Latest Swaps and Farm DApps Launched on OKExChain, Increasing OKT’s Earning Potential


On January 22, at 17:00 (JKT), the team behind the open-source blockchain OKExChain will launch two decentralized applications, OKEx Swap and OKEx Farm, built on the protocol. At the same time, the first Farm pool, OKT-USDT, will be launched.

Along with the launched DApps, OKT withdrawals will be unlocked, giving OKT holders the ability to stake OKT together with USDT in Swap to earn LP OKT-USDT tokens. Holders of these LP tokens can then bet in the OKT-USDT Farm pool for additional income, such as mining new OKT.

During OKExChain’s mainnet stability testing, tens of thousands of OKTs were mined through the OKExChain block reward protocol but not yet distributed. However, on January 26 at 17:00 (JKT), the OKT/USDT whitelist pool will vote on the proposal to distribute these OCT reserves. If the vote supports the proposal, it will automatically trigger a snapshot of the Farm pool to capture the state of the blockchain at the time of voting.

The OKT stockpiled prior to the launch of the OKExChain mainnet will then be distributed among users according to the number of LP OKT-USDT tokens they have staked in the OKExChain Farm pool when the proposal is approved. The distribution formula for OCT is as follows:

Amount of OKT that user can mine = (number of LP tokens staked by user) / (total number of LP tokens staked in Farm pool) * (cumulative amount of OKT) For example, if cumulative amount of OKT is 160,000, and if user has pledged 100 tokens LP OKT-USDT, then there are 1,000 LP OKT-USDT tokens in the OKT-USDT Farm pool, which means users can allocate OKT as follows:

100 / 1,000 * 160,000 = 16,000 OCT

Once the cumulative OKT allocation is complete, users can continue mining OKT by staking their OKT-USDT LP tokens in the OKT-USDT Farm pool.

Users can start staking, earning and mining today at 17:00 (JKT) via Swap and Farm on OKExChain. To access the Farm pool, please visit: https://www.okex.com/okexchain/farm

OKExChain is an open-source public blockchain technology developed by OKEx. It can be used as a platform for building decentralized applications, including DEX. For more detailed information, see our guide to OKExChain.

Join the OKEx community

Twitter: https://twitter.com/OKEx

Facebook: https://www.facebook.com/okexofficial/

LinkedIn: https://www.linkedin.com/company/okex/

Telegram: https://t.me/okexofficial_id

Reddit: https://www.reddit.com/r/OKEx/

Instagram: https://www.instagram.com/okex_exchange



Leave a Comment