Cryptocurrency exchange OKX has unveiled the BRC-30 token, an extension of the BRC-20 protocol, introducing staking capabilities to enhance the versatility of Bitcoin-based assets. This upgrade aims to streamline token deployment, transfers, and staking within the Bitcoin ecosystem.
Understanding the BRC-30 Token Proposal
What Is BRC-30?
BRC-30 is OKX’s proposed upgrade to the BRC-20 token standard, adding functionalities like:
- Deposits and withdrawals
- Staking mechanisms
- Yield generation for token holders
Unlike BRC-20 (limited to token creation and transfers), BRC-30 enables users to stake BRC-20 tokens or Bitcoin to earn BRC-30 rewards, fostering long-term holding and reducing market sell pressure.
Key Features of BRC-30
Staking Pools:
- Projects create pools to issue BRC-30 tokens.
- Configurable parameters include staked assets, rewards, mining rates, and eligibility rules.
User Benefits:
- Stake BTC/BRC-20 tokens to accrue BRC-30 rewards.
- Perform deposits, withdrawals, and claim rewards via minting.
Transparent Calculations:
- OKX’s open-source tools ensure consistent profit calculations.
How to Use BRC-30 Tokens
Step-by-Step Guide
Project Setup:
- Launch a staking pool with defined terms (e.g., rewards duration).
User Participation:
- Stake assets → Earn BRC-30 → Claim rewards.
Yield Management:
- Monitor gains via OKX’s interface.
👉 Learn more about staking on OKX
FAQs
Q: How does BRC-30 differ from BRC-20?
A: BRC-30 adds staking/yield features, while BRC-20 only supports basic token functions.
Q: Can I stake Bitcoin directly?
A: Yes! BRC-30 supports BTC and BRC-20 token staking.
Q: Is BRC-30 live now?
A: Follow OKX’s official channels for rollout updates.
Final Notes
BRC-30 marks a significant leap for Bitcoin’s DeFi ecosystem. By enabling staking, OKX empowers holders to earn passive income while supporting network growth.