By Hassan Mehmood (Saudi Arabia)
The cryptocurrency exchange OKEx is offering DAI Staking on its platform and has become the first crypto exchange to offer DAI staking.
The crypto platform will integrate the DAI Savings rate that will help users to earn interests simply by staking their holdings.
In a blog post published on 17th Dec, OKEx said that DAI users can earn interests of over 4% a year on staking their coins and can stake their coins by using its in-house mining pool known as “Pool”. In order to earn interest, users will have to deposit their coins directly and then stake in the DSR to earn the saving rate and reward.
According to the blog post:
On December 23, users of the OKEx platform will be able to directly deposit Dai and stake it in the DSR to earn the savings rate plus an additional reward that is exclusive to OKEx—all without leaving the OKEx platform.
The process of earning interest in DAI holding via DSR is set by Maker Governance. At the present time, the interest-earning ratio is 4% but the crypto exchange Okex aims to include more rewards for its users.
Also read:According to the post, the launch of DAI staking will take place on 23rd Dec. The crypto exchange has not set any value of maximum or minimum deposit and also there are no fees for using DSR.
The post further states that this integration by the OKEx crypto exchange will increase the adoption of DSR in the ASIA continent. It already has its foundation members in China, Korea, Japan, and Singapore. If more users will discover the advantages of DSR, then more exchanges will move ahead for integration. According to the post:
As more users benefit from the Dai stablecoin and discover the advantages of the DSR, more exchanges, platforms, and projects will integrate both, introducing new groups of users to the Maker Protocol and the DeFi ecosystem.
Also, the DSR offers users, start-ups, and businesses several benefits. The DSR is a game-changer for users and will prove a powerful tool for the whole Defi ecosystem.
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