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SAN FRANCISCO, UNITED STATES, June 1st, 2023, Chainwire



<ul>
<li>With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets</li>
</ul>



OKX, a leading Web3 company, today introduced its </a>proposal</a> for a new, open-source BRC-30 protocol that enables staking of BRC-20 tokens and Bitcoin in order to earn BRC-30 tokens. The protocol is open-source and available for all developers to build upon.



OKX Wallet will add support for the BRC-30 standard according to the protocol, enabling users to earn passive income by staking BRC-20 tokens or Bitcoin on Web3 Earn without actively trading. This complements the existing range of curated DeFi earning products already available through the platform.



The introduction of BRC-30 and its staking functionalities is driven by OKX&#8217;s goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.



OKX Chief Innovation Officer Jason Lau said: &#8220;We&#8217;re thrilled to have proposed and pioneered the BRC-30 standard to enable Bitcoin and BRC-20 token staking. With the OKX Wallet soon to incorporate BRC-30 support, users will be able to access Bitcoin staking and earn opportunities across multiple-chains. With the Bitcoin ecosystem seeing an explosion of new development, we&#8217;re proud to work with developers and projects across the community to contribute to the growth of the wider ecosystem.&#8221;



OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized exchange over two years ago. OKX Wallet is also the first multi-chain wallet to support BRC-20 trading with the launch of its Ordinals Marketplace, as well as the viewing and transfer of Bitcoin Ordinals.



About OKX



A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace, DEX and Web3 Earn.



OKX partners with a number of the world&#8217;s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, 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.







Disclaimer:&nbsp;This is a commercialised press release and no one from Todayq News is involved in creation of this content. Todayq News does not endorse any content or service on this page. This press release should not be considered as a piece of investment advice and readers should do their research before taking any actions and take full responsibility for their decisions.
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OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

Todayq News

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