The Web3 expertise startup OKX introduced that it has joined forces with the Arbitrum Basis and Compound, a decentralized finance (DeFi) lending and borrowing protocol, to launch the Compound bonus marketing campaign.
The announcement mentioned that customers who work together with the Compound DeFi protocol can win a share of the 100,000 ARB prize pool between now and July fifteenth.
The aim of the ‘Compound Bonus’ marketing campaign is to encourage shoppers to make use of the OKX DeFi aggregator to deposit their property into the ‘Compound V3 USDC pool’ on the Arbitrum One chain.
ARB tokens might be earned by individuals who fulfill the eligibility necessities, on high of the Compound protocol’s base Annual Proportion Fee (APR). Along with rising consumer engagement, this twin reward scheme guarantees vital returns on funding.
Lenders have the chance to revenue from their Bitcoin holdings with using a compound protocol. Invested funds are held in “liquidity swimming pools,” that are sensible contracts that use an algorithm to switch rates of interest in response to adjustments in provide and demand.
The Ethereum Digital Machine (EVM) is suitable with the Compound’s V3 protocol, which permits customers to pledge cryptocurrency property as safety when borrowing the bottom asset. Accounts that present the protocol with the premise asset can even obtain curiosity. On Ethereum, Compound V3 is applied, utilizing USDC as the premise asset.
Additionally Learn: OKX Wallet Integrates with ChainGPT and AITECH
