The cryptocurrency landscape continues to evolve at a rapid pace, and OKX remains at the forefront of innovation, delivering timely upgrades and user-centric features across its ecosystem. From supporting critical network upgrades like Ethereum’s Shapella to introducing new staking capabilities and cross-chain incentives, OKX is empowering users with greater flexibility, enhanced yields, and early access to promising blockchain projects.
This comprehensive update covers pivotal developments across OKX’s financial products, Web3 integrations, and new token offerings—ensuring users stay informed and ahead in the fast-moving digital asset space.
Ethereum Shapella Upgrade Supported
OKX has officially confirmed full support for the Ethereum Shapella upgrade, a landmark event that enabled withdrawals from the Ethereum 2.0 beacon chain. The upgrade went live on April 12, 2023 (UTC), unlocking long-awaited liquidity for stakers.
With this milestone, users who previously staked ETH via OKX Earn can now redeem their BETH tokens back into native ETH at a 1:1 ratio. The redemption feature became available on April 18, 2023, at 16:00 UTC+8, allowing seamless conversion directly through the OKX ETH2.0 staking dashboard.
👉 Discover how to unlock your staked ETH with just a few clicks.
Understanding BETH and ETH Redemption
BETH is a tokenized representation of staked ETH on OKX, accruing rewards in real time as users participate in Ethereum’s proof-of-stake consensus. Prior to Shapella, these rewards were locked; now, both principal and accumulated yield can be withdrawn.
Key points:
- Redemption occurs at a fixed 1:1 rate regardless of market conditions.
- No fees are charged by OKX for the conversion process.
- Users continue earning staking rewards up until the moment of redemption.
This functionality aligns with Ethereum’s broader vision of a fully functional proof-of-stake network, where security, scalability, and user control coexist.
BETH Staking Rewards Program Launched
In celebration of the Shapella upgrade, OKX launched a dedicated BETH staking rewards campaign starting April 13, 2023. Users who stake BETH during the promotional period gain access to boosted annual percentage yields (APY), exclusive airdrops, and additional incentive tiers based on total holdings.
The campaign underscores OKX’s commitment to rewarding early adopters and long-term supporters of decentralized networks. By combining utility with yield enhancement, OKX helps users maximize returns without compromising on security or ease of use.
Arbitrum Gas Fee Rebate for Web3 Explorers
As Layer 2 adoption accelerates post-Shapella, Arbitrum has seen a surge in activity—with Total Value Locked (TVL) increasing by over 60% in just one month. Recognizing this momentum, OKX DEX has introduced a limited-time promotion: 100% gas fee reimbursement for all cross-chain transfers to Arbitrum.
This initiative lowers the barrier for users exploring Arbitrum-based decentralized applications (dApps), including leading protocols in DeFi, NFTs, and gaming. Whether bridging assets for yield farming or interacting with new smart contracts, OKX Web3 wallet users enjoy frictionless entry into one of Ethereum’s most vibrant ecosystems.
To participate:
- Connect your Web3 wallet via OKX DEX.
- Initiate a cross-chain transfer to Arbitrum.
- Receive full gas cost refund in the native token of the source chain.
This rebate not only reduces entry costs but also encourages deeper engagement with emerging use cases built on scalable infrastructure.
👉 Start exploring high-performance dApps on Arbitrum today.
OKX Earn Restructures for Simplicity and Flexibility
To improve user experience and offer more diverse earning options, OKX completed a major reorganization of its Earn product suite on April 14, 2023.
Introduction of “Simple Earn”
The legacy Flexible Savings (formerly “Yu Bibao”) and Locked Staking services have been unified under a new umbrella: OKX Simple Earn. This streamlined platform offers:
- Instant liquidity for flexible products
- Higher yields for fixed-term deposits
- Automatic reinvestment options
- Support for over 50 cryptocurrencies
Existing flexible savings positions remain unaffected and continue accruing interest. For users previously enrolled in "Lock-up Flexible" products, an auto-renewal mechanism ensures uninterrupted earnings after maturity.
Additionally, OKX introduced a 3-day fixed-term product as a middle ground between flexibility and yield—ideal for traders seeking short-lock instruments with better returns than traditional savings accounts.
SUI Token Sale via Jumpstart with Fair Launch Model
OKX Jumpstart is set to launch the SUI token sale on April 23, 2023 (UTC+8), marking another milestone in supporting next-generation blockchain innovations. SUI is the native token of the Sui Network, a high-throughput Layer 1 blockchain developed by former Meta engineers using the Move programming language.
What sets this launch apart is its subscription-based lottery model, designed to ensure fair distribution:
- Users commit OKB to qualify for allocation.
- Participation weight depends on average OKB holdings over a snapshot period.
- Winners are selected randomly within eligible tiers.
- Dedicated programs for contributors to the Sui ecosystem.
This approach prevents whale dominance and gives retail participants equitable access—an increasingly important principle in decentralized project launches.
HNT Token Migration to Solana Network
To align with evolving network standards and improve transaction efficiency, OKX completed the migration of HNT (Helium) tokens from the legacy Helium blockchain to the Solana network.
As of April 12, 2023:
- All HNT deposits on the original Helium chain have been disabled.
- Only HNT-Solana (HNT/SOL) is supported for deposit and withdrawal.
- Existing balances were automatically converted without user action required.
Users are advised to ensure they send HNT only to Solana-compatible addresses to avoid irreversible fund loss. This transition enhances interoperability and paves the way for deeper integration with DeFi and mobile networks leveraging the Solana ecosystem.
Enhanced Security and Asset Quality Control
OKX continues to enforce strict listing and delisting criteria to maintain platform integrity. In early April 2023, the exchange conducted a comprehensive review of listed tokens based on:
- On-chain activity levels
- Project development progress
- Community feedback
- Compliance with transparency standards
Tokens found non-compliant with OKX’s Token Delisting Rules were either hidden from public view or fully delisted to protect investors from low-liquidity or stagnant projects. This proactive risk management reflects OKX’s dedication to fostering a healthy digital asset environment.
Frequently Asked Questions (FAQ)
Q: What is BETH and how does it differ from ETH?
A: BETH represents staked ETH on the Ethereum 2.0 network through OKX Earn. It accrues daily staking rewards and can be redeemed 1:1 for ETH since the Shapella upgrade enabled withdrawals.
Q: Can I still earn rewards after redeeming BETH?
A: Yes—rewards accumulate up until the moment of redemption. Once converted, you hold liquid ETH which can be traded, transferred, or restaked.
Q: How do I benefit from the Arbitrum gas rebate?
A: Simply initiate a cross-chain transfer to Arbitrum via OKX DEX. The system will automatically refund your entire gas fee in the originating chain’s currency.
Q: Is my existing flexible savings balance affected by the Simple Earn update?
A: No. Your current holdings remain active and continue earning interest. You can choose to migrate or withdraw at any time.
Q: When will I receive my SUI tokens if selected in Jumpstart?
A: Allocations are typically distributed within 24 hours after the sale concludes. Eligible users receive notifications via email and in-app alerts.
Q: Why was HNT moved to Solana?
A: The migration improves scalability, reduces fees, and enables HNT to leverage Solana’s growing DeFi and mobile ecosystems.
Core keywords: ETH2.0 redemption, BETH staking, Arbitrum gas rebate, SUI token sale, OKX Earn upgrade, HNT Solana migration, Ethereum Shapella upgrade, Jumpstart lottery model
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