OCTION Staking Pool opens for users
The OCTION Liquidity Mining Program aims to encourage long term participation to fuel ecosystem growth.
OCTION has officially deployed a proprietary staking pool and will officially go live on 22 September 2021. This staking pool will be available for all investors and $OCTI holders (which is the native token for the OCTION platform). Users will now be able to stake their $OCTI (which you can buy from Pancakeswap) and earn additional $OCTI as rewards. This activity is often referred to as yield farming, which represents a popular concept amongst leading DeFi projects.
By actively participating in yield farming, $OCTI holders will be able to earn passive income on the Binance Smart Chain (BSC) network. This is very similar to a regular proof-of-stake model where users lock up their cryptocurrencies to get rewards after a predetermined period of time.
Key Details
- $OCTI Address: 0x6c1de9907263f0c12261d88b65ca18f31163f29d
- Staking Start Date: 22/9/2021
- Staking Entry Period: 60 Days / 1,728,000 blocks
- Minimum Staking: 4,000 OCTI
- Rewards per Block: 0.2 OCTI
- Total Amount of Rewards: 350,000 OCTI
- Staking Lock Up Period: 30 Days
Reward Distribution
The total amount of rewards available that will be distributed to all stakers will be 350,000 OCTI, at a rate of 0.2 OCTI / block. The minimum amount of tokens required to qualify for staking will be 4,000 OCTI.
There will be a staking lock up period of 30 days upon the start of staking and the staking entry period will last for 60 days. Do note that the rewards will be paid out on a pro-rata basis in accordance with the time and amount of $OCTI that has been staked since day 1. The rewards distribution will begin from approximately block 11135000 and will end at approximately block 12863000 on the Binance Smart Chain network. The whole process is expected to take approximately 60 days.
Unlike typical farms that mint new tokens after every block is completed, OCTION will not be minting any new tokens. Instead, rewards will be distributed from our pre-planned token allocation through the Liquidity Mining wallet. This was designed to ensure that the total supply of $OCTI is fixed, eventually creating a scarcity for the ecosystem which will in turn fuel price growth. OCTION has come a long way since our launch on BSCPad, we are ahead of schedule and will continue to strive to deliver to our community, the best decentralized options trading platform worldwide.
Other Advantages of the OCTION Staking Pool
The other advantages of the staking pool include:
- Enable OCTION to do cross-staking partnerships with other projects
- Enable OCTION to list other projects’ tokens for a staking program
- Enable OCTION to secure B2B collaborations with new tokens which can be listed for options trading
Staking Avenues
Users can go to https://staking.oction.io/ to perform the staking on a laptop or desktop terminal or download the Metamask mobile app, and use the Metamask mobile app’s browser to navigate to the above URL to perform all relevant actions on their mobile phones.
Download Metamask on Iphone: https://apps.apple.com/us/app/metamask-blockchain-wallet/id1438144202
Download Metamask on Android: https://play.google.com/store/apps/details?id=io.metamask&hl=en_SG&gl=US
Thank You
As always, THANK YOU for your continued support, and stay tuned for more exciting news on OCTION!
- The OCTION Team
About OCTION
OCTION is the world’s 1st CeDeFi Options Trading Platform built on the Binance Smart Chain. Users will be able to trade options through CeDeFi, with no middlemen, no centralized organization, lower fees, more option types and zero data or market manipulation. OCTION allows for options trading through a democratic framework on the Blockchain, specifically the Binance Smart Chain.
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