OKX Web3 wallet becomes the first multi-chain wallet to support Bitcoin and BRC-20 token staking
The OKX Web3 wallet will also introduce more application scenarios in the future, such as the BRC20-S token trading market, and these features will be aggregated in the wallet's DeFi section.Author: OKX
On July 19, 2023, global leading Web3 technology company OKX announced that the OKX Web3 wallet now supports Bitcoin and BRC-20 token staking, becoming the industry's first multi-chain wallet to support this feature.
This feature is implemented based on the Bitcoin ecological standard BRC20-S protocol proposed by OKX, which has now officially opened for deployment. Currently, all developers and project parties can go to OKX to deploy BRC20-S staking pools, providing BRC20-S token rewards for BRC-20 token holders, thereby better enhancing user engagement and community building. It is worth noting that BRC20-S is an open-source protocol, and OKX will not review the deployment of pools.
At the same time, users can also stake Bitcoin or BRC-20 tokens in selected pools through the DeFi section of the OKX Web3 wallet without selling their BRC-20 tokens, thus earning BRC20-S token rewards.
The Bitcoin and BRC-20 token staking feature of the OKX Web3 wallet is a supplement to its existing Earn products, and more application scenarios, such as the BRC20-S token trading market, will be launched in the future. These features will be aggregated in the DeFi section of the OKX Web3 wallet.
OKX Chief Innovation Officer Jason Lau stated, "The OKX Web3 wallet is the first multi-chain wallet to support Bitcoin and BRC-20 token staking. We have heard feedback from OKX Web3 wallet users who want more opportunities to participate in the Bitcoin ecosystem, and we are pleased to meet user needs. We have been listening to feedback and look forward to sharing other upcoming features later this month."
OKX has long been a strong supporter of Bitcoin, having integrated the Lightning Network into its centralized exchange two years ago to enable faster and cheaper Bitcoin deposits and withdrawals. The OKX Web3 wallet has officially launched the Ordinals market, becoming the first multi-chain wallet to support BRC-20 token and Bitcoin NFT trading, while also supporting the viewing and transfer of Ordinals NFTs.
About OKX
As a global leading Web3 technology company, OKX offers a comprehensive and rich Web3 product portfolio, including the OKX Web3 wallet, NFT market, DEX, DeFi, and Dapp exploration, to meet the needs of both beginners and professionals.
OKX closely collaborates with Premier League champions Manchester City F.C., McLaren F1 Team, Olympic snowboarder Scotty James, and F1 driver Daniel Ricciardo, aiming to enhance fan experience through new interactive methods. In addition, OKX is a top partner of the Tribeca Festival, dedicated to attracting more creators into the Web3 space.
As a leader in building innovative technology products, OKX dares to challenge the status quo and recently launched a global brand campaign called ++The System Needs a Rewrite++, advocating for a new paradigm led by Web3 self-management technology.
