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Cryptocurrency staking is a low-risk and accessible way of making money through existing crypto assets in one’s portfolio. Popular exchanges support staking such assets to give users more options for growing their portfolios. For example, OKX has enabled staking for the $ORBS token, giving Orbs users another way of supporting the network.
Having the support of prominent exchanges for staking crypto assets is a substantial development. Platforms like Binance, Kraken, and OKX all let users stake supported assets. That approach serves multiple purposes, as it lets users earn passive rewards daily and gives them a chance to support the network. In addition, proof-of-stake networks rely on stakers to verify transactions and provide overall network security.
For the Orbs network, having the support of the OKX exchange is a big deal. OKX is one of the world’s top cryptocurrency exchanges, with over $2 billion in daily trading volume. Moreover, it is one of the leading platforms to let users stake PoS currencies and support the network they invested in. Adding $ORBS to that list of supported currencies elevates the appeal of the Layer-3 network.
Moreover, the staking of $ORBS tokens is listed on the OKX main staking webpage, bringing more attention to this new addition.
Orbs Continues To Grow
Orbs is an open and decentralized public blockchain infrastructure that operates as a separate execution layer between L1 and L2 solutions and the application layer. However, it does not move liquidity onto a new chain, making it an easy solution for developers to integrate. In essence, Orbs is a decentralized backend that enhances the native capabilities of smart contracts and grows the spectrum of use cases across Web3, DeFi, NFTs, and GameFi.
Several networks and protocols have integrated Orbs’ technology in recent years. Revault Network is the latest project to do so. Moreover, Orbs is EVM-compatible and supports Ethereum, BNB Chain, Solana, Avalanche, and other networks. Furthermore, it is compatible with all decentralized applications built on these networks and future applications.
Having the support of OKX as a reputable player elevates the appeal of the Orbs network. Moreover, it creates an opportunity for new stakeholders to contribute to the network and play a more active role in the Orbs ecosystem.