Learn how to mine Otara tokens with Imota Wallet. Discover Otara’s use cases, tokenomics, and key features, and start earning rewards today.
What is Otara Token?
Otara Token is the native cryptocurrency of the Imota wallet, developed by Creative Passion PTE LTD. It is a digital asset designed to facilitate transactions within the Imota ecosystem, similar to other well-known cryptocurrencies like Bitcoin and Ethereum.
Purpose of Otara Token
The primary purpose of Otara Token is to enable users to pay for goods and services within the Imota ecosystem. This includes transactions related to multi-chain tokens and NFTs, which can be securely stored, sent, received, and swapped within the Imota wallet.
Imota Wallet and Otara Token
The Imota wallet is a non-custodial, multi-chain wallet that empowers users to harness the potential of blockchain technology. With its cutting-edge features, Imota aims to drive widespread adoption of blockchain by providing seamless and secure transactions. Otara Token is an integral part of this ecosystem, enabling users to engage in transactions with ease and convenience.
In summary, Otara Token is a digital asset that powers the Imota ecosystem, enabling users to transact securely and efficiently within the platform.
Token Overview
This section provides a concise summary of Otara Token, including key attributes to help you understand its role and value within the Imota ecosystem.
Token Name and Symbol
- Name: Otara Token
- Symbol: OTARA
Total Supply
- Total Supply: 300 million OTARA
Token Type
- Type: Utility
Contract Address
- Contract Address: TBA
Blockchain
- Blockchain: TBA
Website and Social Media
Token Use Cases
1. Revenue Sharing
2. Staking and Earning
3. Discounts and Privileges
4. Access to Services
5. Transaction Fees
6. Liquidity
7. Governance Participation
Token Whitepaper
Team and Partners
Team
- Creative Passion PTE LTD: The team behind Imota Wallet and Otara token. With a focus on innovation and security, they aim to drive the widespread adoption of blockchain technology.
Partners
Official Partners:
- Remitano
- CoinSavi
Tokenomics
This section delves into the economic model of the Otara token, including its distribution, allocation, and mechanisms that support its value and utility.
Token Distribution Plan
The Otara Token distribution is meticulously designed to support the project’s growth and ecosystem. Below is a detailed breakdown of the total supply of 300 million OTARA tokens:
- Community (70% of Total Supply – 210,000,000 OTARA)
- Mining Allocation: 150,000,000 OTARA
- Incentive Tokens: 30,000,000 OTARA
- Treasury Reserve: 30,000,000 OTARA
- Team & Advisors (20% of Total Supply – 60,000,000 OTARA)
- Strategic Partners (10% of Total Supply – 30,000,000 OTARA)
This allocation ensures a balanced approach to community engagement, project development, and strategic growth, fostering a robust ecosystem for all stakeholders.
Mining Rewards
- Mining Rewards: Earn up to 1.0 OTARA per hour.
How to Mine Otara Token – Step-by-Step Guide
Follow these simple steps to start mining Otara tokens:
Step 1: Download and log in to the Imota Wallet App
Begin by downloading the Imota Wallet app from the Google Play Store or the App Store, depending on your device. Once installed, open the app and log in using your valid Google account. If you don’t have an account, you can easily create one within the app.
Click here to download the app
Step 2: Complete KYC Level 2 Verification
To ensure platform safety and security, Imota requires users to complete KYC Level 2 verification. This process helps prevent exploitation by hackers and cheaters. Follow the instructions provided in the app to complete the verification process. Once verified, you’re ready to start mining Otara tokens.
Click here for a guide to completing KYC verification
Step 3: Activate Your Account and Start Mining
Activate your account by inputting a referral code, which you can obtain from a friend who is already mining Otara tokens or from Imota’s official social media channels. Using a referral code may provide additional benefits, such as bonus tokens or increased mining speed.
Steps to Apply Referral Code to Activate Account:
- Open the Imota app.
- Click on the menu on your homepage.
- Navigate to the Referral Program and click “Apply now”.
- Input referral code: VGuX5Fnv
- Click “Submit”.
- Once the referral code is applied, navigate to the “OTARA” category in the Imota app.
- Click on the Gemstone Icon to collect your first batch of Otara tokens.
Congratulations! You have officially started mining Otara tokens.
Mining Details
Schedule
- Start Date: Q1 2023
- End Date: Q1 2025
Max Participants
- Maximum: Unlimited
Mining Rate
- Base Rate: 0.10 OTA per session
Mining Sessions
Users are granted three mining sessions per day, with each session lasting 8 hours. These sessions are scheduled as follows:
- Session 1: 12:00 AM – 7:59 AM
- Session 2: 8:00 AM – 3:59 PM
- Session 3: 4:00 PM – 11:59 PM
Token Distribution Plan
- Plan Details: to be distributed before the listing date
Boosters
- Referring friends to the Imota app is a great way to boost your mining speed and earn additional rewards. By sharing your referral code with friends, you can both receive benefits. When your friend signs up using your referral code, they will receive 5 BUSD, and you will receive 3 BUSD. Additionally, the number of referred friends can contribute to leveling up your mining speed, as mentioned earlier.
- Increase mining speed to 1.00 Otara per session by maintaining a daily streak for 30 days within 30 days.
Conclusion
Mining Otara tokens using the Imota wallet app is an exciting opportunity to earn rewards for free. By following the steps outlined in this guide, you can create an account, complete KYC Level 2 verification, and start mining Otara tokens. Remember to maintain a consistent mining schedule, level up your mining speed by referring friends, and stay informed about promotions and updates through Imota’s social media channels. Happy mining!
FAQ
Who are the founders of Imota Wallet?
Imota Wallet is developed by Creative Passion, a Singapore-based company.
What is the total supply of Otara tokens?
The total supply of Otara tokens is 300 million, as announced by the core team.
When is the Otara token mainnet launch?
The Otara token mainnet launch is scheduled for Q4 2024.
When will the Otara token be listed?
The Otara token listing date is planned for Q1 2025.
How can I unlock the locked BUSD that appears on the Imota app?
To unlock the locked BUSD obtained from referrals, you need to reach KYC Level 2 verification and complete 50 transactions (swap, send, trade with the browser, or wallet connect).
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