1/ @OKX has introduced the BRC-30 token standard, an enhanced version of the BRC-20 proposal. BRC-30 is designed to bring staking functionalities like depositing, minting, and withdrawing to the Bitcoin ecosystem, expanding its capabilities.

2/ By adopting the BRC-30 standard, users can stake their BRC-20 tokens or Bitcoin, earning BRC-30 tokens in return. It extends the BRC-20 token functionality and incorporates a staking protocol, offering a new way to earn within the Bitcoin ecosystem.

3/ The central system of BRC-30 involves a staking pool and a server that manages the accounting for BRC-20 and BRC-30 tokens. This system ensures consistent computation of staking profits for users across all calculations.

4/ The OKX Wallet will be the first to incorporate the BRC-30 standard, offering rewards for users who lock up their Bitcoin or BRC-20 tokens. This feature brings staking opportunities to Bitcoin, allowing users to earn passive income.

5/ The BRC-30 standard was introduced by OKX to enhance user experience and create additional functionalities for BRC-20 token holders. It aims to foster a stronger connection between token holders and the underlying blockchain network.

6/ The staking mechanism offered by the BRC-30 standard encourages active participation from users. BRC-30 encourages engagement in the Bitcoin ecosystem by allowing users to stake tokens and earn returns.

7/ OKX's introduction of the BRC-30 standard signifies a major move in growing the Bitcoin ecosystem. The ability to stake Bitcoin or BRC-20 tokens and earn BRC-30 tokens in return could significantly extend Bitcoin's use cases and attract more users.

8/ BRC-20 tokens and Bitcoin Ordinals have seen immense success recently. They offer unique functionalities that have attracted significant interest, contributing to the overall diversification and development of the Bitcoin network.

9/ Over 10.4 million Ordinals have been inscribed on the Bitcoin network since its launch earlier this year. The market cap of BRC-20 tokens is now $311 million, demonstrating increasing interest..

10/ The BRC-30 standard reflects Bitcoin’s ongoing evolution. With its base expanding, it’s expected to see more applications, more user engagement, and a vibrant cryptocurrency community.

11/ That’s a wrap, thanks for reading! If you made it this far and found it useful: 1. Follow @0xAbhiP 2. Interact with this thread 3. Turn on post notifications. 4. Comment your thoughts on BRC-30.

@0xAbhiP Alpha 👑

@0xSKREAK Faxx!

@0xAbhiP Seems like ordinal staking isn’t that far away. But more important: when BRC-69? 🟧

@marcandrew45 I think a proposal must be coming sooon 🙃

@0xAbhiP Insightful thread my friend, though a bit buggy for my level😀 Still trying to wrap my head around BRC-20. $OXBT Mint by @BitGod21 and the @RedactedBTCNFT was my first exposure. But with the much education by the teams and folks like you is great, and an assurance that WAGMI!

@TheCrypto_Ark @BitGod21 @RedactedBTCNFT Thanks for the compliment! Would recommend to refer back to some of my old threads, could help you :)

@0xAbhiP Nice read @0xAbhiP . Thank man

@aadim_hod No worries, appreciate the kind words!

@0xAbhiP Innovative ways to sweep user’s Bitcoins

@plutowei Interesting perspective 😆