OKX Web3 Wallet becomes the first multi-chain wallet to support Bitcoin and BRC-20 token staking.
On July 19, 2023, OKX, a leading Web3 technology company, announced that the OKX Web3 wallet now supports Bitcoin and BRC-20 token staking, becoming the first multi-chain wallet in the industry to support this feature.
This feature is implemented based on the Bitcoin ecosystem standard proposed by OKX, the BRC 20-S protocol. The BRC 20-S protocol is now officially deployed and all developers and projects can go to OKX to deploy the BRC 20-S staking pool, providing BRC 20-S token rewards for BRC-20 token holders, thus improving user participation and community building. It is worth noting that BRC 20-S is an open-source protocol and OKX will not audit the deployment pool.
At the same time, users can also stake Bitcoin or BRC-20 tokens in pools of their choice through the DeFi section of the OKX Web3 wallet without selling the BRC-20 tokens, earning BRC 20-S token rewards.
The Bitcoin and BRC-20 token staking feature of the OKX Web3 wallet is a complement to its existing Earn product. In the future, more application scenarios such as the BRC 20-S token trading market will be launched, and these functions will be aggregated in the DeFi section of the OKX Web3 wallet.
Jason Lau, Chief Innovation Officer of OKX, said: "OKX Web3 wallet is the first multi-chain wallet to support Bitcoin and BRC-20 token staking. We have heard the feedback from OKX Web3 wallet users, who want more opportunities to participate in the Bitcoin ecosystem. We are excited to meet their needs. We have been listening to feedback and look forward to sharing other upcoming features later this month."
OKX has been a strong supporter of Bitcoin for a long time, integrating the Lightning Network into centralized exchanges two years ago to achieve faster and cheaper Bitcoin deposits and withdrawals. The OKX Web3 wallet has officially launched the Ordinals market, the first multi-chain wallet that supports BRC-20 tokens and Bitcoin NFT transactions, as well as the viewing and transfer of Ordinals NFTs.
About OKX
As a leading global Web3 technology company, OKX offers a comprehensive and rich portfolio of Web3 products, including the OKX Web3 wallet, NFT market, DEX, DeFi, and Dapp exploration, to meet the needs of beginners and professionals.
OKX works closely with English Premier League champions Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James, and F1 driver Daniel Ricciardo to enhance fan experiences through new interactive methods. Additionally, OKX is a top partner of the Tribeca Festival, dedicated to attracting more creators to the Web3 space.
As a leader in building innovative technology products, OKX dares to challenge the status quo. Recently, they launched a global brand campaign called The System Needs a Rewrite, advocating for a new paradigm led by Web3 self-governance technology.
