Tutorial on Liquid Staking OKT

OKX

OKC Token --

How do you liquid stake on OKC?

You may access the Yield OKT Liquid Staking to stake any number of OKT tokens on the protocol.

When OKT tokens are staked, you will receive a corresponding number of stOKT (staked OKT) tokens.

What is stOKT?

stOKT is a KIP20 token representing staked OKT.

Any staking rewards accumulated will be compounded automatically in the value of stOKT.

As it represents the initial number of OKTs staked, the number of stOKTs one would have received does not change over time, even with the accumulation of staking rewards.

The value of stOKT, however, changes over time, consisting of the accumulated rewards and initial staked OKTs.

A user will then be able to claim the initial staked OKT and compounded staking rewards by unstaking and claiming OKT through the protocol.

This also means that over time, the value of 1 stOKT will not be equivalent to 1 OKT.

In short, holding 1 stOKT is a representation of a share of the total staked and staking rewards pool of OKT.

stOKT contract address: 0x97b05e6c5026d5480c4b6576a8699866eb58003b

What can you do with stOKT?

Earn OKT staking rewards at ~40% APR
Earn swap fees by providing liquidity to OKC Swap (eg. OKT-stOKT pool)
stOKT will be supported by a variety of DeFi applications on OKC.

How does it work?

How to liquid stake OKT

Go to the Yield OKC Liquid Stake page: Here（It‘s recommended to operate on PC）
Connect your wallet and make sure you switch to the OKC network.
Enter the amount of OKT tokens you want to stake, click the stake button, and confirm the transaction in the wallet.
The OKC Liquid Staking protocol will send you the corresponding amount of stOKT based on the latest exchange ratio between OKT and stOKT.

How to unstake

Go to the Yield OKC Liquid Stake page: Here （It‘s recommended to operate on PC）
Enter the amount of stOKT tokens you want to unstake, click the [Unstake] button, and confirm the transaction in your wallet.
The OKC Liquid Staking protocol will burn the stOKT tokens once you redeem them and issue an NFTas a receipt for OKT tokens.
You need to hold the NFT receipt and wait for 14-28 days to then claim your OKTs.

How to claim OKT

After the waiting period, head to the Yield OKC Liquid Stake page: Here（It‘s recommended to operate on PC）
You could see Total claimable funds and Pending amount OKT amounts in the My investment.
Click the Claim button, and confirm the transaction in the wallet.
The OKC Liquid Staking protocol will burn the NFT receipt, and you will receive the corresponding amount of OKT tokens.