OKX, a leading cryptocurrency exchange, has announced its support for the Pepper (PEPPER) airdrop program targeted at Chiliz (CHZ) holders. This initiative is available only in specific jurisdictions, and participation is subject to regional regulations and platform policies.
It is important to note that the distribution of airdropped tokens, including PEPPER, is not guaranteed across all regions. Users are advised to confirm their eligibility based on their location and account status.
Detailed Airdrop Rules
The PEPPER airdrop on OKX is structured around four specific snapshot times. These are critical deadlines that determine user eligibility.
Snapshot Schedule
- First Snapshot: October 10, 2024, at 12:00 AM UTC
- Second Snapshot: October 17, 2024, at 12:00 AM UTC
- Third Snapshot: October 24, 2024, at 12:00 AM UTC
- Fourth Snapshot: October 31, 2024, at 12:00 AM UTC
Eligibility Criteria
To qualify for the airdrop, users must meet the following conditions for each snapshot:
- Hold a minimum balance of 100 CHZ in their OKX trading, funding, or Earn account.
- Ensure the CHZ tokens are successfully deposited and not in transit or pending withdrawal at the exact snapshot time.
- Each account type (trading, funding, Earn) is evaluated separately for the minimum balance requirement.
The airdrop ratio is set at 150,000 PEPPER for every 1 CHZ held in eligible accounts at the time of each snapshot.
Important Considerations for Loans
Users with outstanding CHZ loans must exercise caution. Any negative equity in a trading account’s multi-currency margin mode will be settled using the airdropped PEPPER tokens. To avoid this, it is highly recommended to repay all CHZ loans before each snapshot period.
Token Deposit and Withdrawal Schedule
OKX will implement temporary network suspensions to ensure accurate snapshot calculations.
- ERC-20 Network: Deposits and withdrawals for CHZ on the ERC20 network will be suspended 24 hours before each snapshot time. Services will resume shortly after the snapshot is completed.
- Chiliz Chain: All deposit and withdrawal services on the Chiliz Chain will remain operational without any interruptions throughout the airdrop period.
This measure helps maintain the integrity of the snapshot process by preventing last-minute transactional discrepancies.
PEPPER Distribution Timeline
The distribution of PEPPER tokens to eligible OKX users will commence only after the exchange has received all four airdrop allocations from the token issuer. OKX will issue a formal announcement once the distribution process is complete. Users should monitor official OKX channels for updates.
There is no guaranteed timeline for the completion of the airdrop, and OKX disclaims any liability if the airdrop does not occur as planned.
Trading Availability for PEPPER
As of the announcement date, OKX does not support spot trading for the PEPPER token. Should the exchange decide to list PEPPER for trading in the future, a separate official announcement will be made. Users can stay informed about new listings and trading pairs by checking official updates.
For a comprehensive guide on how to participate in similar airdrop events and manage your digital assets, explore more strategies here.
Frequently Asked Questions
How do I know if I am eligible for the PEPPER airdrop?
Eligibility is determined by your jurisdiction and your CHZ balance across OKX trading, funding, or Earn accounts at the four specified snapshot times. You must hold at least 100 CHZ in an account at the time of a snapshot to be eligible for that round.
What happens if my CHZ is stuck in a transaction during the snapshot?
Only CHZ that have been successfully deposited and are not in a state of withdrawal or pending transfer will be counted. It is crucial to complete all deposits well before the 24-hour pre-snapshot suspension period on the ERC20 network begins.
Can I receive the airdrop if I hold CHZ on the Chiliz Chain?
Yes, holdings on the Chiliz Chain are eligible. Importantly, deposits and withdrawals on the Chiliz Chain will not be suspended, unlike on the ERC20 network.
Will OKX support trading for PEPPER immediately after the airdrop?
No, the announcement clearly states that spot trading for PEPPER is not currently supported. Any future support for trading will be communicated through a separate official announcement.
How are loans handled for this airdrop?
If you have an outstanding CHZ loan or negative equity in a margin account at the snapshot time, the equivalent value in airdropped PEPPER tokens will be used to settle that debt. To keep your full allocation, repay any loans beforehand.
When will I receive my PEPPER tokens?
Distribution will occur after OKX has received all four airdrop batches from the project issuer. An announcement will be made once the distribution to users is complete. There is no specific date provided, so patience is required.