Compound v3 (Arbitrum) - USDT On-chain Earn product & event phase 3 launch announcement

OKX will offer Compound v3 (Arbitrum) - USDT on On-chain Earn, starting from 13:00 am UTC on July 16, 2024. This will allow users to experience on-chain rewards without any hassle.

About Compound v3 event - Phase 3

Compound v3 (Arbitrum)-USDT: As of July 26, Compound v3 (Arbitrum) - USDT will share an additional 100,000 ARB rewards with OKX Web3 Wallet.For information about previous Compound v3 events, please refer to the following:

Phase 1: https://www.okx.com/zh-hans/help/compound-v3-arbitrum-usdc-earn-product-and-event-phase-1-launch-announcement

Phase 2: https://www.okx.com/zh-hans/help/compound-v3-arbitrum-eth-on-chain-earn-product-and-event-phase-2-launch

Rewards and distribution rules

• Deposit rewards: Users earn rewards by depositing the base asset USDT into the protocol. The rewards 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 the rewards. These rewards are distributed to the user's account every 8 days.

• ARB token rewards: The rewards will be distributed daily to the users' funding accounts during the event.

On-chain Earn highlights:

• No subscription limits

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

• Real on-chain annualized earnings

How to Subscribe?

1. In On-chain Earn, search USDT

2. Select Compound v3 (Arbitrum)

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, rewards 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 16, 2024