OKEx Jumpstart Mining will allow OKB holders to participate for high yields from OKB staking, with an individual limit of between 100 and 5,000 OKB and a total cap of 8 million OKB. Unlike other existing protocols, there is no lock-up period necessary, and users can decide to unstake at any time, as generous yields are calculated by the minute.
Participation in Jumpstart Mining begins 14 days before the next new project is launched. 48 hours after their initial tokens are staked, trading can begin. Yield is calculated by minute dividing the total staked OKB amount by the individual’s staked total.
Through the Jumpstart Mining initiative, OKEx aims to create even wider interest for its Jumpstart projects as well as continue to drive value for its adopted utility token OKB by offering holders further incentives. OKB holders 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.
OKEx CEO Jay Hao said:
“We are really excited by this latest initiative, as it deepens our commitment to OKB holders to continue to drive value and utility for the token. Now, they can stake their OKB and earn high rewards in a safe way that lets them unstake their tokens at any time, as the yield is calculated every minute. This gives them an alternative to practices like yield-farming in DeFi where they can earn rewards for locking up their tokens without exposure to some of the risks on current protocols.”
According to the OKB Ecosystem Report for August, holders can now take advantage of as many as 76 partnerships outside of the OKEx exchange that allow them to use the OKB token for payment for a range of services including loans, mortgages, tourism and travel, entertainment, C2C services, trading services, and social networking.
Please visit https://www.okex.com/ for the full report.
About OKEx
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.
Media contact
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi
Follow OKEx
Twitter: https://twitter.com/OKEx
Facebook: https://www.facebook.com/okexofficial/
LinkedIn: https://www.linkedin.com/company/okex/
Medium: https://medium.com/@OKEx
Telegram group (English): https://t.me/OKExOfficial_English
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.
was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
