OKX JUMPSTART: All you need to know
Users using OKX, a world leading cryptocurrency exchange, are open to a lot of potential earning opportunities. There are enough ways of passively making gains without having to read charts or fill orders, OKX is more than just a cryptocurrency exchange when interacted with maximally. There is a feature on OKX called Jumpstart where active users can get to make profits by holding the exchange's native token.
OKX Jumpstart is launched by OKX as a token sale platform aimed at helping quality blockchain projects go public and get listed in a liquid and world-class market, while helping to fuel the growth of the blockchain market and ecosystem healthily. This platform is also used by OKX to create wide interests for the projects launched on it among users while at the same time providing an extra use-case for OKB (OKX utility token), as users that would want to earn from Jumpstart will need to hold a certain amount of OKB.
How does OKX Jumpstart work?
The approach used is called a subscription + allotment approach, which refers to a period of time where users will be allowed to pay in advance and get allotment slots when the subscription period is over. The duration of time for subscription period is 30 minutes which can close early if the oversubscription limit is reached, allotment follows shortly after.
It is to be noted that OKB is the only accepted token for the token sale. Each token sale will have its own individual cap, which will be announced before the sale.
Participation in OKX Jumpstart.
There is a Minimum threshold, a way to secure subscription and how to get more from this.
- Minimum threshold: Users need to hold at least 500 OKB for 7 consecutive days, or buy 3,500 OKB before the snapshot time on the token sale day.
- To secure your subscription: Users need to be holders of at least 2,500 OKB for 7 consecutive days, or buy in 17,500 OKB before the snapshot time on the token sale day.
- To get the most: There is a possibility of splitting OKB to different accounts of F&F (friends and family). Keep 2,500 OKB in each account for 7 consecutive days, or buy in 17,500 OKB using different accounts before the snapshot time on the token sale day.
The snapshot of OKB balance of each user is taken at 11 am (CET, UTC+1) daily from 7 days before the token sale day. For example, if the first session of the subscription starts on March 9th, then the snapshot period will be March 2nd to 8th.
How Allotment is calculated
The allotment will be assigned based on the amount of their 7-day OKB holdings, it is shown in the table below.
The more the OKB a user holds, the more the tokens that will be allotted to such a user. Users get the maximum coefficient by holding >2,500 OKB per day.
Allotment will be calculated based on this formula:
Token supply = 300
Oversubscription limit =1,500
The 7-day OKB holding of A — 5,000 OKB. Therefore, coefficient = 1
The 7-day OKB holding of B — 10,000 OKB. Therefore, coefficient = 2
The 7-day OKB holding of C — 18,000 OKB. Therefore, coefficient = 5
The 7-day OKB holding of D — 1,000 OKB. Therefore, coefficient = 0 (Not eligible)
Let us assume that the subscription amount of user A, B, C, are 800, 300, and 400 tokens respectively, the corresponding amount of OKB will then be locked up. After the subscription ends, they will be allotted the following number of tokens based on their coefficients:
Holders of OKB get more incentives by simply holding the exchange's utility token, they can also stake their tokens in a safe environment free from lock-up periods or some of the protocol vulnerabilities experienced in the DeFi space.
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