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Introducing Okto Points: Everything you need to know


We at Okto are building the Orchestration Layer of Web3 with the Okto Chain, to level up Chain Abstraction. The Okto Wallet is the first wallet built on  Chain Abstraction and is super powerful Web3 trading wallet . This Okto Chain will be secured  by the $OKTO token in the future and Okto Points are the first way to become a part of the Okto Chain’s success.


What are Okto Points?


Okto Points are designed to make your Okto experience more rewarding. You start earning points for all on-chain transactions with the Okto wallet, including depositing crypto, buying and selling tokens, placing futures trades, participating in airdrop quests, and more, plus for inviting your friends to Okto.


Okto Points are a precursor to the $OKTO token. The $OKTO token aligns network incentives for security and bootstrapping the application network. To bootstrap the network, an initial 7% of the token allocation is reserved for early adopters, allocated through Okto Points. Read more about $OKTO token here.


How to earn Okto points?


  1. For On-Chain Traders, Import Your Existing Crypto Wallet: 20M initial Okto points dropped to all eligible on-chain traders of popular crypto wallets, including MetaMask, Trust, OKX, Bitget Wallet etc. Check here on how many points were dropped to your wallet.

  2. For Traders using Centralized Exchanges, Deposit & start trading: Deposit from top centralized exchanges (like Binance, Bitget, Bybit, etc.) to receive a 1.5x bonus points reward. Additionally, enjoy a flat 1% fee on your futures derivatives trades for the initial $1M futures volume. Check here for details.

  3. For all On-Chain Activities on the Okto Wallet App:

    1. You earn points for all on-chain activities on the Okto Wallet app. This includes depositing crypto, buying and selling tokens, placing futures trades, participating in airdrop quests, and more.

    2. There are also some bonus quests that are live on the app to further accelerate your points journey.

  4. Invite your crypto gang and get referral benefits: Invite your crypto gang to Okto. Get fixed 50 points + 25% points of every successful referral.


Understanding How Referral Works



Initiating Referrals:

When you share your referral code with new users who sign up using it, their initial status will be listed as “Pending” within your app. This helps you keep track of new sign-ups that have yet to complete their initial deposit.


Note: To enter the referral program, a new user must input 'your referral code' on their Points page after creating their Okto wallet.



Successful Referrals:

Once a referred user deposits at least $50, their status updates from “pending” to “Referrals” on your app. This indicates they are now a successful referral, contributing directly to your rewards. Referrals marked as pending will be updated to successful every Friday at 2 PM UTC. Referral points will also be credited at that time.


Earning Referral Rewards:

Every Friday, rewards for successful referrals are credited to your account. You will receive a one-time bonus of 50 points for each successful referral, plus an ongoing 25% of the points they earn. These points will appear under the “Earned” header within your app, allowing you to see the benefits of your referral activity.


Important: Points are calculated weekly and credited to the user’s account every Friday 2 p.m. (UTC). The observation period for calculating these points ends the day before, on Thursday. Therefore, any trades made on Friday will be included in the points calculation for the next week's Friday update.


Retro Points: Celebrating Our Early Supporters


All existing Okto users were dropped retrospective bonus points for being an early user of the Okto Orchestration Layer.


Upcoming Okto Points Schedule


Here’s what’s coming up in the Okto Points program. Mark your calendars to make the most of these opportunities:

Milestone

Schedule

Season 1

May 14 to July 14, 2024

Season 2

Jul 15 to Sep 15, 2024

Points conversion

Q4

Not just another points program!


Okto Points program is built to truly reward our users and take them on the path of a simplified Web3 world through Chain Abstraction. We believe in three key principles:


  • Transparent: Web3 is built on the foundation of transparency and Okto follows it via: 

    • Upfront 7% $OKTO token allocation for Okto Points hodlers, with lots more planned for the community (to be detailed in next phase of tokenomics)

    • Points public dashboard will be made available on the Okto Wallet App

    • Points seasons announced in advance

  • Rewarding: Just like how Web3 is designed to reward every on-chain action, Okto rewards you irrespective of how you join Okto: 

    • Retro points allocation to all early Okto users

    • External wallet import bonus for new users based on on-chain history

    • Further bonus when user makes deposit from centralized exchanges

  • Fairness: To ensure a level playing field for all genuine users, Okto emphasizes strong sybil checks:

    • Partnership with leading ant-sybil establishments to prevent fraud

    • Rigorous verification processes & regular audits to prevent unfair advantages

    • Okto holds the final rights to cancel any points received in an unfair manner


Read about the terms and conditions of the Okto Points here.

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