The cryptocurrency exchange OKX unveiled the BRC-30 standard. This extended version of BRC-20 introduces the staking mechanism for Bitcoin-based tokens.
According to the description, the solution will allow users to engage more with digital assets and earn passive income in BRC-30 tokens.
“Staking encourages users to hold their assets, potentially reducing selling pressure and contributing to a more stable ecosystem,” said OKX specialists.
With the introduction of BRC-30, holders of BRC-20 tokens and Bitcoin will be able to derive income not only from trading. The mechanism is set to broaden the number of participants in the ecosystem and strengthen holders’ connection to the underlying network, OKX said.
The exchange’s project team will issue the BRC-30 tokens, create the staking pool, and attract initial participants.
Users will be able to make deposits, withdraw funds at any time, and receive rewards.
OKX in mid-May announced a phased rollout of support for Ordinals and BRC-20 tokens in exchange wallets. However, the company noted that it is mindful of the volatility of the hype surrounding the assets.
Bitcoin Core developer Luke Dash Jr. «ban» BRC-20 tokens and Ordinals because of their negative impact on the network.