OKX Introduces Proposal for BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

In order to earn BRC-30 tokens, OKX, a prominent Web3 company, has proposed a new, open-source BRC-30 protocol that allows staking of BRC-20 tokens and Bitcoin. All programmers can build on the protocol because it is open-source.

The protocol states that OKX Wallet will add support for the BRC-30 standard, allowing users to stake BRC-20 tokens or Bitcoin on Web3 Earn to generate passive revenue without engaging in active trading. This adds to the selection of carefully picked DeFi earning items that are already offered through the site.

The launch of BRC-30 and its staking capabilities is motivated by OKX’s desire to give users more ways to engage with the Bitcoin ecosystem and generate passive revenue.

“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 Chief Innovation Officer Jason Lau.

Since integrating the Lightning Network into its centralized exchange more than two years ago, OKX has been a steadfast advocate for Bitcoin. With the introduction of the Ordinals Marketplace and the ability to view and trade Bitcoin Ordinals, OKX Wallet is also the first multi-chain wallet to facilitate BRC-20 trading.