Cryptocurrency exchange OKX, has announced that its multichain wallet will now allow users to lock up and stake their Bitcoin (BTC) and BRC-20 tokens. This function is described as a token reward system for holders of Bitcoin and BRC-20 tokens.
OKX Unveils Staking System On Multichain Wallet
On Tuesday, OKX unveiled a new functionality on its multichain digital asset wallet, which enables users to stake Bitcoin (BTC) and BRC-20 tokens. According to the company’s media release, this token reward system is possible due to the integration of OKX’s open-source BRC20-S protocol.
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This protocol is an extended version of the BRC-20 standard that integrates functionalities for staking operations, like depositing, minting, and withdrawing. It allows users to earn BRC20-S tokens through the OKX Web3 DeFi aggregator.
Furthermore, the BRC20-S protocol enables decentralized finance (DeFi) devel
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