OKX introduces staking-like function for BTC and BRC-20 tokens
Crypto.news
Published Jul 20, 2023 02:45AM ET
Updated Jul 20, 2023 03:00AM ET
OKX introduces staking-like function for BTC and BRC-20 tokens
Crypto.news - OKX has announced a new feature that allows users to lock their bitcoin or BRC-20 tokens in return for BRC20-S tokens.
This feature offers an additional service for users hoping to enhance their experience within the ecosystem.
By locking up their bitcoin or BRC-20 tokens, users receive BRC20-S tokens as rewards. The BRC20-S standard extends the prevalent bitcoin token standard, representing OKX’s approach in the digital currency sphere.
Moreover, DeFi developers and projects have the opportunity to harness the BRC20-S protocol. They can establish staking pools and distribute BRC20-S tokens to the holders of bitcoin and BRC-20 tokens.
OKX has also announced plans to unveil a marketplace dedicated to BRC20-S tokens. This platform could provide users with another interaction layer with these digital assets.
This article was originally published on Crypto.news
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