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OKX Proposes Industry-First BRC-30 Token Usual to Enable Bitcoin and BRC-20 Token Staking

OKX Proposes Industry-First BRC-30 Token Usual to Enable Bitcoin and BRC-20 Token Staking

SAN FRANCISCO, UNITED STATES, June 1st, 2023, Chainwire

  • With BRC-30, OKX Wallet users will rapidly be ready to stake BRC-20 tokens and Bitcoin to map passive profits on their digital property

OKX, a leading Web3 company, this day introduced its proposal for a brand unusual, originate-provide BRC-30 protocol that allows staking of BRC-20 tokens and Bitcoin in express in self assurance to map BRC-30 tokens. The protocol is originate-provide and readily accessible for all builders to produce upon.

OKX Wallet will add pork up for the BRC-30 trendy in step with the protocol, enabling users to map passive profits by staking BRC-20 tokens or Bitcoin on Web3 Invent with out actively trading. This complements the prevailing vary of curated DeFi incomes merchandise already readily accessible by the platform.

The introduction of BRC-30 and its staking functionalities is pushed by OKX’s aim to present users with extra opportunities to take part in the Bitcoin ecosystem and map passive profits.

OKX Chief Innovation Officer Jason Lau said: “We’re extremely satisfied to enjoy proposed and pioneered the BRC-30 trendy to enable Bitcoin and BRC-20 token staking. With the OKX Wallet rapidly to encompass BRC-30 pork up, users will likely be ready to fetch entry to Bitcoin staking and map opportunities across multiple-chains. With the Bitcoin ecosystem seeing an explosion of unusual pattern, we’re proud to work with builders and projects across the neighborhood to make contributions to the enhance of the broader ecosystem.”

OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized alternate over two years ago. OKX Wallet will likely be the fundamental multi-chain pockets to pork up BRC-20 trading with the commence of its Ordinals Marketplace, to boot to the viewing and transfer of Bitcoin Ordinals.

About OKX

A number one global expertise company utilizing the components forward for Web3, OKX affords a complete suite of merchandise to meet the needs of inexperienced persons and experts alike, including the OKX Wallet, NFT Marketplace, DEX and Web3 Invent.

OKX partners with a vary of the sphere’s high producers and athletes, including: English Premier League champions Manchester Metropolis F.C., McLaren System 1, The Tribeca Pageant, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a frontrunner building progressive expertise merchandise, OKX believes in sturdy the living quo. The company no longer too prolonged ago launched a world put campaign entitled, The Machine Needs a Rewrite, which advocates for a brand unusual paradigm led by Web3 self-managed expertise to exchange existing centralized methods.

To study extra about OKX, catch our app or seek the advice of with: okx.com

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. OKX IS NOT ASSOCIATED WITH ANY PARTICULAR DEFI PROTOCOL, MAKES NO WARRANTIES, REPRESENTATIONS OR UNDERTAKINGS RELATING TO ANY DEFI PROTOCOL’S OFFERINGS, AND IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT OR INDIRECT LOSS OR OTHER DAMAGE ARISING FROM YOUR USE OF ANY DEFI PROTOCOL. OKX WALLET IS AN AGGREGATOR; ALL DISPLAYED ESTIMATED RETURN RATES ARE PROVIDED BY THE DEFI PROTOCOL, AND ARE NOT GUARANTEED NOR INDICATIVE OF FUTURE RETURNS. PLEASE CONDUCT YOUR OWN DUE DILIGENCE BEFORE INVESTING IN ANY DEFI PROTOCOL. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Contact

OKX, [email protected]


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