Introduction
Leading global cryptocurrency exchange OKX has proposed a groundbreaking extension to the Bitcoin network's BRC-20 token standard, introducing BRC-30 on June 1. This innovative standard integrates staking mechanisms into Bitcoin-based fungible tokens, expanding utility and participation within the ecosystem.
What Is BRC-30?
Key Features
- Ordinals Protocol Utilization: Like BRC-20, BRC-30 leverages Bitcoin’s smallest unit (1 satoshi) to attach arbitrary data, enabling fungible token creation.
- Staking Functionality: Users can stake Bitcoin or BRC-20 tokens to earn BRC-30 rewards, fostering greater engagement with existing assets.
- Ecosystem Growth: Designed to enhance liquidity and utility for BRC-20 tokens, which currently boast a $475M market cap (24,677 tokens in circulation as of June 2).
Technical Advancements
BRC-30’s staking model introduces yield-generating opportunities on Bitcoin’s inherently non-yielding network, a first for Ordinals-based tokens.
👉 Explore BRC-30 staking opportunities
OKX’s Role and Vision
Jason Lau, OKX’s Chief Innovation Officer, stated:
"Pioneering BRC-30 to enable staking for Bitcoin and BRC-20 tokens marks a milestone in Bitcoin’s evolution as a multifunctional blockchain."
OKX Wallet will be among the first to support BRC-30 tokens, ensuring seamless user adoption.
Market Context
Ordinals and Bitcoin NFTs
- Ordinals, launched in January 2023, underpins projects like Yuga Labs’ Bitcoin Punks and meme coins (e.g., Pepe).
- Growing Ecosystem: Over $660M in BRC-20 market cap reflects robust demand for Bitcoin-native assets.
👉 Learn more about Bitcoin’s token standards
FAQs
- How does BRC-30 differ from BRC-20?
BRC-30 adds staking capabilities, allowing users to earn rewards while holding BRC-20 tokens or Bitcoin. - Which wallets support BRC-30?
OKX Wallet will offer native support; other wallets may follow. - What’s the purpose of staking in BRC-30?
To incentivize long-term holding and increase utility for BRC-20 tokens. - Is BRC-30 live now?
The proposal was announced on June 1; implementation timelines depend on community adoption. - Can Ethereum NFTs bridge to BRC-30?
Not directly, but standards like BRC-721E enable cross-chain NFT compatibility.
Conclusion
BRC-30 represents a significant leap for Bitcoin’s utility, merging DeFi-like staking with its security model. As OKX spearheads adoption, the standard could redefine value accrual on the Bitcoin network.
Keywords:
- BRC-30
- Bitcoin staking
- OKX Wallet
- Ordinals protocol
- BRC-20 tokens
- Cryptocurrency standards
- Yield generation
- Fungible tokens