❓FAQs

General Questions

What is Get Goated Season 2?

Get Goated Season 2 is an initiative by IoTeX, OKX, Gate, and leading DePIN projects, launching the "Make More Movement" with a 100 million $IOTX incentive pool. This campaign aims to provide participants with substantial rewards through various on-chain activities.

What are BinoBits?

BinoBits are reward points earned by participating in specific on-chain activities within the Get Goated Season 2 campaign. They can be accumulated through tasks such as trading, staking, and interacting with supported protocols.

How can I earn BinoBits?

  • Trading: Conducting swaps on supported decentralized exchanges (DEXs) like OKX Dex, Mimo, and iZUMi.

  • Liquidity Provision (LP): Providing liquidity to specific trading pairs on supported platforms.

  • Staking: Staking assets on platforms such as Bedrock and Loxodrome.

  • Bridging Assets: Bridging assets to the IoTeX network, with the first 10 bridges per day receiving additional BinoBits.

  • Referral Program: Inviting others to join the campaign through your referral lin

What are the benefits of earning BinoBits?

Accumulating BinoBits allows you to participate in the campaign's reward system, potentially earning $IOTX and other incentives. The more BinoBits you collect, the higher your chances of receiving substantial rewards.

How do I get started with Get Goated Season 2?

  • Join the Community: Engage with the IoTeX community on platforms like Discord and Telegram.

  • Buy $IOTX: Purchase $IOTX to pay for gas fees and for staking purposes.

  • Bridge Assets: Transfer your assets to the IoTeX network.

  • Stake $IOTX: Stake your $IOTX to earn rewards, BinoBits, and participate in IoTeX governance.

Are there any daily limits or bonuses for earning BinoBits?

Yes, certain activities have daily limits or bonuses:

  • Interaction Rewards: The first 10 trades or stakes of the day on specific platforms will receive additional BinoBits.

  • Bridging Assets: The first 10 bridges per day will receive 5 BinoBits.

Where can I track my BinoBits and rewards?

You can monitor your BinoBits and earning history by connecting your wallet on the Get Goated Season 2 - BinoBits page. This will display your accumulated BinoBits and the tasks you've completed.

What protocols and tasks are supported in this campaign?

The campaign supports various DeFi protocols and tasks, including:

  • OKX Dex: Swapping and providing liquidity.

  • Mimo: Swapping and providing liquidity.

  • iZUMi: Swapping and providing liquidity.

  • Bedrock: Staking.

  • Loxodrome: Swapping and staking.

  • Quenta: Trading derivatives and staking.

  • PinSwap: Swapping and staking.

  • ioPay: Completing tasks using the ioPay wallet.

How can I participate in the referral program?

You can participate in the referral program by sharing your unique referral link with others. When someone joins the campaign through your link and completes tasks, both you and the referred user can earn additional BinoBits.

Where can I find more information or assistance?

For more details or support, you can:

Everything on BinoBits

How much is a BinoBit worth?

The exact value of a BinoBit fluctuates. The total reward pool for the campaign of 100 million $IOTX and the other participating DeFi and DePIN protocols will be distributed among participants based on the number of BinoBits they accumulate. This means the value of each BinoBit will depend on the total number of BinoBits earned by all participants and your share relative to others.

When and how can I redeem my BinoBits?

BinoBits are accumulated throughout the campaign and will be converted into $IOTX rewards at the end of the event. The distribution will be as follows:

  • The top 40% of users by BinoBits will share half of the total $IOTX prize pool, allocated proportionally to their BinoBits share within the top 40%.

  • The remaining 60% will share the other half, distributed proportionally to their BinoBits share within the remaining 60%. Specific details on the redemption process will likely be provided as the campaign concludes.

Is there a cap on how many BinoBits I can earn?

While there isn't a specified overall cap on the total number of BinoBits you can earn, certain tasks have daily limits. For example, interaction rewards often have a daily cap, such as the first 10 trades of the day receiving additional BinoBits. These limits reset daily, allowing you to earn more BinoBits by participating regularly.

How can I maximize BinoBits as a beginner?

Engaging in DEX trades with minimal amounts (e.g., $1) yields 50 BB points for the first 10 interactions each day, across seven DeFi protocols for a total of 350 BB points daily. Over a month, you could earn 10,500 BB points, worth approximately 630 IOTX (~$30).Social Tasks: Complete social tasks from the 20 DePIN projects, which collectively offer $2 million in rewards. About 30% of this pool is allocated for social tasks, providing a simple way to accumulate project tokens.

How can I maximize BinoBits as a degen?

For those with 100,000 IOTX:

  • Volume Trading on Mimo or Izumi: These DEXs offer deep liquidity, ideal for volume-based BB point accumulation. Alternatively, use Quenta for leveraged contracts to accumulate points quickly.

  • BB Points Holding Bonus: For every $1 held in specific trading pairs, earn 1 BB point daily. Holding 100,000 IOTX (valued at $0.045) in these pairs earns 4,500 BB points/day, totaling 135,000 BB points/month—a yield of 7,800 IOTX (~7.8% APY, over 90% annually).

Additionally, LP staking on DEX farms can yield over 100% APY, bringing total potential annualized yield up to around 200%.

What is the single best activity to maximize BinoBits?

Staking is the highest-yield BB points strategy:

  • Earn 0.05 BB points per 1 IOTX staked daily. For example, staking 100,000 IOTX for 100 days earns 500,000 BB points, equivalent to 30,000 IOTX (~100% APY). Combined with the base 6-8% APY, the annualized yield can exceed 105%.

  • OKX Users get a 20% BB points boost

How can I learn more about maximizing my earning strategy?

We have a whole section dedicated to maximizing your earning throughout the campaign. Please visit the Maximize Your Earnings section.

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