Cryptocurrency exchange OKX announced its wallet will provide a staking-like function for bitcoin and tokens on Bitcoin.
The exchange described it as a form of staking.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Cryptocurrency exchange OKX announced its wallet will provide a staking-like function for tokens on Bitcoin and native bitcoin.
Anyone who locks up their bitcoin or BRC-20 tokens using this process will receive BRC20-S tokens as rewards. The"We have heard from OKX Wallet users that they want more opportunities to participate in the ecosystem," the company's Chief Innovation Officer Jason Lau said in a statement. DeFi developers and projects will be able to use the BRC20-S protocol"to create staking pools" and then"distribute BRC20-S tokens" to holders of bitcoin and BRC-20 tokens, OKX added.© 2023 The Block Crypto, Inc. All Rights Reserved. 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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