OKEx launches early bird voting for Kusama parachain slot auctions

To encourage the Polkadot community and the construction of its ecosystem, OKEx supports Kusama parachain slot auctions with exclusive early bird voting.Users will be able to quickly and conveniently participate in slot auctions on OKEx with zero gas fees and will get DOT rewards from OKEx as well as rewards from the projects that users vote for.

What is early bird voting?

OKEx’s support of Kusama parachain slot auctions will allow users to vote for projects before the auction officially begins. During early bird voting, users can get rewards from both OKEx and the projects they vote for. Once the official auction starts, OKEx will vote on behalf of the users.

Note: The KSM used to vote during the early bird voting session will be locked and cannot be canceled.

Kusama slot auction opening time:

Kusama early bird voting: 12:00 Jun 8 (UTC) - 12:00 Jun 15 (UTC)

Kusama auction official start: 12:00 Jun 15 (UTC)

OKEx early bird voting rewards: DOT rewards with an estimated 30% APY rewards from projects

Period: 12:00 Jun 8 (UTC) - 12:00 Jun 15 (UTC)

Rules:

• Users can vote for projects before the auction officially starts via staking KSM and will get DOT rewards with an estimated 30% APY as well as rewards from the projects they vote for.

There are two parts of rewards. The DOT rewards from OKEx will be distributed to users finance account within 10 workdays after the event. The project token rewards will be distributed according to its separate rewards plan, once the tokens are transferable.（Detail:"Parachain slot auction"）

• Early bird reward details:

Notes:

1. DOT rewards will be up to $100,000 worth of DOT, the actual APY will be determined by the number of KSMs voted.

2. Please refer to the slot auction page for details on the rewards plan of each project.

3. After participating in the early bird voting, the staked KSM will be locked; once the auction begins, all of the KSM that a user staked will be used to vote in accordance with Polkadot’s official rules.

4. The DOT rewards from OKEx will be distributed to users finance account within 10 workdays after the event.

The entrance：

To join via web, navigate to Finance in the top menu and choose Earn. Then, enter the slot auction page through the "Parachain slot auction."

From the OKEx app, select Earn from the home screen and then enter the slot auction page by tapping "Parachain slot auction"

For quick access to the slot auction page, visit https://www.okex.com/earn/slotauction

OKEx
Jun 8, 2021 (UTC)