The wallet is the first stop to explore the Web3 world, a unified body of payment, transaction, and interaction, as well as a collection of identity, assets, and accounts. It is also a key driver for the large-scale application of Web3 technology. The wallet track is full of pioneers standing at the forefront and followers advancing together. They have upheld their faith over the long years, worked hard in the battlefield, continuously innovated through underlying technology, gradually iterated and strengthened infrastructure construction, and continuously expanded the boundaries of Web3 wallet applications.

As a veteran leading exchange with both technical strength and excellent product perception, OKX, launched its OKX Web3 wallet in 2021, bringing wallet product development to a whole new level through continuous self-breakthroughs and innovations. It greatly reduces the user's threshold for use while providing a one-stop full-process service. Its many pioneering features are leading the industry and are becoming the reference standard for the wallet track.

Ordinals Market - the first choice for BRC20 asset trading

The expected approval of Bitcoin spot ETF and the arrival of the halving cycle have given rise to a new outbreak of the Ordinals ecosystem, with BRC20 assets being widely sought after by the community. However, the unexpected popularity has exposed the shortcomings of the Bitcoin-related infrastructure, resulting in a gap between user demand and the supply of high-quality products in the short term. To bridge the gap in user demand and support the development of the Bitcoin ecosystem, OKX Web3 fully utilizes its technological and development advantages to promote the development of the Ordinals ecosystem infrastructure and lead the establishment of related standards in the Bitcoin industry.

At the end of May this year, OKX Web3 wallet fully launched the Ordinals market. With its smooth product experience, comprehensive functions, optimal liquidity, and zero transaction fees, it has received widespread praise upon its launch, becoming the first choice platform for entering the Bitcoin ecosystem. According to Dune data, the current Bitcoin Ordinals trading accounts for nearly 70% of the industry, ranking first.

The OKX Web3 wallet Ordinals market is completely decentralized, with interaction free of platform service fees. It is the industry's first multi-chain APP wallet that supports the Ordinals market. Users can easily participate in and navigate the Bitcoin ecosystem by transferring, trading, and engraving BRC-20 and BTC NFT assets in the Ordinals market.

Prioritized UTXO Management Function - Upgrading to Smart Release

Starting from April, the gradual launch of BRC20 has gradually brought the Ordinals ecosystem to a climax. The OKX Web3 wallet was the first to list the Ordinals market and, after opening the BTC NFT and BRC-20 trading functions, added other functions such as minting, and subsequently extended to innovative gameplay such as BRC20s. However, with the increasing appearance of Bitcoin engravings, the UTXO occupied by abandoned Ordinals engravings can cause some BTC balances to be unusable, preventing normal transfers or gas payments. Therefore, the OKX Web3 wallet promptly introduced the UTXO management function.

However, in the process of manually releasing UTXO occupation, there may be cases of accidental release of valuable UTXO due to user error. To prevent asset loss caused by user unfamiliarity with the UTXO release function, the OKX Web3 wallet will upgrade the UTXO management function to the UTXO smart release function. This function aims to help users automatically identify worthless NFTs (including expired BRC-20 and BRC20s engravings). If a user's UTXO only contains worthless NFTs, it will be automatically released without affecting the user's valuable NFT assets, making users more at ease when interacting in the Bitcoin ecosystem.

Seamless Multi-chain Switching - Making Trading as Simple as a CEX

In the vast Web3 world, there are numerous public chains, each with its own unique technologies, development directions, and ecosystems. In the process of interacting with different projects, users need to frequently switch between different public chains, and even need to add custom networks themselves. Simplifying the complex process and even allowing asset trading on different chains to be completed with minimal steps, similar to centralized trading platforms, has become one of the problems that wallets need to solve.

The value of OKX Web3 wallet's seamless multi-chain switching is mainly reflected in two aspects: on the one hand, when users transfer assets, they do not need to manually switch the chain on which the assets are held. They can directly click on the held assets on the asset management page to send and transfer assets on different chains. On the other hand, for the chains supported by the OKX Web3 wallet, users do not need to manually add the two chains that need to be crossed when conducting cross-chain transactions. They can directly select the asset pair they want to trade on the trading interface to conduct cross-chain transactions, which is very convenient.

In addition, the OKX Web3 wallet already supports 79+ public chain wallets, meeting the asset trading needs of the vast majority of users on various chains.

