Original | Odaily Planet Daily (@OdailyChina)
At 8:15 PM tonight, according to official news from OKX, OKX Wallet has officially launched the first phase of the X Launch event on OKX Boost, with the project being Linea (LINEA). Linea, developed and operated by ConsenSys, is an Ethereum Layer 2 scaling solution based on zkEVM, compatible with Ethereum development tools and smart contracts, offering low transaction costs and Ethereum-level security. Eligible users can participate in sharing a prize pool of 162,022,478 LINEA tokens.
Below, Odaily Planet Daily will provide you with a comprehensive understanding of the OKX Boost event.
OKX Wallet Launches OKX Boost Product to Connect Real Users with Innovative Projects
On September 3, OKX Wallet announced the official launch of the OKX Boost product, aimed at building an efficient bridge between on-chain innovative projects and real users. This product will provide users of the OKX DEX aggregator with the opportunity to participate in innovative projects at the earliest time, while helping project parties gain exposure to real users. This upgrade integrates various activity formats such as Giveaways, Cryptopedia, and Trading Arenas, forming three main modes: X Launch, Giveaway, and Trading Competitions, continuously optimizing user experience under the principles of fairness and transparency.
In terms of functional design, OKX Boost introduces two metrics: Boost Trading Volume and Boost Balance, to determine user eligibility and potential rewards, while achieving a fully decentralized reward distribution mechanism, ensuring that the process of fund collection and distribution operates at the Ownerless contract level, with the contract code open-sourced.
Additionally, OKX founder and CEO Star stated on the X platform that OKX Boost is a channel for quality projects to settle on OKX DEX, while also providing rewards for genuine DEX users. OKX will select eligible Boost projects based on real DEX data and list them on the CEX spot and derivatives markets, with the team consistently encouraging real trading and not supporting or recognizing any false trading, nor guaranteeing any profits from non-genuine trading.
Detailed Explanation of Boost Calculation Rules
Boost data comprehensively reflects the user's trading activity on OKX DEX over the past 15 days (Boost Trading Volume) and the asset holdings in OKX Wallet (Boost Balance). These two metrics will be used for various activities under OKX Boost, affecting user activity eligibility and reward amounts (data from the day before OKX Boost will be updated daily at 00:00 UTC).
Boost Trading Volume Calculation Rules
Boost Trading Volume calculates the trading volume of users through the OKX DEX aggregator on Solana and EVM-compatible networks. Trading pairs are categorized into groups, with each group corresponding to different trading volume multipliers as follows (Boost Trading Volume = Trading Volume × Multiplier), where Category 1 tokens are mainstream mainnet coins, stablecoins, and liquid staking tokens; Category 2 tokens are mainstream tokens with larger market caps such as UNI, DOGE (excluding Category 1 tokens); Others: all tokens not included in Category 1 and Category 2 (click here to view specific token classifications: https://web3.okx.com/zh-hans/dex-fees/tokens):
- Category 1 < > Category 2: 0.25x;
- Category 2 < > Category 2: 0.25x;
- Category 1 < > Other Tokens: 1x;
- Category 2 < > Other Tokens: 1x;
- Category 1 < > Category 1: Not counted;
- Other Tokens < > Other Tokens: Not counted.
Example of Specific Token Classification
Boost Balance Calculation Rules
Boost Balance refers to the average daily balance of Category 1 tokens held by users in OKX Wallet, excluding the value of DeFi and NFT holdings. The scope of statistics may change in the future, and more trustworthy tokens will be gradually included.
How to Check if You Meet Participation Eligibility?
The participation conditions for the first phase of the X Launch event project for Linea are: a minimum Boost Balance of $10 and a minimum Boost Trading Volume of $32 (statistical date from August 24 to September 7).
The web version of the participation activity site (link: https://web3.okx.com/zh-hans/boost/x-launch/linea), connect your wallet, and check if you have the eligibility to invest (if you have not created an OKX Wallet, click here to apply: https://web3.okx.com/).
The process flowchart for participating in the activity on mobile is as follows:
If you do not meet the conditions, you can refer to the participation conditions for Linea to decide on the tokens, trading volume, and other metrics to use OKX Wallet for trading to meet the participation conditions for the second phase project.
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