OKX has introduced its latest Compound v3 (Arbitrum) USDC Earn product, enabling users to earn on-chain rewards starting July 3, 2024. This initiative is part of OKX’s commitment to providing seamless decentralized finance (DeFi) opportunities.
Understanding Compound v3
Compound v3 is an Ethereum Virtual Machine (EVM)-compatible protocol that allows users to:
- Deposit crypto assets as collateral to borrow underlying assets.
- Earn interest by supplying assets to the protocol.
Key features include:
✔ Enhanced capital efficiency
✔ Isolated collateral markets for risk management
✔ Lower liquidation risks compared to earlier versions
Rewards & Distribution Mechanics
1. Deposit Interest (USDC)
- Users earn variable interest by depositing USDC.
- Interest accrues continuously and is paid upon redemption.
2. COMP Token Incentives
- COMP, Compound’s governance token, rewards liquidity providers.
- Distributed every 8 days to users’ fund accounts.
3. ARB Token Rewards (Phase 1)
- Starting July 15, OKX Web3 Wallet users receive an additional 100,000 ARB tokens.
- Rewards are allocated daily to eligible participants.
Why Choose OKX’s On-Chain Earn?
✅ No Subscription Limits – Flexible participation for all users.
✅ Simplified Workflow – Intuitive steps for effortless onboarding.
✅ Transparent APY – Real-time tracking of annualized yields.
👉 Explore high-yield opportunities with OKX Earn
How to Subscribe
Via Web Browser:
- Navigate to Grow → Earn → On-Chain Earn.
- Search for USDC, select Compound v3 (Arbitrum), and subscribe.
On OKX App:
- Go to Grow → Earn → On-Chain Earn.
- Search COMP v3, then USDC, and choose Compound v3 (Arbitrum) to subscribe.
Important Disclaimers
⚠️ User Responsibility:
- Review project rules (e.g., minimum redemption amounts, interest accrual periods).
- Understand fee structures (OKX deducts a percentage; details are on the product page).
⚠️ Risk Awareness:
- OKX is not liable for protocol disputes, hacks, or project fraud.
- DeFi involves market volatility – invest cautiously.
FAQs
1. What is the minimum deposit for Compound v3 Earn?
There’s no minimum, but gas fees on Arbitrum may apply.
2. How often are COMP rewards distributed?
Every 8 days, automatically credited to your fund account.
3. Can I withdraw my USDC anytime?
Yes, but check the protocol’s redemption cycle for timing.
4. Are ARB rewards available to all users?
Only for participants using OKX Web3 Wallet during Phase 1 (from July 15).
5. Is Compound v3 safer than v2?
V3 introduces isolated markets, reducing systemic risk.
👉 Maximize your crypto earnings with OKX’s DeFi solutions
OKX plans to launch additional on-chain Earn products in the coming weeks. Stay tuned for updates!