Through the LVL Reach Program, you can invite friends to sign up and create a LVL account by sending them an invitation link (“Reach Link”) obtainable via the LVL interface.
Please share your Reach Link only with people you have a relationship with and who may be interested in becoming a LVL Member.
When a user signs up using a Reach Link, the user is considered a “Referred Account.” Your Descendant is a Referred Account that was created using your Reach Link (a 1st generation Descendant), or the Reach Link of a Referred Account that was created using your Reach Link (a 2nd generation Descendant), and so on for 8 generations of Descendants.
The LVL Membership Fee is assessed on the 1st of the month for all LVL Members. For each of your Descendants that were also a LVL Member at the time the LVL Membership Fee was assessed, you will be paid in a USD-equivalent amount of Bitcoin (“Bitcoin Reward”) within 7 business days of the 1st of the month according to the following schedule and these Reach Program Rules:
- $1.00: 1st generation Descendants (children)
- $0.50: 2nd generation Descendants (grandchildren)
- $0.25: 3rd generation Descendants
- $0.13: 4th generation Descendants
- $0.07: 5th generation Descendants
- $0.04: 6th generation Descendants
- $0.02: 7th generation Descendants
- $0.01: 8th generation Descendants
- $0.00: 9th + generation Descendants
Because LVL Membership may fluctuate throughout the month, your account will display an Estimated Bitcoin Reward, which is the estimated total Bitcoin Reward, in USD value, were the fee to be assessed within the past day.
Bitcoin Reward Calculation
- In determining the quantity of Bitcoin payable as your Bitcoin Reward, LVL will use the price of Bitcoin, within 4 hours of the time the Membership Fee was assessed, sourced from Nomics, Messari, or CoinMarketCap.
- If you are a LVL Member, your Bitcoin Reward is paid in a credit of Bitcoin to your Bitcoin wallet and, once credited, is tradeable and/or spendable immediately.
- If you hold an Eligible Account but are not a Member, your Reach Reward is paid in a Bitcoin-equivalent credit of the Bitcoin Reward (“Bitcoin Reward Credit”) to your account’s Bitcoin wallet. Your available Reach Bitcoin Credit is converted into Bitcoin immediately upon you becoming a Member, at which time this Bitcoin is then immediately tradeable and/or transferrable.
- Note that an Eligible Account which has been verified by LVL for deposits and withdrawals, but which has not been funded with sufficient digital assets to qualify as a Member Account in accordance with the LVL Membership & Fees Policy, may automatically become a Member Account by earning sufficient Bitcoin via Bitcoin Rewards, and may therefore be subject to assessment of the Membership Fee.
- If your account does not become an Eligible Account or a Member Account due to region restrictions, account suspension or termination, failed verification, or any other reason (“Ineligible Accounts”), the aggregate Bitcoin Reward Credit will be displayed on your account’s Bitcoin wallet, for demonstration purposes only. To the extent that your Ineligible Account subsequently becomes an Eligible Account, the Bitcoin Reward Credit will be converted into Bitcoin, and is subject to the same terms and conditions applicable to Member Accounts and Eligible Accounts that are not Member Accounts.
- Your Bitcoin Reward Credits expire after two years if, two years after the Bitcoin Reward Credit is granted, your account is not a Member Account.
Many factors may affect whether a Descendant becomes a LVL Member including but not limited to region eligibility, product market fit, and a potential platform waitlist (“Adoption Factors”). As Samsa Technologies Inc., and the LVL community address the Adoption Factors, more Descendants may be expected to become LVL Members.
Because LVL Membership may be expected to increase over time and to inform you of the long term earning potential of your participation in the Reach Program, your account will display your “Reach”. Your Reach is your Estimated Bitcoin Reward assuming all Descendants were to become LVL Members.
Each Referred Account may sign up for LVL and is provided their own Reach Link after they create their account. Referred Accounts in currently supported regions that may be eligible for LVL membership (“Eligible Accounts”) may apply for and become LVL Members (“Member Accounts”) by passing their know-your-customer screening (“KYC”) and depositing sufficient assets to LVL. Should an account’s combined assets stored on LVL fall below the Membership Fee, as described in the LVL Membership & Fees Policy, the account shall not be considered a Descendant Member Account for the purposes of the Reach Program.
This promotion is not valid with any other offers and is non-transferrable. We reserve the right to modify or terminate this Agreement at any time, in our sole discretion. We may modify this Agreement by providing notice via one or more of the following methods: a) by email to the email account used to create your Level account, b) by updating the ‘last updated’ date listed herein, or C) by your acknowledgement as part of your LVL Account login. LVL reserves the right to terminate this offer or your Reach Link at any time for any reason, and to refuse to recover any Bitcoin Reward if LVL, at its sole discretion, determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, that any rules or regulations would be violated, or that any terms of the LVL User Agreement, LVL Membership & Fees Policy, or LVL Trading Rules have been violated, or any other policy that governs LVL accounts that has been made publicly available by us. LVL is not responsible for any failure of a Referred Account, due to region eligibility, failed KYC screening, or any other reason, to become either an Eligible Account or Member Account. In no event shall LVL be liable for any damages resulting from such termination. Please see the User Agreement for further details.
Nothing contained in these Program Rules shall be construed as creating any agency, partnership, employment of any type or other form of joint enterprise. You shall ensure that you shall not represent to the contrary, either expressly, implicitly, by appearance or otherwise.
You agree to limit the information you provide in connection with the Reach Link to the linked web page and other materials provided first-hand by LVL to the referee, and further agree that you will not provide individuals with recommendations regarding their specific needs or investment decisions. You agree that your participation in the LVL Reach Program will conform to the terms contained herein. If you cannot accurately make the preceding representations, you may not participate in the LVL Reach Program. If you are currently participating in the LVL Reach Program and the preceding representations become inaccurate, you agree to immediately inform LVL at email@example.com.
LAST UPDATED DATE
26 August 2019