Flash News: OKX Wallet Introduces STX Stacking

DUBAI, United Arab Emirates, June 10, 2023 (GLOBE NEWSWIRE) -- OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has issued updates for June 10, 2023.

OKX Wallet Enables STX Stacking

As of June 9, 2023, OKX Wallet users can now stack the Stacks (STX) token to earn yield in BTC directly from their OKX Wallets. Stackers of STX will get the BTC paid by miners as a stacking reward.

Stacking is an innovative mechanism that rewards STX token holders for participating in the Stacks blockchain’s consensus process, called Proof of Transfer (PoX). Stacks extends Bitcoin's functionality, expanding support to smart contracts, decentralized applications and Ordinals NFTs.

Stacks is an L2 on the Bitcoin network that is dedicated to improving the scalability and efficiency of the Bitcoin network.

For more information, please visit the OKX Support Center.

For further information, please contact:

[email protected]

About OKX

OKX is a world-leading technology company building the future of Web3. Known as the fastest and most reliable crypto trading platform for traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume.

OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

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, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Source: OKX

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