DUBAI, the United Arab Emirates, Sept. 14, 2023 (GLOBE NEWSWIRE) -- OKX, a leading crypto exchange by trading volume and a leading Web3 technology company, has issued updates for September 14, 2023.
OKX Adds DAI Stablecoin to On-Chain Earn Product
OKX today added the DAI stablecoin to its On-Chain Earn product, which gives users the opportunity to earn rewards for their participation in Proof-of-Stake (PoS) staking and DeFi protocols without paying gas fees.
With this latest addition, users can stake a minimum of 1 DAI and earn daily interest, with an annual appreciation rate (APR) of approximately 5%*. The staked DAI and its associated interest can be redeemed at any time; redeemed funds will be distributed to the user's Funding account.
DAI, a stablecoin on the Ethereum blockchain, is maintained and regulated by MakerDAO, a decentralized autonomous organization. With the addition of DAI, OKX users can now participate in on-chain earning opportunities through PoS staking and DeFi protocols using DAI.
OKX On-chain Earn products are built on a secure and reliable infrastructure with no service fees or commissions for participation in PoS staking or DeFi protocols. To protect users' assets, OKX only partners with verified third-party projects.
To learn more about On-Chain Earn's newest addition, click here.
*Note: The APR is adjusted automatically based on MakerDAO's conditions.
For further information, please contact:
Media@okx.com
About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
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, hold or offer any services relating to 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 and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances.
