- The new features on OKC include IBC transfers, OKC Swap and OKC bridge upgrades
- Users who hold ETHK on OKC will receive both ETHW and OKT via airdrop if a fork occurs as a result of the ETH Merge
VICTORIA, Seychelles, Sept. 13, 2022 (GLOBE NEWSWIRE) — OKC (OKX Chain), the programmable smart contracts platform backed by leading cryptocurrency platform OKX, has launched new features including IBC transfers and announced that OKC users stand to receive both airdropped ETHW and OKT following the ETH Merge.
OKC’s inclusion of the IBC protocol has opened a bridge between OKC and other public chains that support the IBC protocol. This allows users to transfer assets between OKC and other chains more efficiently.
OKC also partnered with Tether this year. OKC’s IBC interoperability and EVM compatibility allow users to enjoy the benefits offered by both the IBC (on Cosmos) and EVM (Ethereum) ecosystems.
The new feature also offers developers the opportunity to build with the IBC Relayer and participate in OKC supernodes to share node output.
Chaige Li, OKC Ecosystem Lead, said: “At OKC, we believe that cross-chain and multichain interoperability is the future of the blockchain. That is why our team is constantly working towards establishing better interoperability without compromising either scalability or security. Powerful new features like IBC allow us to take steps towards this, while also bringing us closer to our vision of a multichain network that delivers equal opportunity to all.”
In the crypto market, when large orders are placed for an asset with limited availability, there is an increased likelihood of price slippage. OKC Swap is an official DEX, backed by OKX, which delivers safe and stable swaps with reduced slippage.
OKC Bridge Upgrade
OKC is also launching a bridge upgrade that allows every user who bridges over 100 USD worth of any supported token to OKC to receive OKT in an airdrop.
Find out more about the above features here.
ETHK Holders to Receive ETHW
OKC will also support the new assets that may result from September’s Ethereum Merge. Users who already hold ETHK, which is the wrapped version of ETH on OKC, will receive an equivalent amount of ETHW automatically via airdrop if a fork occurs.
Users who import assets into the Web3 wallet before the Merge will also receive enough free OKT to pay for 10,000 transactions on OKC.
Find out more here.
For further information, please contact:
About OKX Chain
OKC (OKX Chain) is an EVM-compatible L1 built on Cosmos with a focus on true interoperability (IBC) and maximized performance. At high scalability, developers can build and scale with low gas fees. The OKC ecosystem and infrastructure, including the all-in-one multi-chain Web3 interface, enables a seamless experience for both developers and users.
Find out more about us on: https://okx.com/okc.
Anayah is a financial content writer and stock market analyst. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.