Earn passive income with OKX's new Compound v3 (Arbitrum) USDC Earn Product! Start making money now! 💰🚀

OKX Launches Compound v3 USDC Earn Product

OKX has recently introduced the Compound v3 (Arbitrum) USDC Earn product on its On-chain Earn platform, giving users the opportunity to earn rewards seamlessly on-chain. The launch is scheduled for 10:00 am UTC on July 3, 2024. Here are the key details you need to know about this new offering:

Introduction to Compound v3

Compound v3 is a protocol compatible with the Ethereum Virtual Machine (EVM) that enables users to supply crypto assets as collateral to borrow the base asset. In addition, users can earn interest by supplying the base asset to the protocol.

Rewards and Distribution Guidelines

Deposit interest: Users can earn interest by depositing USDC into the protocol. The interest is paid out when the principal is redeemed.
COMP token rewards: Users who provide liquidity receive COMP, the governance token of the Compound protocol. These rewards are distributed to the user’s funding account every eight days.
ARB token rewards: From July 15, the first phase of the initiative will distribute an additional 100,000 ARB tokens as rewards via the OKX Web3 Wallet. These rewards will be delivered daily to users’ funding accounts.

Highlights of On-chain Earn

How to Participate

On browser: Visit the ‘Grow’ section, click on ‘Earn’, then select On-chain Earn. Look for USDC, choose Compound v3 (Arbitrum), and subscribe to participate.

On the OKX app: Head to ‘Grow’, then ‘Earn’, and select On-chain Earn. Search for COMP v3, then USDC, choose Compound v3 (Arbitrum), and subscribe to start earning rewards.

Important Considerations

Users must carefully review and understand the rules of each project before participating, including details such as minimum redemption amount, interest accrual start time, reward distribution schedule, principal redemption period, and expected annualized earnings.
OKX will deduct a percentage of fees from users. For specific fee information, refer to the product introduction page.
While OKX will oversee the project launch and reward distribution, the platform does not take responsibility for disputes related to agreements, hacking incidents, project fraud, or other risks that may lead to asset loss for participants.

OKX plans to roll out more On-chain Earn products in the near future, providing users with additional opportunities to earn rewards through the platform.

Hot Take: Get Ready to Earn with Compound v3!

Don’t miss out on the chance to earn rewards with the new Compound v3 (Arbitrum) USDC Earn product on OKX’s On-chain Earn platform. Stay informed about the latest developments in the cryptocurrency space and seize the opportunities to grow your assets.