OKX Wallet launches xBTC related activities, with the first phase sharing 35,865 APT rewards

ChainCatcher news, according to official information, the first phase of xBTC has now launched on Aptos, and a series of related activities have begun. Starting from May 28 at 15:00 (UTC+8), users can participate in sharing a reward of 35,865 APT by depositing xBTC, USDC, or APT in Aries Markets, Echo Protocol, or Hyperion. This series of activities will last for 6 months, with a total prize pool equivalent to 3.4 million USD in tokens.

It is reported that xBTC is a wrapped Bitcoin issued by OKX, strictly following a 1:1 reserve mechanism. Users can withdraw BTC from the exchange to the target chain to receive an equivalent amount of xBTC; they can also recharge xBTC back to the exchange through the target chain to exchange for BTC. The platform verifies asset transparency in real-time through on-chain proof of reserves (PoR), further ensuring the safety of user assets.