OKX, a leading Web3 technology company, announced the integration of Compound v3 (Arbitrum) – ETH into its On-chain Earn platform. This latest update, effective from 13:00 UTC on July 15, 2024, marks a pivotal step in simplifying access to on-chain rewards. The initiative is part of OKX’s ongoing efforts to enhance user engagement by providing simplified, lucrative DeFi investment opportunities.
Compound v3, specifically running on the Arbitrum network, represents an evolution in providing users with more efficient and flexible ways to earn on their cryptocurrency holdings.
By eliminating subscription limits and streamlining operational steps, OKX aims to deliver a more user-friendly experience that directly connects with the real on-chain annualized earnings without the usual complexities involved in DeFi transactions.
Revolutionizing On-chain Earnings with New Incentives
Starting with the Ethereum-based offerings, from July 26 onwards, users engaging with Compound v3 (Arbitrum) – ETH will benefit from an additional 100,000 ARB rewards distributed through the OKX Web3 Wallet. This initiative is designed to further incentivize participation and enhance yields for its users.
Similarly, the USDC variant of Compound v3 will see a continuation of rewards from its first event phase into a second one starting July 30, allowing users to continue earning without needing to redeem and reinvest their funds.
The reward structure for participants is particularly attractive; it includes deposit rewards in ETH, periodic COMP token rewards every eight days, and daily ARB token distributions directly to users’ funding accounts.
To participate, users need to navigate to the On-chain Earn section of the OKX platform, select their preferred asset (ETH or USDC), and opt into Compound v3 (Arbitrum). This process has been designed to be as intuitive as possible, ensuring that even those new to the world of on-chain earnings can easily take part.