DeSyn defi protocol seamlessly integrated into OKX Wallet
The integration of DeSyn, a decentralized finance (defi) protocol powered by Ethereum (ETH), into the OKX Wallet allows users to generate synthetic assets and engage in decentralized asset management.
The OKX Wallet, which is a cryptocurrency wallet provided by OKX exchange, gives users access to more than 80 blockchains and incorporates MPC technology for easy wallet recovery.
DeSyn operates on the Ethereum blockchain and enables users to effortlessly create various synthetic assets and trade within genuine market dynamics. Through smart contracts, users can manage personalized pool-based portfolios that include a range of on-chain assets such as tokens, NFTs, and derivatives.
Furthermore, DeSyn offers asset management services that cover fundraising, investment, management, and withdrawal, effectively reducing the costs associated with creating, managing, and participating in these activities.
This integration enhances the capabilities of the OKX Wallet, providing users with more opportunities to participate in defi activities.
In August, the OKX Wallet introduced the Smart Account feature, which is powered by account abstraction technology and follows the ERC-437 Ethereum standard. This feature focuses on delivering heightened security, convenience, and interoperability for users.
Apart from security, the Smart Account simplifies complex actions like token swapping on decentralized exchanges (DEX), improving the overall user experience. Users can conveniently pay gas fees on any supported chains using stablecoins USDC and USDT, eliminating the need for each chain’s native token.
In November, OKX expanded its services by launching its crypto exchange and Web3 wallet platform in Brazil. This expansion aims to provide Brazilian users with a secure entry point into decentralized finance (DeFi) and cryptocurrency trading.
The platform enables fiat on-ramp capabilities with the Brazilian Real and incorporates the OKX Wallet, which serves as a secure self-custody portal for managing defi products, trading NFTs, and using decentralized apps (dApps).
To comply with the new regulations on cryptocurrency advertising in the U.K., OKX has implemented significant measures. The U.K. Financial Conduct Authority (FCA) recently introduced these regulations to ensure fairness, transparency, and cleanliness in crypto promotions.
As a result, OKX has streamlined its listed tokens in the region, reducing them from over a hundred to just 40. The exchange has prominently displayed a risk advisory banner on its webpage and established a dedicated OKX_UK channel on the social media platform X (formerly Twitter) for content dissemination, aligning with the U.K.’s regulatory mandates.
In October, the exchange announced the removal of more than 30 trading pairs that no longer meet its listing criteria. This action is part of OKX’s ongoing initiative to maintain a resilient user trading environment. Notable projects affected include AVAX-ETH, BAT-BTC, and HEGIC-USDT.
These adjustments demonstrate OKX’s commitment to ensuring a high-quality trading environment and complying with the new financial promotions rules in the U.K.
While some exchanges have chosen to withdraw services from the U.K. due to these regulations, OKX remains steadfast in providing crypto services to U.K. users and actively seeks to enhance its products and services for an improved overall experience.
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