Dear valued customers:

Since the first Happy Friday bonus distribution on April 20, 2018, OKEx has already airdropped 33,209.73 BTC to more than 1 million OKB holders. For a better development of the OKB ecosystem, we decided to enhance the distribution rules from Mar 29, 2019. Instead of distributing the reward bonus in BTC directly, we will first buy back OKB with the BTC, and then distribute the bonus in OKB to users with the existing snapshot and holding ratio rules. Details as follows:

- The total distribution amount remains unchanged. Holding OKB continuously can earn a higher distribution ratio. The distribution time also remains unchanged at 12:00 on every Friday (CET, UTC+1);

- Snapshot of OKB holdings will be taken daily from 11:00 to 11:10 (CET, UTC+1);

- Every Friday, a user’s bonus will be calculated by using the ratio of the user’s 7-day accumulated holding to the sum of all users’ 7-day accumulated holding;

- The definition of holding and its calculation:

- To avoid the complexity the small amounts of OKB bring to the calculation, any holdings of less than 100 OKB will not be eligible for the bonus distribution, and will be regarded as zero;

- A snapshot cycle starts from Saturday and ends on next week’s Friday (7 days in total);

- The valid holding on every Friday will be the snapshotted amount of the day.

- Calculations of valid OKB holding amount for the previous 6 days: each day’s valid holding amount is determined by the smaller amount of Day n and Day n+1

5) The total supply of OKB is 1 billion. Now 70% of the supply is locked-up. Only the circulating portion, which is 300 million OKB, will be taken into the calculation of the BTC reward bonus. The BTC bonus will then be used to buy back OKB. We will distribute the OKB bonus to OKB holders based on the existing snapshot and distribution rules.

- Calculation of the bonus:

1) Calculate the sum of the daily holding of each user in the past 7 days to get the valid accumulated holding of the week (n);

2) Calculate the sum of the accumulated holding of the week of all users (m);

3) The distribution ratio for each user for the week will be = n/m;

4) The bonus of each user can receive for the week = (The amount of OKB bought back with this amount: the OKEx transaction fees of the week * 50% * 30%) * the distribution ratio of the user for the week.

For example, the amounts of OKB held by user A and B are as follows:

Date |
Snapshotted amount – user A |
Valid holding – user A |
Snapshotted amount – user A |
Valid holding – user B |

May 11 |
10,000 |
10,000 |
10,000 |
10,000 |

May 10 |
10,000 |
10,000 |
1,000 |
1,000 |

May 9 |
8,000 |
8,000 |
6,000 |
1,000 |

May 8 |
8,000 |
8,000 |
8,000 |
1,000 |

May 7 |
8,000 |
8,000 |
99 |
0 |

May 6 |
8,000 |
8,000 |
8,000 |
0 |

May 5 |
8,000 |
8,000 |
8,000 |
0 |

If this week 200,000 OKB are bought back, the 7-day accumulated valid holding of all users is 1.5 billion OKB (max 2.1 billion), the 7-day accumulated valid holding of user A is 60,000, and the 7-day accumulated valid holding for user B is 13,000,

The bonus A can get = 200,000 OKB * 60,000/1.5B = 8 OKB

The bonus B can get = 200,000 OKB * 13,000/1.5B = 1.73 OKB

Note: master and sub accounts will be snapshotted and processed separately for the bonus distribution.

OKB Happy Friday will last for 2 years. 49 weeks have past so far. We will enhance the distribution rules according to the OKB holders’ feedback and actual circumstances, but we will not adjust the total distribution amount.

Thank you for your continued support and we assure you of our best services at all times.

Regards,

OKEx

Mar 29, 2019