How do I access my rewards on Pay?
Pay Rewards is a loyalty program that allows eligible users to earn rewards on USDG on X Layer in Pay. The program is funded by us and is designed to incentivize holding stablecoins in Pay. Your funds remain in your Pay balance. Note that rewards may be changed or discontinued at any time.
How can I access the Rewards section?
Toggle your mode to Pay
Enter the Rewards page through the Rewards option in the navigation menu
If you don't have any Pay balance, select Add funds to add crypto from your Exchange account or through on-chain receive.
FAQ
1. Who’s eligible for Pay rewards?
To qualify, you must:
Be a verified user with an active OKX account.
Hold 1 USDG on X Layer in Pay.
We reserve the right to modify or discontinue the rewards program at any time. Refer to the Smart Account Terms for details.
2. How do I earn rewards on Pay?
Earning rewards is easy:
Activate Pay and complete identity verification
Add at least 1 USDG on X Layer to your Pay balance.
Hold your stablecoins and earn rewards automatically.
Rewards accrue daily and are distributed to your Pay balance after 10:00 AM UTC on every Monday. Any pending rewards will show the day after accrual at 4:00 AM UTC. Once distributed, rewards are credited directly to your USDG balance.
3. How are Pay rewards calculated?
Rewards are calculated daily based on your minimum eligible balance during the previous day (ends at 11:59 PM UTC), using the following formula:
Daily reward = Minimum eligible balance × (APR / 365)
The minimum eligible balance refers to the lowest balance recorded in the previous 24 hours.
Example 1: New deposit
Assume the rewards rate is 5% APR.
If you deposit 2,400 USDG at 10:00 on Day 1:
Day 2 reward: 0 (the minimum balance on Day 1 was 0)
Day 3 reward: 2,400 × (0.05 / 365)
Example 2: Adding to an existing balance
If you already have 1,000 USDG and add 2,400 USDG on Day 1:
Day 2 reward: 1,000 × (0.05 / 365)
Day 3 reward: 3,400 × (0.05 / 365)
4. How can I pause/opt out?
You can pause your rewards at any time, and they’ll stop accruing right away.
To opt out:
Go to Rewards in Pay
Select the settings icon in the top right corner
Switch off the reward you wish to pause
The rewards that have previously accrued or have been distributed to your account don’t expire.
5. Can I choose crypto for my payout?
No, all rewards are paid out in USDG on X Layer.
6. Why am I no longer eligible for Pay rewards?
Your account may be frozen if we detect any reward abuse or exploitation.
7. Why don't my pending Pay rewards add up?
The cash value of pending rewards is an approximation. The lifetime payout and activity records show the exact token and cash amounts.Rounding adjustments in the app may cause slight discrepancies in cash values.
8. When will the Pay rewards program end?
This is a limited-time campaign. We'll notify users in advance before ending the rewards program.
Learn more about other parts of Pay here.