In the rapidly evolving world of digital assets, OKX offers a powerful and user-friendly chain-based earning service that enables users to generate passive income through staking. This comprehensive guide outlines the terms, features, risks, and operational mechanics of the service while ensuring clarity, transparency, and compliance with global standards.
Whether you're new to crypto yield generation or an experienced participant in decentralized finance (DeFi), this agreement provides essential insights into how your digital assets are managed, how rewards are calculated, and what responsibilities and rights you hold as a user.
Overview of the Service
The chain-based earning service (referred to as “the Service”) is provided by OKX, allowing users to stake their digital assets on supported blockchain networks—commonly known as staking protocols—and earn rewards over time. By participating in the Service, you authorize OKX to manage your assets within defined parameters for optimal yield generation.
Using the Service signifies your full acceptance of this User Agreement. It governs your relationship with OKX and applies alongside the broader OKX Terms of Service. In any case of conflict between the two documents, this Agreement takes precedence.
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Key Definitions
To ensure clarity, here are the core concepts used throughout this agreement:
- DeFi Protocol: A third-party decentralized financial application where staking occurs.
- Expected Rewards: An estimated rate or amount of return displayed on the platform. Actual rewards may vary.
- Fast Redemption: A feature allowing quicker access to staked assets without waiting for standard unlocking periods.
- Liquid Staking Token (LST): A token issued off-chain representing your staked assets. LSTs can be used within OKX but may not be transferable externally.
- Staking: The act of locking digital assets into a protocol via OKX to earn yield.
- Redemption: Withdrawing your staked assets back to your account.
- Service Fee: A fee deducted from earned rewards to cover operational costs.
These definitions help frame how value is generated, tracked, and distributed under the Service.
Eligibility and User Responsibilities
Before using the chain-based earning service, you must meet certain eligibility criteria and acknowledge key responsibilities:
You Confirm That:
- You agree to allow OKX to hold, stake, redeem, and operate your digital assets as needed.
- You understand that OKX may act as a validator on supported protocols.
- You delegate voting rights related to staked assets to OKX.
- You have sufficient knowledge and risk tolerance for non-principal-protected investments.
- Your digital assets are legally owned and not derived from illicit activities.
Additionally, you agree not to use the Service for:
- Money laundering, terrorist financing, fraud, or other illegal purposes.
- Market manipulation, insider trading, or any malicious trading behavior.
You also accept that:
- Historical performance does not guarantee future results.
- Prices of digital assets are highly volatile and may result in partial or total loss.
- Technical issues or market conditions may delay access to funds.
- OKX reserves the right to modify policies or terms at any time.
How to Use the Service
There are two primary ways to participate in the chain-based earning service:
1. Manual Staking
You can manually initiate staking orders on the OKX platform by selecting:
- The desired staking protocol
- The amount of digital assets to stake
The platform will display expected rewards and minimum thresholds. Once submitted, orders typically cannot be canceled or modified.
2. Auto-Earning (Automatic Staking)
An automated alternative allows idle funds in your account to be staked automatically.
To enable Auto-Earning:
- Go to your OKX dashboard and toggle the feature on.
- Eligible assets—those inactive for six hours, above minimum thresholds, and supported by the Service—will be evaluated daily for automatic staking.
You can disable Auto-Earning anytime. However, previously staked assets must be redeemed manually.
⚠️ Note: OKX may request your consent to switch Auto-Earning to different protocols. Failure to respond may lead to termination of automatic staking without liability.
Reward Calculation and Distribution
Rewards begin accruing from the reward calculation date, which may differ from your order submission date. Key points include:
- Rewards accumulate daily based on a 365-day year.
- No reward is earned on the first day of staking.
- For protocols issuing LSTs: rewards are denominated in LST.
- For others: rewards are paid in the staked asset unless otherwise specified.
- The reward rate fluctuates based on protocol rules, market dynamics, and network conditions.
OKX deducts applicable service fees before distributing rewards. These fees may include costs passed down from underlying protocols.
