OKEx, the leading global cryptocurrency platform through its OKEx Jumpstart initiative is in the process of extending its support to ROAD – a “Distributed Internet of Vehicles” economic system through its 9th token sale, set to go live on November 14, 2019. During the token sale event, the ROAD platform’s namesake ROAD tokens will be made available to the OKEx community, followed by spot trading support.
ROAD is a blockchain technology-based auto ledger solution that covers full life-cycle interaction and accounting systems for automobiles. The auto ledger is an internet-of-vehicles and intelligent transportation system built on individual interaction and cluster intelligence. With the gradually increasing penetration of 5G technology and IoT, the auto ledger backed business ecosystem offers a range of crucial solutions like driver assistance, vehicle condition monitoring, road rescue service, car maintenance, refueling and charging, parking management, community social service and more. Further, cluster intelligence allows for management and monitoring of transportation and logistics systems, supply chain management, etc.
The solutions proposed by ROAD can be applied in both personal as well as commercial settings. However, given the scale of requirements in the commercial transportation and logistics industry, ROAD helps coordinate resources exchange between vehicle nodes and heterogeneous chains. OKEx Jumpstart will be listing the total supply of 2,000,000,000 ROAD at a price of $0.01428 per token. In order to take part in the sale, users will have to subscribe to a minimum of 21,000 ROAD against payment in OKB. The exchange rate of OKB/USD will be confirmed on November 14, 2019, the day ROAD token sale goes live.
The OKEx Jumpstart ROAD token sale will be followed by 2 subscription sessions – the OKBelievers Exclusive Allotment Session which opens at 4:00 UTC and OKTraders Privilege Allotment Session at 5:00 UTC on the same day. Both subscription sessions will have 84,000,000 and 56,000,000 ROAD allocated to them respectively, with an individual cap of 280,000 ROAD.
Eligibility for OKEx Jumpstart Token Sale
The allotment of tokens is split across two subscription sessions. The OKBelievers Exclusive Allotment Session and the OKTraders Privilege Allotment Session. In order to be eligible for the OKBelievers Exclusive Allotment Session, the said uses should have maintained a daily minimum of 100 OKB over a period of 30 days before the commencement of OKEx Jumpstart token sale. In case, the user fails to maintain the minimum daily holding requirement they are not eligible to participate in the token sale. However, they can purchase more OKBs to make up for the deficit and regain eligibility after satisfying the average daily holding requirement on a later date. The duration of OKB holdings will improve the allotment coefficient, making them eligible to purchase more tokens during the Jumpstart token sale. In case, there is a difference in allotment coefficients for daily and average holding requirements for a user, then the platform will consider the coefficient that is higher.
Similarly, the OKTraders Privilege Allotment also implements an allotment coefficient which is based on the users’ cumulative OKEx spot trading volumes (in bitcoin). However, the OKTraders Privilege Allotment is generally limited to projects that are offering a bulk of its tokens on sale.
All payments related to subscription and purchase of tokens on OKEx Jumpstart has to be carried out only in OKB, subject to KYC 2 verification of participants. Each subscription will last for a duration of 30 minutes. The successfully subscribed tokens will be deposited in the users’ OKEx Funding Account following the deduction of corresponding OKB amount towards subscription payment.
A detailed description of rules governing OKEx Jumpstart token sale is provided at this link
Following the token sale, spot trading pairs of ROAD/USDK and ROAD/USDT will go live at 7:00 UTC and 9:00 UTC respectively.