(image: OKX)
VICTORIA, Seychelles, Dec. 20 (Korea Bizwire) — OKC (OKX Chain), the EVM and IBC-compatible chain backed by OKX, has announced the launch of its Liquid Staking protocol. Liquid Staking is a key element of the rapidly-expanding DeFi ecosystem on OKC. It provides a way for OKC users to effectively and flexibly utilize the chain’s native token, OKT, while offering users staking rewards of up to 40% APR.
Better Liquidity & Asset Utilization for OKC Users
By offering users staking rewards with no minimum token investment requirement and no lock-up period, Liquid Staking addresses problems with conventional staking products that include inaccessibility and illiquidity.
OKC Liquid Staking also allows users to earn staking rewards on their OKT while deploying the tokens in other protocols. Users can utilize Liquid Staking to stake OKT and receive stOKT (staked OKT) in return. They can then deploy the stOKT in on-chain DeFi protocols to earn more rewards or swap the stOKT for OKT on the OKX DEX.
Chai Li, Head of Ecosystem Development, OKC, said: “Liquid Staking is a key element of our vision for promoting decentralization and creating more opportunities for OKX users. Liquid Staking adds liquidity and utility of assets, and also plays an important role in boosting on-chain TVL and ecosystem development. We’re thrilled to see Liquid Staking grow in parallel with OKC’s other DeFi products and lay the foundation for advanced protocols being developed on-chain in the future.”
Bolstering the OKC Ecosystem
OKC, also known as OKX Chain, is built to empower DeFi and Web3 adoption globally. It offers DApp developers the means to deploy their applications and crypto assets on the OKC ecosystem while enjoying the benefits of high throughput, low gas fees, and a secure network.
The launch of Liquid Staking is expected to contribute to a higher TVL (or total value locked) on the OKC network, allowing it to further expand its capabilities and the benefits it offers to users.
Users can now stake OKT through OKC Liquid Staking to receive rewards of up to 40% APR.
For further information, please contact:
Media@okx.com
About OKC
OKXC is an EVM-compatible L1 built on Cosmos with a focus on true interoperability (IBC) and maximized performance. At high scalability, developers can build and scale with low gas fees. The OKC ecosystem and infrastructure, including the all-in-one multi-chain Web3 interface, enables a seamless experience for both developers and users.
OKC experienced significant growth in 2022. It integrated over 190 new projects, securely processed over 195 million transactions, and saw more than 81 million total wallet addresses created.
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Source: OKX via GLOBE NEWSWIRE
