited. Sponsor may disqualify tampered, incomplete, or non-compliant entries. Using multiple accounts/wallets/identities to exceed the limit is prohibited. Entries must comply with applicable law.
6. Prize; Approximate Retail Value ("ARV"); Token Valuation & Delivery
The total prize will be USD $50,000 worth of $SOPH, i.e. an ARV of USD $50,000. The prize will be allocated as follows:
| Tier | Winners | Prize per winner | Total payout |
|---|---|---|---|
| Grand Prize | 1 | $10,000 | $10,000 |
| Gold Tier | 3 | $2,000 | $6,000 |
| Silver Tier | 10 | $1,000 | $10,000 |
| Bronze Tier | 200 | $50 | $10,000 |
| Participation | 2,800 | $5 | $14,000 |
| TOTAL | 3,014 | N/A | $50,000 |
Valuation
Token quantity determined using the time-weighted average price (TWAP) across major exchanges during the 7-day period immediately prior to the conclusion of the Promotion Period.
Delivery
Prize delivered to winner's compatible wallet address on Sophon network. Sponsor will pay ordinary on-chain transfer fees to deliver the Prize. Winner is solely responsible for wallet security (including private keys), any subsequent gas/bridge fees, slippage, and any taxes. If delivery of the Prize is impracticable or unlawful in Entrant's jurisdiction, Sponsor may, in its sole discretion, substitute cash or another prize of equal or greater value.
Volatility & Forks
Token prices fluctuate; actual market value at or after delivery may be higher or lower than ARV. In case of a hard fork, airdrop, or network disruption, Sponsor may reasonably determine the method and asset to fulfill the Prize.
7. Winner Selection & Odds
On or about the conclusion of the Promotion Period, but not later than 30 days after the conclusion of the Promotion Period, Sponsor will conduct a random drawing from all eligible entries received. Odds depend on the number of eligible entries.
Every Entrant that earned entries will have the wallet linked to their Sophon account sit on a single list. When it is time to draw winners, Sponsor will use a future block on the Sophon blockchain (something no one can predict in advance) to generate the randomness we need. That random value decides which spot on the list wins a prize. Once a winner is chosen, we proceed to the next, repeating the process until all prizes are awarded.
8. Winner Notification & Verification
The winners will be notified through our public channels (e.g. on X (Twitter)) as soon as reasonably practicable after the drawing. To claim a prize, a winner may need to complete any requested identity verification/KYC and tax documentation.
If a potential winner is ineligible, cannot be contacted, fails to timely return documents, fails KYC/sanctions screening or does not claim the prize within 60 days after it is made available for claim, the prize will be forfeited.
9. Taxes
All federal, state, and local taxes are the winner's sole responsibility. Sponsor may withhold where required by law and may issue tax forms as required in the winner's country.
10. Publicity
Where permitted by law, acceptance of the prize constitutes permission for Sponsor to use winner's name, likeness, and city/state for advertising/trade purposes without further compensation.
11. Compliance; KYC/AML; Sanctions; Export Controls
Participation is subject to all applicable laws. Sponsor may require identity verification and screening against sanctions lists prior to prize award. Entrants must not be residents of, or ordinarily located in, comprehensively sanctioned jurisdictions, and must not be listed on sanctions lists.
12. Data & Privacy
Sponsor's collection/use of personal data is governed by https://sophon.xyz/privacypolicy. Data will be used to administer the Promotion (e.g., entry processing, eligibility verification, prize fulfillment) and as otherwise disclosed in the Privacy Notice.
Personal data are processed to administer the Promotion and as set out in https://sophon.xyz/privacypolicy. Sponsor acts as controller; lawful basis is consent for administering entries, running draws, contacting winners, and fulfilling prizes; data may be transferred outside the EEA/UK subject to appropriate safeguards. Entrants have rights of access, rectification, erasure, restriction, objection, and portability under GDPR/UK GDPR.
13. General Conditions & Limitations of Liability
Sponsor is not responsible for lost, late, misdirected, corrupted, or incomplete entries; network/website/app outages; or force majeure. Sponsor may cancel, suspend, or modify the Promotion if fraud, technical failures, or any factor impairs integrity. By participating, Entrants release Sponsor and its affiliates from any claims arising out of participation or prize receipt/use, except where prohibited. No more than the stated prize(s) will be awarded.
SPONSOR HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE.
SOME JURISDICTIONS DO NOT ALLOW EXCLUSION OF WARRANTIES OR LIMITATIONS ON THE DURATION OF IMPLIED WARRANTIES, SO THE ABOVE DISCLAIMER MAY NOT APPLY TO YOU IN THEIR ENTIRETIES, BUT WILL APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.
IN NO EVENT WILL SPONSOR, ITS AFFILIATES OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE WEBSITE, ANY WEBSITES LINKED TO THEM, ANY CONTENT ON THE WEBSITES OR SUCH OTHER WEBSITES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITES OR SUCH OTHER WEBSITE, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT OR OTHERWISE, EVEN IF FORESEEABLE. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW WHICH MAY INCLUDE FRAUD.
14. Indemnification
You agree to defend, indemnify, and hold harmless Sponsor, its affiliates, licensors, and service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors, and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising out of or relating to your violation of these Rules.
15. Governing Law and Jurisdiction
All matters relating to the Sweepstakes and these Rules and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the internal laws of the Cayman Islands without giving effect to any choice or conflict of law provision or rule (whether of the Cayman Islands or any other jurisdiction).
Any dispute arising out of or in connection with the Websites and these Terms of Use, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the rules of the London Court of International Arbitration, which rules are deemed to be incorporated by reference into this clause. The number of arbitrators shall be one. The seat, or legal place, of arbitration shall be the Cayman Islands. The language to be used in the arbitration shall be English.
You and Sponsor agree to submit all Disputes between you and Sponsor to individual binding arbitration. "Dispute" means any dispute, claim, or controversy between you and Sponsor that relates to the Sweepstakes and these Rules. If a Dispute must be arbitrated, you or Sponsor must start arbitration of the Dispute within one (1) year from when the Dispute first arose. If applicable law requires you to bring a claim for a Dispute sooner than one (1) year after the Dispute first arose, you must start arbitration in that earlier time period.
Sponsor encourages you to tell us about a Dispute as soon as possible so we can work to resolve it. The failure to provide timely notice will bar all claims. In any Dispute, the arbitrator will award to the prevailing party, if any, the costs and attorneys' fees reasonably incurred by the prevailing party in connection with those aspects of its claims or defenses on which it prevails, and any opposing awards of costs and legal fees awards will be offset.
Any breach by you of these Rules could cause Sponsor irreparable harm for which it has no adequate remedies at law. Accordingly, Sponsor is entitled to seek specific performance or injunctive relief for any such breach. Nothing in this section will preclude Sponsor from seeking specific performance or injunctive relief from a court of appropriate jurisdiction.
16. Waiver and Severability
No waiver by Sponsor of any term or condition set forth in these Rules shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of Sponsor to assert a right or provision under these Rules shall not constitute a waiver of such right or provision.
If any provision of these Rules is held by a court or other tribunal of competent jurisdiction to be invalid, illegal, or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Rules will continue in full force and effect.
17. Entire Agreement
The Rules, our Privacy Policy and Terms of Use your participation in the Sweepstakes constitute the sole and entire agreement between you and Sponsor with respect to the Sweepstakes and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the Sweepstakes.