OKEx, a cryptocurrency spot and derivatives exchange, announced the launch of two decentralized applications — OKEx Swap and OKEx Farm.
According to the company’s press release published on 22 January, the dApps were launched on the open-source blockchain OKExChain. Alongside the launch of the dApps, OKEx also announced the opening of the OKT/USDT Farm Pool.
Users holding OKT tokens will now be able to stake OKT with USDT in Swap to earn OKT-USDT LP tokens. These tokens can be staked in the OKT-USDT Farm Pool, enabling users to mine new OKT and earn additional funds.
OKEx said the Swap and Farm dApps were able to launch after the exchange conducted extensive stability tests of the OKExChain mainnet. These tests generated tens of thousands of OKT block rewards, which users can unlock by mining OKT on-chain.
In addition to providing staking and mining rewards, OKT tokens will enable users to vote and send transaction-free payments to decentralized exchanges and other dApps built on the OKExChain network.
Jay Hao, the CEO of OKEx, said the phased launch of OKExChain was moving along at a “very encouraging pace.”
“We’re thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives and to see OKExChain expanding its utility,” he said in the press release.