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Global cryptocurrency exchange OKX has announced the launch of OKSOL, a Solana liquid staking token, on December 11, 2024.
OKX Launches New Solana Liquid Staking Token OKSOL
This move aims to increase asset utilization while providing staking rewards to users.
OKSOL’s Basic Features
- Dual Functionality
Staking Rewards: Users who stake SOL on OKX receive OKSOL at a 1:1 ratio, enjoy staking and MEV (Maximum Extractable Value) rewards while maintaining liquidity.
Asset Usage: OKSOL can be bought and sold, used as collateral or redeemed, providing flexibility for participants.
- Stability and Security
Designed with asset security as a priority, OKSOL reduces the risks typically associated with smart contracts.
- Refund Options
Standard Refund: Approximately 4 days.
Spot Trading: Real-time liquidity for instant access to funds.
Future Enhancements: A quick redemption feature is planned for added convenience.
- Capital Efficiency
OKSOL can be used as leverage in lending and collateral scenarios, optimizing users’ capital. OKX also plans to incorporate OKSOL into structured products for further use.
Purchase and Sale Details
Two spot trading pairs will be available: OKSOL/USDT and OKSOL/SOL.
*This is not investment advice.
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