On November 26, OKEx officially reopened withdrawals, ending a 41-day suspension. To express gratitude to its loyal users and compensate those affected during this period, the platform launched three major feedback initiatives. Among them, the newly upgraded "Happy Friday" promotion stands out by distributing 20% of weekly contract trading fees as rewards.
Given OKEx's strong presence in the crypto derivatives market, this initiative is expected to offer substantial weekly dividends. Let's break down the five essential aspects of this updated program.
What Is the Happy Friday Promotion?
Happy Friday is a long-running user reward program by OKEx. In its latest version, the platform allocates 20% of its contract trading fees to distribute among eligible users every Friday. This initiative aims to thank the community for their patience and trust during the recent suspension period.
The program is structured to include both asset holdings and trading volume, ensuring a wide range of users can benefit.
User Eligibility: Designed for Everyone
According to the official announcement, users are eligible if they meet the following criteria:
- Average daily assets ≥ 100 USDT, or
- Average daily trading volume ≥ 100 USDT, and
- KYC Level ≥ 2.
The asset requirement is minimal and accessible even to beginners. Trading volume is an alternative—not an additional—criterion. KYC Level 2 is standard for most trading activities on the platform.
This inclusive approach ensures broad participation, allowing both new and experienced users to share the rewards.
Reward Pool: Significantly Larger Than Before
The previous Happy Friday program was based solely on spot trading fees. This time, OKEx is using 20% of contract trading fees to fund the rewards.
Since contract trading generates significantly higher revenue than spot trading on OKEx, the reward pool is now substantially larger. Conservative industry estimates suggest contract trading fees are at least 10 times those of spot trading.
For example, during a relatively slow week (November 2–8), OKEx’s contract trading volume was $40.26 billion. Assuming an average fee rate of 0.035%, the weekly reward pool would be approximately $2.818 million.
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First Distribution: Covering 7 Weeks at Once
The first Happy Friday distribution, scheduled for December 4, will include rewards accumulated over seven weeks.
Based on the estimated weekly reward pool of ~$2.82 million, the total distribution could reach ~$19.73 million. With recent increases in trading activity following the resumption of withdrawals, the actual amount may even reach $20–30 million.
Even with 200,000 participants, the average reward per user could exceed $100.
Reward Mechanism: Benefitting Holders of Major Cryptos
The reward consists of two equal parts:
- Asset-based reward (10% of total fee pool):
Distributed based on the ratio of a user’s average daily asset value to the total across all users. - Trading-based reward (10% of total fee pool):
Allocated according to the ratio of a user’s average daily trading volume to the total.
To ensure fairness, OKEx caps the asset value at 10,000 USDT and trading volume at 30,000 USDT per user in calculations.
Only 20 major cryptocurrencies are considered "valid assets," including BTC, ETH, LINK, and DOT. The list may be updated periodically.
Bonus for OKB Holders: Double Asset Value
OKB holders receive special treatment: their OKB holdings are calculated at twice the USDT value when determining asset-based rewards.
For example:
- User A holds $5,000 in BTC → counted as $5,000.
- User B holds $5,000 in OKB → counted as $10,000.
This effectively doubles the reward for OKB holders and may encourage increased demand for OKB in the secondary market.
Additionally, OKEx is scheduled to complete its quarterly OKB buyback and burn by the end of the month, potentially positively impacting OKB’s market value.
Frequently Asked Questions
Who is eligible for the Happy Friday rewards?
Any user with an average daily asset value ≥ 100 USDT or average daily trading volume ≥ 100 USDT, and KYC Level ≥ 2, is eligible.
How is the reward amount calculated?
It is based on two equal parts: your share of total assets and your share of total trading volume among all users. OKB holdings are counted at twice their value.
Which cryptocurrencies are considered valid assets?
OKEx has selected 20 major cryptocurrencies, including BTC, ETH, DOT, and LINK. The list may be updated in the future.
When will the rewards be distributed?
Distributions occur every Friday. The first one, covering seven weeks, is scheduled for December 4.
Is there a cap on how much reward one user can get?
Yes, the maximum asset value considered per user is 10,000 USDT, and the maximum trading volume is 30,000 USDT.
Can international users participate?
Yes, the program is available to all OKEx users worldwide who meet the eligibility criteria.
Conclusion
OKEx's enhanced Happy Friday program demonstrates a strong commitment to user compensation and retention. By allocating a significant portion of contract fees and designing an inclusive reward structure, the platform offers both small and large investors a tangible benefit.
With the first distribution covering multiple weeks and offering special incentives for OKB holders, the initiative is likely to strengthen community trust and engagement.
For those looking to make the most of this opportunity, evaluating your current holdings and trading activity on OKEx is a good starting point.