Dear valued customers,
We will support the Algorand (ALGO) monthly staking reward program. ALGO holders on OKX will receive ALGO reward on a monthly basis.
We will take snapshot of users’ ALGO holding in spot and savings accounts every day at 18:00 (CEST, UTC+2).
- User’s monthly ALGO distribution amount = Total sum of user’s daily ALGO reward
- User’s daily ALGO reward = OKX daily ALGO reward * User’s daily holding ratio
- User’s daily holding ratio = User’s daily ALGO holding snapshotted / OKX’s total ALGO holding snapshotted
- Users that hold less than 1 ALGO will not be included
- Daily snapshot is settled daily and the reward will be distributed on a monthly basis at around 15thof every month.
- User's daily random snapshot amount of ALGO = user funding account snapshot amount + crypto account snapshot amount + margin account snapshot amount + savings account snapshot amount - snapshot amount of borrowing in margin account
User A holds 1,370 ALGO at snapshot time, OKX holds 50,000,000 ALGO, and there are 30,000 ALGO being rewarded to OKX that day, then User A’s daily holding ratio = 1370 / 50,000,000 * 100% = 0.00274%, and the user can receive 0.00274% * 30,000 = 0.822 ALGO. Assuming that user gets the same amount of bonus every day, his monthly bonus will be 0.822 * 30 = 24.66 ALGO.
Thank you for your continued support and we assure you of our best services at all times.
Aug 27, 2019