Wallet is the first stop for exploring the Web3 world. It is a unity of payment, transaction, and interaction. It is also a collection of identity, assets, and accounts. It is also the key to promoting the large-scale application of Web3 technology. There are many pioneers on the wallet track who are at the forefront, and there are also latecomers who keep pace with each other. They have firm beliefs and are deeply involved in the battlefield. They continue to innovate in underlying technologies, gradually iterate and strengthen infrastructure construction, and continue to expand the boundaries of Web3 wallet applications.

As an established leading exchange with both technical strength, productivity and excellent product awareness, OKX’s OKX Web3 wallet launched in 2021 has pushed wallet product development into new areas through continuous breakthroughs, self-iteration and innovation, greatly reducing the The user threshold also provides one-stop service for the whole process, and its many first-of-its-kind functions are becoming the reference standard in the wallet industry.

Ordinals Market - the first choice for BRC 20 asset trading

The two core narratives of the expected approval of the Bitcoin spot ETF and the arrival of the halving cycle have given rise to the re-explosion of the Oridnals ecology, and the BRC 20 asset has been widely sought after by the community. However, the unexpected popularity exposed the shortcomings of the lack of Bitcoin-related infrastructure. In the short term, there was a gap between user demand and the supply of high-quality products. In order to bridge user needs and assist the development and construction of the Bitcoin ecosystem, OKX Web3 has made full use of its technology, development and other advantages to start promoting the development of Oridnals ecological infrastructure and leading the establishment of relevant standards in the Bitcoin industry.

At the end of May this year, the OKX Web3 wallet was fully launched on the Ordinals market. With its smooth product experience, comprehensive functions, good liquidity, and 0 handling fees, it has received praise and has become the preferred platform for entering the Bitcoin ecosystem. According to Dune data, Bitcoin Ordinals transactions currently account for nearly 70%, ranking first in the industry.

The OKX Web3 wallet Ordinals market is completely decentralized, and interaction is free of platform service fees. It is the first multi-chain APP wallet in the industry to support the Ordinals market. Users can easily participate in and play with the Bitcoin ecosystem through the Ordinals market, a one-stop transfer, trade, and engraving of BRC-20 and BTC NFT.

UTXO management function that is prioritized online - will be upgraded to smart release soon

Starting from April, the gradual launch of BRC 20 gradually brought the Ordinals ecosystem to a climax. OKX Web3 wallet immediately launched the Ordinals market, and after the opening of BTC NFT and BRC-20 trading functions, other functions such as minting were added. Subsequently, pioneering and innovative gameplay such as BRC 20s was extended. However, as more and more Bitcoin inscriptions appear, some of the UTXOs occupied by abandoned Ordinals inscriptions will cause part of the users BTC balance to be unavailable, making it impossible to make normal transfers or gas payments. Therefore, OKX Web3 wallet launched UTXO management as soon as possible. Function.

However, during the process of users manually releasing UTXO occupation, valuable UTXO may be released due to misoperation. In order to avoid asset losses caused by users being unfamiliar with the UTXO release function, OKX Web3 Wallet will upgrade the UTXO management function to the UTXO smart release function. This function is designed to help users automatically identify worthless NFTs (including expired NFTs). BRC-20 and BRC 20 s inscription), if the users UTXO only contains worthless NFT, it will be automatically released. This operation will not affect the users valuable NFT assets, allowing users to interact more effectively in the Bitcoin ecosystem. Peace of mind.

Non-intrusive switching between multiple chains - making transactions as simple as CEX

In the huge Web3 world, there are many public chains, and the technologies used are also different. Each one has its own development direction and ecology. During the interaction between different projects, users need to frequently switch between different public chains, and even need to add their own custom networks. How to simplify complicated procedures, and even complete transactions of assets on different chains through minimal steps like a centralized trading platform, has become one of the problems that wallets need to solve.

The value of OKX Web3 wallets multi-chain non-intuitive switching is mainly reflected in two aspects: on the one hand, users do not need to manually switch the chain where the asset is located when transferring assets. They can directly click Hold Assets on the asset management page to transfer assets on different chains. Send and transfer; on the other hand, in the chains supported by the OKX Web3 wallet, users do not need to manually add the two chains that need to be crossed when conducting cross-chain transactions. They can directly select the asset pair they want to trade on the transaction interface. Cross-chain transactions are very convenient.

In addition, OKX Web3 wallet has supported 79+ public chain wallets, meeting the asset trading needs of most users on various chains.

