The OKX Jumpstart platform provides a unique opportunity for users to participate in early-stage token sales for promising blockchain projects. This initiative allows OKB holders to pledge their tokens and gain access to new digital assets before they hit the broader market.
One such project was the Element Black (ELT) token sale, which aimed to support a Social-Fi NFT gaming ecosystem. While the specific event has concluded, understanding its structure offers valuable insights into how future token sales on the platform may operate.
Key Details of the ELT Token Sale
The sale was designed with a clear set of parameters to ensure a fair and structured distribution process for participants.
Pledging Timeline and Tokenomics
The event was scheduled for a specific eight-hour window. The sale price for the ELT token was set at a fixed rate for the duration of the event. The total session supply was allocated for the allotment, with no overpledging limit, meaning users could pledge up to the maximum individual cap.
The exchange ratio, which determined how many ELT tokens one would receive per OKB pledged, was calculated based on the OKB market price at a specified time before the event commenced.
Participation Requirements
Eligibility for participation was contingent on two primary factors. First, users needed to be from supported jurisdictions and have completed a specific level of identity verification (KYC) on the platform. Second, a minimum trading volume threshold within a set period before the sale was required to prove user activity.
A Guide to Maximizing Your Allotment
The allocation process was weighted to reward users who maintained a significant and consistent OKB balance.
Step 1: Understanding Allotment Coefficients
The number of tokens a user could receive was not solely based on the amount they pledged but was multiplied by an "allotment coefficient." This coefficient was determined by the user's OKB holdings over three consecutive days prior to the sale.
The platform took random snapshots of user accounts to calculate both the minimum and the average OKB held during this period. The higher of the two corresponding coefficients from the table below was then applied to the user's final calculation.
| OKB Holding Range | Min Holding Coefficient | Avg Holding Coefficient |
|---|---|---|
| [0, 10) | 1 | 1 |
| [10, 50) | 8 | 4 |
| [50, 100) | 16 | 8 |
| [100, 500) | 20 | 10 |
| [500, 1000) | 30 | 15 |
| [1000, 2000) | 36 | 18 |
| [2000, ∞) | 40 | 20 |
For instance, a user with daily snapshots of 50, 2,000, and 3,950 OKB would have a minimum of 50 (coefficient 16) and an average of 2,000 (coefficient 20). The higher coefficient of 20 would be used.
Step 2: The Participation Process
During the token sale window, users could pledge their OKB tokens. The final exchange rate was confirmed at a predetermined time, locking in the value of OKB for the purpose of the token purchase.
Step 3: Receiving Your Tokens
Once the pledging period ended, the allotment was calculated. The corresponding amount of ELT tokens was distributed to users' funding accounts, and the pledged OKB was deducted. Any OKB that was not used in the allotment was released back to the user.
The actual number of tokens allotted to each user was calculated using a specific formula that considered their personal pledge amount, their allotment coefficient, and the total pledges from all participating users. 👉 Explore more strategies for token sales
An Overview of the Element Black (ELT) Project
Element Black positioned itself as a developer within the Social-Fi and NFT gaming space. Its goal was to create a "Create-To-Earn" ecosystem, acting as a bridge between Web2 celebrities and brands and Web3 NFT experiences.
The project announced several high-profile partnerships from the entertainment industry to bolster its credibility and reach. The ELT token itself was an ERC-20 asset with a fixed total supply.
Risk Warning: Trading digital assets involves 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.
Frequently Asked Questions
What was the main goal of the OKX Jumpstart ELT sale?
The primary goal was to distribute ELT tokens to the OKX community in a fair manner, rewarding loyal OKB holders. It provided an early access point for users interested in the Element Black ecosystem before the token became widely available on public exchanges.
How was the allotment coefficient calculated for participants?
The coefficient was based on OKB holdings. OKX took snapshots of users' accounts over three days, calculating both the minimum and average balance. The higher coefficient from the official table corresponding to these values was then applied to increase the user's final token allocation.
Which currencies could be used to participate in the sale?
The sale exclusively supported OKB for pledging. The amount of ELT received per OKB was determined by a fixed exchange rate set according to the market price of OKB at a specific time before the sale began.
What happened to my OKB after the pledging period ended?
After the event concluded, the system calculated your final ELT allotment. The required OKB for purchasing these tokens was deducted from your pledge, and any remaining, unspent OKB was immediately released from hold and returned to your available balance.
Who was excluded from participating in this token sale?
Residents of several countries and regions, including but not limited to the USA, Canada (Ontario and Quebec), China mainland, Hong Kong, and others listed in the official notice, were unable to participate due to regulatory considerations.
Where can I learn about upcoming token sales on OKX Jumpstart?
The platform regularly announces new projects on its official website. Keeping an eye on official announcements is the best way to stay informed about future opportunities. 👉 Get advanced methods for tracking new listings