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OKEx Earn Supports Uniswap, Providing Major Passive Income Gateway

2020.09.21 OKEx Public Relations

Malta, Sept. 21, 2020 OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, announced that OKEx Earn integrated with the Uniswap protocol at 5:30 am UTC on Sept. 19, providing users with a huge passive income earning opportunity. From 4:00 am UTC on Sept. 20, the first time that all locked assets were sent to the Uniswap contract to start mining UNI, OKEx Earn will send users’ assets raised during the subscription period to Uniswap every day.

OKEx users can now stake and redeem at any time, with available pairs including ETH–USDT, ETH–USDC, ETH–DAI and ETH–WBTC. The UNI bonus will be distributed to users’ accounts daily, while the assets will be unlocked on the second day of the successful completion.

"The emergence of DeFi has largely narrowed the infrastructure gap between crypto finance and traditional finance. However, due to the high transaction costs and complex product systems, many users, especially retail traders, have been kept at bay. That’s why OKEx decided to upgrade our intuitive Earn product to support many DeFi projects and act as a massive passive income gateway," commented OKEx CEO Jay Hao, adding:

"Participating in DeFi projects through OKEx Earn will not only appeal to more users and draw more traffic to the exchange, but it will also help investors identify high-quality assets."

Simple operation is one of the most significant advantages of participating in DeFi projects through OKEx Earn. Users only need to follow three steps: deposit, purchase and redeem to complete the entire process of DeFi mining, receiving almost the same experience as depositing in a traditional bank, but with a significant difference in interest rates, which allow users to make a high passive income that's not possible in the current financial system.

Thanks to the global economic crisis caused by the coronavirus pandemic, interest rates on savings accounts are at a record low around the world. According to Investopedia's weekly rate research from Sept. 18, out of more than 200 banks and credit unions that offer nationwide savings accounts in the United States, the highest rate users can currently earn is just 1.10% — and this is 20 times the national average for savings accounts. Moreover, the national average APY of a three-month certificate of deposit is only 0.08%, while a five-year certificate of deposit is 0.39%.

In contrast, the interest rate provided by OKEx Earn integrated with Uniswap is astoundingly high. Among the four pairs currently available, the lowest APY was 35.53%, while the highest APY reached as much as 50.01%.

OKEx has launched a series of trading and wealth-management products for UNI, including spot trading, margin, swap, coin-margined perpetual swap and savings, carving out a path for a leading CEX to develop and grow together with the DeFi economy — a promising step forward for OKEx and the industry as a whole.

END

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact

Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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