Passive crypto income to benefit billions

Passive Crypto Income to Benefit Billions

Lennix Lai (Financial Markets Director for Cryptocurrency spot- and derivatives exchange OKEx), stated that passive crypto income can benefit Billions of people at the Blockchain Economy Istanbul Summit.

“Digital assets and blockchain are slowly changing the way we earn interest. Lai stated that the mainstreams are responsible for defining the social capital based on how the interest rates allocate and they take banks as core information and credit intermediaries. It will likely create new products that offer interest on a regular basis by moving forward, based upon PoS and DPoS as well as DeFi lending. This could be mutually beneficial to traditional financial systems, and thus offer billions of people the opportunity to earn passive income.

The traditional financial system recognized the difficulties associated with high operational costs. Low interest rates have had undesirable side effects on the real-world economy. Banks, for example, are forced to hold more reserves and cannot pass negative rates to depositors.

Blockchain and cryptocurrency are smart contracts that run on blockchain. This allows for trading finance at a lower cost. Permissionless financial instruments lower the barrier to creating and issuing bespoke tradable contract for anyone to trade, hedge and earn. OKEx Pool supports the staking 8 main tokens, including EOS and DAI, VSYS, and VSYS. Interest rates as high as 15% are possible.

OKEx is committed to building a frictionless world. OKEx launched OKChain recently, a commercial public blockchain that supports the creation and publication of DeFi applications by users. OKEx DEX was also launched by OKEx. This decentralized exchange is the first to be available on OKChain and promises better liquidity and trading experience.