The OKX Jumpstart Mining event for the Ultiverse (ULTI) token presents an exciting opportunity for BTC and ETH holders to earn rewards by staking their assets. This initiative allows participants to support and engage with a pioneering AI-driven Web3 gaming platform while potentially benefiting from its ecosystem growth.
This guide provides a comprehensive overview of the event’s mechanics, rules, and the innovative project behind the ULTI token.
Event Overview and Key Dates
The mining period is scheduled to commence at 6:00 am UTC on June 3, 2024, and will conclude at 6:00 am UTC on June 6, 2024. Following the event, the timeline for enabling deposits, withdrawals, and trading for ULTI tokens will be announced at a later date.
Participants can stake their BTC or ETH at any point during this 72-hour window to begin earning ULTI rewards immediately.
Staking Rules and Tokenomics
The staking process is designed to be straightforward and accessible. Two separate pools are available: one for BTC and one for ETH.
| Parameter | Details |
|---|---|
| Staking Tokens | BTC, ETH |
| Reward Token | ULTI |
| BTC Pool Rewards | 150,000,000 ULTI |
| ETH Pool Rewards | 150,000,000 ULTI |
| Minimum Stake | None |
| Max Stake per Person (BTC) | 0.3 BTC |
| Max Stake per Person (ETH) | 3.5 ETH |
| Staking Flexibility | Stake and unstake at any time |
The total supply of ULTI is 10,000,000,000 tokens. The distribution for the Jumpstart event represents 3% of this total supply, highlighting the significant allocation for early community participants.
Eligibility and Participation Requirements
To ensure a fair and compliant event, certain conditions must be met.
- Geographic Restrictions: Residents of Mainland China, Hong Kong, and South Korea are ineligible to participate in this specific campaign. OKX maintains a broader list of restricted jurisdictions for its services.
- Identity Verification: All participants must have completed the mandatory identity verification (KYC) process on the OKX platform. Sub-accounts are not permitted to participate.
- Funding Account: Only BTC or ETH held in your OKX funding account can be used for staking. Assets must be transferred from other account types (like trading or savings) to the funding account beforehand.
How Staking Rewards Are Calculated
Rewards are distributed in real-time and can be claimed at any moment. The calculation is based on your proportional share of the total staking pool.
The formula for calculating your per-minute rewards is:Your per-minute rewards = (Your staked amount / Total staked amount) * Tokens released per minute
Example: If you stake 0.1 BTC and the total amount of BTC staked at that specific minute is 1,000 BTC, with 10,000 ULTI being released per minute, your reward would be: (0.1 / 1,000) * 10,000 = 1 ULTI per minute.
This system ensures that rewards are distributed fairly based on each participant's contribution to the staking pool.
How to Stake and Unstake
Participating in the event is a simple process through the OKX mobile app.
Staking Process:
- Ensure your BTC or ETH is in your funding account before the event begins.
- Log in to the OKX app, navigate to the "Grow" section, and select "Jumpstart."
- Once the mining starts, click "Stake," enter the amount you wish to commit, and confirm.
Unstaking Process:
- You may unstake your assets at any time without penalty. Click "Unstake," and your BTC or ETH will be immediately returned to your funding account.
- If you do not unstake manually, any remaining staked assets will be automatically released at the end of the mining period. All mined ULTI rewards will be distributed to your funding account within two hours of the event's conclusion.
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Introduction to Ultiverse (ULTI)
Ultiverse is positioned at the forefront of the Web3 gaming revolution. It is an AI-driven production and publishing platform that seamlessly merges advanced artificial intelligence with blockchain technology. The project's core mission is to transform gaming experiences and create enhanced value for players, creators, and investors alike.
By building a robust ecosystem and providing powerful tools, Ultiverse enhances game creation, user engagement, and cross-chain technological integration. It supports a strong infrastructure for AI-powered content creation and fosters strategic alliances to drive widespread adoption of Web3 gaming. The project collaborates with millions of users, hundreds of games, and thousands of content creators, leveraging extensive partnerships to maintain a dynamic and innovative ecosystem.
Token Distribution Overview
The ULTI token distribution is structured to support long-term growth and ecosystem development.
| Category | Allocation |
|---|---|
| Community / Ecosystem | 46.00% |
| Investors | 20.00% |
| Core Contributors | 17.00% |
| Airdrop | 8.00% |
| Jumpstart | 3.00% |
| Liquidity | 3.00% |
| Advisory | 3.00% |
Important Terms and Conditions
Participants should be aware of the following key points:
- OKX reserves the right to disqualify any participant engaged in abusive behavior, such as using multiple accounts, providing false KYC information, or engaging in wash trading.
- The value of digital assets like ULTI can be highly volatile. OKX is not responsible for any market fluctuations that affect the value of rewards earned.
- All applicable taxes and fees associated with receiving and using the rewards are the sole responsibility of the participant.
- Participation in the event constitutes acceptance of all associated terms and conditions.
Risk Warning: This activity does not constitute investment advice, an offer, or solicitation. Digital assets involve a high degree of risk, can fluctuate dramatically, and can become worthless. They are not insured. Past performance is not indicative of future results. You should consider your own risk tolerance and consult with professionals before deciding to trade or hold digital assets.
Frequently Asked Questions
Q1: What is OKX Jumpstart?
A1: OKX Jumpstart is a platform feature that allows users to stake major cryptocurrencies like BTC and ETH to earn rewards from new and promising blockchain projects before their tokens are listed on the open market. It's a way for the OKX community to get early access to innovative ecosystems.
Q2: Can I unstake my assets early and still keep my rewards?
A2: Yes, the staking model is highly flexible. You can unstake your BTC or ETH at any time during the event. When you do, you will receive all the ULTI rewards you have accumulated up to that point, which are then transferred to your funding account.
Q3: Why are there geographic restrictions for participation?
A3: Geographic restrictions are based on the legal and regulatory frameworks of different countries and regions. OKX must comply with local laws governing digital assets and financial services, which necessitates restricting access for users from certain jurisdictions to ensure full compliance.
Q4: What makes Ultiverse a unique project in Web3?
A4: Ultiverse stands out by deeply integrating AI technology with blockchain-based gaming. It’s not just a single game but a full production and publishing platform aimed at empowering creators and enhancing player experiences through advanced technology, setting it apart from more traditional play-to-earn models.
Q5: How do I check my accumulated rewards?
A5: You can monitor your accumulated ULTI rewards in real-time through the OKX Jumpstart interface within the mobile app. The rewards are calculated and updated continuously throughout the mining period.
Q6: What happens if I don't unstake my assets after the event?
A6: You don't need to worry. If your assets are still staked when the event concludes, the system will automatically unstake them for you. Your original staked assets and all mined rewards will be returned to your funding account automatically within two hours.