Meson Network: Staking BTC and ETH to Win MSN Tokens on OKEx Jumpstart!

Bittime -Crypto users in Indonesia now have the opportunity to earn MSN tokens, the native token of Meson Network, through a staking event organized by OKEx Jumpstart. Meson Network itself is a Decentralized Physical Infrastructure Network (DePIN) which is trying to build an efficient bandwidth marketplace.

This staking event will start taking place on April 26, 2024, at 06:00 AM UTC (or WIB +7) and will feature MSN tokens from Meson Network. OKEx users can participate in this event by staking BTC (Bitcoin) or ETH (Ether) tokens to get MSN tokens as rewards.

MSN Token Staking and Distribution Mechanism

This Jumpstart Mining event offers a total of 800,000 MSN tokens, which will be divided equally into two staking pools – 400,000 MSN in the BTC pool and 400,000 MSN in the ETH pool.

Participants can stake up to a maximum of 0.3 BTC or 3.5 ETH per person, with no minimum stake required. The mining period will last for two days, ending on April 28, 2024 at 06:00 AM UTC.

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Requirements and Calculation of Staking Rewards

To be able to participate, users are required to complete the identity verification process on OKEx. It should be noted that users from Mainland China, Hong Kong, and South Korea are not permitted to join this staking program.

The amount of staking reward will be calculated in real-time based on the proportion of tokens staked by users compared to the total tokens staked in the pool. OKEx explains this calculation through the following formula:

“If a user has staked 0.1 BTC, the total amount of BTC staked at that time is 1,000 BTC, and the number of tokens released per minute is 10,000, then the user's per minute reward will be calculated as follows: User's per minute reward = (0.1 / 1,000) * 10,000 = 1 (token).”

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Users can stake and unstake their BTC or ETH at any time during the mining period. If users do not unstake before the end of the event, staked tokens will be automatically returned to their funding account within 2 hours after the event ends. The opening date for trading MSN tokens obtained from mining will be announced later.

Also read: Franklin Templeton's BENJI Token: Everything You Need to Know!

Meson Network: DePIN Supported by the Community

Meson Network, the project behind the MSN token, aims to revolutionize Web3 by building an efficient bandwidth marketplace via blockchain protocols. The MSN token has four main functions in the Meson ecosystem:

1. Empowering users to access bandwidth and big data services
2. Provide rewards to miners who contribute server resources to the network
3. Increases mining efficiency when staking by miners
4. Facilitate governance processes, such as voting and decision making

With a total supply of 100,000,000 tokens, Meson Network seeks to replace the traditional labor-based sales model in the bandwidth market, offering a more efficient and decentralized alternative.

The project envisions building an ecosystem for users to exchange unused bandwidth resources with Meson, thereby creating value and providing flexibility and scalability in bandwidth access for more people. The Meson Network currently has more than [a number of] Network Edge locations serving a network capacity of more than 10TBps with an average latency of 90ms.

How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.