OKX Chain launches Liquid Staking with up to 40% APR

In cryptocurrency news related to OKX, the crypto exchange platform that powers OKC (OKX Chain), users can now access a new feature set to boost the chain’s DeFi activity.

This is after the EVM and inter-blockchain communication, or IBC-compatible chain OKX Chain announced it has rolled out its Liquid Staking protocol. According to the L1’s team, the launch is part of the network’s growth as it looks to bring more services to its fast-expanding DeFi ecosystem.

We are thrilled to launch #OKC Liquid Staking 💎

With Liquid Staking, you can access and deploy your $OKT in #DeFi while earning its 40% APR staking reward.

How can #OKT holders participate in this new liquid staking protocol and earn up to 40% APR?

🧵https://t.co/QWOVNWehZx

— OKT Chain ⚛🕸 (@OKCNetwork) December 20, 2022

A boost to the OKC ecosystem

A press release the company published on Tuesday noted that Liquid Staking will ensure better liquidity and offer OKC users an effective and flexible way to utilize the native token OKT. The feature will also give users a chance to earn impressive staking rewards on the token as they deploy it across multiple protocols.

Liquid Staking will also boost the OKC Chain’s total value locked, or TVL as the network expands its capabilities.

OKC users now have a chance to stake OKT and earn staking rewards of up to 40% APR, with other benefits including the ability to swap staked OKT (stOKT) on the OKX DEX.