Compound v3 (Arbitrum) - USDC Earn Product & Event phase 1 launch announcement

OKX will offer Compound v3 (Arbitrum) - USDC on On-chain Earn, starting from 10:00 am UTC on July 3rd, 2024. This will allow users to experience on-chain rewards without any hassle.

What's Compound v3?

Compound v3 is an EVM compatible protocol that enables supplying of crypto assets as collateral in order to borrow the base asset. Accounts can also earn interest by supplying the base asset to the protocol.

Rewards and distribution rules

• Deposit interest: Users earn interest by depositing the base asset USDC into the protocol. The interest will be disbursed when the user redeems the principal.

• COMP token rewards: COMP is the governance token of the Compound protocol. By providing liquidity, users can earn COMP rewards in addition to interest. These rewards are distributed to the user's funding account every 7 days.

• ARB token rewards: As of July 15th, the first phase of the event will share an additional 100,000 ARB in rewards with OKX Web3 Wallet. Rewards will be distributed daily to users' funding accounts.

On-chain Earn highlights:

• No subscription limits

• Simplified operational steps, resulting in a more fluid user experience

• Real on-chain annualized earnings

To subscribe COMP v3 on On-chain Earn, follow the instructions below:

On browser: Navigation bar > Grow > Earn > On-chain Earn, search USDC and select Compound v3 (Arbitrum) and subscribe

On the OKX app: Grow > Earn > On-chain Earn, search COMP v3 and search USDC and select Compound v3 (Arbitrum) and subscribe

Disclaimer

1. 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 minimum redemption amount, interest accrual start time, reward distribution time, principal redemption period, and expected annualized earnings.

2. OKX will extract a certain percentage of fees from users. For detailed fee information, please refer to the product introduction page.

3. Except for project launch and reward distribution, OKX assumes no responsibility for disputes over any agreement, 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

July 3rd, 2024