OKX has officially launched its CHZ On-Chain Earn product, enabling users to earn staking rewards directly on the Chiliz blockchain with a streamlined process. The product went live on June 20, 2024, at 21:00 (UTC+8) and offers a seamless way to participate in decentralized finance (DeFi) without complex technical hurdles.
Key Features of CHZ On-Chain Earn
- No Subscription Limit: Users can stake any amount of CHZ without restrictions.
- Simplified Process: The interface reduces on-chain complexities, making staking accessible even for beginners.
- Transparent Rewards: Real-time APY calculations ensure users maximize their earnings.
How to Participate
Web Platform:
- Navigate to Finance > Earn > On-Chain Earn.
- Search for CHZ and select the staking option.
Mobile App:
- Go to Finance > Earn > On-Chain Earn.
- Locate CHZ and confirm your stake.
Important Considerations
- Project Mechanics: Review CHZ’s PoS rules (e.g., redemption thresholds, reward distribution schedules) before staking.
- Fees: OKX charges a nominal service fee—details are available on the product page.
- Risk Disclosure: OKX facilitates rewards distribution but isn’t liable for smart contract failures, hacking incidents, or project abandonment.
FAQ
Q1: Is there a lock-up period for CHZ staking?
A1: Yes, redemption periods vary based on CHZ’s chain rules. Check the product page for specifics.
Q2: How often are rewards distributed?
A2: Rewards are distributed according to the Chiliz blockchain’s schedule—typically daily or weekly.
Q3: Can I unstake my CHZ anytime?
A3: Unstaking depends on CHZ’s protocol. Some tiers may impose waiting periods.
Q4: What’s the minimum staking amount?
A4: There’s no minimum, but smaller amounts may incur proportionally higher fees.
Q5: Are rewards compounded automatically?
A5: No, users must manually reinvest earnings to compound returns.
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