Cryptocurrency exchange OKX has launched flexible staking for Shiba Inu (SHIB) and XRP.
Per a recent announcement, OKX users can stake SHIB and XRP to earn highly flexible staking rewards. It is worth noting that the flexible staking for SHIB and XRP started today at 3 am (UTC).
Introducing our new upgrade of #OKXEarn Gold Rush ? Staking with more flexibility!
Stake $SHIB @Shibtoken, $FIL @Filecoin, $DOGE @dogecoin, $LTC @LTCFoundation, and $XRP @Ripple with flexible staking deals now!
First-come, first-served basis ?
— OKX (@okx) December 8, 2022
Details of OKX Flexible Staking
Aside from SHIB and XRP, OKX also introduced flexible staking for other top crypto assets, including Dogecoin (DOGE), Filecoin (FIL), and Litecoin (LTC).
Notably, Shiba Inu holders can stake a minimum of 1 SHIB to earn an APY of 2.5%. Similarly, the flexible staking reward for XRP is also 2.5%, with users allowed to stake a minimum of 0.01 XRP.
Out of the five supported crypto assets added to OKX flexible staking, Dogecoin has the highest APY. According to the announcement, Dogecoin users are entitled to a staking reward of 10% APY when they stake a minimum of 0.01 DOGE.
“OKX Earn will launch flexible staking for SHIB, DOGE, LTC, FIL, and XRP on December 8, 2022, at 03:00 am UTC. Earn high rewards by staking SHIB, DOGE, LTC, FIL, and XRP with just a few clicks,” OKX said in a statement.
OKX Earn’s Gold Rush Bonus Promotion
Notably, OKX Earn is an initiative launched by OKX exchange to allow users to earn rewards on their crypto assets through diverse investment choices, including staking and loans. OKX Earn noted that the recently-launched flexible staking for XRP and SHIB is an upgrade of its Gold Rush Bonus promotion, which commenced in September.
Recall that in September, OKX Earn launched the first phase of its Gold Rush Bonus promotion. Following a Twitter poll and internal review results, the popular exchange launched a 90-day staking exercise for five crypto assets, such as SHIB, XRP, DOGE, FIL, and LTC. Staking for these tokens was done on a first-come, first-serve basis.
However, many users did not support the idea of waiting for 90 days before they could deposit and withdraw their assets. They called on the exchange to introduce flexible staking for digital currencies.
“To meet our users’ needs for more flexible deposit and withdrawal, OKX Earn is taking our Gold Rush Bonus promotion up a notch,” OKX said.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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