Okcoin is the first licensed U.S. crypto exchange to launch support for Avalanche’s Contract Chain (“C-Chain”). Transactions take seconds and we charge super low fees. To celebrate, we’re giving away 5,500 AVAX – learn more below. 👀
TL;DR
- What? Our customers can now hop on and off from Avalanche’s Contract Chain (C-Chain) in seconds and with zero fees. We’re giving away 5,500 AVAX to celebrate. 🎉
- Who? All Okcoin customers except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposits and withdrawals are available since August 5!
What is Avalanche’s Contract Chain (C-Chain)?
Avalanche is an open-source blockchain protocol for building decentralized applications. Its native currency is AVAX, which can be locked to secure the network and earn staking rewards. The price of AVAX has been soaring recently, going from $10 a month ago to above $50 at the time of our C-Chain integration. 🔥
Unlike most other blockchain projects, Avalanche is based on three different blockchains, each dedicated to different functions:
- The Exchange (X) Chain allows users to create and exchange assets;
- The Platform (P) Chain allows validators to coordinate with one another and custom blockchain networks (subnets) to be created;
- The Contract (C) Chain allows users to execute Ethereum Virtual Machine contracts as well as regular smart contracts. Think NFTs, ERC20 tokens, decentralized applications, and more.
In short, C-Chain is Avalanche’s blockchain dedicated to smart contracts. Technically, it is a fast (near instant transaction finality), low-fee (around 250 gwei worth of AVAX) implementation of the Ethereum Virtual Machine. This allows Ethereum projects to be easily expanded to C-Chain.
The ecosystem is growing fast: Since its launch on mainnet 10 months ago, more than 225 decentralized finance (DeFi) projects have been built on top of Avalanche, attracting a community of over 550,000 members who’ve executed more than 3,5000,000 smart contract transactions. It may just be the beginning of a larger movement, as Avalanche is partnering with several of the top Ethereum DeFi protocols, such as Aave and Curve, to bring them to C-Chain.
Building bridges to DeFi
DeFi is growing exponentially but remains sometimes clunky to access. The focus of our support for Avalanche’s C-Chain is to offer easy access and exit to and from their network of decentralized applications. To do this, we offer a simple way to deposit and withdraw AVAX C-Chain.
What is AVAX C-Chain? Well, just like ETH is Ethereum’s native token, AVAX C-Chain is C-Chain’s native token. It’s used to pay for C-Chain transaction fees for instance.
We’ve made the process to hop into C-Chain very simple:
- Buy AVAX on Okcoin
- Withdraw it in AVAX C-Chain to your wallet
- Play with C-Chain’s decentralized applications
Going back from C-Chain to Okcoin is even simpler, as you can deposit AVAX C-Chain back into your Okcoin account at any moment.
How to withdraw AVAX C-Chain on Okcoin
We made withdrawing AVAX to Avalanche’s C-Chain super easy. Here’s how it works:
1. Access your withdrawal dashboard
Click the Withdrawal button under the Assets menu to access your withdrawal dashboard.
2. Select AVAX C-Chain
Select AVAX as the currency and AVAX-C-Chain as the AVAX withdrawal network.
3. Choose the amount you want to withdraw
Under AVAX address, enter the address you want to withdraw to. For C-Chain, your address should begin with C-0x. Enter the amount of tokens you want to withdraw and click Continue.
4. Complete your withdrawal
Get $30 in AVAX
To celebrate the launch of our C-Chain integration, we’re giving away a total of 5,500 AVAX and you can receive about $30 in AVAX. Here’s what you need to do:
- Opt-in to participate in the form below.
- Use our Buy Crypto feature to purchase $200 worth of AVAX.
- Pass identity verification level 2.
Terms and conditions apply. Learn more
