SAN FRANCISCO, June 12, 2023 (GLOBE NEWSWIRE) -- OKX, the second-largest crypto platform by trading volume and a leading Web3 technology company, has issued updates for the day of June 12, 2023.
OKX Web3 Earn Offers Gas Fee Rebates for ETH Staking and Redemption on Lido Protocol for Limited Time
OKX is proud to announce that it now fully supports ETH staking and redemption from Lido, a liquid staking protocol, on its DeFi aggregator Web3 Earn. To celebrate, OKX Web3 Earn will cover gas fees for ETH staking and redemption during a limited time period, from June 12 at 08:00 (UTC) to July 3 at 03:59 (UTC).
During the promotion period, users who deposit or redeem funds from Lido will receive USD$20 worth of ETH in gas fee rebates deposited to their OKX Wallet addresses while the USD$10,000 reward pool lasts. Gas fees will be distributed on a first-come, first-served basis. For further details, click here.
To participate in the OKX Wallet x Lido Gas Subsidy campaign, users simply need to:
- Download the latest version of the OKX app
- Create an OKX Wallet
- Visit OKX Web3 Earn
- Deposit or redeem ETH from the Lido Protocol via Web3 Earn
With the launch of Lido V2 on the Ethereum mainnet on May 15, 2023, users can now exchange staked ETH (stETH) for ETH at any time and receive funds in their account balance in just one or two days. Previously, users were only able to stake ETH and receive stETH in return via Lido V1. By holding stETH, users are able to receive staking rewards that are updated daily to their stETH balance via their OKX Wallet.
Lido V2 introduces two major capabilities, with the most user-facing aspect being Ethereum withdrawals. This allows those who stake Ethereum with Lido to directly unstake ETH through the protocol. Lido V2 also features a staking router, which allows for the development of on-ramps for new node operations, ranging from solo stakers to Decentralized Autonomous Organizations (DAOs) and Disstributed Validator Technology (DVT) clusters. Further details on Lido V2 can be found here.
For more information, please visit the Support Center.
For further information, please contact:
Media@okx.com
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX.
OKX partners with a number of the world's top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. OKX IS NOT ASSOCIATED WITH ANY PARTICULAR DEFI PROTOCOL, MAKES NO WARRANTIES, REPRESENTATIONS OR UNDERTAKINGS RELATING TO ANY DEFI PROTOCOL’S OFFERINGS, AND IS NOT RESPONSIBLE OR LIABLE FOR ANY DIRECT OR INDIRECT LOSS OR OTHER DAMAGE ARISING FROM YOUR USE OF ANY DEFI PROTOCOL. OKX WALLET IS AN AGGREGATOR; ALL DISPLAYED ESTIMATED RETURN RATES ARE PROVIDED BY THE DEFI PROTOCOL, AND ARE NOT GUARANTEED NOR INDICATIVE OF FUTURE RETURNS. PLEASE CONDUCT YOUR OWN DUE DILIGENCE BEFORE INVESTING IN ANY DEFI PROTOCOL. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
