This is a guide to earning DeFi tokens using OKB and OKEx Jumpstart Mining. If you have missed our first guide where we exposed the 8 ways to earn free bitcoin daily plus withdrawal with Binance, go check it out.
Decentralized finance, or DeFi, is the crypto community’s buzzword of the year, and the key drivers behind the niche’s boom are the concepts of liquidity mining and yield farming.
Liquidity mining first gained traction following the rise of Compound and allows users who provide liquidity to a decentralized protocol to earn their tokens in return. Compared to traditional methods of earning passive crypto income such as savings and staking, the return from liquidity mining can be significantly high due to the current, nascent state of DeFi markets.
In order to further bolster the DeFi ecosystem and provide users with more innovative offerings, OKEx has introduced liquidity mining as a new feature of its token sale platform, OKEx Jumpstart.
What is OKEx Jumpstart?
Launched in March 2019, OKEx Jumpstart is a platform that incubates high-quality crypto projects. With the emergence of DeFi protocols and strong user demand, OKEx has launched the Jumpstart Mining initiative, allowing its users to farm DeFi tokens while supporting their chosen projects by staking OKB, OKEx’s ecosystem token.
This article will guide you through the steps to start earning DeFi tokens via OKEx Jumpstart Mining using both desktop and mobile devices. You can also watch our mobile version video tutorial or follow the instructions below.
Earn crypto using OKEx Jumpstart Mining for web users
Step 1: Go to the Jumpstart section
From the OKEx homepage, navigate to Finance in the top menu and click on Jumpstart to open OKEx Jumpstart.
Step 2: View available token sales
The OKEx Jumpstart page displays the current tokens available for sale as well as summaries of previous sessions.
In this tutorial, we will participate in the ZYRO sale, which, according to the screenshot below, was “Live” at the time of writing. The information box also displays the APY (annual yield) alongside other useful details, such as start and end times and total tokens staked.
Users should read these detailed rules below before using Jumpstart Mining. After reading and understanding the rules, you can click on Start now to proceed.
Okex Jumpstart Mining Rules
OKB is a critical part of the OKEx ecosystem. To give back to their OKB holders, they 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.
The first OKEx Jumpstart staking will commence from 09:00 (UTC) on September 10, 2020. OKB holders can stake OKB to mine new high-quality tokens in return.
I. Detailed Rules of Staking
|The Total Amount of Mineable Token||15,000,000 ZYRO|
|Mining Period||14 Days|
|Minimum Staking per Person||None|
|Maximum Staking per Person||5,000 OKB|
|Upper Limit of Total Staking||None|
|Staking Rules||Stake and Unstake at any time|
|Time for Opening the Trading of the Token Mined||24 Hours After the Mining|
II. Calculation Rule of Staking Rewards
The staking rewards are ZYRO tokens acquired by participating in OKEx Jumpstart staking. The staking rewards are calculated in real-time and can be withdrawn at any time.
Hourly User’s Rewards = the amount of personal OKB staked / the total amount of OKB staked * newly released tokens per hour
For example: If the amount of user’s OKB staked is 100, and the total amount of OKB staked at that time is 100,000 along with the amount of ZYRO released per hour is 10,000, then:
The user’s hourly rewards=100/100,000*10,000 = 10 ZYRO
III. Tutorial on Stake and Unstake
1. Stake process:
- Step 1: Before mining starts, transfer your OKB to the Funding Account in advance;
- Step 2: Log in to the OKEx official website and click “Finance” – “Jumpstart“;
- Step 3: After mining starts, click “Stake”, enter the amount of OKB, and confirm;
After completing the above-mentioned three steps, you can start your mining!
2. Unstake process:
- Step 1: Click “Harvest” to get staking rewards, which will be distributed to the Funding Account.
- Step 2: Click “Unstake” to release OKB at any time, and the OKB unstaked will be automatically returned to the Funding Account.
