OKEx Crypto Exchange To Integrate DAI Savings Rate On The 23rd, Users Can Earn 4% By Staking

    The crypto exchange OKEx is about to become one of the major platforms integrating the Dai Savings Rate (DSR) and allowing stablecoin holders to earn a return of 4%.

    MakerDAO, which is the autonomous and decentralized organization that’s behind Dai, made an announcement on Tuesday, an announcement in which it says on December 23, OKEx is going to integrate the DSR for its users.

    OKEx Users to be Able to Directly Deposit Dai

    As soon as this will happen, OKEx users will be able to make direct Dai deposits and stake in the DSR in order to earn the 4% savings rate, plus another reward offered by the exchange. Someone from OKEx said the exchange is going to offer the 40% yearly yield to new users, in the December 17 – December 23 period:

    “Users can stake a minimum of 10 DAI or a maximum of 2,000 DAI during the 40% annualized yield bonus period. The maximum bonus would be 2,000 * 40% / 365 * 7 = 15.34 DAI.”

    Bonuses for Inviting New People

    More than this, OKEx users will also receive a bonus for inviting new users that register on the platform. Each user can invite 3 more people, receiving for each the 3 Dai bonus. This is how the spokesperson explained the system:

    “For example, user A invites new user B during the staking promotion period. After user B registered an account and holds a daily average of 1,000 DAI in his account, user A can get 3 DAI invitation bonus and user B can enjoy DSR 40% annualized yield for 7 days. If user B holds 2,000 DAI daily during the special bonus period, he can get 2,000 * 40% / 365 * 7 = 15.34 DAI bonus after the promotion period ends.”

    No Minimum or Maximum Deposit

    MakerDAO mentions there isn’t a maximum or minimum for deposits, nor there are any fees, when it comes to getting started with the DSR. After an executive vote last month, the company activated the DSR. In an announcement made on Tuesday, it said users from all over the world have more than 16 million Dai locked in the DSR contract, in only 3 weeks since the launch.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Gold Hits 7-Year High As Investors Jump into Safe Haven Assets But Bitcoin Not Following

    Coronavirus outbreak has the investors fearing a slowdown in global growth and piling into safe-haven assets like gold US dollar also rising while...

    Russia’s Central Bank And FSB Agree to Ban Cryptocurrency Payment Options

    A Russian local news source, recently reported that the country’s Central Bank and Federal Security Service (FSB) finally came to an agreement that cryptocurrencies...

    Binance CEO: We Aren’t “Operating” in Malta After MFSA Says Exchange Is “Not Authorized”

    Malta Financial Services Authority (MFSA) releases a statement stating “Binance is not authorized by the MFSA to operate” in the country Binance CEO...

    Virtual Game World Decentraland Launches On Ethereum, $100k In Hidden Prizes

    A virtual game that is developed on the Ethereum network has finally been launched to the public, the Block reports. The new game allows users...

    What’s Got Algorand's ALGO Jumping 26% And Still “Hot”

    Algorand flying, up 100% in 2020 so far, got fuel for another 100% run-up Binance.US announcing support for Algorand (ALGO) staking that went...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.