Introducing WOO(Woo Network), SIS(Symbiosis Finance) and RAY(Raydium) on OKX Jumpstart

Date de publication : 12 déc. 2021Lecture de 4 min

The OKX Jumpstart Mining will commence at 6:00 am UTC on Dec. 14, 2021. OKB holders can stake OKB to mine WOO, SIS, RAY tokens in return.

I. Staking Rules

1. Woo Network

Token staked OKB
Token earned WOO
Total amount of mineable tokens 950,000 WOO
Mining period 6:00 am UTC on Dec. 14, 2021 - 6:00 am UTC Dec. 15, 2021
Minimum staking per person None
Maximum staking per person 1,000 OKB
Upper limit of total staking None
Staking period Stake and unstake at any time
Identity verification (KYC) Level 2 required
Opening time for mined token trading Dec. 15, 2021 until further notice

2. Symbiosis Finance

Token staked OKB
Token earned SIS
Total amount of mineable tokens 500,000 SIS
Mining period 7:00 am UTC on Dec. 15, 2021 - 7:00 am UTC Dec. 16, 2021
Minimum staking per person None
Maximum staking per person 1,000 OKB
Upper limit of total staking None
Staking period Stake and unstake at any time
Identity verification (KYC) Level 2 required
Opening time for mined token trading Dec. 16, 2021 until further notice

3. Raydium

Token staked OKB
Token earned RAY
Total amount of mineable tokens 80,000 RAY
Mining period 8:00 am UTC on Dec. 16, 2021 - 8:00 am UTC Dec. 17, 2021
Minimum staking per person None
Maximum staking per person 1,000 OKB
Upper limit of total staking None
Staking period Stake and unstake at any time
Identity verification (KYC) Level 2 required
Opening time for mined token trading Dec. 17, 2021 until further notice

II. Calculation of staking rewards

1. The staking rewards will be WOO, SIS, RAY tokens acquired by participating in OKX Jumpstart Mining. The staking rewards are calculated in real-time and can be withdrawn at any time.
2. Hourly user rewards equate to the amount of personal OKB staked / the total amount of OKB staked * newly released tokens per hour. For example: If the amount of a user's OKB staked is 100 and the total amount of OKB staked at that time is 100,000, with the amount of WOO released per hour being 10,000, then the user's hourly rewards equal 100 / 100,000 * 10,000, which equates to 10 WOO.
3. When the project confirms the time of the WOO on-chain transfer, OKX will release a new announcement concerning the times for depositing, withdrawing and trading WOO.

III. Staking and unstaking directions

1. Staking process
Step 1: Before mining starts, transfer your OKB to your funding account.
Step 2: Log in to the OKX official website, go to the Finance section and click Jumpstart.
Step 3: After mining starts, click Stake, enter your desired amount of OKB and confirm. After completing these three steps, you will start mining WOO!
2. Unstaking process
Step 1: Click Harvest to get your staking rewards, which will be distributed to your funding account.
Step 2: Click Unstake to release your OKB at any time, and the OKB unstaked will be automatically returned to your funding account.

IV. Introduction

1.WOO Network
WOO Network connects traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at zero or low cost.

For more details of the project, please refer to: About Woo Network — the project of OKX Jumpstart Mining

2.Symbiosis Finance

Symbiosis Finance is a decentralized multi-chain liquidity protocol that aggregates exchange liquidity across all Ethereum virtual machine (EVM) and non-EVM compatible blockchains. It allows users to swap tokens between all the chains, while remaining the sole owners of the funds and maintaining low slippage.

For more details of the project, please refer to: About Symbiosis Finance — the project of OKX Jumpstart Mining

3.Raydium

Raydium is an automated market maker (AMM) built on the Solana blockchain which leverages the central order book of the Serum decentralized exchange (DEX) to enable lightning-fast trades, shared liquidity and new features for earning yield.

For more details of the project, please refer to: About Raydium — the project of OKX Jumpstart Mining

V. Others

1. Only OKB in your funding account can be used for staking. Please transfer your OKB to your funding account in advance. The OKB staked will be frozen but can be unstaked at any time. Unstaked OKB can be seen in your funding account.

2. After the mining is complete, any remaining OKB that is staked will automatically be unstaked and unfrozen. Rewards that are not harvested will be automatically transferred to your funding account.

3. Sub-accounts cannot participate in this event.

OKX

Dec. 12, 2021 (UTC)

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