Earn Passive Income With OKX’s Industry-First BRC-30 Token Standard

• OKX has proposed a new, open-source BRC-30 protocol that enables staking of BRC-20 tokens and Bitcoin.
• The OKX Wallet will add support for the BRC-30 standard according to the protocol, allowing users to earn passive income by staking their digital assets.
• This move is part of OKX’s goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.

Introduction

OKX, a leading Web3 company, has proposed an open-source protocol called BRC-30, which enables staking of BRC-20 tokens and Bitcoin. The OKX Wallet will add support for the BRC-30 standard according to this protocol, allowing users to earn passive income by staking their digital assets. This is part of OKX’s goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.

Working of BRC-30

The proposed protocol will enable users of the OKX Wallet to stake either BRC-20 tokens or Bitcoin on Web3 Earn in order to receive rewards in form of BRC-30 tokens. This addition complements existing DeFi earning products already available through the platform like curated pools and lending protocols etc.

Benefits

By introducing this new token standard, OKX aims at providing its users with more options when it comes to participating in the Bitcoin ecosystem as well as earning passively from it. The open source nature also allows developers across the community contribute towards it’s growth and development further opening up opportunities for all stakeholders involved in the process.

OKX’s Commitment To Bitcoin

OKX has been an active supporter of Bitcoin since long having integrated Lightning Network into its centralized exchange over two years ago. It is also first multi chain wallet provider which allows viewing and transfer of Bitcoin Ordinals along with trading via its Ordinals Marketplace using BCR – 20 Tokens .

Conclusion

The introduction of this new token standard marks another milestone for Okx on its mission towards driving future web 3 solutions while giving its user base more options when it comes to utilizing their digital assets within bitcoin network for better returns .