Enhancement of OKX Jumpstart Token Sale Rules
Dear valued customers,
Thank you for all the suggestions on the enhancement of the OKX Jumpstart rules after our first token sale. We have reviewed every comment carefully and assessed the possible impacts it would make on the token sales if we change the rules accordingly. In the end, we have decided to adopt the following changes in order to allow more users to participate in the token sale. After all, the goal of OKX Jumpstart is to help quality projects get listed in our liquid and world-class market and connect to more opportunities.
The subscription-allotment process will continue to be implemented on OKX Jumpstart. However, a 2nd Subscription Session will be added to the token sale. The token sale will follow the procedure of subscription > allotment > result announcement, and only OKB holders can participate in the sale. Participation steps are as follows:
Step 1: Prepare and Hold OKB
- OKB is the only token accepted for subscription and settlement.
- To be eligible to participate in the 2nd token sale, you are required to have a minimum of 500 OKB for your 15-day Average OKB Holding Amount. The more the OKB you hold, the greater the allotment you can get (details below). Your account will be snapshotted daily at a random time (starting Apr 25, HKT).
- From the 3rd token sale and onwards, you are required to have a minimum of 500 OKB for your 30-day Average OKB Holding Amount for participation.
- The individual cap of subscription will be announced prior to the token sale.
Step 2: Subscribe (2 Sessions available)
- 1st Session: Over-subscription limit Session time limit is 10 minutes. However, the session will end early once the over-subscription limit is reached.
- 2nd Session: NO over-subscription limit. Session time limit is 10 minutes. Users who subscribe successfully within this time frame will get an allotment.
- Allotment calculation and result announcement follow after each session ends. The token allocation for the 1st and 2nd sessions will be made known in each round’s token sale announcement.
Step 3: Allotment
- Once the allotment calculation is done, tokens will be credited to users’ OKX Assets Account and the corresponding amount of OKB will be deducted. Any OKB on hold for unallotted subscription will be released.
- Allotment for the 1st session will be carried out before the 2nd session The OKB on hold for unallotted subscription in the 1st session will be released and can be used for the 2nd session.
- Minimum threshold for participating in 2nd token sale: 15-day（or 30-day) Average Holding Amount ≥ 500 OKB
- For maximum allotment, a user will have to reach ≥ 2,500 OKB for the 15-day(or 30-day) Average Holding Amount. An allotment coefficient mechanism is adopted. Details are listed in the later part of this announcement.
- If your OKB holding amount decreases or you stop holding OKB during the 15-day(or 30-day) period, you may consider buying back a large amount of OKB before the token sale’s last random snapshot time to reach the participation threshold.
All projects launched on OKX Jumpstart will be supported by OKX and its global partners:
- The project listed on OKX will be launched with trading pair(s) against OKB, BTC, ETH, and USDT. At least one of these trading pairs will be launched on the subscription day.
- If the project matches the compliance and other requirements of OKX’s partners, OKX may refer the project to fiat-exchanges, such as OKCoin Korea and OKCoin.com, which may offer priority listing opportunities to the project.
III. Risk Warning
- 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. This announcement and any other information on OKX are not to be regarded as investment advice. OKX is not responsible for any losses generated by using the information thereof.
- Any individual who tampers or attempts to tamper with the process or the operations of the subscription will be disqualified from OKX Jumpstart.
- In case of dispute, OKX Jumpstart reserves the final right of decision.
IV. Subscription Rules
1. Allotment Coefficient
The allotment of each user is determined by the allotment coefficient, which is based on the user’s Average OKB Holding Amount. In a nutshell, the more the Average OKB Holding Amount you have, the higher the allotment coefficient you will get, and the greater the allotment you will receive.
2. Allotment Formula
Both the 1st and 2nd sessions will follow the same allotment formula below:
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:
April 24, 2019