How do I access my rewards on Pay?

Pay Rewards is a loyalty program that allows eligible users to earn rewards on USDC or USDT on X Layer in Pay. The program is funded by us and is designed to incentivize holding stablecoins in Pay. Your funds remain in your Pay balance. Note that rewards may be changed or discontinued at any time.

How can I access the Rewards section?

1. Toggle your mode to Pay

2. Enter the Rewards page through the Rewards option in the navigation menu

If you don't have any Pay balance, select Add funds to add crypto from your Exchange account or through on-chain receive.

FAQ

1. Who’s eligible for rewards?

To qualify, you must:

• Be a verified user with an active OKX account.

• Hold USDC or USDT on X Layer in Pay.

We reserve the right to modify or discontinue the rewards program at any time. Refer to the Smart Account Terms for details.

2. How do I earn rewards?

Earning rewards is easy:

1. Activate Pay and complete identity verification

2. Add USDC or USDT on X Layer to your Pay balance.

3. Hold your stablecoins and earn rewards automatically.

Rewards accrue daily and are distributed monthly, by the fifth business day of the following month, directly to your USDC or USDT balance.

You can use your balance at any time, and you’ll still receive all accrued rewards. Any pending rewards will show the day after accrual.

3. How are rewards calculated?

Rewards are calculated daily based on the following formula:

Daily average eligible balance x (APY / 365)

For example: Let’s say the rewards rate is 5% APY (annual percentage yield).

If you hold 1,000 {cryptoTwo} for 15 days and then 500 {cryptoTwo} for another 15 days, your total rewards for the following month would add up to 3.08 {cryptoTwo}.

Full calculation:(1000 x (0.05 / 365) x 15) + (500 x (0.05 / 365) x 15) = 3.08 {cryptoTwo}

4. How can I opt out?

You can pause your rewards at any time, and they’ll stop accruing right away.
To opt out:

1. Go to Rewards in Pay

2. Select the settings icon in the top right corner

3. Select None and select OK

The rewards that have previously accrued or have been distributed to your account don’t expire.

5. Can I choose crypto for my payout?

No, all rewards are paid out in USDC or USDT on X Layer.

6. Why am I no longer eligible for rewards?

Your account may be frozen if we detect any reward abuse or exploitation.

7. Why don't my pending rewards add up?

The cash value of pending rewards is an approximation. The lifetime payout and activity records show the exact token and cash amounts.Rounding adjustments in the app may cause slight discrepancies in cash values.

When will the rewards program end?

This is a limited-time campaign. We'll notify users in advance before ending the rewards program.

Learn more about other parts of Pay here.