OKX AA smart contract wallet - lowering the threshold and simplifying complexity

The AA wallet was born to solve some of the challenges and limitations faced by private key wallets. Through the AA smart contract wallet, users can interact with multiple contracts in one transaction, which increases the convenience for novice users and also satisfies Multi-level needs of advanced users, thereby creating a more user-friendly and intuitive wallet experience.

This year OKX officially launched the AA smart contract wallet, which was rated as the iPhone moment of Web3 wallets. Its first phase of functionality already supports users to create AA smart contract wallets on 7 popular public chains, including Ethereum, Polygon, Arbitrum, Optimism and Avalanche, and use the stable currency USDT/USDC to directly pay Gas, and interact with DEX and DeFi on the chain in multiple steps. Multiple functions such as one-click completion greatly improve the convenience of using the wallet.

After users have a mnemonic wallet/private keyless wallet/hardware wallet on the OKX App, they can immediately experience the AA smart contract wallet. Compared with private key wallets, in the future, OKX AA smart contract wallet will also plan to launch social recovery, wallet applet components, gas payment for relatives and friends and other highlighted functions to further lower the user threshold.

Wallet batch creation - achieving distributed storage of assets

Different projects need to be authorized during Web3 interaction, but there are certain risks in different interactive authorizations. Especially for niche projects, it is safer and more appropriate to use independent wallet addresses. However, multi-wallet private keys bring management risks, which seems to be an irreconcilable contradiction. To this end, OKX Web3 Wallet has launched a set of mnemonic words to derive multiple account wallets, which can support up to 100, reducing the risk of user private keys being leaked while enabling easy and convenient asset management.

This feature has also been welcomed by another group of users who participate in project testing to obtain airdrops. They use multiple accounts to participate in interactions with different projects to obtain project airdrop rewards. The more participating addresses, the more rewards they receive. Derived wallets greatly increase the management costs for these users.

BONUS interest rate increase rewards—increase income scenarios on the chain

As the RWA track brings incremental funds from traditional finance and the emergence of crypto-native protocol innovations and models, the huge potential of the DeFi track is being reactivated. However, due to the cumbersome operation steps on the chain, the high cost of step-by-step payment, obscure new concepts, unexpected risks and loopholes, etc., it is actually difficult for most users to participate in high-quality DeFi projects, even if participation can only be simple. Staking, Swap and other operations cannot fully understand and make full use of its composability features, resulting in a relatively low capital utilization rate.

In order to solve the many pain points of users participating in DeFi, OKX Web3 Wallet has launched the DeFi section of the one-stop on-chain investment platform. Through continuous product optimization and iteration, it has now aggregated 10+ public chains, 60+ projects, and 200+ protocols. Investment products support users with one-click cross-currency investment, automatic income calculation and other convenient operations, helping them improve fund utilization while saving gas, making DeFi investment easier.

In addition, in order to improve user income scenarios, the OKX DeFi sector has also exclusively launched BONUS interest rate rewards. By cooperating with high-quality project parties, it has launched various flexible gameplay methods to help users earn multi-layer rewards, and realizes the separation of principal and interest through the contract layer to ensure that users Financial security.

The top intelligent algorithm of trading aggregator X Routing - automatically finds the best trading price

Crypto-asset Swap is the most frequent and commonly used on-chain function for users. However, current DEX has many pain points such as low transaction speed, high transaction costs, and few asset types. And with the prosperity and development of public chains, the demand for cross-chain asset transactions and exchanges has increased sharply. Problems such as the number, liquidity, and security of public chains supported by many DEXs have become increasingly exposed, making it impossible to better meet user needs. In order to help users better conduct on-chain asset exchange and cross-chain, OKX took the lead in launching a powerful DEX and cross-chain aggregator.

OKX DEX has recently completed a new algorithm upgrade. It will search and list all available cross-chain bridges, and use the independently developed X-Routing algorithm to comprehensively calculate each DEX quotation, network fees, slippage, etc., and compare the differences. After ranking, thereby providing users with the optimal transaction path. At the same time, OKX DEX will also provide all available cross-chain bridge transaction paths based on the three dimensions of comprehensive optimization, largest quantity, and shortest time, providing users with personalized choices.

The current OKX Web3 wallet has aggregated 20+ cross-chains, 20+ public chains, 300+DEX, etc., providing users with the best price, best liquidity and 0 transaction service fees, and also has a DEX market section, price limit, etc. Single, KYT security detection and other functions. In addition, many mainstream protocols have also actively integrated OKX DEX API to provide their users with better trading liquidity and optimal quotes.