OKEx CEO Jay Hao: The Crash of a Token Is Not the End of DeFi, but a Lesson in Overheated Market Sentiment
OKEx Selects RIO as Its Second Jumpstart Mining Project
Malta, Sept. 15, 2020 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, will kick off its second Jumpstart Mining initiative with Realio Network (RIO), a distributed ledger network designed for regulatory compliance in decentralized ecosystems. Holders of OKB, the adopted global utility token of OKEx, can stake OKB to mine RIO tokens through this innovative, more equitable model of token issuance.
Realio is a blockchain solutions provider for issuers, fund managers and technology providers, committed to combining private equity with blockchain technology and providing a wider range of channels for high-quality institutional investment products that create long-term income and wealth.
Currently, Realio has tokenized more than $300 million worth of assets that power its entire ecosystem and incentivize the liquidity pool. Unlike previous forms of token issuance, without a private sale and pre-mining, the initial token distribution design ensures that users participate in the ecosystem on an equal basis.
“Realio greatly bridges the gap between the crypto world and the real world. By tokenizing physical assets, Realio is broadening the boundaries of crypto to a much larger audience. We are very excited to see such projects emerge and make OKEx Jumpstart Mining their platform of choice,” OKEx CEO Jay Hao said.
The second OKEx Jumpstart Mining initiative started at 12:00 pm UTC on Sept. 15 and will last for 14 days. Spot trading of RIO will be available from 9:00 am UTC on Sept. 16. Unlike the previous round of Jumpstart Mining, for RIO, the individual staking limit has been adjusted to 2,000 OKB and KYC level 2 certification is required this time.
Jay Hao commented:
“The success of the previous round of Jumpstart Mining has made us even more confident about supporting high-quality projects in this new way. These emerging projects are leading the development direction of the industry, particularly in the area of DeFi right now. As a veteran player, OKEx is committed to supporting these innovative projects to promote the further progress of the space.”
The first round of OKEx Jumpstart Mining with decentralized trading protocol ZYRO highlighted the popularity and demand from users for this new mining method. As of now, the total staked OKB has reached a massive 114,907,605. Based on OKEx Jumpstart’s unique mining mechanism, users' capital flexibility is maximized, while capital-occupation costs and risks are reduced, thus better suiting the needs of today's traders and investors.
Detailed rules of staking
- Token staked: OKB
- Token earned: RIO
- The total amount of mineable tokens: 3,750,000 RIO
- Mining period: 14 days
- Staking limit per person: 0–2,000 OKB
- Upper limit of total staking: None
- Staking rules: Stake and unstake at any time
- KYC requirement: KYC 2
- Time for opening the trading of the token mined: 9:00 am UTC on Sept. 16, 2020
For more information on the rules, please visit here.
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.
Email: [email protected]
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Telegram group (Russian): https://t.me/okexofficial_ru
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 involve 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.