OKX announced the introduction of BRC-30, an extended version of the BRC-20 token standard aiming to introduce a staking mechanism within the Bitcoin network specifically tailored for BRC-20 tokens or Bitcoin.
BRC-30 incorporates BRC-20 design principles while introducing functionalities for staking operations such as depositing, minting, and withdrawing. Users can stake their BRC-20 tokens or Bitcoin and receive BRC-30 tokens in return, as well as earn passive income.
According to OKX, the introduction of BRC-30 and its staking functionalities provide BRC-20 token holders with additional opportunities to engage with their digital assets and earn passive income. Staking incentivizes users to hold onto their assets, potentially reducing selling pressure on the market and contributing to a more stable token ecosystem.
