Decentralized finance, or DeFi, arguably proved smart contract technology’s killer application during much of 2020, and many of its concepts now appear beyond strictly blockchain-based financial products. Among them are liquidity mining and yield farming.
Liquidity mining first gained traction following the rise of Compound. The protocol rewards users who provide the liquidity needed to facilitate its lending and borrowing functions with its native COMP tokens. Annual percentage yields can be particularly high compared to those found in the traditional financial system and even other earning opportunities in crypto.
To further bolster the DeFi ecosystem and provide users with more innovative offerings, OKX is pleased to provide liquidity mining as a feature of its token sale platform, OKX Jumpstart.
Table of contents
- What is OKX Jumpstart?
- Earn crypto using OKX Jumpstart Mining for web users
- Earn crypto using OKX Jumpstart Mining for mobile users
- New Jumpstart Mining projects
What is OKX Jumpstart?
Launched in March 2019, OKX Jumpstart is a platform that incubates high-quality crypto projects. With the emergence of DeFi protocols and strong user demand, OKX has launched the Jumpstart Mining initiative. It enables its users to farm DeFi, GameFi and other new-to-market tokens, while supporting chosen projects by staking OKB, OKX’s ecosystem token.
This guide will take you through the steps to start earning crypto rewards via OKX Jumpstart Mining using both desktop and mobile devices. You can also watch our mobile version video tutorial. Finally, you should read these detailed rules before using Jumpstart Mining.
You will need to complete account verification level two to participate in OKX Jumpstart Mining initiatives. Consult this guide if you need help completing verification.
Earn crypto using OKX Jumpstart Mining for web users
Step 1: Go to the Jumpstart section
Log in and navigate to Finance on the top menu. Then, click Jumpstart to open OKX Jumpstart.
Step 2: View available token sales
The OKX Jumpstart page displays the current tokens available for sale as well as summaries of previous sessions.
In this tutorial, we will participate in the GODS sale — the native token of popular blockchain trading card game Gods Unchained. Click View details next to the token sale in which you want to participate.
The next screen shows details of the project’s mining APY, promotion period, number of tokens earned and staked to date, and rules. You will also find options to stake and unstake OKB tokens and withdraw received tokens.
Click Stake to start earning through OKX Jumpstart.
Step 3: Stake your OKB to earn crypto
Enter the amount of OKB you would like to stake in the pop-up box and click Confirm to proceed.
You need to transfer OKB to your funding account to start staking. You can stake a maximum of 2,000 OKB per staking session.
Note: Rules pertaining to maximum staking quotas are subject to change.
Step 5: (Optional) Harvest your crypto and unstake your OKB
Following the steps above, you should start earning GODS tokens once you have staked your OKB. If you would like to collect your earned GODS, click Withdraw to proceed.
The earned GODS will now be distributed to your funding account. To view the transaction, use the My Assets button in the Assets menu from the OKX homepage. Select the “Report center” tab and click on View and Download under the “Account History” tab.
You can also withdraw your staked OKB at any time by clicking Unstake on the token sale homepage. No lock-up period applies to unstaking, and your OKB will be returned to your funding account.
Earn crypto using OKX Jumpstart Mining for mobile users
Step 1: Go to the Jumpstart section
Log in to the OKX mobile application and tap Assets on the bottom toolbar. Swipe the top menu to reveal the Finance tab. Then, tap Finance.
Tap Jumpstart from the menu at the top.
Step 2: View available token sales
In the Jumpstart section, tap Jumpstart and then Explore Jumpstart to view available token sales.
Select the Jumpstart initiative you want to support and tap View details.
Step 3: Stake your OKB
The next page will display Jumpstart mining rules, the number of tokens available to be claimed, the number of tokens you have staked, the current USDT price, and the promotion’s APY and time remaining.
Tap Stake to proceed.
Then, enter the number of OKB you want to stake. Tap Confirm.
Step 4: (Optional) Harvest your crypto and review the transaction
In our example, you will start earning GODS once you have staked your OKB. If you would like to collect your earned GODS, tap Withdraw.
The earned GODS will be distributed to your funding account. To view your staked position history, tap Assets at the bottom, followed by Funding and then History.
New Jumpstart Mining projects
GODS is the first GameFi project supported by OKX Jumpstart Mining. OKX Jumpstart Mining will continue to nurture the growth of DeFi and play-to-earn gaming with more high-quality listings in the future.
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