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The integration will support DeFi adoption and promote self-sovereignty on the Avalanche network
February 24, 2023 – OKX, the world’s leading cryptocurrency exchange platform, has joined forces with Avalanche liquid staking solution Benqi in a collaboration that sees its native decentralized application discovery tool, OKX Discover, supporting Benqi, and Benqi integrating the OKX Wallet web extension on its website and product. The integration of the OKX Wallet, a leading self-custodial solution for digital assets, through its web extension on Benqi’s website and product will enable users to flawlessly enter the Web3 ecosystem via OKX Wallet.
With the partnership, Benqi users can also access the OKX Wallet without leaving the Benqi website, providing a more convenient experience. Users can use the OKX Wallet to gain access to tokens, NFTs, and dApps in more than 40 chains and roll-ups. As a self-custodial wallet product, OKX Wallet users are in charge of their own private keys and crypto assets.
Both firms seek to promote the non-custodial, trustless nature of Avalanche and DeFi. For crypto swap products, OKX Wallet has integrated with OKX DEX, a swap aggregator, to connect with all liquidity from more than 13 chains and provide free trading for users. In order to fulfill the market demands for token transfer across different chains, OKX DEX optimizes users’ output by finding the best liquidity providers and the route that minimizes slippage and network fees.
OKX is the second biggest global crypto exchange by trading volume and a leading web3 ecosystem. Trusted by more than 20 million global customers, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere. Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens along with access to over 10,000 dApps.
Benqi, a decentralized finance (DeFi) protocol built on Avalanche, ranks among the top 31 on Defillama with a TVL of $290 million. BENQI Liquidity Market (BLM) is a non-custodial liquidity market protocol that enables users to lend, borrow, and earn interest with their digital assets, while BENQI Liquid Staking (BLS) tokenizes staked AVAX, allowing users to utilize, swap, or collateralize the yield-bearing asset within DeFi applications.