The OKX exchange debuted staking SHIB with an annual percentage return of 12%, the highest for Shiba Inu among other centralized cryptocurrency exchanges.
Tomorrow, according to the exchange’s press release, deposits will be available. The entire SHIB blocking time will be 90 days, with a subscription restriction of 40 million SHIB per account. The total amount of stakes is 1,2 quadrillion SHIB.
In addition to this promotion, the exchange also allows the staking of popular cryptocurrencies like DOGE and XRP, but at a considerably lesser rate than Shiba Inu. The yearly yield rate for these tokens is merely 5%.
It is vital to emphasize that OKX does not support BEP2 or BEP20 coins on the BNB Chain network. There are claims that the lack of Binance initiatives might be explained by the fact that the founder of Binance, Changpeng Zhao, formerly worked for OKX and then departed to launch his own project, taking with him a portion of the OKX staff.
OKX has recently rebranded and has become a sponsor of Manchester City, one of the top soccer teams in the English Premier League. Pep Guardiola, one of the most renowned managers in the history of the game, participated in the exchange’s advertising campaign.
The current value of the 40 million SHIB accessible for betting per user is just $400. However, the exchange does not need KYC for the deposit of tokens to a staking pool, which may allow for the expansion of the limit in known methods.