OKX has expanded its On-chain Earn offerings with the addition of CFX and RON, providing users with new opportunities to generate passive income through staking. This update enables seamless participation in on-chain rewards starting from January 18, 2024.
Key Features of On-chain Earn
On-chain Earn stands out for its user-friendly approach to staking and earning rewards directly on the blockchain. Here’s what makes it appealing:
- No Subscription Limits: There are no maximum caps on how much you can stake, allowing for flexible participation.
- Streamlined User Experience: The subscription process is straightforward, minimizing complexity and technical barriers.
- Real On-chain Yields: Earn genuine annualized returns directly from the blockchain network's staking mechanisms.
How to Stake CFX and RON
Getting started with staking CFX or RON on On-chain Earn is a simple process across both web and mobile platforms.
On Web Browser
- Navigate to the On-chain Earn platform.
- Use the search function to find either CFX or RON.
- Select your desired asset and click 'Subscribe' to begin staking.
On the OKX Mobile App
- Open the app and tap on the 'Grow' section.
- Select 'Earn' from the available options.
- Choose 'On-chain Earn', search for CFX or RON, and proceed with the subscription.
👉 Explore staking opportunities and get started
Important Considerations Before Staking
While On-chain Earn simplifies the process, it is crucial to be an informed participant. Understanding the specific rules of each project is essential.
- Project Mechanisms Vary: Different Proof of Stake (PoS) blockchains have unique rules concerning redemption minimums, when interest begins to accrue, and how rewards are distributed.
- Fee Structure: OKX charges a percentage-based fee on earnings. The exact details are always available on the product page for full transparency.
- Acknowledgment of Risk: Users must recognize that inherent risks exist in blockchain projects, including smart contract vulnerabilities, project failure, or market fluctuations. OKX is not liable for losses stemming from these risks outside of managing the initial staking and reward distribution.
We appreciate your support and are committed to continuously expanding the range of On-chain Earn products. More exciting additions are planned for the coming weeks.
Frequently Asked Questions
What is On-chain Earn?
On-chain Earn is a staking service that allows you to earn rewards by participating in the proof-of-stake mechanisms of various blockchain networks directly through your OKX account. It provides a simplified interface for a technically complex process.
How are the annualized yields calculated?
The displayed annualized yield is an estimated percentage based on the current rewards being generated by the network's staking protocol. It is a real-time figure that reflects the actual earnings on the blockchain, though it is subject to change based on network conditions.
When do I start earning rewards after subscribing?
The exact time when rewards begin accruing depends entirely on the specific rules of the blockchain project you are staking. It is critical to review the product details page for the asset you choose to understand its unique timeline.
Is there a lock-up period for my staked assets?
Lock-up periods and redemption conditions differ from project to project. Some may require a mandatory unbonding period when you decide to unstake. Always check the individual project's rules on the subscription page before committing your assets.
What happens if the project I staked with has an issue?
On-chain Earn facilitates staking but is not responsible for losses due to project failure, hacking, fraud, or smart contract bugs. It is important to only stake assets in projects you have researched and understand the risks involved.
Are there any geographical restrictions for using On-chain Earn?
Availability of certain products may be subject to local laws and regulations. Users should ensure that using such services is compliant with the rules in their country or region of residence.