2023-07-20 16:32:12
Crypto exchange OKX announced on July 18 that its multi-chain wallet will now support staking and locking Bitcoin (BTC) and BRC-20. This feature is a kind of reward system for BRC-20 tokens and bitcoin holders. According to the press release, this reward system was made possible by OKX’s integration of the open source BRC20-S protocol. This is an extended version of the BRC-20 standard, which already integrates functions such as deposit, creation, and payout for staking activities. OKX Wallet also needs development And the best thing is that with the help of the OKX Web3 DeFi aggregator, users can also earn BRC20-S tokens with it. Developers can now create staking pools for the OKX wallet. Thus, with Bitcoin and BRC-20 tokens tied to staking pools, holders can also earn BRC20-S tokens. And this also contributes to the building of the community, which was also one of the main goals of the development of the function. According to Jason Lau, chief innovation officer of OKX, they have already received quite a lot of feedback from users that they want to be more involved in the ecosystem. Lau also said that this wallet is likely to be the first multi-chain wallet to support Bitcoin and BRC-20 token staking. Further expansions are expected in the future, so for example a marketplace for the sale of BRC20-S tokens will also be developed. In parallel, OKX Wallet also announced a partnership with Kava, an Ethereum Virtual Machine (EVM) compatible blockchain. In this way, the possibilities for users to move various devices and perform transactions are further expanded. Of course, the world of OKX is only so beautiful in the press release, because the native token of the OKX ecosystem, OKB, is only among the 30 largest cryptocurrencies with a market capitalization of roughly 2.5 billion dollars.
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#Bitcoin #BRC20 #staking #coming #OKX #wallet
