- OKC Liquid Staking reduces the entrance requirements for staking, while also enabling users to deploy staked tokens in other contexts.
- Users that stake OKT with Liquid Staking may obtain an annual percentage rate of up to 40%.
OKC (OKX Chain), the blockchain that is supported by OKX and is compatible with EVM and IBC, recently made the announcement that it has launched its Liquid Staking protocol. The DeFi ecosystem on OKC is fast increasing, and one of the most important parts of this ecosystem is liquid staking. It makes it possible for users of OKC to make efficient and flexible use of the chain’s native currency, OKT, while simultaneously providing users with staking incentives of up to 40% annual percentage rate (APR).
Users of OKC Benefit from Improved Liquidity and Asset Utilization
Liquid Staking solves the drawbacks that are associated with traditional staking solutions, which include inaccessibility and illiquidity. It does this by providing users with the opportunity to stake rewards without imposing a minimum token investment requirement or a lock-up time.
OKC Liquid Staking provides users with the opportunity to receive staking incentives on their OKT tokens while simultaneously deploying the tokens in other protocols. Users have access to the Liquid Staking platform, which enables them to stake OKT and get staked OKT in return. After that, they have the option of either trading the stOKT for OKT on the OKX DEX or deploying the stOKT in on-chain DeFi protocols to receive more incentives.
OKC’s Head of Ecosystem Development, Chai Li, made the following statement: “Our plan to further decentralization and provide more possibilities for OKX users includes the use of liquid staking as a critical component. Liquid Staking not only increases the usefulness of assets and their liquidity, but it also plays a significant part in the growth of on-chain TVL and ecosystem development. We are overjoyed to see Liquid Staking expanding in tandem with OKC’s other DeFi products and laying the groundwork for more sophisticated protocols to be built on-chain in the foreseeable future.”
Providing Support for the OKC Ecosystem
OKC, also known as OKX Chain, was developed to facilitate the widespread adoption of DeFi and Web3 technologies. It gives developers of decentralized apps (DApps) the ability to deploy their applications and crypto assets on the OKC ecosystem while taking use of the fast throughput, cheap gas prices, and secure network that OKC provides.
It is anticipated that the implementation of Liquid Staking would lead to a greater TVL (or total value locked) on the OKC network. This will make it possible for the OKC network to further enhance its capabilities as well as the advantages it provides to users.
OKC Liquid Staking is now available for users, allowing them to stake OKT and reap incentives of up to 40% APR.
Compiled by Coinbold