How do I use On-chain Earn?

Published on Aug 18, 2023Updated on Feb 11, 20264 min read67

What's On-chain Earn?

OKX On-chain Earn offers you two ways to earn rewards: Proof-of-Stake (PoS) staking and DeFi protocols. PoS staking involves holding and staking cryptocurrency tokens to secure the network and receive rewards in the form of newly minted tokens or transaction fees. DeFi protocols enable you to earn rewards by providing liquidity, participating in yield farming, and borrowing or lending cryptocurrency. This guide explores different methods, including mining, staking, liquidity mining, and lending, to help users earn passive income with cryptocurrencies.

How can I do staking?

On the app

  1. Open the OKX app, go to Explore, and select On-chain Earn (using ETH as an example)

    Opening On-chain Earn page

  2. Find the ETH banner and select Find out more to access the staking page

    Select Find out more on the On-chain Earn page

  3. Select Stake now to begin ETH staking

    Select Stake now to begin ETH staking

  4. Insert your amount in the Amount field. If you've got an insufficient amount, you can select Top up to deposit a sufficient token amount before continuing.

  5. Read through the schedule summary and select the checkbox to agree with the user agreement

  6. Select Confirm to complete the request

    Insert the subscription details to complete your order

On the web

  1. Log in to your account at okx.com and go to Grow > Earn > On-chain Earn

  2. Select Stake now to begin ETH staking

    Select Stake now to begin ETH staking

  3. Insert your amount in the ETH amount field. If you've got an insufficient amount, you can buy or deposit a sufficient ETH token amount before continuing.

  4. Select the checkbox to agree with the user agreement and Confirm to complete the request

    Insert the subscription details to complete your order

FAQ

1. What tokens are supported by On-Chain Earn?

You can visit the On-Chain Earn page to view the full list of supported tokens, including supported networks, minimum amounts, reward distribution frequency, and availability.

2. Are there any fees for using On-Chain Earn?

We charge a 5% service fee, which includes gas fees. The listed APR already takes this fee into account.

3. Why might borrowing USDT with staked assets in On-Chain Earn fail?

This is usually caused by simple configuration or account-related issues. Please check the following:

  • Network and asset compatibility:
    Please make sure the selected staking asset and withdrawal network are fully supported and correctly matched. Any mismatch may cause the transaction to fail.

  • Account status:

    • Sufficient collateral: Kindly ensure that you have enough of the required asset available for staking.

    • Sufficient fees: Please ensure that your account has enough available balance (e.g., platform tokens) to cover potential gas or transaction fees.

  • Feature settings:
    For certain crypto, staking may need to be manually enabled on the Assets page before borrowing can be processed.

  • Platform status:
    OKX may be undergoing temporary system maintenance, or your account may have certain functions temporarily restricted for security reasons. Please check official announcements or notifications.

After completing the checks above, most issues can be resolved. If the problem persists, please take screenshots and contact our customer support team for assistance.

Important Notes

OKX integrates with third-party DeFi projects and provides services such as project information display and reward distribution. OKX isn't responsible for any losses arising from smart contract vulnerabilities, security breaches, hacking incidents, or risks associated with third-party projects, including project discontinuation or changes by the project team.