We are thrilled to launch #OKC Liquid Staking 💎 With Liquid Staking, you can access and deploy your $OKT in #DeFi while earning its 40% APR staking reward. How can #OKT holders participate in this new liquid staking protocol and earn up to 40% APR? 🧵 bit.ly/3YEvEp8
1) Liquid staking does not equal staking. Staking is locking your tokens for a fixed or variable period, while requiring a high min. amount of tokens to qualify for staking rewards. Hence, the staked tokens are locked-up and can't be efficiently utilized across #DeFi & more.
2) Liquid staking frees staked $OKT from long lockup periods, by allowing users to delegate to their validator node, earn staking rewards & in return. Once you deposit your $OKT into #OKC Liquid Staking protocol, you'll receive $stOKT - a KIP20 token that represents staked $OKT.
3) $stOKT $stOKT is a KIP20 token representing staked $OKT. Any staking rewards accumulated will be compounded automatically in the value of $stOKT. The value of $stOKT changes over time, consisting of the accumulated rewards and initial staked $OKT.
4) $stOKT allows you to: a) earn staking rewards of up to 40% APR b) earn tx fees by providing liquidity to #OKCSwap pools, e.g. $OKT- $stOKT pool