OKX Proposes Business-First BRC-30 Token Normal to Allow Bitcoin and BRC-20 Token Staking

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

• With BRC-30, OKX Pockets customers will quickly be capable to stake BRC-20 tokens and Bitcoin to earn passive revenue on their digital property

OKX, a number one Web3 firm, right now launched its proposal for a brand new, open-source BRC-30 protocol that allows staking of BRC-20 tokens and Bitcoin with the intention to earn BRC-30 tokens. The protocol is open-source and obtainable for all builders to construct upon.

OKX Pockets will add assist for the BRC-30 normal in keeping with the protocol, enabling customers to earn passive revenue by staking BRC-20 tokens or Bitcoin on Web3 Earn with out actively buying and selling. This enhances the present vary of curated DeFi incomes merchandise already obtainable by the platform.

The introduction of BRC-30 and its staking functionalities is pushed by OKX’s purpose to offer customers with further alternatives to take part within the Bitcoin ecosystem and earn passive revenue.

OKX Chief Innovation Officer Jason Lau stated: “We’re thrilled to have proposed and pioneered the BRC-30 normal to allow Bitcoin and BRC-20 token staking. With the OKX Pockets quickly to include BRC-30 assist, customers will be capable to entry Bitcoin staking and earn alternatives throughout multiple-chains. With the Bitcoin ecosystem seeing an explosion of latest growth, we’re proud to work with builders and tasks throughout the group to contribute to the expansion of the broader ecosystem.”

OKX is a longstanding supporter of Bitcoin, having built-in the Lightning Community to its centralized alternate over two years in the past. OKX Pockets can be the primary multi-chain pockets to assist BRC-20 buying and selling with the launch of its Ordinals Market, in addition to the viewing and switch of Bitcoin Ordinals.

About OKX

A number one international expertise firm driving the way forward for Web3, OKX supplies a complete suite of merchandise to satisfy the wants of newcomers and specialists alike, together with the OKX Pockets, NFT Market, DEX and Web3 Earn.

OKX companions with plenty of the world’s prime manufacturers and athletes, together with: English Premier League champions Manchester Metropolis F.C., McLaren Method 1, The Tribeca Pageant, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a pacesetter constructing revolutionary expertise merchandise, OKX believes in difficult the established order. The corporate just lately launched a world model marketing campaign entitled, The System Wants a Rewrite, which advocates for a brand new paradigm led by Web3 self-managed expertise to interchange current centralized methods.

To be taught extra about OKX, obtain our app or go to: 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]