To meet users’ demand, OKX crypto exchange enabled the flexible staking feature for five top digital assets including XRP, Shiba Inu (SHIB), and Dogecoin (DOGE).
According to the announcement, the spots available for the flexible staking deals offered by the Seychelles-based exchange, for the selected crypto assets, are limited and accessible on a first-come, first-served basis.
OKX Flexible Staking Details
The OKX flexible staking deals are only available for Shiba Inu, Dogecoin, XRP, Litecoin (LTC), and Filecoin (FIL), per the Thursday update.
Introducing our new upgrade of #OKXEarn Gold Rush 📢 Staking with more flexibility!
First-come, first-served basis 🔽
— OKX (@okx) December 8, 2022
It is worth noting that the APY for SHIB flexible staking is 2.5% and Shiba Inu holders can stake as low as 1 SHIB token. Likewise, the APY for staking XRP on the OKX exchange is kept at 2.50%, with the minimum investment pegged at 0.01 XRP.
Meanwhile, the highest APY can be earned from staking the leading decentralized meme token, Dogecoin, as its associated APY is 10%. Users can stake a minimum of 0.01 DOGE to earn this high yield.
On the other hand, Filecoin staking comes with a 2% APY, with 0.01 LTC as the minimum investment. For the Litecoin staking deal, users can lock up as low as 0.01 LTC to earn a 3.5% APY.
This development comes as an upgrade to the OKX Earn Gold Rush Bonus promotion, as the exchange seeks to give holders of SHIB, DOGE, and XRP more opportunities to earn high rewards via staking.
Recall that OKX Earn, a program that enables users to earn passive income on their assets through staking, launched the debut edition of its Gold Rush Bonus promo in September.
At the time, the Seychelles-based exchange launched a 90-day staking exercise for SHIB, XRP, DOGE, FIL, and LTC. Although the staking APY then was up to 12%, users frowned at the long deposit and withdrawal duration and called for more flexibility.