• OKX, a leading web3 company, has proposed the industry-first BRC-30 token standard which enables users to stake BRC-20 tokens and bitcoin.
• This open source protocol, combined with OKX Wallet’s support, offers users new opportunities to participate in the Bitcoin ecosystem and generate passive income.
• The introduction of the BRC-30 standard and its staking functionalities aligns with OKX’s commitment to providing users with diverse opportunities to participate in the Bitcoin ecosystem while generating passive income.
Introducing the BRC-30 Token Standard
OKX, a leading web3 and crypto exchange company, has unveiled its proposal for the BRC-30 token standard, a new protocol that facilitates the staking of BRC-20 tokens and bitcoin (BTC). This innovative protocol is open-source and accessible to all developers.
Staking Opportunities on OKX Wallet
OKX Wallet will soon incorporate support for the BRC-30 standard, granting users the opportunity to generate passive income through staking without the need for active trading. This initiative serves as a complementary addition to the platform’s existing curated DeFi earning products.
The Benefits of Staking on OKX
By participating in staking activities on OKX Wallet, users can access Bitcoin staking and earning opportunities across multiple chains. This provides them with diverse opportunities to participate in the Bitcoin ecosystem while generating passive income.
Background Information: The BRC-20 Token Standard
A new experimental token standard dubbed as known as BRC-20 recently emerged on the Bitcoin blockchain. Created by an anonymous blockchain analyst named Domo in March 2023, this ERC-20 inspired protocol allows developers to create and transfer fungible tokens using Ordinals Protocol.
Conclusion
The introduction of this industry first BRC-30 token standard opens up exciting possibilities for developers who are looking for ways to capitalize on their digital assets while participating in the broader economy of cryptocurrency ecosystems such as Bitcoin’s network. With OKX’s pioneering efforts combined with its wallet’s support of this new protocol’s capabilities, users can now easily access innovative tools that will enable them to generate additional passive incomes through various forms of staking activities within these networks without having any prior experience or knowledge about cryptocurrencies or trading markets whatsoever.