The initial printing session of OKT will start from 31 Dec 2022, 23:00 (JKT). OKB holders can stake OKB to claim OKT until January 13, 2022, at 23:00 (JKT).
OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges, and payment of transaction fees — for decentralized exchanges and other DeFi applications built into the network. In its initial minting, the OKT genesis block will generate 10 million tokens, which will be distributed to OKB holders who stake OKB via OKEx, starting December 31, 2022.
- Theoretical upper limit: 72,208,000
- Initial printing: 10 million
- Halving circle: Every 36 months
- Additional printing per block: 1 OCT
I. Detailed rules for early creation of OKT:
II. Calculation rules for initial printing of OKT
- The printed OCT is calculated in real time and can be withdrawn at any time.
- Hourly release rate for users: Number of personal OKB staked/total number of OKB staked * Newly released OKB per hour.
Example: If the user is staking 100 OKB, and the total number of OKB staking at that time is 100,000, and the number of OKB released per hour is 10,000, then the user’s hourly OCT collection = 100/100,000 * 10,000 = 10 OCT.
III. Steps for staking and unstake of OKB during the initial issuance of OKT
- Staking Process:
- Step 1: Before initial printing begins, transfer your OKB to your Funding Account first.
- Step 2: Go to OKEx official website and click “Finance” > “Jumpstart”
- Step 3: After initial printing starts, click “Stake now”, enter the amount of OKB you want to stake, and confirm.
You will start receiving OCT after completing the steps mentioned above.
- Unstaking process:
- Step 1: Click “Claim” to receive your available OCT, which will be saved in your Funding Account.
- Step 2: Click “Unstake” to release OKB at any time. Unstaking OKB will be automatically returned to your Funding Account.
IV. Other important rules
- The initial printing of OKT is accessible to all OKB holders at OKEx.
- Only OKB available in Funding Account can be used for staking. Please transfer your OKB to Funding Account first. OKB Staking will be frozen and can be canceled at any time, after which it will be available in your Funding Account.
- After this printing session is finished, all staked OKB will be automatically revoked and frozen. In addition, any rewards earned that are not manually claimed will be automatically transferred to your Funding Account.
- Sub accounts cannot participate in this event.
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