OKX Proposes A New BRC-30 Protocol Enabling Staking of BRC-20 Tokens and Bitcoin

United States, June 4, 2023 / AlexaBlockchain/ – Leading Web3 company, OKX, has announced its groundbreaking proposal for a new open-source BRC-30 protocol. This protocol aims to revolutionize the staking landscape by enabling users to stake BRC-20 tokens and Bitcoin to earn BRC-30 tokens. The company’s vision is to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.

OKX, well-known for its commitment to innovation in the cryptocurrency industry, has now introduced the BRC-30 protocol. This open-source protocol allows developers to build upon its framework and further enhance its capabilities.

One of the key features of this development is that the OKX Wallet will integrate support for the BRC-30 standard, in accordance with the protocol. This means that OKX Wallet users will soon have the ability to earn passive income by staking BRC-20 tokens or Bitcoin on Web3 Earn, without the need for active trading.

This new functionality will complement the existing range of curated DeFi earning products already available through the platform.

OKX Chief Innovation Officer, Jason Lau, expressed excitement about the introduction of the BRC-30 standard.

He stated, “We’re thrilled to have proposed and pioneered the BRC-30 standard to enable Bitcoin and BRC-20 token staking. With the OKX Wallet soon to incorporate BRC-30 support, users will be able to access Bitcoin staking and earn opportunities across multiple chains.”

“We’re proud to work with developers and projects across the community to contribute to the growth of the wider ecosystem,” Jason added.

OKX has been a long-standing advocate of Bitcoin, having integrated the Lightning Network into its centralized exchange more than two years ago. Furthermore, OKX Wallet has been at the forefront of innovation, being the first multi-chain wallet to support BRC-20 trading through the launch of its Ordinals Marketplace.

Users have also been able to view and transfer Bitcoin Ordinals, establishing OKX Wallet as a reliable and convenient platform for cryptocurrency enthusiasts.

OKX is dedicated to disrupting the norm and pushing boundaries. In line with their vision, the company has initiated a global brand campaign called “The System Needs a Rewrite.” This campaign aims to promote a paradigm shift, advocating for the adoption of Web3 self-managed technology to replace the current centralized systems that dominate the industry. OKX firmly believes in reshaping the future through revolutionary advancements in technology.

The introduction of the BRC-30 protocol and its staking functionalities by OKX represents a significant milestone in the evolution of the cryptocurrency ecosystem. With this innovative approach, OKX is empowering its users to actively participate in the Bitcoin ecosystem while earning passive income. As the Bitcoin ecosystem continues to experience rapid development, OKX remains committed to collaborating with developers and projects across the community to foster growth and expansion.

Source: OKX

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