1.What is OKDOT?
OKDOT is a voting voucher issued by OKX representing your staked DOT in Polkadot Parachain Slot Auctions on a 1:1 basis. You can convert DOT to OKDOT for liquidity during the lease period. At the end of the slot lease period, you will be able to convert your OKDOT to DOT on a 1:1 basis.
OKX offers Polkadot slot auctions for two lease periods and issues OKDOT as voting vouchers to users.
OKDOT1 is a voting voucher for projects with a lease period from 2021-12-17 to 2023-10-22, including Moonbeam (GLMR), Acala (ACA), Astar Network (ASTR) and Clover Finance (CLV).
OKDOT2 is a voting voucher for projects with a lease period from 2022-03-11 to 2024-01-15, including Centrifuge (CFG) and Efinity (EFI).
2.OKDOT conversion rules
1) Users with a voting order can decide whether to convert their DOT to OKDOT or not.
2) Users can convert DOT to OKDOT only once on a 1:1 basis and cannot cancel once a conversion is made.
3) After the conversion, the voting order will be automatically completed and will no longer be displayed on the OKX Earn page.
4) Voting rewards are distributed based on voting orders. Users will still receive the voting rewards after converting to OKDOT.
5) When the lease period ends, users who hold OKDOT can convert it to DOT on a 1:1 basis. For users who didn't convert DOT to OKDOT in the first place, their voting orders will be automatically completed and staked assets returned.
(6) OKDOT is a tokenized asset on OKX and cannot be deposited or withdrawn. Please be aware that OKDOT price is subject to market fluctuations.