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OKX has announced plans to add support for four new inscription token standards, namely Atomicals (ARC-20), Stamps (SRC-20), Runes and Dogecoin’s Doginals (DRC-20).
As well as launching the inscription tokens on its platform, OKX says it will integrate these tokens with its Web3 Wallet. The crypto platform also plans to launch a marketplace for DRC-20, ARC-20 and Runes in the coming weeks, according to details in a press release the company published on Monday.
OKX Wallet and Marketplace to support inscriptions
In particular, OKX will add SRC-20 to its wallet on February 5, allowing users to view and transfer the inscription tokens. This will be followed with further integrations for ARC-20, DRC-20 and Runes in later that month. Late February will also see the launch of the token standards on the OKX Marketplace, with users benefiting from zero-fee buying and selling.
OKX Chief Innovation Officer Jason Lau commented that the exchange’s support for the new inscriptions signifies the platform’s commitment to further the mainstream adoption of Web3 technologies. He added:
“By empowering users to easily buy, sell, create, and trade leading token standards on one platform with zero trading fees, OKX is simplifying access and removing barriers so users can explore and realize the potential of inscriptions.”
Inscriptions can help unlock new innovations from creators and collectors, OKX said.
Growing adoption of inscriptions
Inscriptions continue to see a massive resurgence across the industry, with the initial explosion seen with the BRC-20 token standard in 2023 building into 2024. Other than the Bitcoin blockchain, inscriptions have expanded to multiple other networks.
Per today’s announcement, the OKX Wallet’s inscriptions tool supports the minting of inscriptions on 23 different networks. These include Bitcoin, Ethereum, Dogecoin, Polygon, Arbitrum, BNB Chain, and Avalanche-C.
Inscriptions data from crypto platform Dune shows the current market includes more than 58 million Ordinals inscriptions on Bitcoin. The BRC-20 token transactions have seen over $167 million in fees.
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