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OKX is launching a new feature on July 4, 2024, 7:00 am UTC, which gives users the choice to verify addresses in their withdrawal address book for 30 days or permanently. How does this new feature work? When an address is verified for 30 days, withdrawals have to be made within 30 days to maintain its verified status. If no withdrawal is made, its verification will expire and future withdrawals to this address will require security verification.If a withdrawal is made, the expiry date will be extended to 30 days after the latest withdrawal date. For example, if you make a transaction at 7:00 am UTC July 4, 2024, the verification period will be extended to 7:00 am UTC August 3, 2024. How does this impact existing verified addresses? Starting from 7:00 am UTC on July 4, 2024, all existing verified addresses in the OKX withdrawal address book will be placed on a 30-day expiry period. Please review these addresses and if you wish to verify them permanently, try one of the following two methods: Wait until the 30-day verification expires and verify the addresses again permanently. Delete the addresses and add them again as permanently verified addresses. How to verify addresses for 30 days? When you choose to verify an address in the withdrawal address book, it will be verified for 30 days by default. Select "Change verification period" to verify the address permanently. This feature will be available in both web and app (version 6.75 and newer). OKX team July 4, 2024
OKX will offer Compound v3 (Arbitrum) - USDC on On-chain Earn, starting from 10:00 am UTC on July 3rd, 2024. This will allow users to experience on-chain rewards without any hassle. What's Compound v3? Compound v3 is an EVM compatible protocol that enables supplying of crypto assets as collateral in order to borrow the base asset. Accounts can also earn interest by supplying the base asset to the protocol. Rewards and distribution rules Deposit interest: Users earn interest by depositing the base asset USDC into the protocol. The interest will be disbursed when the user redeems the principal. COMP token rewards: COMP is the governance token of the Compound protocol. By providing liquidity, users can earn COMP rewards in addition to interest. These rewards are distributed to the user's funding account every 8 days. ARB token rewards: As of July 15th, the first phase of the event will share an additional 100,000 ARB in rewards with OKX Web3 Wallet. Rewards will be distributed daily to users' funding accounts. On-chain Earn highlights: No subscription limits Simplified operational steps, resulting in a more fluid user experience Real on-chain annualized earnings To subscribe COMP v3 on On-chain Earn, follow the instructions below: On browser: Navigation bar > Grow > Earn > On-chain Earn, search USDC and select Compound v3 (Arbitrum) and subscribe On the OKX app: Grow > Earn > On-chain Earn, search COMP v3 and search USDC and select Compound v3 (Arbitrum) and subscribe Disclaimer Regarding On-chain Earn products, as the DeFi mechanisms for different projects may vary, it's important to carefully read and understand the mechanism rules for each project before subscribing. These rules include, but aren't limited to the minimum redemption amount, interest accrual start time, reward distribution time, principal redemption period, and expected annualized earnings. OKX will extract a certain percentage of fees from users. For detailed fee information, please refer to the product introduction page. Except for project launch and reward distribution, OKX assumes no responsibility for disputes over any agreement, hacking incidents, project fraud, and other risks that may result in asset loss for the subscribers. Thank you for your continued support. We'll be launching more On-chain Earn products in the coming weeks. Stay tuned for more information. OKX team July 3rd, 2024
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