After recently proposing the feature, OKX has officially launched BTC and BRC-20 token staking for its non-custodial multichain wallet.
Powered by the open-source BRC20-S protocol—which introduced depositing, minting, and withdrawing operations for staking BRC-20 tokens—OKX’ multi-chain wallet now allows users to earn BRC20-S tokens through its Web3 DeFi aggregator.
By staking their BTC or BRC-20 tokens, users can now earn valuable BRC20-S tokens as rewards. This provides a novel way for users to participate actively in the ecosystem and presents an attractive opportunity to earn passive income while supporting the network’s operations.
OKX’s Chief Innovation Officer, Jason Lau, emphasized the company’s commitment to listening to user feedback:
“We have heard from OKX Wallet users that they want more opportunities to participate in the ecosystem, and we are thrilled to deliver that for them. We are constantly listening to feedback and look forward to sharing additional feature launches later this month.”
Empowering DeFi Developers and Projects
Beyond individual users, the BRC20-S protocol’s impact extends to DeFi developers and projects, offering them new avenues to engage with the community. OKX Wallet facilitates the creation of staking pools, enabling the distribution of BRC20-S tokens to both BTC holders and BRC-20 token holders.
This strategic move will bolster user engagement and foster stronger communities around various DeFi projects. Due to the BRC20-S protocol’ flexibility, developers can customize staking pools and rewards to suit the unique requirements of their projects.
Looking Ahead: A Flourishing Ecosystem
OKX has became the first multi-chain wallet to support BRC-20 token and Bitcoin NFT trading, solidifying its position at the cutting edge of technological advancements. With the imminent launch of a BRC20-S token marketplace, OKX is poised to elevate the user experience further and broaden investment opportunities within the ecosystem.
By enabling users to earn rewards while actively participating in the ecosystem, OKX has unlocked tremendous potential for the cryptocurrency community. Additionally, the capacity for DeFi developers and projects to create staking pools and distribute BRC20-S tokens heralds a new era of user engagement and community building. With its pioneering multi-chain wallet solutions and ongoing enhancements, OKX is poised to play a pivotal role in shaping the future of the crypto landscape.
