Quick Overview
OKX has positioned itself at the forefront of Web3 innovation by supporting several new inscription token standards: Atomicals (ARC-20), Stamps (SRC-20), Bitcoin Runes, and Doginals (DRC-20). These standards bring unique functionalities and will be integrated into OKX’s Web3 Wallet and Marketplace, offering zero-fee trading for millions of users. With advanced inscription tools, OKX is dedicated to expanding the use of inscription technology across leading blockchains.
OKX’s Support for New Inscription Token Standards
OKX recently announced support for four new inscription token standards on its platform: Atomicals (ARC-20), Stamps (SRC-20), Bitcoin Runes, and Doginals (DRC-20). This move solidifies OKX’s leadership in the rapidly evolving field of inscription technology within the Web3 space. These new tokens will be incorporated into OKX’s Web3 Wallet, while DRC-20, ARC-20, and Bitcoin Runes will also debut on the OKX Marketplace in the coming weeks. OKX aims to become a central hub for all inscription activities, setting the stage for a more comprehensive Web3 ecosystem.
Jason Lau, OKX’s Chief Innovation Officer, highlighted the company’s goal to make cutting-edge Web3 technologies accessible to mainstream users. He noted, “By enabling users to buy, sell, create, and trade leading token standards with zero trading fees, OKX is removing barriers, allowing users to explore and maximize the potential of inscriptions.”
Overview of the New Inscription Standards
- Atomicals (ARC-20): ARC-20 introduces a revolutionary fungible token model to the Bitcoin blockchain. By using satoshis—the smallest Bitcoin unit—as the base for token representation, ARC-20 tokens gain inherent value and seamless integration with Bitcoin’s infrastructure.
- Stamps (SRC-20): Often referred to as “Bitcoin’s NFTs,” SRC-20 tokens allow for secure, tradable art on the Bitcoin blockchain. They enable embedding data in Bitcoin transactions, similar to the BRC-20 standard, but with unique features inspired by Counterparty and colored coins, making it a notable advancement in the inscription space.
- Bitcoin Runes: This simpler alternative to the experimental BRC-20 standard quickly rose to popularity, reaching a $1 billion market cap in three months. Bitcoin Runes are fungible tokens native to the Bitcoin blockchain, providing an efficient, streamlined method for handling fungible assets.
- Doginals (DRC-20): Known as DRC-20 tokens, Doginals are segments of Dogecoin that can carry rich data like text or images. The protocol allows each “Shibe”—similar to Bitcoin’s “Satoshi” or “Sat”—to have a unique ID, enhancing their distinctiveness and value.
Integration Timeline and Enhanced Features
OKX plans a phased rollout for these new tokens, starting with SRC-20 on February 5th, followed by ARC-20, DRC-20, and Bitcoin Runes later in February. OKX Marketplace will add these standards in the same timeframe, offering users zero-fee trading on these inscription standards to increase accessibility and liquidity.
OKX’s inscription suite stands out with features like hex error checking, multi-standard support, bulk inscription capabilities, and automatic error detection. These tools allow users on various blockchains to easily adopt and engage with Web3 technologies. Jason Lau reiterated OKX’s dedication to making inscription technology more accessible and eliminating barriers to entry, enabling users to explore and benefit from these emerging standards.
Conclusion
With this announcement, OKX underscores its role as a leader in Web3 inscription technology. The introduction of four new token standards, combined with a robust integration roadmap, demonstrates OKX’s commitment to driving the adoption and evolution of inscription technologies across major blockchains.