IV. Project Introduction
Zyro is a decentralized trading protocol on Zilliqa, developed by core members of the Zilliqa community. Zyro token is the governance token of zyro protocol, holders will be able to vote for the future roadmap of the protocol and the way the protocol manage its assets with their tokens.
- The private sale price of ZYRO: $0.1
- The total amount of mining this time: 15,000,000 ZYRO
- Users from all countries and regions can participate in our first OKEx Jumpstart staking.
- The only OKB in the Funding Account can be used for staking. Please transfer your OKB to the Funding Account in advance. The OKB staked will be frozen and can be unstaked at any time. The OKB unstaked can be seen in the Funding Account.
- After mining is completed, the remaining OKB unstaked will be automatically unstaked and unfrozen. The rewards which are not harvested will be automatically transferred to the Funding Account.
- Sub-accounts cannot participate in this event.
- For the token sale project of OKEx Jumpstart, the rules remain unchanged. For details, please refer to: Enhancement of OKEx Jumpstart Token Sale Rules
September 10, 2020 (UTC)
Step 3: View staking details
Before you start staking your OKB to earn ZYRO, you can view important data, such as price, APY, staking rules, project introduction, token allocation, lockup period, etc.
Step 4: Stake your OKB to earn crypto
You need to transfer OKB to your Funding Account in advance in order to start staking them. The staking session does not require any KYC and you can stake a maximum of 5,000 OKB in this staking session.
Note: Rules pertaining to maximum staking quotas and KYC requirements are subject to change.
After you have acknowledged the staking rules, click Stake to proceed.
Enter the amount of OKB you would like to stake in the pop-up box and click OK to proceed.
Step 5: (Optional) Harvest your crypto and unstake your OKB
Following the steps above, you should start earning ZYRO tokens once you have staked your OKB. If you would like to collect your earned ZYRO, click Harvest to proceed.
The earned ZYRO will now be distributed to your funding account. To view the transaction, you can click on My Assets from the top right corner of the OKEx homepage and then select the “Report Center”tab and click on View and Download under the “Account History” tab.
The transaction will be displayed as “Airdrop & Reward” under the “Funding Account” tab.
You can also withdraw your staked OKB at any time by clicking Unstake on the ZYRO token sale homepage. No lock-up period applies to unstaking and your OKB will be returned to your funding account.
Earn crypto using OKEx Jumpstart Mining for mobile users
Step 1: Go to the Jumpstart section
Start by tapping on Home at the bottom of the mobile app, followed by tapping on More in the product bar. Now, tap Jumpstart under the “Finance” tab to open the main section.
Step 2: View available token sales
You can view the current token sale and previous token sale summaries on the Jumpstart section. We will stake OKB to earn ZYRO in this example. Read the brief introduction and the schedule for the ZYRO token sale before tapping on Start now to proceed.
Step 3: Stake your OKB
Before you start staking your OKB to earn ZYRO, view the important information, such as price, APY, staking rules, project introduction, token allocations, lockup periods, etc.
You can tap on Stake, then enter the amount of OKB you wish to stake and tap OK to proceed.
Step 4: (Optional) Harvest your crypto and review the transaction
In our example, you will start earning ZYRO once you have staked your OKB. If you would like to collect your earned ZYRO, tap on Harvest to proceed.
The earned ZYRO will be distributed to your funding account. To view the transaction, you can tap on Assets at the bottom, followed by Funding and then History to review the transaction. The transaction will be displayed as “ZYRO Get From Activity” under the “History” section.
New Jumpstart Mining projects
ZYRO is the first DeFi protocol listed for OKEx Jumpstart Mining. OKEx Jumpstart Mining will continue to support the growth of DeFi and will list more high-quality DeFi projects in the near future.
This material ( How to Earn Crypto Using OKEx Jumpstart Mining ) should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions.
Trading digital assets involve significant risk and can result in the loss of your invested capital.
You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary.
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