OKEx Crypto Exchange To Integrate DAI Savings Rate On The 23rd, Users Can Earn 4% By Staking

The crypto exchange OKEx is about to become one of the major platforms integrating the Dai Savings Rate (DSR) and allowing stablecoin holders to earn a return of 4%.

MakerDAO, which is the autonomous and decentralized organization that’s behind Dai, made an announcement on Tuesday, an announcement in which it says on December 23, OKEx is going to integrate the DSR for its users.

OKEx Users to be Able to Directly Deposit Dai

As soon as this will happen, OKEx users will be able to make direct Dai deposits and stake in the DSR in order to earn the 4% savings rate, plus another reward offered by the exchange. Someone from OKEx said the exchange is going to offer the 40% yearly yield to new users, in the December 17 – December 23 period:

“Users can stake a minimum of 10 DAI or a maximum of 2,000 DAI during the 40% annualized yield bonus period. The maximum bonus would be 2,000 * 40% / 365 * 7 = 15.34 DAI.”

Bonuses for Inviting New People

More than this, OKEx users will also receive a bonus for inviting new users that register on the platform. Each user can invite 3 more people, receiving for each the 3 Dai bonus. This is how the spokesperson explained the system:

“For example, user A invites new user B during the staking promotion period. After user B registered an account and holds a daily average of 1,000 DAI in his account, user A can get 3 DAI invitation bonus and user B can enjoy DSR 40% annualized yield for 7 days. If user B holds 2,000 DAI daily during the special bonus period, he can get 2,000 * 40% / 365 * 7 = 15.34 DAI bonus after the promotion period ends.”

No Minimum or Maximum Deposit

MakerDAO mentions there isn’t a maximum or minimum for deposits, nor there are any fees, when it comes to getting started with the DSR. After an executive vote last month, the company activated the DSR. In an announcement made on Tuesday, it said users from all over the world have more than 16 million Dai locked in the DSR contract, in only 3 weeks since the launch.