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Members of the Orbs community are now able to stake ORBS tokens on the OKX platform after cryptocurrency exchanges have enabled this service.
OKX, one of the world’s leading cryptocurrency exchanges, has announced that it supports staking of ORBS tokens on its platform.
In a press release shared with Coinjournal, OKX said that ORBS token holders can now stake their assets on cryptocurrency exchanges. This latest development will increase the attractiveness of the token and the utility of the Orbs token.
OKX has been around for several years and processes over $2 billion in daily trading volume. The exchange also supports over 350 currencies and lists over 600 trading pairs on its platform. Additionally, OKX will help unlock support for native ecosystem development of supported coins.
OKX says it supports staking various cryptocurrencies on its platform. The exchange said users will be able to lock coins on the platform and earn rewards. OKX added that all supported currencies, including ORBS, are subject to their native APY and daily rate.
The crypto exchange says adding ORBS staking support is a positive development. An OKX user can stake his Orbs tokens directly through the exchange and start accumulating rewards.
Additionally, OKX said it will allow token holders to contribute to the security of the Orbs network from the convenience of their exchange accounts.
Orbs is a public, permissionless blockchain project and a Layer 3 venture, so it has a growing community. Developers can build their projects on the Orbs network and take advantage of its technical advantages.
The platform acts as a distributed execution layer between existing layer 1 and layer 2 chains and the application layer. By enhancing the functionality of EVM smart contracts, Orbs powers new use cases for DeFi, NFT, GameFi, and other emerging blockchain-based sectors.
Additionally, anyone can be part of the Proof of Stake consensus mechanism as long as they adhere to the consensus rules of the protocol.
According to OKX, ORBS staking opportunities are posted on their main staking webpage. He concluded that the cryptocurrency exchange shares the same goals and vision of his Orbs project as the developers and community, furthering the ecosystem forward.
