Compound v3 (Ethereum) - USDC On-chain Earn product & event launch announcement
OKX will offer Compound v3 on Ethereum in On-chain Earn, starting from 11:00 am UTC on October 21, 2024. This new offering gives users a chance to experience hassle-free on-chain rewards and earn additional rewards for the first three weeks.
General rules on rewards and distribution
- USDC rewards: Users earn USDC rewards by depositing USDC into the Compound v3 protocol (Ethereum) using On-chain Earn. Rewards will be distributed when users redeem their principal.
- COMP rewards: Users earn COMP rewards by depositing USDC into the Compound v3 protocol (Ethereum) using On-chain Earn. Rewards will be distributed to users' accounts every day.
Additional Compound v3 rewards
Starting from 3 am UTC on October 22, 2024, USDC subscriptions in On-chain Earn Compound v3 (Ethereum) will earn extra rewards. The total rewards available are:
- Week 1 439.65 COMP
- Week 2 10,000 USDC
- Week 3 10,000 USDC
The total rewards pool is shared by On-chain Earn and OKX Wallet. For each day during the first three weeks, the total rewards will be distributed based on the proportion of each user's deposit to the total pool of deposits in Compound v3 (Ethereum).
On-chain Earn highlights
- No subscription limits
- Simplified and transparent subscription process
- Annualised rewards from on-chain protocol
How to subscribe?
- In On-chain Earn, search USDC
- Select Compound v3 (Ethereum)
Disclaimer
- Regarding On-chain Earn products, as the Defi mechanisms for different projects may vary, it's important to carefully read and understand the mechanism rules for each project before subscribing. These rules include, but aren't limited to the lock up mechanis and period, minimum redemption amount, rewards accrual start time, reward distribution time, principal redemption period, and expected annualized earnings.
- OKX will charge a certain percentage of fees from users. For detailed fee information, please refer to the product introduction page.
- OKX assumes no responsibility for disputes over any hacking incidents, project fraud, and other risks that may result in asset loss for the subscribers.
Thank you for your continued support. We'll be launching more On-chain Earn products in the coming weeks. Stay tuned for more information.
OKX team
October 21, 2024