The Validators

Starting from 8th November 2022, a max. amount of 100.000 OFE / wallet / user can be deposited into the Ofero Network’s Smart Contract. The SC will initiate the migration process. Investors will be able to migrate 20% out of the 100k OFE coins on the BNB Smart Chain (Binance Blockchain), the rest of 80% will be locked for 6 months on the Elrond Blockchain and will be released in steps (5% out of 100% at each 5 days).

The launch price on the BNB Smart Chain (Binance Blockchain) will be 1 BNB / 1600 OFE.

In order to migrate your Elrond Tokens to the BNB Smart Chain your account shall become Validated by a Validator. 

How to become a Validator?

In order to become a Validator and to be eligible to Validate other accounts there is a requirement to own 50k OFE tokens. Afterwards, contact with a Team Member on our Telegram channel (https://t.me/oferonetwork). 

Only known users will be validated by validators, and they will be needed to make a video call or take a photo with the validated person in order to provide a proof to the Ofero Network team in case further verification is necessary.

Validator Benefits

Each validator will receive a reward equal to 0.1% of the total amount that will be transferred to the BNB Smart Chain through the migration process. The reward will be awarded after the migration program completes.

Starting from the 1st of December only the validated wallets will be eligible to the 8.4% APR sight-staking (OFE staking without bonding) reward.


THE MOST IMPORTANT RULE OF THIS PROCESS

A SINGLE PERSON CANNOT HAVE MORE THEN ONE OFERO NETWORK VALIDATED ACCOUNT!
A 20% PENALTY (THE MIGRATED TOKENS) WILL BE RETAINED IF THE REGULATION IS VIOLATED.

BEING A VALIDATOR IS A PRIVILEGE NOT A RIGHT !