BingX Over Protocol Launchpool: Stake USDT & BTC to Earn OVER

• BingX is gearing up to launch OverProtocol (OVER) on its Launchpool platform, offering users the chance to stake USDT and BTC to earn a share of 400,000 OVER tokens.
• OverProtocol aims to simplify blockchain use for everyone by streamlining the entire blockchain stack, making it accessible even for those without technical expertise.
• This Layer 1 mainnet promotes new peer-to-peer financial models, encouraging broader participation in the blockchain space.

Launchpool Schedule and Details

Staking and Listing Dates:

• Staking Period: August 31, 2024, 07:00 UTC to September 3, 2024, 07:00 UTC.
• Listing Date: To be announced in a forthcoming listing update.

Token Rewards and Distribution:

The total prize pool for this event is 400,000 OVER tokens, divided between USDT and BTC staking pools:

• USDT Pool: 280,000 OVER tokens.
• BTC Pool: 120,000 OVER tokens.

Rewards are calculated based on hourly snapshots of staked tokens, with daily and hourly limits ensuring a fair distribution:

• Daily Limit: 93,333 OVER for USDT, 40,000 OVER for BTC.
• Hourly Limit per User: 38.89 OVER for USDT, 16.67 OVER for BTC.

Participants can withdraw their staked tokens at any time, but their rewards depend on the amount staked and the duration of staking.

How to Participate in OVER Launchpool

Step-by-Step Guide

1. Account and KYC: Log in to your BingX account and complete advanced KYC verification. Note that users in restricted regions cannot participate.
2. Staking: Stake your USDT or BTC between August 31, 2024, and September 3, 2024, to join the Launchpool. The more you stake, the higher your potential rewards, but hourly reward caps ensure fairness across participants.
3. Reward Issuance: Rewards are issued hourly based on your staked amount. For example, if you stake at 10:00, your rewards will be issued at 11:00 based on three hourly snapshots of your staked tokens.

What is OverProtocol

OverProtocol aims to democratize blockchain technology by reducing technical barriers and enabling personal computers to act as nodes and validators. Partnering with Jambo, supported by investors like Coinbase and Paradigm, OverProtocol offers the OverWallet, which is pre-installed on Jambo phones, reaching millions of users.

Tackling Blockchain’s Major Challenges

Addressing Centralization and Complexity

OverProtocol tackles three major challenges in blockchain:

1. Reducing Resource Demands: By lowering the technical requirements for running nodes, OverProtocol allows more users to participate without the need for high-end hardware.
2. Increasing Participation: OverProtocol’s consensus mechanism encourages broader participation by reducing centralization and promoting fairness.
3. Simplifying Network Use: The protocol eliminates the complexity of traditional blockchain participation, making it accessible even for those with minimal technical skills.

OverProtocol introduces a multi-layer data hierarchy, including the Over Layer for essential data, the Nether Layer for supplementary data, and the External Layer for data beyond the blockchain. This approach reduces the data burden on participants and enhances the overall efficiency and accessibility of the network.

Join the Launchpool Now

To join the BingX Launchpool and earn free OVER tokens, participants should log in, complete the necessary KYC, and stake USDT or BTC during the specified period.

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This is a unique opportunity to engage with a groundbreaking blockchain project and earn tokens with minimal effort. Don’t miss out!