The company blog says that after the implementation of the BRC-30 standard, users will be able to use BRC-20 and BTC tokens for staking. As a reward for staking, users will receive tokens of the BRC-30 standard:
“BRC-30 tokens are an extension of the functionality of BRC-20 tokens with an added description of the staking protocol. BRC-20 holders can use their digital assets to generate passive income. They do not need to be sold, but it will be possible to actively participate in the Bitcoin network and increase the potential value of their tokens.”
OKX representatives assure that staking will be able to encourage BRC-20 holders to hold assets and earn on them. That is, the pressure of sellers in the market will be reduced, and the ecosystem of tokens based on the network of the first cryptocurrency will be more stable.
“The staking mechanism introduces a new dimension to the BRC-20 token ecosystem. It should promote greater user participation and a closer connection between token holders and the blockchain itself,” argue the creators of the standard.
It was recently reported that the number of NFTs based on Bitcoin Ordinals and BRC-20 tokens in the Bitcoin network exceeded 10 million. More than 200,000 tokens are issued daily.
Source: Bits
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