As mentioned in our recent announcement, OKX will be reopening withdrawals on or before Nov. 27. To express our gratitude to our community, and in particular to our loyal users for their trust during this difficult period, we will launch the following compensation and reward programs after the reopening of withdrawals:
1. For users who have made deposits, held tokens or traded during the period in which withdrawals were closed, OKX will put 20% of its total income from futures and perpetual swap transaction fees over the last seven weeks into an incentive fund that will be issued as a one-time payment to users based on their assets and transaction conditions.
For OKB holders, the value of their OKB (in USDT) will be doubled in the asset weight calculation process.
2. For users whose assets exceeded 10,000 USDT before 4:00 pm UTC on Nov. 23, OKX will issue a commission rebate card valued between a minimum of 100 USDT and a maximum of 1,000 USDT.
3. For all platform users, further futures and perpetual swap transaction fee income incentives will continue to be issued every Friday, and OKB holders will always have the option of having their OKB asset weight calculation doubled.
Specific details of the compensation and reward programs are listed below:
I. Happy Friday Reward Program
1. Event date: Dec. 4 for the initial event, with recurring events every Friday thereafter.
2. User qualifications: Users whose daily average assets on OKX is greater than or equal to 100 USDT or whose daily average trading volume is greater than or equal to 100 USDT and whose identity verification level is 2 or higher.
a. At 9:00 am UTC every Friday, OKX takes 20% of the income from transaction fees from futures and perpetual swap trading and puts it into a reward pool to distribute to all users in BTC in proportion to the ratio of their total effective assets and trading volume.
b. Reward calculation for total effective assets:
The reward a user can receive in this part = OKX’s futures + perpetual swap transaction fee income for the week * 10% * user’s daily average of total asset value / sum of total daily average asset values of all users.
Futures + perpetual swap transaction fee income of the week: The total transaction fee income from these two markets from 4:00 pm UTC of the previous Thursday to 4:00 pm UTC of the upcoming Thursday.
User’s daily average of total asset value: The total value of mainstream assets in each account of a user is snapshotted at 4:00 pm UTC every day for seven days from the previous Thursday. The total effective asset value is calculated based on the closing price of the mainstream assets on the OKX platform of the day in USDT equivalent. A user’s daily average of total asset value = the sum of daily total asset value from last Friday to the current Friday / 7.
If the total daily asset value of the user is > 10,000 USDT, it will be calculated as 10,000 USDT.
c. Reward calculation for effective trading volume:
· The reward a user can receive in this part = OKX’s futures + perpetual swap transaction fee income of the week * 10% * user’s daily average trading volume / daily average trading volume of all users.
· Daily average trading volume of a user: Every Thursday, a snapshot will be taken of the user’s total trading volume of spot, margin, futures, perpetual swap and options from 4:00 pm UTC the previous Thursday to 4:00 pm UTC the current Thursday. User’s daily average trading volume = total trading volume the previous Thursday to the current Friday / 7.
· If a user’s daily trading volume exceeds 30,000 USDT, it is deemed as 30,000 USDT in calculation.
4. Special remarks:
a. The user’s effective assets are the sum of the asset value of the platform’s 20 mainstream assets valued in USDT. The selection of the 20 mainstream assets takes into account multiple criteria, such as market value, trading volume and number of users, which may be updated irregularly in the future. The first iteration of the asset list includes OKB, USDT, BTC, ETH, LTC, BCH, LINK, EOS, BSV, TRX, ETC, DOT, XRP, ZEC, NEO, ATOM, UNI, DASH, ADA and SUSHI.
b. OKB value will be doubled when converted into USDT for total effective asset calculation, while other assets are converted normally.
c. In appreciation of the support from our loyal users during the withdrawal suspension period, we will take 20% of the income from futures + perpetual swap transaction fees from Oct. 16 to Dec. 4 (seven weeks in total) to calculate the first Happy Friday incentives on Dec. 4. A snapshot of the daily average of users’ total assets and trading volume will be taken over the same period.
d. Assets in a user's Savings Account are included in the total effective asset calculation, while margin loans are subtracted from the total.
e. Sub-accounts are excluded from this program.
II. Service fees waived and refunded to users
1. Eligibility: Users with a snapshot of net assets of more than 10,000 USDT in their accounts as of 4:00 pm UTC on Nov. 23.
2. Reward campaign rules and conditions:
We will redistribute service fees based on the following table into service fee rebate cards before withdrawals resume:
Net assets (Unit: USDT)
Refunded service fees
300,000 or more
Notes：Assets are calculated based on the combination of master and sub accounts
The use of all fee rebate cards in the aforementioned reward campaigns will not affect the incentive payment quota for future Happy Friday events. OKX will use the platform's own funds to allow for the use of rebate cards to ensure that all eligible users receive these benefits.
We're grateful for the continuous support and trust from our users, it is crucial to the long-term sustainability of our platform. Looking ahead, we will continue to optimize our products and services, and introduce additional features to continue improving the trading experience on OKX.
Last but not least, we would like to extend our sincere apologies and gratitude to our users for their unwavering support.
A step-by-step guide to purchasing and selling crypto on OKX,
Step 1: Log in to your OKX account
Before you can start buying or selling cryptocurrency on OKX, you must first log in to your OKX account. If you do not yet have an account, click Sign up and complete the registration process.
Step 2: Select Buy/Sell
Once you have logged in to your OKX account, click Buy Crypto in the upper left-hand corner of the screen to get started.
Step 3: Select your purchasing method
The next step is to choose how you would like to buy or sell . There are two primary options on OKX: Express and P2P trade.
Finally, simply confirm your transaction details.