OKEx Is The First Crypto Exchange to Offer DAI Staking
Cryptocurrency exchange OKEx is set to become the first major platform to integrate the Dai Savings Rate (DSR). This will allow its users to earn interest of over 4% a year on their Dai holdings.
Per a blog post, Okex will on December 23rd add the Dai Savings Rate to its platform. OKEx’s users will only have to deposit the Dai stablecoin and stake via the “Pool” section to start earning the interest.
Interest earning via the DSR is determined by Maker Governance. It is at 4% now, but OKEx is set to add an exclusive additional reward for its “millions” of users. The post states that there are no minimum or maximum deposits needed to use the DSR, and there are also no fees involved.
MakerDAO persistently promotes that OKEx’s integration will help accelerate the DSR’s adoption in Asia, and potentially introduce many more people to Dai. The post goes thus:
“As more users benefit from the Dai stablecoin and discover the advantages of the DSR, more exchanges, platforms, and projects will integrate both, introducing new groups of users to the Maker Protocol and the DeFi ecosystem.”