OKX, a prominent player in the cryptocurrency exchange market, has recently unveiled an innovative token reward system. This system, akin to staking, is designed for Bitcoin and BRC-20 tokens.
OKX Wallets Token Reward System for Bitcoin and BRC-20 Tokens
The new feature allows OKX Wallet users to lock up their Bitcoin or BRC-20 tokens and in return, they receive BRC20-S tokens as rewards. The BRC20-S standard is an extension developed by OKX to the existing standard for creating tokens on Bitcoin.
Jason Lau, the Chief Innovation Officer at OKX, expressed that the company has been listening to its users who have been seeking more opportunities to engage in the ecosystem. The BRC20-S protocol will enable developers and projects to establish staking pools and distribute BRC20-S tokens to Bitcoin and BRC-20 token holders.
Upcoming Marketplace for BRC20-S Tokens
In addition to the staking-like system, OKX also announced plans to launch a marketplace for selling BRC20-S tokens. This move is expected to further enhance the utility and value of these tokens.
About OKX Wallet
OKX Wallet is a key product of OKX, a leading cryptocurrency exchange. It offers a secure and convenient way for users to store and manage their digital assets. With the introduction of the new token reward system, OKX Wallet is not only enhancing its functionality but also creating more opportunities for its users to participate and benefit from the growing digital asset ecosystem.
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