This page is for information purposes only. Certain services and features may not be available in your jurisdiction.

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

OKX Learn
OKX Learn
Published on Jun 01, 2023
Updated on Apr 25, 2024
2 min read
  • With BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their digital assets

SAN FRANCISCO, JUNE 1, 2023 -- OKX, a leading Web3 company, today introduced its proposal for a new, open-source BRC-30 protocol that enables staking of BRC-20 tokens and Bitcoin in order to earn BRC-30 tokens. The protocol is open-source and available for all developers to build upon.

OKX Wallet will add support for the BRC-30 standard according to the protocol, enabling users to earn passive income by staking BRC-20 tokens or Bitcoin on Web3 Earn without actively trading. This complements the existing range of curated DeFi earning products already available through the platform.

The introduction of BRC-30 and its staking functionalities is driven by OKX's goal to provide users with additional opportunities to participate in the Bitcoin ecosystem and earn passive income.

OKX Chief Innovation Officer Jason Lau said: "We're thrilled to have proposed and pioneered the BRC-30 standard to enable Bitcoin and BRC-20 token staking. With the OKX Wallet soon to incorporate BRC-30 support, users will be able to access bitcoin staking and earn opportunities across multiple-chains. With the Bitcoin ecosystem seeing an explosion of new development, we're proud to work with developers and projects across the community to contribute to the growth of the wider ecosystem."

OKX is a longstanding supporter of Bitcoin, having integrated the Lightning Network to its centralized exchange over two years ago. OKX Wallet is also the first multi-chain wallet to support BRC-20 trading with the launch of its Ordinals Marketplace, as well as the viewing and transfer of Bitcoin Ordinals.

Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.

Related articles
View more
Haider X Layer
Web3
Introducing X Layer: Our New EVM Compatible Layer 2 Network Designed to Build the Future of Web3
A message from our Chief Marketing Officer Haider Rafique Calling all Web3 builders! Today we’re excited to introduce X Layer to the world . Our new native network, X Layer is a Zero-Knowledge (ZK) Ethereum Layer 2 (L2) and is built with the (CDK) as part of a strategic collaboration between us and Polygon Labs.
Oct 28, 2024
OKX Ventures invests in Celestia Labs
Blockchain
OKX Ventures Announces Investment in Celestia Labs
Hong Kong, October 16, 2023 - OKX Ventures , the investment arm of leading crypto exchange and Web3 technology company OKX , today announced its participation in Celestia Lab 's Series B funding round, which took place last year.
Oct 28, 2024
OKX McLaren Stealth Mode PR Reveal English
Web3
OKX switch McLaren MCL60 race car to Stealth Mode for the Singapore Grand Prix
![OKX McLaren Stealth Mode PR Reveal English](//images.ctfassets.net/4nqoo8goeymu/6bZiuoSXBAILqxBUg7oqA/6c6c7287e83e327ceccee5886bdffb69/OKX_McLaren___Stealth_Mode___PR_Reveal_English.jpg) __SINGAPORE
Oct 28, 2024
OKX Polygon Labs
Web3
We're Launching X Layer, a New zKEVM Layer-2 Network, Built with Polygon CDK
X Layer connects our 50m+ users with massive global Polygon and Ethereum builder communities This collaboration also sees us becoming a core contributor for Polygon CDK, committing engineering and other resources to scaling Ethereum
Apr 25, 2024
ICE Token Listing on OKX
Listings
We're the First Exchange to List Ice Open Network's ICE Token on Our Spot Market
Today, we're excited to announce that we are the first exchange to list the ICE token on our spot market. ICE is the token that fuels Ice Open Network (ION), a high-performance, multi-threaded and multi-shard blockchain that is capable of processing millions of transactions per second.
Oct 28, 2024
A New Alternative For Dubai
OKX
OKX’s Dubai launch event: the insight and commentary you might have missed
Dubai's visionary Museum of the Future provided a fitting backdrop as we announced the official launch of our VARA (Virtual Asset Regulatory Authority)-licensed crypto exchange in Dubai , United Arab Emirates (UAE), on October 10, 2024. Not just another pin in our map of licensed locations globally, this milestone marks something much bigger — a new alternative to traditional finance for Dubai.
Oct 12, 2024
View more
Sign up to OKX