Source: OKX

A wallet is the first stop to explore the Web3 world, a unified entity that integrates payment, transaction, and interaction, as well as a collection of identity, assets, and accounts. It is also a key driver for the large-scale application of Web3 technology. The wallet track has no shortage of pioneers who stand at the forefront, as well as followers who advance together. They have upheld their beliefs and worked hard on the battlefield for a long time, continuously iterating and strengthening the infrastructure through bottom-up technological innovation, and continuously expanding the boundaries of Web3 wallet applications.

OKX, as a veteran leading exchange with both technical and production capabilities, as well as excellent product perception, has brought wallet product development to a whole new level with its OKX Web3 wallet launched in 2021 through continuous breakthroughs and innovation. It greatly reduces the user's threshold for use while providing a one-stop full-process service. Its many pioneering features are leading the industry and becoming a benchmark for the wallet track.

Ordinals Market - BRC20 Asset Trading Preferred

The approval of Bitcoin spot ETF and the upcoming halving cycle are the two core narratives that have led to the resurgence of the Oridnals ecosystem, with BRC20 assets widely sought after by the community. However, the unexpected heat has exposed the shortcomings of Bitcoin-related infrastructure, resulting in a gap between user demand and the supply of high-quality products in the short term. To bridge the gap in user demand and support the development of the Bitcoin ecosystem, OKX Web3 is leveraging its technology and development advantages to promote the development of Oridnals ecosystem infrastructure and lead the establishment of related standards in the Bitcoin industry.

In late May of this year, OKX Web3 wallet was fully launched on the Ordinals market. With its smooth product experience, comprehensive functionality, optimal liquidity, and zero transaction fees, it has received rave reviews since its launch and has become the preferred platform for entering the Bitcoin ecosystem. According to Dune data, Bitcoin Ordinals transactions currently account for nearly 70% of the industry, ranking first.

OKX Web3 wallet Ordinals market is completely decentralized, with no platform service fees for interaction, and is the industry's first multi-chain APP wallet that supports Ordinals market. Users can easily participate in and play with the Bitcoin ecosystem by transferring, trading, and engraving BRC-20 and BTC NFT through the Ordinals market.

Priority online UTXO management feature - soon to be upgraded to intelligent release

Starting from April, the gradually launched BRC20 gradually led the Ordinals ecosystem to a climax. OKX Web3 wallet was the first to launch the Ordinals market, and after the BTC NFT and BRC-20 trading functions were opened, it added other functions such as casting. Subsequently, innovative gameplay such as BRC20s was developed. However, with the appearance of more and more Bitcoin inscriptions, some UTXOs occupied by abandoned Ordinals inscriptions will cause users' partial BTC balances to be unavailable, making it impossible to transfer or pay Gas normally. Therefore, OKX Web3 wallet has launched the UTXO management function as soon as possible.

However, during the process of manually releasing UTXO occupation by users, there may be cases where valuable UTXOs are released due to operational errors. In order to avoid asset losses caused by users' unfamiliarity with UTXO release occupation function, OKX Web3 wallet will upgrade UTXO management function to UTXO intelligent release function. This function aims to help users automatically identify worthless NFTs (including invalid BRC-20 and BRC20 inscriptions). If a user's UTXO only contains worthless NFTs, it will be automatically released from occupation, and this operation will not affect the user's valuable NFT assets, making it easier for users to interact in the Bitcoin ecosystem.

Multi-chain seamless switching - making trading as easy as CEX

In the vast world of Web3, there are numerous public chains with different technologies and development directions. Users need to frequently switch between different public chains and even add custom networks during the interaction process of different projects. How to simplify the complex process and even complete asset transactions on different chains with minimal steps, like centralized trading platforms, has become one of the problems that wallets need to solve.

The value of OKX Web3 wallet's multi-chain seamless switching is mainly reflected in two aspects: on the one hand, users do not need to manually switch the chain where the assets are located when transferring assets. They can directly click on the held assets on the asset management page to send and transfer assets on different chains; on the other hand, for the chains supported by OKX Web3 wallet, users do not need to manually add the two chains that need to be crossed when conducting cross-chain transactions. They can directly select the asset pair they want to trade on the trading interface to conduct cross-chain transactions, which is very convenient.

In addition, the OKX Web3 wallet has supported 79+ public chain wallets, meeting the asset trading needs of the vast majority of users on various chains.

