OKX, a globally recognized cryptocurrency exchange and innovative Web3 company, has expanded its On-Chain Earn product by integrating the DAI stablecoin. This strategic move aims to provide users with lucrative opportunities to earn rewards through Proof-of-Stake (PoS) staking and decentralized finance (DeFi) protocols while bypassing the often burdensome gas fees associated with these activities.
With the inclusion of the DAI stablecoin, OKX users can now engage in on-chain earning endeavors by staking as little as 1 DAI and enjoying daily interest accrual. The platform boasts an impressive annual appreciation rate (APR) of approximately 5%. The DAI holdings, along with the accrued interest, remain entirely redeemable at the user’s discretion, with the redeemed funds being swiftly deposited into their Funding account.
OKX Enhances DeFi Access
DAI, a stablecoin built on the Ethereum blockchain, is meticulously maintained and regulated by MakerDAO, a prominent decentralized autonomous organization in the cryptocurrency space. OKX’s integration of DAI opens up new avenues for its users to participate in PoS staking and DeFi protocols using this widely recognized stablecoin.
Crucially, OKX’s On-Chain Earn products are constructed upon a robust and secure infrastructure. Users can participate without fretting over service fees or commissions for engaging in PoS staking or DeFi protocols. To further safeguard users’ assets, OKX exclusively collaborates with verified third-party projects, upholding the highest standards of security and reliability.
The DAI stablecoin is unique in its design, characterized as a decentralized, non-partisan, collateral-backed cryptocurrency softly pegged to the United States Dollar. DAI finds its place in cryptocurrency wallets and within various platforms, enjoying support not only on Ethereum but also on other prominent blockchains. DAI’s accessibility is one of its strong suits. Users can generate DAI by depositing collateral assets into Maker Vaults within the Maker Protocol.
This mechanism injects DAI into circulation and grants users access to liquidity. Alternatively, individuals can obtain DAI by purchasing it from brokers or exchanges, or simply by receiving it as a form of payment. Once acquired, DAI functions similarly to any other cryptocurrency. Users can transfer it to others, utilize it for payments in exchange for goods and services, or even save it by engaging in a feature known as the Dai Savings Rate (DSR), an integral part of the Maker Protocol.
OKX, as a leading global cryptocurrency exchange and Web3 innovator, serves over 50 million users worldwide. Renowned for its speed and reliability, OKX offers traders a cutting-edge platform for cryptocurrency trading. Notably, OKX has established itself as a prominent partner of the English Premier League champions, Manchester City FC, McLaren Formula 1, Olympian Scotty James, and Formula 1 driver Daniel Ricciardo.
As the cryptocurrency space continues to evolve and expand, OKX’s strategic integration of DAI into its On-Chain Earn product underscores the exchange’s commitment to providing its global user base with innovative and accessible ways to engage with digital assets and decentralized finance. As the exchange continues to evolve and adapt to emerging trends, users can look forward to even more exciting developments on the horizon.
Sourced from cryptonews.net.
