The world of blockchain gaming and digital collectibles continues to evolve, and one project making waves is Element Black (ELT). As part of the OKX Jumpstart initiative, ELT offers users a unique opportunity to participate in a token sale that supports a next-generation Social-Fi NFT gaming ecosystem. This guide walks you through everything you need to know about the ELT token sale, including eligibility, pledging mechanics, allocation rules, and the vision behind the project.
What Is the ELT Token Sale on OKX Jumpstart?
OKX Jumpstart is a launchpad platform that enables users to participate in early-stage token sales backed by strong projects and community support. The ELT (Element Black) token sale allows qualified users to pledge OKB in exchange for ELT tokens at a fixed price of $0.007 per ELT.
👉 Discover how early token access can shape your crypto portfolio
The sale took place on April 20, 2022, from 2:00 AM to 10:00 AM UTC, with a total session supply of 40,000,000 ELT tokens available for allocation. Participation was based on user activity and OKB holdings, ensuring fair access for committed community members.
Key Participation Requirements
To take part in the ELT token sale, users had to meet specific eligibility criteria:
- KYC Level 2 verification completed
- Residency in a supported jurisdiction (excludes users from China, U.S., Canada [Ontario, Quebec], Iran, North Korea, and others)
- Minimum $5,000 trading volume on OKX within 30 days prior to the sale
These conditions ensured compliance with global regulations while promoting active engagement within the OKX ecosystem.
How the Pledging Mechanism Works
Pledge Window & Token Pricing
The pledging window was open for eight hours. During this time, participants could commit their OKB tokens toward acquiring ELT. The exchange ratio between OKB and ELT was determined by the OKB market price at 4:00 PM UTC on April 20, 2022, ensuring transparency and real-time valuation alignment.
Allotment Coefficient Based on OKB Holdings
A key factor in determining how many ELT tokens a user could receive was their allotment coefficient, which depended on their OKB holdings over three consecutive days (April 17–19, 2022).
Snapshots of users' OKB balances were taken randomly across three account types:
- Funding Account
- Trade Account
- Finance Account
Two metrics were evaluated:
- Minimum daily OKB balance during the 3-day period
- Average daily OKB balance
The higher of the two corresponding coefficients was applied to each user.
Allotment Coefficient Tiers
| OKB Holding Range | Min Holding Coefficient | Avg Holding Coefficient |
|---|---|---|
| [0, 10) | 1 | 1 |
| [10, 50) | 8 | 4 |
| [50, 100) | 16 | 8 |
| [100, 500) | 20 | 10 |
| [500, 1,000) | 30 | 15 |
| [1,000, 2,000) | 36 | 18 |
| [2,000, ∞) | 40 | 20 |
For example:
A user holding 50 OKB, 2,000 OKB, and 3,950 OKB over three days has:
- Minimum holding: 50 OKB → coefficient = 16
- Average holding: (50 + 2,000 + 3,950)/3 = 2,000 OKB → coefficient = 20
- The higher value (20) becomes their final allotment coefficient.
This system rewards both consistent holding and high balances.
Step-by-Step Participation Guide
Step 1: Maximize Your Allotment Potential
To increase your chances of receiving more ELT tokens:
- Hold more OKB across your accounts
- Maintain consistent balances over the snapshot period
- Monitor your allotment coefficient via the OKX Jumpstart page
👉 Learn how holding platform tokens can unlock exclusive opportunities
Step 2: Participate in the Token Sale
During the pledging window:
- Only OKB is accepted as payment
- Enter your desired pledge amount (within individual limits)
- Minimum pledge: 1 ELT
- Maximum pledge: 260,000 ELT per user
Your final allocation depends on your coefficient and total demand.
Step 3: Receive Your Tokens
After the sale ends:
- ELT tokens are credited to your Funding Account
- Pledged OKB is deducted
- Unused pledged amounts are released back to your account
Allocation Example: Real-World Scenarios
Let’s consider four hypothetical users — A, B, C, and D — with varying OKB holdings:
| Metric | User A | User B | User C | User D |
|---|---|---|---|---|
| Minimum 3-Day Holding | 50 | 5 | 500 | 100 |
| Average 3-Day Holding | 2,000 | 5 | 500 | 1,000 |
| Final Allotment Coefficient | 20 | 1 | 30 | 20 |
Assuming a total session supply of 2,000 ELT tokens and respective pledges of:
- A: 500
- B: 50
- C: 1,000
- D: 1,000
The actual distribution would be calculated proportionally based on coefficients and demand. Higher coefficients significantly improve allocation odds in oversubscribed events.
About Element Black (ELT)
Element Black is not just another NFT game — it's building a Social-Fi NFT ecosystem where creation meets reward. With a focus on Create-to-Earn (C2E) mechanics, ELT empowers users to design, trade, and socialize around digital assets in the metaverse.
Project Overview
- Token Name: Element Black (ELT)
- Ticker: ELT
- Total Supply: 4 billion ELT
- Blockchain Protocol: ERC-20
- Launch Date: April 12, 2022
Strategic Partnerships
ELT has secured high-profile collaborations with:
- Music icons Akon and DJ Snake
- Acclaimed filmmaker James Gunn (Guardians of the Galaxy, Suicide Squad)
- Industry leader Sid Ganis, former President of the Academy of Motion Picture Arts and Sciences
These partnerships bridge Web2 celebrities with Web3 experiences, bringing mainstream attention to NFT-based social gaming.
Vision: The Future of Digital Engagement
Element Black aims to become the leading PUGC (Professional User-Generated Content) NFT distribution platform, connecting global influencers with fans through immersive digital experiences. By merging entertainment, fashion brands, and decentralized technology, ELT fosters a vibrant community where creativity is rewarded.
Frequently Asked Questions (FAQ)
Q: Can I use any cryptocurrency to participate?
A: No. Only OKB is accepted for pledging during the OKX Jumpstart event.
Q: When will I receive my ELT tokens?
A: Tokens are automatically credited to your Funding Account shortly after the sale concludes.
Q: Why didn’t I get the full amount I pledged?
A: Allocations depend on demand and your allotment coefficient. If demand exceeds supply, partial allocations occur.
Q: Are there any fees for participating?
A: There are no additional fees beyond the pledged OKB amount.
Q: Can I sell my ELT tokens immediately after receipt?
A: Yes, once credited, ELT tokens can be traded or transferred per platform rules.
Q: How do I check my allotment coefficient?
A: Visit the OKX Jumpstart page before or during the sale to view your snapshot data and coefficient.
👉 See how new blockchain projects are redefining digital ownership
Final Notes and Risk Considerations
While opportunities like the ELT token sale offer exciting entry points into emerging ecosystems, they come with inherent risks. Digital asset investments are volatile and may result in capital loss. Always conduct thorough research and consider your risk tolerance before participating.
OKX reserves the right to disqualify users engaging in fraudulent behavior or violating platform policies. Eligibility is subject to change based on regulatory requirements.
Core Keywords:
ELT token sale, OKX Jumpstart, Element Black, NFT gaming, Social-Fi crypto, Create-to-Earn ecosystem, ERC-20 token, OKB staking benefits