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OKEx Enhances OK Jumpstart Rules to Allow Wider Participation in Token Sale Event

One of world’s largest crypto exchange OKEx is gearing up for more token sale events under its flagship OK Jumpstart program. In the first round of OK Jumpstart program, token sale event for Blokcloud was sold out in just one second

After taking public feedback, OKEx has changed the rules of OK Jumpstart for future rounds of Token sale events to allow wider participation from users striving to include as many participants as they can in the next token sale. For the same, OKEx is adding a second subscription session. 

The second subscription session will have a fixed time limit of 10 minutes for users to subscribe but without any over subscription limit and will be giving equal chances to all participants, not operate on a first-come, first-served mechanism.

This will ensure that every eligible user (meeting the eligibility conditions detailed below) will be able to subscribe and are guaranteed to get an allotment. Of course the allotment amount is based on the user’s average OKB holding amount.

OKEx has enhanced the calculation on Average OKB Holding Amount Period which you will read about further below. 

Here are some of the important highlights of the new rules for users to participate in the next OK Jumpstart Token Sale. 

Eligibility Criteria:

For 15 days, Users have to hold minimum 500 OKB tokens as average daily balance. Each day a snapshot is taken at a random time to capture the daily balance of the user. 

From the 3rd token sale, the average daily balance of Minimum 500 OKB tokens will have to be maintained for 30 days. 

User must have completed Level 1 Verification on the platform to be eligible to participate. 

To calculate the OKB average balance, OKEx system will simply take the average of your OKB holding amount to determine the allotment coefficient. For example, if you held 1,000 OKB for the first 7 days, and 100 OKB for the following 8 days, your Average OKB Holding Amount will be 520 (allotment coefficient = 1).

Subscription for Token Sale

The user has to enter subscription amount – how much OKB tokens are they willing to exchange in the token sale. Even if user is holding a balance of 500 OKB tokens, she can still choose to subscribe for lesser value. 

There will be two rounds of subscription for OK Jumpstart participation. Both sessions will be 10 minutes long. However, the first session has an over subscription limit, thereby the session can end early if that limit is reached. 

For the second session, there is no over subscription limit, hence ensuring each eligible user gets to subscribe to OK Jumpstart in 10 minutes. 

You can participate in Both Subscription Sessions. 

Allotment of Tokens

The tokens are not sold at a fixed price. They are allotted based on the subscription amount and allotment coefficient of the user and the total supply of tokens during a session. 

Average OKB holding amount for 15 days Allotment Coefficient
0-499 0
500-999 1
1000-1499 2
1500-1999 3
2000-2499 4
>2500 5

Tokens are allotted based on the below formula

Allotment of tokens = (IAC * ISA) / Σ(AC * ISA) * Total Supply per session

IAC – Individual Allotment Coefficient

ISA – Individual Subscription Amount

Example:

When the token sale opens, user A, B, C, and D wish to participate in the subscription sessions. Let’s assume their Average OKB Holding Amounts are: A = 500, B = 1,000, C = 3,000, D = 200. According to the table above, the allotment coefficient of user A, B, C, and D will be 1, 2, 5, and 0 respectively. Since the allotment coefficient of user D is 0, he is not eligible for the subscription.

We further assume that the session supply is 300 tokens, and the subscription amount user A, B, and C entered are 800, 300, and 400 respectively. The allotment will be as follows:

You can check your allotment coefficient and your average OKB Holding Amount at https://www.okex.com/activity/jumpstart.

Using the Right Resources

Although the second subscription session has no over subscription limit, while participating please ensure you have good internet connectivity. Desktop computer will provide a better experience than OKEx mobile app for participating in the token. 

About OKEx:

OKEx is a world-leading digital asset exchange, providing advanced financial services to traders globally by using blockchain technology. OKEx provides hundreds of token & futures trading pairs to help traders to optimise their strategy. OKEx is also one of the top digital asset exchanges by trading volume, serving millions of users in over 100 countries. BTC futures trade on the exchange has nearly $1.5B of volume daily, and is widely recognised as the gold standard for the industry.

For more Information check out: https://www.okex.com/

About OK Jump Start:

OKEx launched OK Jumpstart, a token sale platform to help quality blockchain projects go public and get listed in a liquid and world-class market, and at the same time, help fuel the growth of the blockchain market and ecosystem healthily. 

Disclaimer: This is a press release and may contain forward looking statements about the subject. Coin Crunch may or may not agree with the views stated in the article. We request our readers to do their own research before investing.

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