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OKEx Upgrades Its Jumpstart Platform, Allows Users to Earn Tokens by Staking OKB

4y ago
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Key highlights:

  • OKEx has introduced a new product that allows users to stake their OKB and earn new tokens in return
  • The featured tokens will be listed on OKEx after the staking program finishes
  • The first token to be featured is Zyro, a decentralized trading protocol built on Zilliqa

OKEx users can now stake their OKB to earn new tokens

Shortly after Binance announced their Launchpool product, the OKEx cryptocurrency exchange has also introduced their own new twist on initial exchange offerings (IEOs). The exchange has added a new feature to its Jumpstart platform, and now allows users to stake their OKB to earn tokens that will be listed on OKEx. 

The exchange stated: 

“OKB is a critical part of the OKEx ecosystem. To give back to our OKB holders, we will conduct a comprehensive upgrade of OKEx Jumpstart rules, among which, the original OKEx Jumpstart token sale rules remain unchanged, and new OKEx Jumpstart staking products are added.”

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The first project to be featured is Zyro

The first token that can be earned by staking OKB is Zyro’s ZYRO token. Zyro is a project that’s building a decentralized trading protocol on the Zilliqa blockchain. According to OKEx, ZYRO will be a governance token for the Zyro protocol, giving its holders the ability to influence the project’s roadmap. Zyro uses the scalability-focused Zilliqa blockchain to facilitate trading between different crypto assets. 

Through the OKB staking program, OKEx users will be vying for their share of 15 million ZYRO tokens (5% of the total ZYRO supply). There is now minimum for how many OKB tokens users can stake, but the exchange did place a ceiling at 5,000 OKB per user. Users can choose to stake or unstake their OKB at any time. The amount of ZYRO tokens received by each user will depend on how many OKB they have staked relative to the size of the entire OKB staking pool. 

ZYRO will start trading on OKEx 1 day after the staking program, which will be running for 14 days.

With a market capitalization of $1.57 billion OKEx’s OKB token is the third-largest cryptocurrency exchange token, behind Binance’s BNB and Crypto.com’s CRO. The token has seen impressive 110% gains since January 1.

4y ago
bullish:

0

bearish:

0

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