OKX has introduced its Compound v3 (Arbitrum) USDC Earn product, enabling users to earn on-chain rewards starting July 3, 2024. This initiative aligns with OKX’s mission to provide seamless decentralized finance (DeFi) opportunities through its chain-on Earn platform.
Overview of Compound v3
Compound v3 is an Ethereum Virtual Machine (EVM)-compatible protocol designed for:
- Collateralized borrowing: Users can deposit crypto assets as collateral to borrow underlying assets.
- Yield generation: By supplying assets like USDC, users earn interest automatically.
👉 Discover how Compound v3 maximizes your DeFi returns
Reward Structure
1. Deposit Interest
- Earn variable APY by depositing USDC.
- Interest accrues continuously and is paid upon redemption.
2. COMP Token Incentives
- Governance rewards: Liquidity providers receive COMP tokens (distributed every 8 days).
- Rewards are auto-credited to user accounts.
3. ARB Token Airdrop (Phase 1)
- From July 15, OKX Web3 Wallet users receive 100,000 ARB tokens as bonus rewards.
- Daily distributions via user funds.
Key Features of Chain-on Earn
✅ No subscription limits
✅ Simplified onboarding for beginners
✅ Transparent APY with real-time tracking
How to Participate
Via Web Browser:
- Navigate to Grow → Earn → Chain-on Earn.
- Search USDC, select Compound v3 (Arbitrum), and subscribe.
Via OKX App:
- Open Grow → Tap Earn.
- Choose Chain-on Earn, search COMP v3, then select USDC.
👉 Start earning with Compound v3 today
FAQs
Q: What’s the minimum deposit for USDC Earn?
A: No minimum—deposit any amount.
Q: How often are COMP rewards distributed?
A: Every 8 days, directly to your account.
Q: Are there fees?
A: OKX charges a nominal fee; details are on the product page.
Risk Disclaimer
- Users must review project rules (e.g., redemption periods, APY variability).
- OKX isn’t liable for protocol hacks, fraud, or disputes.
More chain-on Earn products are coming soon. Stay tuned!
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