- Following the launch of the BRC20-S protocol, which is open-source and available for all developers to build upon, web users can now earn BRC20-S tokens by staking Bitcoin or BRC-20 tokens
SAN FRANCISCO, July 19, 2023 /PRNewswire/ — OKX, a leading Web3 technology company, has announced that its multi-chain wallet now allows users to stake both Bitcoin (BTC) and BRC-20 tokens. This new capability is made possible by the implementation of OKX’s open-source BRC20-S protocol, which enables users to earn BRC20-S tokens via the OKX Web3 DeFi aggregator.
The BRC20-S protocol also allows DeFi developers and projects to create staking pools on OKX Wallet. This enables them to distribute BRC20-S tokens to Bitcoin holders or BRC-20 token holders, which can help with their user engagement and community building efforts.
OKX Chief Innovation Officer Jason Lau said: “OKX Wallet is the first multi-chain wallet that enables staking for Bitcoin and BRC-20 tokens. 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.”
OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized exchange over two years ago to enable faster and cheaper BTC deposits and withdrawals. OKX Wallet is also the first multi-chain wallet to support BRC-20 token and Bitcoin NFT trading with the launch of its Ordinals Market, as well as the viewing and transfer of Bitcoin Ordinals.
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As a leading global technology company driving the future of Web3, OKX provides access to a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace, DEX and Web3 DeFi.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
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