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OKEx Jumpstart: New Rules Explained
4 points to note so as to secure your allotment in OKEx’s token sales
In a Nutshell
- There is no more first-come, first-served subscription session.
- Your allotment amount will be determined based on your OKB holding amount and period, or your trading volume.
- New rules will be effective from the upcoming 9th token sale.
Since its launch, OKEx Jumpstart has already held eight token sales in six months time. While we are flattered by the overwhelming support from our users, we always look for room to improve our products and services.
After reviewing the feedback from our communities, it has come to our concern that many users experienced difficulties when securing an allotment, particularly when sold-outs happened in only a few seconds. In order to allow broader participation in token sales, from the upcoming 9th OKEx Jumpstart token sale and onward, we will implement the improved rules. Here are a few highlights to note:
1. Two brand-new subscription sessions with lower threshold
Introducing the two sessions of OKEx Jumpstart subscription: the OKBelievers Exclusive Allotment Session and the OKTraders Privilege Allotment Session.
Compared to the past sales, in order to participate in a token sale, interested users are required to hold a daily minimum of only 100 OKB for the previous 5 consecutive days (vs. 100 OKB for 30 days previously) before each token sale day. A lower threshold as the new rules offer, you can secure a larger allotment by holding more OKB in the 5-day period.
In addition, under the new rules, how you fulfill the requirement would make a difference in your allotment coefficient in the two sessions. More details will be elaborated below.
2. OKB holding calculation: holding more for longer better than last-minute buying in bulk
In the past, it has been observed that some users tried to achieve the OKB daily average holding by purchasing OKB in bulk in the last few days before the sales. With the new rules, we encourage interested users to hold the required OKB amount continuously.
Remember the new OKBelievers Exclusive Allotment Session mentioned above? The rules for this session are similar to those of the first subscription session in past sales. However, by holding the required OKB amount continuously, one can secure a higher allotment coefficient and thus larger allotment.
The below table shows the difference in coefficients by holding OKB continuously (left) and buying in bulk in the last minute (right):
In case your coefficients of minimum holding and average holding differ, you will be assigned the coefficient whichever is higher. You can always check your coefficient and OKB snapshot records on OKEx Jumpstart website.
As always, if you stop holding or falls short of the required OKB daily average holding, you can regain your eligibility by buying OKB in bulk before the sale day to reach your desired average daily holding requirement.
3. New trading volume-based session
Different from the previous second subscription session, the new OKTraders Allotment Privilege Session is a special subscription session for only token sales of larger sale supply.
In this session, allotment advantage is granted to those who trade a lot on OKEx, as the allotment coefficients for this session depends on one’s cumulative OKEx spot trading volume (in Bitcoin) since the establishment of OKEx. You can your coefficients on the OKEx Jumpstart website.
The corresponding coefficients are as follows:
4. New allotment formula: no longer first-come-first-served sales
After reviewing the feedback from our communities, we were concerned that many of our users are not happy with being excluded from past sales. As such, we decided to abandon the first-come-first-served model and allow as many participants to join our token sales as possible by changing the allotment formula.
The new allotment formula is as follows:
This formula applies to both OKBelievers Exclusive Allotment Session and OKTraders Privilege Allotment Session.
Simply put, your allotment will be determined by your coefficient, subscribed amount, and the total session supply, regardless of your sequence of participating in the session.
5. Better protection against cheating
We are also aware of the complaints that some users tried to secure allotment by manipulating multiple accounts. In order to protect the interest of the general users, the KYC verification requirement of OKEx Jumpstart will be lifted to KYC2. By doing so, we hope to forge the fairness among both institutional and retail users.
Moreover, the subscription time for both sessions will be extended from 10 minutes to 30 minutes and no more subscription limit will be imposed, allowing wider participation of all users.
For the detailed rules, please refer to the below link:OKEx Jumpstart Token Sale Rules Improvement
We will keep listening
OKEx Jumpstart would not become a successful and trustworthy platform without the support of our users, both institutional and retail. We believe a fair environment is the only way for us and the industry to grow further.
As always, we would like to invite you to give your valuable ideas about the new rules. Please don’t hesitate to leave your thoughts on our social media.
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
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