OKX, the cryptocurrency exchange, has recently announced that its multichain wallet now enables users to lock up and stake their Bitcoin (BTC) and BRC-20 tokens. This feature functions as a token reward system for Bitcoin and BRC-20 token holders.
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OKX Wallet adds staking for BTC and BRC-20 tokens. OKX Unveils Staking System On Multichain Wallet
OKX has introduced a new feature on its multichain digital asset wallet that allows users to stake Bitcoin (BTC) and BRC-20 tokens. This is made possible by integrating the OKX open-source BRC20-S protocol, which is an extended version of the BRC-20 standard that includes functionalities for staking operations such as depositing, minting, and withdrawing. Users can earn BRC20-S tokens through the OKX Web3 DeFi aggregator. The BRC20-S protocol also enables DeFi developers and projects to create staking pools on OKX Wallet, allowing Bitcoin and BRC-20 token holders to receive BRC20-S tokens. This will help DeFi projects increase user engagement and community-building efforts. According to Jason Lau, OKX’s Chief Innovation Officer, this wallet is the first multichain digital asset storage that supports Bitcoin and BRC-20 token staking. The company also plans to introduce complementary features in the future, such as a marketplace for selling BRC20-S tokens. OKX Wallet adds staking for BTC and BRC-20 tokens.
OKX Wallet Announces Integration With Kava Blockchain
OKX Wallet has announced a partnership with Kava, a blockchain platform built with Cosmos' SDK. This integration will provide users with additional options for digital asset transfer and transactions on the wallet. The partnership with PulseChain, another blockchain platform, was also recently unveiled by the multichain wallet. Despite these positive developments, OKB, the utility token of the OKX ecosystem, has seen a negligible market performance. According to CoinGecko data, the token's value has only increased by 0.3% in the last 24 hours and has experienced a 0.7% dip in the past week. As of this writing, OKB is trading at $43.14, with a daily trading volume of over $2.02 million and a market cap of roughly $2.59 billion, making it the 29th-largest cryptocurrency in the industry.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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