OKEx has rolled out an enhanced version of its "Happy Friday" rewards program alongside two additional user retention initiatives following the platform's 41-day withdrawal freeze. This strategic move aims to thank loyal users while attracting new participants through substantial financial incentives.
Program Overview
The upgraded Happy Friday now allocates 20% of weekly contract trading fees as user rewards—a significant expansion from its previous model that only shared spot trading fees. Industry experts estimate OKEx's contract revenue exceeds spot trading income by 10x, making this potentially the most generous user reward program in crypto exchange history.
5 Critical Features Explained
1. Inclusive Participation Criteria
👉 Who qualifies for Happy Friday rewards?
- Asset Requirement: Minimum 100 USDT average daily balance
- Alternative Option: 100 USDT average daily trading volume
- Verification: KYC Level 2 completion
This low barrier allows even novice traders to participate. The dual qualification options (assets or trading volume) ensure broad accessibility.
2. Unprecedented Reward Pool
- Estimated Weekly Distribution: ~$2.8M (based on $402B weekly contract volume)
- First Payout Special: Cumulative 7-week reward totaling ~$20-30M
- Projected Per User Reward: Minimum $100 with 200,000 participants
The reward calculation uses contract fees from both perpetual and futures trades, with payouts in BTC.
3. Dual Reward Calculation Method
| Reward Component | Formula | Cap |
|---|---|---|
| Asset-Based | (10% pool) × (User assets / Total assets) | 10,000 USDT |
| Trading-Based | (10% pool) × (User volume / Total volume) | 30,000 USDT |
OKB holders receive 2x asset valuation, meaning 5000 OKB counts as 10,000 USDT in calculations.
4. Eligible Asset List
The platform recognizes 20 major cryptocurrencies including:
- Established: BTC, ETH
- Emerging: DOT, LINK
- List subject to quarterly updates
5. Additional OKB Benefits
- Immediate Advantage: Double weight in reward calculations
- Future Potential: Upcoming quarterly buyback and burn
- Market Effect: Expected increased OKB demand from reward seekers
FAQ Section
Q: How often are rewards distributed?
A: Every Friday, with the first distribution covering 7 accumulated weeks.
Q: Can I qualify with just trading activity?
A: Yes, meeting either the asset (100 USDT) OR trading volume (100 USDT) requirement suffices.
Q: Why is OKB given special treatment?
A: The 2x valuation incentivizes OKB adoption while supporting its market value—a win-win for users and exchange.
👉 How to maximize your Happy Friday rewards
Strategic Implications
This program demonstrates OKEx's commitment to user retention through:
- Financial Compensation: Substantial monetary rewards for affected users
- Behavioral Incentives: Encourages continued platform engagement
- OKB Ecosystem Growth: Strengthens utility token adoption
As the crypto community evaluates exchanges' crisis responses, OKEx's structured recovery plan sets a noteworthy precedent for balancing user compensation with sustainable business practices.