Introduction
OKX, a leading Web3 technology company, has unveiled its groundbreaking proposal for the BRC-30 token standard, designed to enable staking of Bitcoin and BRC-20 tokens to earn passive income. This open-source protocol marks a significant advancement in the Bitcoin ecosystem, offering users new avenues to participate in decentralized finance (DeFi) without active trading.
Key Features of BRC-30
- Bitcoin Staking: Users can stake Bitcoin directly, unlocking yield opportunities traditionally limited to proof-of-stake (PoS) chains.
- BRC-20 Token Support: Stake BRC-20 tokens to earn BRC-30 rewards, enhancing utility for existing assets.
- Multi-Chain Integration: OKX Wallet will support BRC-30 across multiple chains, broadening accessibility.
- Open-Source Protocol: Developers can build atop BRC-30, fostering ecosystem innovation.
👉 Explore Bitcoin staking with OKX Wallet
How BRC-30 Works
- Staking Mechanism: Users stake Bitcoin or BRC-20 tokens via OKX Wallet’s Web3 Earn platform.
- Reward Distribution: Earn BRC-30 tokens as passive income, distributed based on staked amount and duration.
- No Active Trading Required: Funds remain secure while generating yields.
Benefits for the Bitcoin Ecosystem
- Enhanced Utility: Moves Bitcoin beyond a store of value into active DeFi participation.
- Community Growth: Encourages developer collaboration and new project development.
- User Incentives: Passive income options attract broader adoption.
Quote from Jason Lau, OKX Chief Innovation Officer:
"BRC-30 represents our commitment to Bitcoin’s evolution. By enabling staking, we empower users to benefit from ecosystem growth while maintaining asset security."
OKX’s Bitcoin Ecosystem Contributions
- Lightning Network Integration: Supported since 2021 for faster, cheaper transactions.
- Ordinals Marketplace: First multi-chain wallet to facilitate BRC-20 trading and Bitcoin Ordinals management.
About OKX
A global leader in Web3, OKX offers:
- OKX Wallet: Multi-chain DeFi and NFT access.
- NFT Marketplace: Curated digital collectibles.
- Web3 Earn: Aggregated yield opportunities.
Partnered with top brands like Manchester City F.C. and McLaren Formula 1, OKX champions Web3 adoption through initiatives like "The System Needs a Rewrite", advocating decentralized alternatives to traditional systems.
FAQs
Q1: How does BRC-30 differ from BRC-20?
A1: BRC-30 introduces staking capabilities, allowing users to earn rewards, whereas BRC-20 is a token standard without native yield features.
Q2: Is staking Bitcoin secure?
A2: Yes. Staked Bitcoin remains non-custodial, with smart contracts handling rewards distribution.
Q3: When will BRC-30 launch?
A3: OKX Wallet plans to integrate BRC-30 support following community feedback and protocol finalization.
👉 Start staking with OKX today
Disclaimer:
This content is informational only. Digital assets involve risks; past performance doesn’t guarantee future results. Consult a financial advisor before engaging in staking or DeFi activities. OKX is not liable for third-party protocol performance.