OKX AA Smart Contract Wallet - Simplifying Complexity and Lowering Barriers

The birth of the AA wallet is to solve some of the challenges and limitations faced by private key wallets. With the AA smart contract wallet, users can interact with multiple contracts in one transaction, which not only increases the convenience for novice users but also meets the multi-level needs of advanced users, thus creating a more user-friendly and intuitive wallet experience.

This year, OKX officially launched the AA smart contract wallet, which was rated as the "iPhone moment" of Web3 wallets by the industry. Its first-phase function supports users to create AA smart contract wallets on 7 popular public chains such as Ethereum, Polygon, Arbitrum, Op, and Avalanche, and directly pay Gas with stablecoins USDT/USDC. With multiple functions such as on-chain DEX, DeFi interaction, and one-click completion of multi-step interaction, it greatly improves the convenience of wallet use.

After users have a mnemonic wallet, private key-free wallet, or hardware wallet on the OKX App, they can immediately experience the AA smart contract wallet. Compared to private key wallets, in the future, OKX's AA smart contract wallet will also plan to launch social recovery, wallet mini-program components, friend and family gas payment, and other exciting features to further reduce user barriers and make it possible to bring 1 billion users into the Web3 industry.

Wallet Batch Creation - Achieving Distributed Storage of Assets

Authorization is required for different projects in Web3 interactions, but there are certain risks associated with different types of authorization. Especially for niche projects, using an independent wallet address is more secure. However, managing multiple wallet private keys brings management risks, which seems to be an irreconcilable contradiction. To address this issue, OKX Web3 wallet has launched a feature that allows users to derive multiple account wallets from a single mnemonic phrase, supporting up to 100 wallets. This reduces the risk of private key leakage while achieving easy and convenient asset management.

This feature has also been welcomed by another group of users who participate in project testing to receive airdrops. They use multiple accounts to participate in the interaction of different projects in order to obtain project airdrop rewards. The more participation addresses, the more rewards they receive. The derivative wallet has greatly increased the management cost for this group of users.

BONUS Interest Bonus - Increasing On-Chain Revenue Scenarios

With the influx of incremental funds from traditional finance brought by the RWA track, as well as the emergence of innovative and native protocols in the crypto industry, the huge potential of the DeFi track is being reactivated. However, due to the cumbersome on-chain operations, high costs at every step, obscure and unfamiliar concepts, and unforeseen risks and vulnerabilities, most users find it difficult to participate in high-quality DeFi projects. Even if they do participate, they can only perform simple operations such as staking and swapping, and cannot fully understand and utilize their composability features, resulting in relatively low utilization of their funds.

To solve many pain points for users participating in DeFi, OKX Web3 wallet has launched a one-stop on-chain investment platform DeFi section. Through continuous product optimization and iteration, it has now aggregated a variety of investment products from 10+ public chains, 60+ projects, and 200+ protocols, supporting users to easily invest across currencies with one click and automatically calculate earnings, helping them improve capital utilization while saving gas fees, making DeFi investment extremely simple.

In addition, to enhance user benefits, the OKX DeFi platform has also exclusively launched the BONUS interest rate reward. Through cooperation with high-quality project parties, various flexible gameplay methods are introduced to help users earn multiple rewards. The platform also implements principal and interest separation through contract layers to ensure the safety of user funds.

Top intelligent algorithm X Routing for transaction aggregator - automatically find the best transaction price

Encrypted asset Swap is the most frequent and commonly used on-chain function for users, but there are many pain points in current DEX, such as low transaction speed, high transaction costs, and limited asset types. With the prosperous development of public chains, the demand for asset cross-chain transactions and exchanges has rapidly expanded, and many issues such as the number of public chains supported, liquidity, and security exposed by DEX are increasingly unable to better meet user needs. To help users better conduct on-chain asset exchanges and cross-chain transactions, OKX has taken the lead in launching the industry's most powerful DEX and cross-chain aggregator.

OKX DEX has recently completed a new algorithm upgrade, which will search and list all available cross-chain bridges, and use its self-developed X-Routing algorithm to calculate the comprehensive pricing, network fees, slippage, etc. of each DEX, compare the differences, and rank them to provide users with the best trading path. At the same time, OKX DEX will also provide personalized choices for users based on the three dimensions of comprehensive optimization, maximum quantity, and shortest time for all available cross-chain bridges.

The current OKX Web3 wallet has integrated 20+ cross-chain, 20+ public chain, and 300+ DEX, providing users with the best prices, optimal liquidity, and 0 transaction fees. It also has features such as DEX market section, limit orders, and KYT security checks. In addition, many mainstream protocols have actively integrated OKX DEX API to provide their users with better trading liquidity and optimal pricing.

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