September 13, 2019 – After the success of its Jumpstart platform, leading cryptocurrency exchange OKEx is gearing up for more initial exchange offerings and is now announcing improvements for its token rules, to take into effect on the 9th token sale.
In order to obtain an allotment, users must be holding a daily minimum of 100 OKB for 30 consecutive days before the token day sale to be eligible. Falling short of the requirement can regain their eligibility by buying more OKB so as to achieve the average daily holding requirement at a later time. Of course, holding more OKB can secure higher allotment coefficient rather than just fulling the daily average requirement. If there is a difference between the minimum holding and average holdings, the user will be assigned the higher coefficient.
|Daily OKB Holding||Corresponding Allotment Coefficient for Fulfilling Minimum Daily Holding Requirement||Corresponding Allotment Coefficient for Fulfilling Average Daily Holding Requirement|
|100 – 499||2||1|
|500 – 999||10||5|
|1,000 – 1,499||20||10|
|1,500 – 1,999||30||15|
|2,000 – 2,499||40||20|
Additionally, there will be an OKTRaders Allotment Privilege Session for tokens of larger supply. The allotment coefficient will depend on the person’s spot trading volume (in BTC) since the launch of OKEx. Users can check their own coefficients on the Jumpstart website.
When participating in Two Subscription Sessions, only OKB may be accepted and all users are required to be atleast KYC 2. The session will last for 30 minutes but there will be no over-subscription. After subscription, the alloted tokens will be transferred to the user’s funding account while the OKB they used for subscribing will be deducted from them. OKB unused in the first session can still be used in the 2nd session.
As for the allotment rules, the daily snapshot of one’s OKB holding will be taken at a random time of the day. The user’s Funding Account, Spot Account, and C2C Accounts will have their snapshots taken. Anyone can check their own snapshot records and individual allotment coefficients on the OKEx Jumpstart Website.
As for the token listings, all projects launch via Jumpstart will receive from support from OKEx and its global partners. During the token sale day, atleast one of these trading pairs will be available to the project: USDK, USDT, OKB, BTC, and ETH. The projects will also enjoy priority listing to OKCoin Korea, OKCoin.com, and partner fiat-to-token trading platforms.
OKEx encourages its users to exercise due diligence as trading digital assets involve risk like the loss of invested capital. Thus, it needs its users to fully understand the risk involved and take into consideration the level of experience and understanding of digital assets. Individuals who tamper with the process of the subscription shall be disqualified from OKEx Jumpstart.
For more details, please check out this article.
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.
This article is published on Bitpinas: OKEx Jumpstart Token Sale Rules Improvement
This article is about a token listing. This is for informational purposes only and does not constitute investment advice OR a recommendation of the product being discussed. Users are advised to do their own research on multiple sources based on the information provided.