Introduction to the ELT Token Sale
We’re excited to announce the ELT (Element Black) token sale event on OKX Jumpstart, offering participants an opportunity to acquire ELT tokens at an exclusive rate. This guide provides comprehensive details about the sale mechanics, participation requirements, and project background.
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Key Sale Details
1. Pledging Timeline and Token Specifications
- Sale Period: 2:00 am UTC to 10:00 am UTC on April 20, 2022
- Token Price: $0.007 per ELT
- Exchange Rate: Determined by OKB market price at 4:00 pm UTC on April 19, 2022
- Supply Allocation:
- Total session supply: 40,000,000 ELT
- No upper pledging limit
2. Participation Requirements
- Geographic Restrictions: Available only to users from eligible countries who complete KYC Level 2 verification
- Trading Volume Minimum: $5,000 cumulative trading volume within 30 days preceding the sale
3. Pledging Mechanics
- Minimum Commitment: 1 ELT
- Maximum Commitment: 260,000 ELT per participant
- Allocation Formula: Based on OKB holdings maintained for 3 consecutive days (April 17-19, 2022)
How to Participate (Step-by-Step Guide)
Step 1: Optimize Your Allocation Coefficient
Your token allocation depends on your OKB holdings:
– Snapshot Methodology: Daily random snapshots of OKB balances across Funding, Trade, and Finance accounts
– Coefficient Calculation: Uses the higher value between:
– Minimum 3-day holding amount
– Average 3-day holding amount
| OKB Holding Range | Minimum Holding Coefficient | Average Holding Coefficient |
|---|---|---|
| 0-10 | 1 | 1 |
| 10-50 | 8 | 4 |
| 50-100 | 16 | 8 |
| 100-500 | 20 | 10 |
| 500-1,000 | 30 | 15 |
| 1,000-2,000 | 36 | 18 |
| 2,000+ | 40 | 20 |
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Step 2: Executing Your Participation
- Accepted Currency: OKB only
- Conversion Rate: Locked at the OKB price 10 hours before sale commencement
Step 3: Receiving Your Allocation
- Tokens distributed to Funding Accounts post-sale
- Unused OKB released from hold
- Allocation formula: (Individual coefficient × Committed OKB) / (Sum of all participants’ coefficients × Committed OKB) × Total session supply
About Element Black (ELT)
Element Black is revolutionizing the NFT space with its Social-Fi gaming ecosystem, focusing on:
– NFT 2.0 and Create-To-Earn models
– Bridging Web 2.0 celebrities/brands with Web 3.0 experiences
– Strategic partnerships with entertainment industry leaders
Token Metrics:
– Name: Element Black
– Ticker: ELT
– Total Supply: 4 billion tokens
– Blockchain: ERC-20 standard
– Official Channels: Website | Twitter
Frequently Asked Questions
1. What determines my token allocation amount?
Your allocation depends on both your OKB holdings during the snapshot period and the amount you commit to the sale. The system uses a weighted formula to ensure fair distribution.
2. Can I participate if I’m a new OKX user?
New users must complete KYC Level 2 verification and meet the $5,000 trading volume requirement within 30 days prior to the sale.
3. How are the snapshot times determined?
Snapshots occur randomly each day during the 3-day qualification period to prevent gaming of the system.
4. What happens to unused OKB after the sale?
Any OKB not used for token purchases will be released back to your available balance immediately after distribution completes.
5. Are there geographic restrictions?
Yes, residents of certain jurisdictions including the U.S., Canada (Ontario/Quebec), China, and several other countries are excluded due to regulatory requirements.
6. When will I receive my ELT tokens?
Tokens will be deposited to your Funding Account within 24 hours after the sale concludes.
Important Disclaimers
- OKX reserves the right to disqualify participants engaging in fraudulent activities
- All decisions regarding interpretation of sale rules are final
- Rules may be amended at OKX’s discretion
- Risk Warning: Digital asset investment carries substantial risk of capital loss
Last updated: April 2022