OKX AA Smart Contract Wallet - Simplifying Complexity for Accessibility

The birth of the AA wallet is aimed at addressing some of the challenges and limitations faced by private key wallets. With the AA smart contract wallet, users can interact with multiple contracts in a single transaction, providing convenience for novice users while meeting the multi-level needs of advanced users, creating a more user-friendly and intuitive wallet experience.

This year, OKX officially launched the AA smart contract wallet, which has been hailed by the industry as the "iPhone moment" for Web3 wallets. Its initial features support users in creating AA smart contract wallets on 7 popular public chains including Ethereum, Polygon, Arbitrum, Op, and Avalanche. Users can directly pay Gas with stablecoins USDT/USDC, complete multi-step interactions on-chain DEX, DeFi, and more with a single click, greatly enhancing the convenience of wallet usage.

Users who have mnemonic wallets, non-private key wallets, or hardware wallets on the OKX App can immediately experience the AA smart contract wallet. In comparison to private key wallets, in the future, the OKX AA smart contract wallet will also plan to launch more highlighted features such as social recovery, wallet mini-program components, and friend-assisted Gas payments to further reduce user thresholds and make it possible to bring 1 billion users into the Web3 industry.

Batch Wallet Creation - Achieving Distributed Storage of Assets

In Web3 interactions, it is necessary to authorize different projects, but there are risks associated with different interaction authorizations. Especially for niche projects, using independent wallet addresses is more secure. However, managing multiple wallet private keys brings management risks, seemingly creating an irreconcilable contradiction. To address this, the OKX Web3 wallet has introduced a feature to derive multiple account wallets from a mnemonic, supporting up to 100 wallets. This reduces the risk of user private key leakage and enables easy asset management.

This feature has also been welcomed by another group of users participating in project testing to receive airdrops. They use multiple accounts to interact with different projects to receive project airdrop rewards. The more participating addresses, the more rewards they receive. Derived wallets greatly increase the management costs for this group of users.

BONUS Interest Bonus - Increasing On-Chain Yield Scenarios

As the RWA track brings incremental funds from traditional finance and the emergence of innovative and native crypto protocols, it is reactivating the huge potential of the DeFi track. However, due to the cumbersome on-chain operation steps, high step-by-step costs, obscure new concepts, and unforeseen risk vulnerabilities, most users find it difficult to participate in high-quality DeFi projects. Even if they participate, they can only perform simple operations such as staking and swapping, and cannot fully understand and utilize its composability features, resulting in relatively low capital utilization.

To address many pain points for user participation in DeFi, OKX Web3 wallet has launched an all-in-one on-chain investment platform in the DeFi section. Through continuous product optimization and iteration, it has now aggregated a variety of investments from 10+ public chains, 60+ projects, and 200+ protocols, supporting users in one-click cross-coin investments, automatic yield calculations, and other convenient operations to help improve capital utilization and save on Gas fees, making DeFi investment extremely simple.

Furthermore, to enhance user yield scenarios, the OKX DeFi section has also exclusively launched the BONUS interest bonus, collaborating with high-quality projects to introduce various flexible gameplay options to help users earn multiple rewards. Through contract-level separation of principal and interest, it ensures the security of user funds.

Top-notch Intelligent Algorithm X Routing for Trade Aggregation - Automatically Finding the Best Trade Prices

Cryptocurrency swapping is the most frequent and commonly used on-chain function for users, but current DEXs have many pain points such as slow transaction speed, high transaction costs, and limited asset types. With the prosperous development of public chains, the demand for asset cross-chain transactions and exchanges has sharply increased, and many DEXs are facing issues with the number of supported public chains, liquidity, and security, making it difficult to better meet user needs. To help users conduct better on-chain asset exchanges and cross-chain transactions, OKX has pioneered the industry's most powerful DEX and cross-chain aggregator.

OKX DEX has recently completed a new algorithm upgrade, which will search and list all available cross-chain bridges, perform comprehensive calculations of various DEX quotes, network fees, slippage, etc. using its proprietary X-Routing algorithm, and rank them based on the price difference to provide users with the best trading path. At the same time, OKX DEX will provide users with personalized choices based on the three dimensions of comprehensive optimization, maximum quantity, and shortest time for all available cross-chain bridge trading paths.

The current OKX Web3 wallet has aggregated 20+ cross-chains, 20+ public chains, 300+ DEXs, providing users with the best prices, optimal liquidity, and zero transaction service fees, while also offering DEX market sections, limit orders, KYT security checks, and more. In addition, many mainstream protocols have actively integrated the OKX DEX API to provide their users with better trading liquidity and optimal quotes.

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