OKX founder Jason Lau has published a special article expressing his thoughts on the innovation in the token market and OKX’s determination to continue leading the token ecosystem infrastructure construction.
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OKX First to Launch ARC-20, SRC-20, Runes, and DRC-20 Standards
Full Article by OKX Founder Jason Lau:
OKX First to Launch ARC-20, SRC-20, Runes, and DRC-20 Standards
Following OKX Web3 Wallet’s initial support for the Oridinals protocol’s BRC-20 standard, its Ordinals market has developed into the largest BRC20 token and BTC NFT trading market. To further support the Bitcoin ecosystem construction with the community users, OKX will be the first to launch ARC-20, SRC-20, Runes, and DRC-20 standards in response to the broad attention and demand from users. In this regard, OKX founder Jason Lau has published the article “Unlocking the Innovation of OKX Tokens” to express his thoughts on the innovation in the token market and OKX’s determination to continue leading the token ecosystem infrastructure construction.
Full Article by OKX Founder Jason Lau:
Tokens were born at the beginning of 2023 when users started engraving text, images, and multimedia on the Bitcoin network. As the crypto community discovered the innovative use of tokens to create and trade new assets (such as NFTs and tokens), this innovation quickly became a phenomenon. Subsequently, many innovative token standards emerged, attracting a large number of community users’ interest and active participation.
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OKX is a strong supporter of the token ecosystem, enabling developers to launch tokens quickly and efficiently, and leading the industry’s development trends. Tokenization has made token issuance easier, paving the way for users to explore tokenization without having to build and launch separate protocols. The tokenization trend has exploded and spread from the Bitcoin network to other major public chains, starting with the initial Bitcoin BRC-20 protocol and even supporting tokens like Dogecoin. Because of this, we have been actively interacting with the community and focusing on building products to support token growth and the overall growth of encrypted assets in the wider Web3 ecosystem.
Our goal is to be at the forefront of token innovation. Today, I am pleased to share the major updates of OKX’s industry-leading token products.
In the coming weeks, OKX will further expand its suite to become the largest one-stop ecosystem in the Web3 industry by adding support for four leading token standards: Atomicals (ARC-20), Stamps (SRC-20), Runes, and Doginals (DRC-20). These standards will be used for minting, purchasing, selling, and trading tokens. Currently, OKX Web3 Wallet and market functionalities already support token exploration and engraving on 23 mainstream public chains, including Bitcoin, Polygon, and Ethereum networks, among others.
Among them, the OKX Web3 Wallet will first integrate Bitcoin’s Atomicals, Stamps, and Runes, as well as Dogecoin’s Doginals standard, allowing users to view and transfer tokens based on these standards. In the following weeks, the OKX NFT market will also integrate Doginals and Atomicals standards for users to transact these tokens.
Why is this important? Currently, tokenization is like a series of “islands” between different blockchain networks and standards, which poses a significant participation barrier for most users. OKX’s vision has always been to drive more user adoption through simple and user-friendly Web3 products. We have integrated numerous leading token standards in the industry, allowing users to seamlessly experience tokens, list them, purchase and sell them across multiple blockchain networks on the OKX Web3 Wallet, with zero transaction fees.
Additionally, we are utilizing OKX’s technology and innovative leadership to enhance and set new standards. The batch minting and automated error-checking features we have introduced further enhance the reliability and functionality of our products. Meanwhile, OKX’s token section and token tracking tools help users fully explore and delve into the growing ecosystem.
With the powerful new way of tokenization, users can interact and participate in cryptocurrencies better by storing data and artwork directly on the chain. OKX users will soon enjoy a new token experience by mining and participating in dozens of protocols. We can’t wait to hear the users’ feedback.
ARC-20
DRC-20
OKX
Runes
SRC-20
Further reading
OKX Wallet to Become the Largest Token Market! Integrating Atomicals, Stamps, Runes, and Doginals Token Standards and Market
Types of Bitcoin Ecosystem Assets Explained: Technical Differences Behind ARC-20, SRC-20, etc.