OKX is the 4th largest centralized exchange in the crypto industry, and they are entering the BRC20 space by proposing a new technical solution called BRC-30 standard to enable more functions to exist for BRC20s. This protocol will allow people to stake their BRC20 tokens and in exchange, be minted BRC30s, giving the staker a new avenue to earn value. This is an open source protocol meaning any developer can leverage it in their dAPP. If adopted, this could be just the tool needed to unlock a DeFi like craze for the BRC20 space, so long as the market sees value in minting BRC30 tokens. If Bitcoin token ecosystem is to compete with Ethereum, there will need to be mechanisms like this one to enable new value to be produced despite no smart contracts.
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0:00 - OKX proposes BRC30 standard
5:00 - BRC30 sparks Bitcoin DeFi revolution
10:00 - BRC30 tokens expand Bitcoin's value
15:00 - BRC30 tokens boost Bitcoin's DeFi
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