Introducing the SUI Token Sale on OKX Jumpstart
Dear OKX users,
The SUI Token sale on OKX Jumpstart will take place on April 23 on OKX Jumpstart in the form of a token allocation lottery. OKB holders can use their OKB to obtain lottery tickets, and winning tickets will have the opportunity to purchase SUI. An additional Recognition Sale will be available for Sui ecosystem contributors. The details are as follows:
*US persons are ineligible to participate
1. General Sale information
a. General sale Allocation: 225,000,000 SUI
b. SUI Token Sale price: 1 SUI = 0.1 USD
c. Maximum individual purchase quantity: 10,000 SUI
d. Payment Currency: OKB
e. Exchange rate: Determined by the price of OKB, which is calculated by taking daily snapshots of OKB's price at 16:00 UTC from April 15 to April 19.
An additional Recognition Sale will be available for Sui ecosystem contributors only. To participate in the Recognition Sale, users must have been officially allowlisted by the Sui Foundation. Allowlisted users can purchase up to 1,500 SUI from a pool of 25,000,000 SUI for the price of just 0.03 USD, and the tokens will be fully unlocked during the mainnet launch. Allowlisted users can then use OKB to purchase SUI during the event on OKX Jumpstart. Anyone who participates in this special event will still be able to participate in the token allocation lottery.
2. Details
a. General sale Subscription period: 23 April 2023 02:00 UTC to 24 April 2023 02:00 UTC
b. Lottery tickets: The number of tickets you can subscribe depends on the average amount of OKB held for the 3 days before the subscription date (April 20-22). This is calculated by taking a daily snapshot of your holdings for these 3 days. For each OKB token held, you can get 4 tickets. Winning tickets contain 100 SUI and for each unsuccessful ticket you purchase, your OKB will be refunded.
c. Calculation of winning tickets: After the subscription period is over, internal systems will randomly determine which tickets are successful and unsuccessful. Winning tickets and refunded OKB will be distributed on the same day. For specific winning results, please refer to the details on the event page.
d. Winning ticket quota: The number of winning tickets each user can receive is hard capped at 100 (10,000 SUI)
e. SUI token assignment schedule: The awarded SUI tokens will be distributed over a 12-month period. After confirming the number of winning tickets, users will receive the first batch of SUI tokens once the mainnet launches, and an additional 1/13 can be unlocked on the same day each month. Unlocked SUI tokens will be automatically released into users' Funding accounts. Please follow the event page details for specific assignment schedule.
3. Rules for participation
a. Users must complete KYC2 verification to be eligible.
b. Participants must use their main OKX account — sub-accounts are forbidden.
c. Users can only participate in the lottery through the OKX app.
d. Certain countries and regions are unable to participate in this activity. See Notes for details
4. How you can participate
Step 1: maximize your OKB holdings
- From April 20-22, 2023, a daily snapshot of your OKB holdings will be captured across your OKX Funding account, Trading account, and Earn account.
- For every 1 OKB you hold, you can obtain 4 tickets.
- The amount of OKB you hold will be rounded down to the nearest whole number.
OKB holdings snapshots explained: If your OKB snapshots are 1.5 OKB, 4.7 OKB, and 10.9 OKB across the 3 days before subscription day, your average holdings will be 5.7 OKB ([1.5 + 4.7 + 10.9]/3), and the corresponding number of tickets will be (5 * 4) = 20
Step 2: subscribe to the lottery
- After opening the Subscription page, select "Subscribe Now" and enter the number of tickets you'd like to purchase.
- Use OKB to pay for the tickets.
Step 3: Collect your winnings
After the subscription window is over, the system will conduct a random lottery and distribute the winning tickets to participants on the same day. For specific winning results, you can refer to the details on the event page. Your new SUI will be distributed to your Funding account in batches, and the remaining OKB (from losing tickets) will be returned to your Funding account the same day.
5. Activity examples
Here, we'll illustrate the subscription process through 4 users, A, B, C, and D, in order to demonstrate OKB snapshot data and personal subscription limits.
| User | A | B | C | D |
|---|---|---|---|---|
| OKB daily snapshot amount | 5 | 50 | 500 | 2,000 |
| Maximum number of tickets | 20 | 200 | 2,000 | 8,000 |
| User | A | B | C | D |
|---|---|---|---|---|
| Number of tickets | 20 | 200 | 2,000 | 4,000 |
| OKB paid | 5 | 50 | 500 | 1,000 |
After the lottery ends, users will receive their winning tickets and their SUI tokens will be distributed over the following 12 months. The number of winning tickets is capped at 100, as shown with user D.
| User | A | B | C | D |
|---|---|---|---|---|
| Number of winning tickets | 0 | 36 | 88 | 100 |
| OKB paid | 0 | 9 | 22 | 25 |
| Amount of SUI tokens to be received | 0 | 3,600 | 8,800 | 10,000 |
6. Project introduction
Sui (or Sui Network) is the first Layer 1 blockchain designed from the ground up to enable creators and developers to build experiences that cater for the next billion users in web3. Sui is horizontally scalable to support a wide range of dApp development with unrivaled speed and low costs. The first-of-its-kind platform brings users a general-purpose blockchain with high throughput, instant settlement speeds, rich on-chain assets, and user-friendly web3 experiences. Sui is a step-function advancement in blockchain, designed from the bottom up to meet the needs of everyone involved in crypto.
Full name: Sui Network
Token name: SUI
Total supply: 10,000,000,000
Initial coin circulation: 528,273,717
Token type: Mainnet
Official website: https://sui.io
Discord: https://discord.com/invite/sui
Twitter: https://twitter.com/SuiNetwork
7. Important notes:
- OKX will calculate the total number of OKB in your Funding account, Trading account, and Earn account. OKB used as collateral for loans won't be included in your average holdings, but OKB borrowed through loans will be.
- According to current laws and regulations, users from the following countries or regions (based on KYC information) can't participate in the lottery:
Cuba, Iran, North Korea, Crimea, Malaysia, Singapore, Syria, The US, including all US territories such as Puerto Rico, American Samoa, Guam, Northern Mariana, and the US Virgin Islands (St. Croix, St. John and St. Thomas), The Bahamas, Canada, Bangladesh, Bolivia, Donetsk, Luhansk, Malta, Belarus, Ukraine and Russia. - Users found to be involved in any fraudulent activities such as using sub-accounts, click-farming or any other illegal conduct or activity, or that are in violation of any relevant user agreements, rules, policies and terms of agreements issued by OKX related to this or any other project, campaign or announcements (which OKX reserves the right to amend), or if a user abuses or disrupts the lawful operation of this project, OKX reserves the right, at its sole discretion, to cancel or suspend the user's participation in this project and withdraw all rewards gained during this project.
- OKX reserves the right to final decision in any event related to this project. OKX reserves the right to interpret the applicable rules and policies related to this project and decide all matters related to this project and its related activities. OKX reserves the right to modify the rules of this project at any time at its sole discretion.
Risk Warning:
Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
OKX Team
April 15, 2023