Redemption Process
To redeem your staked assets:
- Submit a redemption request via the OKX platform.
- After submission, no further rewards accrue on the redeemed portion.
- Requests generally cannot be canceled or modified.
Redemption times vary depending on the protocol and market conditions—ranging from days to weeks.
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Fast Redemption Option
Available when sufficient liquidity exists, this feature allows faster withdrawal without waiting for standard unlock periods. However:
- It is not guaranteed and may be suspended at any time.
- Your staked assets may contribute to the liquidity pool supporting this function.
Service Modifications and Termination
OKX reserves the right to:
- Suspend, cancel, or terminate your access to the Service at any time.
- Add or remove supported staking protocols.
- Impose limits on staking amounts or durations.
Such actions may occur due to:
- Regulatory compliance requirements.
- Suspicious or inaccurate user information.
- Failure to provide requested verification data.
Users will not be compensated for losses arising from such measures.
Risk Disclaimer and Limitation of Liability
While OKX employs robust security practices, several risks are beyond its control:
OKX Is Not Liable For Losses Caused By:
- System failures, delays, or maintenance downtime.
- Force majeure events (e.g., natural disasters, war).
- Cyberattacks, viruses, or technical malfunctions.
- Changes in laws or government regulations.
- Third-party actions or protocol-level failures.
You acknowledge that transaction anomalies or market disruptions may occur. OKX also reserves the right to reject or cancel any instruction at its discretion.
Technology and Access Responsibility
OKX may temporarily restrict access for system upgrades or emergency maintenance. During such periods:
- Your assets may be moved between wallets or protocols as necessary.
- Transaction processing timelines are not guaranteed.
You are responsible for:
- Maintaining internet connectivity.
- Using compatible devices and updated software.
- Securing your account against unauthorized access.
Despite best efforts, absolute data security cannot be guaranteed in a digital environment.
Prohibited Activities
OKX strictly prohibits unfair trading practices. Violations include:
- Market manipulation or price distortion.
- Engaging in harmful market activities.
- Breaching applicable laws or regulations.
Upon detection, OKX may:
- Restrict account functionality.
- Freeze assets.
- Terminate service access.
No liability is assumed for losses resulting from enforcement actions taken to protect market integrity.
Compensation and Legal Jurisdiction
You agree to indemnify OKX and its affiliates against any claims, damages, legal fees, or losses arising from:
- Your use of the Service.
- Breach of this Agreement.
- Unauthorized account activity due to poor security practices.
Legal disputes related to this Agreement are governed by the laws of England and Wales. If unresolved through negotiation, disputes will proceed to arbitration under the rules of the Hong Kong International Arbitration Centre (HKIAC). The arbitration will take place in Hong Kong, conducted in English with three arbitrators.
Updates and Final Provisions
OKX may update this Agreement at any time without prior notice. Continued use of the Service after changes are published constitutes acceptance. Conflicts between translated versions and the English version are resolved in favor of the English text.
If any clause is found invalid, the remainder of the agreement remains enforceable. No delay in exercising rights constitutes a waiver.
All section titles are for reference only and do not affect interpretation. The final authority in interpreting this Agreement rests with OKX.
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Frequently Asked Questions (FAQ)
Q: What happens if I don’t accept updated terms?
A: If you do not agree with revised terms, you must stop using the Service immediately. Continued usage implies acceptance.
Q: Can I cancel a staking order after submission?
A: No. Once confirmed, staking orders cannot be canceled, modified, or reversed.
Q: Are expected rewards guaranteed?
A: No. Expected rewards are estimates only. Actual returns may vary due to network conditions and protocol rules.
Q: How often are rewards distributed?
A: Distribution frequency depends on the selected protocol and market conditions. Rewards accumulate daily but may be disbursed less frequently.
Q: Is fast redemption always available?
A: No. Fast redemption depends on available liquidity and can be paused at OKX’s discretion without notice.
Q: Who owns the staked assets during the lock-up period?
A: You remain the beneficial owner of your assets, though they are locked within the staking protocol until redemption.
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