OKX Announces Staking of BTC and ETH for Ultiverse (ULTI) Mining

OKX has introduced the launch of its new Jumpstart Mining occasion, which is able to enable customers to stake Bitcoin (BTC) and Ethereum (ETH) to mine Ultiverse (ULTI) tokens. The occasion is scheduled to begin at 6:00 am UTC on June 3, 2024, and can run till June 6, 2024, in response to OKX.

Staking Guidelines and Rewards

Individuals can stake BTC or ETH to earn ULTI tokens, with a complete of 150,000,000 ULTI tokens out there in every staking pool. There aren’t any minimal staking necessities, however the most allowable quantity per individual is 0.3 BTC or 3.5 ETH. Customers can stake and unstake their tokens at any time throughout the occasion. Mined tokens might be out there for buying and selling beginning June 6, 2024.

Situations of Participation

Notably, residents of Mainland China, Hong Kong, and South Korea are ineligible to take part on this marketing campaign. Individuals should additionally full id verification to participate within the mining occasion.

Calculation of Staking Rewards

Staking rewards are calculated in real-time and might be withdrawn at any time. The system for calculating rewards per minute is:

Person’s per minute rewards = (Quantity of staked token / Whole quantity of staked token) * Quantity of tokens launched per minute.

For instance, if a person stakes 0.1 BTC out of a complete of 1,000 BTC staked, and the quantity of tokens launched per minute is 10,000, then the person’s per-minute reward can be 1 ULTI token.

Staking and Unstaking Instructions

The staking course of is easy: switch BTC or ETH to a funding account, navigate to the Develop part within the OKX app, and click on Jumpstart. After the mining begins, choose ‘Stake,’ enter the specified quantity, and make sure. To unstake, merely click on ‘Unstake’ to launch the tokens again to the funding account. If not unstaked early, rewards might be routinely distributed inside 2 hours after the occasion concludes.

About Ultiverse ($ULTI)

Ultiverse goals to revolutionize the Web3 gaming panorama with its AI-driven manufacturing and publishing platform. It integrates superior AI and blockchain know-how, aiming to boost gaming experiences and worth creation. The ecosystem helps AI-powered content material creation and strategic alliances, fostering Web3 adoption. Ultiverse collaborates with tens of millions of customers, lots of of video games, and 1000’s of content material creators to take care of a dynamic and progressive ecosystem.

Venture Particulars and Token Distribution

Token distribution is as follows:

Core Contributors17.00%
Group / Ecosystem46.00%

Phrases and Situations

Individuals from sure nations, together with Mainland China, Hong Kong, and South Korea, are restricted from collaborating. Moreover, sub-accounts usually are not eligible for this occasion. The worth of prizes could fluctuate because of market situations, and any relevant taxes or charges would be the duty of the prize recipient. OKX reserves the fitting to disqualify contributors participating in dishonest or abusive conduct.

For extra particulars on the phrases and situations, consult with OKX’s official web site.

Picture supply: Shutterstock

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