Why is the standalone OKX Wallet App being launched?

Asset security and autonomous control : In the cryptocurrency field, what users are most concerned about is asset security and autonomous control of assets. OKX Wallet uses advanced security technology to ensure the security of user assets. For example, cold storage technology stores user assets offline, greatly reducing the risk of being attacked by cyber attacks and effectively preventing assets from being stolen. Multi-signature technology manages private keys in a decentralized manner, further improving the security of assets. For users who value asset security, the independent OKX Wallet allows them to store digital assets with more confidence and fully control their private keys, without worrying about the possible problems that may be faced in centralized exchanges such as asset losses caused by attacks on exchanges, or asset security risks caused by internal management issues of the exchange.

Convenient asset management : OKX Wallet supports various mainstream digital currencies such as Bitcoin and Ethereum. Users can easily perform basic operations such as asset storage, transfer and collection in their wallets. Its interface design is simple and intuitive, and it is easy to operate, so even new users who are new to cryptocurrencies can get started quickly. For example, users can generate a collection address with just one click, which is convenient for receiving digital currency, and can also query transaction records in real time to keep abreast of asset dynamics at any time. This convenient asset management experience greatly meets users' needs in daily digital asset trading and management, and improves users' management efficiency of digital assets.

Participate in decentralized finance (DeFi) and Web3 applications : With the rapid development of decentralized finance and Web3 applications, more and more users hope to participate easily. As an important entrance to decentralized finance and Web3 applications, OKX Wallet has built-in multi-chain and cross-chain dex, a one-stop on-chain investment tool defi (Web3 earn coins) sector, and a heterogeneous multi-chain nft aggregation trading platform. Users can easily access more than 1,000 dapp protocols through this wallet. This means that users can meet the usage needs of multiple decentralized applications on one platform, such as participating in decentralized lending, liquidity mining, NFT trading, etc. Taking the DEX function in the wallet as an example, users can exchange digital currency between different blockchain networks to obtain more preferential transaction prices and handling fees, without frequent switching between multiple different applications or platforms, significantly reducing the threshold and cost of users participating in DeFi and Web3 applications.

Transformation from centralized to decentralized trading model : At present, the industry is showing a trend of off-chain trading to on-chain, and centralized exchanges (CEXs) are gradually transforming to decentralized exchanges (DEXs). OKX's launch of independent wallet applications is in line with this industry development trend. In OKX's development strategy, its application positioning is transitioning from simple CEX to DEX. By continuously strengthening DEX functions, weakening CEX functions, and ultimately achieving "backed evolution". The independent OKX Wallet plays a key role in this process. It can provide users with a purer decentralized transaction experience and meet users' growing demand for decentralized transactions. For example, when a user conducts transactions in OKX Wallet, funds and personal data are no longer stored in the centralized server. Instead, they use the smart contracts of the underlying public chain to complete all the processes such as asset custody, transaction matching and transaction clearing on the chain, fully ensuring the decentralized characteristics of transactions and the autonomy of user assets.

The development needs of multi-chain ecosystem : In the blockchain industry, the trend of single-chain expansion to multi-chain is becoming increasingly significant. OKX Wallet supports assets of more than 40 mainstream networks. Users can generate multi-chain wallets using a set of mnemonics, which are used to manage assets of different networks such as Ethereum, OKTC, BSC, Polygon, etc., and also supports multi-mnemonics import and derived addresses. This feature allows users to easily operate in multiple blockchain networks, avoiding the tedious process of creating different public chain wallets and managing multi-chain assets. With the continuous development of the blockchain multi-chain ecosystem, more and more projects and applications are built on different blockchain networks, and users have increasingly demanded for tools that can easily manage multi-chain assets. OKX Wallet just meets this need, providing convenience for users to freely communicate in the multi-chain ecosystem, helping users better participate in the development of the multi-chain ecosystem and grasp investment and application opportunities on different chains.