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

1. 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.

2. OKX
   will
   deduct
   a
   certain
   percentage
   of
   fees
   from
   users.
   For
   detailed
   fee
   information,
   please
   refer
   to
   the
   product
   introduction
   page.

3. 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