Dear valued customers,
The 4th OKX Jumpstart Mining will commence from 13:00 (UTC) on September 25, 2020. OKB holders can stake OKB to mine FLM tokens in return.
I. Detailed Rules of Staking
|
Token Staked |
OKB |
|
Token Earned |
FLM |
|
The Total Amount of Mineable Token |
2,500,000 FLM |
|
Mining Period |
13:00 Sep 25, 2020 - 13:00 Oct 5, 2020 UTC |
|
Minimum Staking per Person |
None |
|
Maximum Staking per Person |
2,000 OKB |
|
Upper Limit of Total Staking |
None |
|
Staking Period |
Stake and Unstake at any time |
|
KYC Required |
KYC2 |
|
Time for Opening the Trading of the Token Mined |
Sept. 28, 2020 (UTC) until further notice |
II. Calculation Rule of Staking Rewards
1. The staking rewards are FLM tokens acquired by participating in OKX Jumpstart Mining. The staking rewards is calculated in real time and can be withdrawn at any time.
2. Hourly User’s Rewards = the amount of personal OKB staked / the total amount of OKB staked*newly released tokens per hour
For example: If the amount of user's OKB staked is 100, and the total amount of OKB staked at that time is 100,000 along with the amount of FLM released per hour is 10,000, then:
The user's hourly rewards=100/100,000*10,000 = 10 FLM
3. Since the specific time of FLM on-chain transfer on September 28 is not determined, OKX will issue FLM to mining users in advance according to the actual earnings.
4. When the project confirms the time of FLM on-chain transfer, OKX will release a new announcement for the time of FLM deposit, withdraw and trade.
III. Tutorial on Stake and Unstake
1. Stake process:
Step 1: Before mining starts, transfer your OKB to the Funding Account in advance;
Step 2: Log in to the OKX official website and click “Finance" - “Jumpstart";
Step 3: After mining starts, click "Stake", enter the amount of OKB and confirm.
After completing the above-mentioned three steps, you can start your mining!
2. Unstake process:
Step 1: Click "Harvest" to get staking rewards, which will be distributed to the Funding Account.
Step 2: Click "Unstake" to release OKB at any time, and the OKB unstaked will be automatically returned to the Funding Account.
IV. Project Introduction
Flamingo is comprised of five main components, including Wrapper - a crosschain asset gateway, Swap - an on-chain liquidity provider, Vault - a one-stop asset manager, Perp - an AMM-based perpetual contract trading platform, and also DAO - a decentralized governance mechanism. FLM is the governance token of Flamingo and will be 100% distributed to the community based on participation.
The total mining amount of OKB pool: 2,500,000 FLM
FLM Spot Trading: FLM/USDT Sep 28, 2020 (UTC) until further notice
For more details of the project, please refer to: About Flamingo-4th Project of OKX Jumpstart Mining
V. Others
1. Users from all countries and regions can participate in OKX Jumpstart Mining;
2. Only OKB in the Funding Account can be used for staking. Please transfer your OKB to the Funding Account in advance. The OKB staked will be frozen and can be unstaked at any time. The OKB unstaked can be seen in the Funding Account.
3. After mining is completed, the remaining OKB unstaked will be automatically unstaked and unfrozen. The rewards which are not harvested will be automatically transferred to the Funding Account.
4. Sub-accounts cannot participate in this event.
5. For token sale project of OKX Jumpstart, the rules remain unchanged. For details, please refer to: Enhancement of OKX Jumpstart Token Sale Rules
Regards,
OKX
Sep 23, 2020 (UTC)
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