Web3 wallet is becoming more active, is OKX aiming to become the "aggressive decentralized player" in the trading platform?
Table of Contents:
· Multiple DeFi projects recently integrated with OKX Web3 wallet
· Positive feedback from product community
· CEX wallets are being launched one after another, will CeFi players go "decentralized"?
Multiple DeFi projects recently integrated with OKX Web3 wallet
On October 9th, the Lybra Finance stablecoin protocol for LSD was integrated into the OKX Web3 wallet. Users can now use the OKX Web3 wallet plugin to collateralize ETH, stETH, rETH, wstETH, and other stablecoins to mint eUSD stablecoins, earn LBR tokens, stake LBR, and share protocol revenue and LP rewards on Lybra.
On October 7th, ParaX integrated with OKX Web3 wallet. Users can perform various operations such as collateralized borrowing, staking, purchasing NFTs, and asset management on ParaX through the OKX Web3 wallet plugin.
On August 31st, Origin Dollar integrated with OKX Web3 wallet. Users can now use USDT, USDC, and DAI to mint or exchange OUSD on Origin Dollar through the OKX Web3 wallet. OUSD is pegged to the US dollar at a 1:1 ratio, and users can earn profits within the wallet.
On August 21st, on-chain derivative DEX Aark Digital integrated with OKX Web3 wallet. Users can now trade encrypted asset futures and provide liquidity on Aark Digital through the OKX Web3 wallet.
OKX CEO Hong Fang revealed in an interview the future development focus of OKX, including upgrading reserve proof technology such as zkSTARK, and adding more Web3 wallet features such as account abstraction. And besides embracing new technologies, in terms of user experience, OKX Web3 wallet is also at the forefront of the industry. Its "earn coins" product interface directly integrates most LSD and lending, LP and other protocols, without the need to use a browser to jump, making it convenient to use various mining and interest-bearing services. Users in the community have also expressed positive feedback on the usage experience of the OKX Web3 wallet. Against the backdrop of the bear market, OKX has provided its own answer on how to create a good wallet for a trading platform. And the OKX Web3 wallet has also become proof of OKX's innovation among a group of CEXs. A wallet is not only a tool for storing assets, but also an important entry point for Web3 users. The launch of self-hosted wallet products has become an important trend in the development of the cryptocurrency trading industry. Major trading platforms such as Coinbase, Binance, OKX, and Bitget, as core participants in the cryptocurrency field, have all launched their own cryptocurrency wallet products in recent years. After the 2022 FTX incident, the myth of CEX has been gradually questioned. The headline of the Financial Times reads: "The SBF trial is a reminder that crypto is a rotten business" (SBF's trial puts a question mark on cryptocurrency). The battle between CeFi and DeFi is an inevitable situation in the crypto world, and the launch of self-custody wallets by centralized exchanges is a result of CEX fully realizing their own advantages. Welcome to join the official BlockBeats community: Telegram Subscription Group: https://t.me/theblockbeats Telegram Discussion Group: https://t.me/BlockBeats_App Official Twitter Account: https://twitter.com/BlockBeatsAsia
On August 18th, StakeWise integrated with OKX Web3 wallet. Users can now stake ETH and receive rewards on StakeWise through the OKX Web3 wallet. Please note that the content within the tag should not be translated and should be preserved as is.
According to Dune data, the number of OKX DEX users has experienced explosive growth since April this year. The total number of daily user addresses on the Ethereum chain has increased from 12,205 at the beginning of the year to 28,383 in June, an increase of over 130%. In addition, the number of DEXs aggregated by OKX DEX has increased from 100+ to 300+, a growth of over 200%. The number of cross-chain bridges has increased from 3+ to 15+, and the number of supported public chains has increased from 10+ to 20+.Related reading: "Seven sets of data review OKX Web3 wallet in the first half of the year".
Related reading: "Tech-first, trust-next: OKX's roadmap for regaining consumer confidence"
"We have recently added Account Abstraction (AA) functionality. You know, if you ask me, is AA account really available now? This may not be for most people, but more for talking to special core crypto natives, but it is still part of the infrastructure we are building."
Product community feedback is positive
Trading platforms are launching Web3 wallets one after another, and CeFi is also exploring decentralization
Related reading: "Comparison of Four Centralized Trading Platform Wallets: Coinbase, Trust, OKX, Bitget Wallet"
"These four wallets under the exchanges, Coinbase Wallet and OKX Wallet were independently developed and launched by the exchanges, while Trust Wallet and Bitget Wallet were acquired by the exchanges. Among them, Bitget Wallet, formerly known as bitkeep, was founded in 2018 and had become the largest crypto wallet in Asia before being acquired. From the user's perspective, in addition to the most basic need for asset security, the one-stop convenient experience provided by the wallet is an important factor that attracts them. In addition, fine-tuned operations to meet diverse needs, and even special subsidies, are also important means for wallets to acquire users."
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