OKX Launches Compound v3 (Arbitrum) USDC Earn Product
OKX
has
announced
the
launch
of
the
Compound
v3
(Arbitrum)
USDC
Earn
product
on
its
On-chain
Earn
platform,
starting
at
10:00
am
UTC
on
July
3,
2024.
This
initiative
aims
to
provide
users
with
seamless
on-chain
rewards,
according
to
OKX.
Introducing
Compound
v3
Compound
v3
is
an
Ethereum
Virtual
Machine
(EVM)
compatible
protocol
that
allows
users
to
supply
crypto
assets
as
collateral
to
borrow
the
base
asset.
Additionally,
users
can
earn
interest
by
supplying
the
base
asset
to
the
protocol.
Rewards
and
Distribution
Rules
-
Deposit
interest:
Users
can
earn
interest
by
depositing
USDC
into
the
protocol.
The
interest
is
disbursed
when
the
principal
is
redeemed. -
COMP
token
rewards:
COMP,
the
governance
token
of
the
Compound
protocol,
is
awarded
to
users
who
provide
liquidity.
These
rewards
are
distributed
to
the
user’s
funding
account
every
eight
days. -
ARB
token
rewards:
Starting
July
15,
the
first
phase
of
the
event
will
distribute
an
additional
100,000
ARB
tokens
as
rewards
through
the
OKX
Web3
Wallet.
These
rewards
will
be
distributed
daily
to
users’
funding
accounts.
On-chain
Earn
Highlights
How
to
Subscribe
On
browser:
Navigate
to
the ‘Grow’
section,
click
on ‘Earn’,
then
select
On-chain
Earn.
Search
for
USDC,
select
Compound
v3
(Arbitrum),
and
subscribe.
On
the
OKX
app:
Go
to ‘Grow’,
then ‘Earn’,
and
select
On-chain
Earn.
Search
for
COMP
v3,
then
USDC,
select
Compound
v3
(Arbitrum),
and
subscribe.
Disclaimer
-
Users
should
carefully
read
and
understand
the
mechanism
rules
for
each
project
before
subscribing.
These
rules
include,
but
are
not
limited
to,
the
minimum
redemption
amount,
interest
accrual
start
time,
reward
distribution
time,
principal
redemption
period,
and
expected
annualized
earnings. -
OKX
will
deduct
a
certain
percentage
of
fees
from
users.
For
detailed
fee
information,
please
refer
to
the
product
introduction
page. -
Except
for
project
launch
and
reward
distribution,
OKX
assumes
no
responsibility
for
disputes
over
any
agreement,
hacking
incidents,
project
fraud,
and
other
risks
that
may
result
in
asset
loss
for
the
subscribers.
According
to
OKX,
more
On-chain
Earn
products
will
be
launched
in
the
coming
weeks.
Image
source:
Shutterstock
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