OKX has recently implemented newer inscription token standards throughout its wallet and marketplace. This strategic integration includes support for Dogecoin Ordinals (Doginals), Atomicals, Stamps, and Runes, which significantly expands the range of offerings available to users.
Renowned for its web3 self-custodial features, OKX’s wallet now integrates the Bitcoin token standard SRC-20 (Stamps). This integration enables users to seamlessly view and transfer inscription standards. Additionally, in late February, OKX Wallet will extend its support to ARC-20 (Atomicals), DRC-20 (Doginals), and Runes.
This move reflects OKX’s commitment to keeping up with the evolving landscape of inscription standards, positioning itself as a trailblazer in supporting these diverse tokens. Furthermore, the integration of DRC-20, ARC-20, and Runes standards into the OKX Marketplace in late February will provide millions of users with the opportunity to buy and sell these inscriptions without incurring any fees.
Inscriptions are a form of metadata that can be stored on individual satoshis, the smallest unit of the Bitcoin currency, using the Bitcoin blockchain. They capture intended actions, such as minting or transferring tokens, within the transaction’s metadata. Compared to storing this data in a smart contract, inscriptions are much more cost-effective.
Furthermore, inscriptions are making their way to EVM chains such as Ethereum, Arbitrum, Avalanche, Polygon, and BNB. They emulate NFTs and fungible tokens like ERC-721 and ERC-20, but with a notable cost advantage.
Jason Lau, OKX’s Chief Innovation Officer, highlighted the significant surge in inscription activity, noting, “We’re witnessing a remarkable increase in activity, with both the market and user base expanding.”
He added that OKX is dedicated to leading the web3 revolution by equipping users with tools to engage with a broad range of inscription standards.
The OKX Wallet’s inscription tool is compatible with 23 networks, including major ones like Bitcoin, Dogecoin, Ethereum, Polygon, BNB Chain, Avalanche-C, and Arbitrum One.
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