OKX Web3 Wallet has announced the integration of four major inscription token standards: Atomicals (ARC-20), Stamps (SRC-20), Runes, and Dogecoin’s Doginals (DRC-20). This move establishes OKX as the first and most advanced one-stop inscription ecosystem platform within the Web3 industry.
This integration allows users to seamlessly view, manage, and transfer these inscription tokens directly through their OKX Web3 Wallet. The expansion reaffirms OKX’s commitment to providing broad accessibility to emerging digital asset formats while maintaining a user-friendly experience.
Supported Token Standards and Integration Timeline
The rollout will occur in phases, offering users early access to some of the most talked-about token standards in the blockchain space.
SRC-20 Integration
As of February 5, OKX Web3 Wallet has integrated support for the Bitcoin-based SRC-20 token standard. Users can now check their SRC-20 token balances and execute transfers effortlessly.
Upcoming ARC-20 and DRC-20 Support
By the end of February, support for ARC-20 (Atomicals) and DRC-20 (Doginals) token standards will be added. This will enable users to interact with a wider range of assets on both the Bitcoin and Dogecoin networks.
Runes Protocol and Future Plans
Integration for the Runes token standard is scheduled to begin after the upcoming Bitcoin halving event. This timeline aligns with expected network updates and community readiness.
OKX NFT Marketplace Expansion
In parallel to wallet updates, the OKX NFT Marketplace will also integrate DRC-20 and ARC-20 standards by the end of February. This update will provide millions of users with a zero-fee marketplace to buy and sell DRC-20 and ARC-20 inscriptions.
This feature is especially significant for collectors and traders looking for a secure and cost-effective platform to engage with these new asset types.👉 Explore more strategies for managing digital assets
The Role of Inscription Token Standards
Inscription tokens represent a new method of creating and tracking digital assets on blockchains like Bitcoin and Dogecoin. Unlike traditional tokens on smart contract platforms, these assets are often inscribed directly into individual satoshis or transaction outputs.
This approach has gained popularity due to its simplicity and the security provided by the underlying blockchain. Standards like ARC-20, SRC-20, and DRC-20 provide a common set of rules ensuring compatibility across wallets, explorers, and marketplaces.
Benefits for Users
The integration of multiple inscription standards into a single wallet offers significant advantages:
- Unified Management: Users can manage diverse digital assets from a single interface.
- Ease of Use: Simplified processes for viewing, sending, and receiving inscription tokens.
- Market Access: Direct connection to a major NFT marketplace for trading with zero fees.
- Security: Benefit from the security infrastructure of the OKX Web3 Wallet.
Frequently Asked Questions
What are inscription tokens?
Inscription tokens are digital assets created by inscribing data directly onto the smallest units of a blockchain, such as a satoshi on Bitcoin or a dogeon on Dogecoin. They represent a new form of digital collectible or asset that leverages the security of the base chain without always requiring a separate smart contract.
How do I view my SRC-20 tokens in OKX Web3 Wallet?
After the integration, your SRC-20 tokens should appear automatically in your OKX Web3 Wallet interface alongside your other assets. You can view your balance and transaction history without needing to add a custom token manually.
Is there a fee for trading DRC-20 tokens on the OKX NFT Marketplace?
No, the OKX NFT Marketplace provides zero-cost trading for DRC-20 and ARC-20 inscription tokens. This means you can buy and sell these assets without paying platform transaction fees.
What is the difference between ARC-20 and BRC-20?
ARC-20 (Atomicals) and BRC-20 are different token standards on Bitcoin. ARC-20 utilizes the Bitcoin UTXO model and aims for a more native Bitcoin integration, while BRC-20 is an earlier standard that uses JSON data inscribed into satoshis for token deployment, minting, and transferring.
When will Runes be fully supported?
Full support for the Runes protocol is planned to commence after the next Bitcoin halving event. The exact date will depend on the development of the protocol and network conditions at that time.
Are these types of assets considered a safe investment?
Like all emerging digital assets, inscription tokens carry inherent risks, including high volatility and market immaturity. It is crucial to conduct thorough research, understand the technology, and only commit funds you are prepared to lose.