OKX crypto exchange is a leading platform for spot and futures trading of crypto assets, consistently ranking among the top 5 largest exchanges. In addition to its primary trading services, OKX also provides avenues for passive earnings through Jumpstart and Earn. These services are accessible to all verified OKX clients.
Jumpstart: Mining and Token Distribution
Jumpstart simplifies fundraising for new crypto projects and grants users early access to promising digital assets before they are listed on an exchange.
Every project undergoes a thorough evaluation by the OKX team. With only 15 projects featured on Jumpstart in the past three years, the crypto assets associated with these projects have demonstrated high annual percentage rates (APR) after being listed on the platform. For example, the distribution of Toncoin (TON) tokens in November 2021 witnessed an APR of almost 900%. Additionally, the mining of ZetaChain (ZETA) tokens recently concluded, boasting a maximum APR of +1825%.
Jumpstart predominantly showcases projects in two rapidly expanding sectors – DeFi and GameFi. Users have two methods of obtaining tokens through Jumpstart.
- Mining: This does not involve traditional cryptocurrency mining where users need to purchase specialized mining equipment. To secure tokens through mining on Jumpstart, users temporarily block their OKB or BTC on the platform, usually for a period of 3-4 days. There is a limit on the number of coins that can be blocked for both OKB and BTC. However, users can participate in the distribution in two pools simultaneously. For example, during the ZETA mining phase, each user had a limit of 0.3 BTC and 200 OKB per pool. The number of ZETA tokens received depended on the volume of BTC and OKB blocked by the user, as well as their participation time. The earlier a user entered the project, the higher the token allocation rate during the distribution phase. By blocking 0.01 BTC in the first hour of mining, users could receive approximately 14 ZETA tokens during the distribution phase (equivalent to about $23 at the time of writing). After mining and distribution, users receive their BTC and OKB back in full, with the flexibility to withdraw coins from mining at any time.
- Pledge: To obtain tokens through this method, users need to hold OKB for several days before the distribution commences. The presence of coins in the user’s account is recorded through regular snapshots. Based on the amount of OKB held, users receive a specific number of lottery tickets. At the conclusion of the subscription period, the system randomly selects winning and losing tickets, with the project tokens distributed subsequently.
For instance, the Sui project (SUI) was released on Jumpstart through collateralization in April 2023. A total of 25,000,000 SUI tokens were distributed, yielding a maximum APR of +1,813%. The SUI token was sold at a price of 1 SUI = $0.1 during the sale, whereas it currently trades at $1.74.
Collateralization and mining on Jumpstart differ in terms of token liquidity. In the case of collateralization, users cannot immediately sell the tokens they obtain. For example, in the case of SUI, the distribution occurs over a span of 12 months. Conversely, tokens acquired through mining promptly appear on the exchange for trading or staking through the Earn service.
Staking Cryptocurrencies through Earn
Upon receiving free tokens, users have multiple options: selling them immediately for profit, holding the tokens, or staking them through the OKX Earn product. ZETA tokens acquired through mining offer staking rates ranging from 1% to 21.32% per annum, while SUI tokens offer staking rates between 1% and 3.67%, depending on the staking method employed.
OKX supports various staking types, often presenting multiple passive income opportunities for a given coin.
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Simple Earn: Unlike self-staking, where assets are locked for an extended period and take several days to withdraw, Simple Earn allows users to withdraw their assets at any time. Interest accrues every hour through lending to users engaged in margin trading. Simple Earn with a fixed term facilitates staking in PoS networks and liquidity pools.
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On-chain Earn: This involves staking crypto assets directly in the coin network or DeFi protocols, bypassing the exchange. OKX forwards the deposits to the respective network or decentralized finance protocols, where they serve as liquidity for various markets, yield farming, or lending. OKX recently integrated with the liquid staking protocol on the TON network, expanding the opportunities for users to earn rewards.
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Structured products: These cater to advanced users. The Seagull Strategy allows users to achieve higher APR compared to Simple Earn. Dual Investment enables additional interest generation through trading reversals, while the Snowball strategy delivers income generation in trending and sideways markets. Shark Fin allows users to earn USDT in any market condition with capital asset protection.
OKX crypto exchange offers extensive avenues for passive earnings in cryptocurrencies. By holding BTC or OKB in an OKX account, users can participate in token giveaways at no cost, subsequently staking or selling the tokens for profit. Jumpstart and Earn services are accessible through the exchange’s website and platform application. Detailed information about these products is available on the official OKX website.