Ouyi’s Earned Coin Adds Redemption Function for ETH 2.0 Pledge

04/14/2023 08:27 • Metaverse Matters • 84 views

On April 14th, according to the official news of Ouyi, Ouyi Earned Coin will officially support the redemption function of ETH2.0 pledge on April 18th, 2023 at 16:00 (UTC+8). Users can go to the OKX ETH2.0 pledge page of Ouyi and redeem their BETH holdings into ETH in a 1:1 ratio.

Euro Earned Currency ETH 2.0 Pledge Will Support Redemption

Introduction

On April 14th, Ouyi announced that their Earned Coin platform will support the redemption function for ETH 2.0 pledge. This new feature allows users to redeem their BETH holdings into ETH on the OKX ETH 2.0 pledge page of Ouyi in a 1:1 ratio. The redemption function will be available starting April 18th, 2023 at 16:00 (UTC+8).

How Does the Redemption Function Work?

The redemption function of Ouyi’s Earned Coin is a simple process. Users can log in to the OKX ETH2.0 pledge page of Ouyi and select the “Redemption” option. They can then enter the amount of BETH they want to redeem into ETH and confirm the transaction. The ETH will be credited to their account in a 1:1 ratio.

Benefits of the Redemption Function

The introduction of the redemption function provides several benefits for users of Ouyi’s Earned Coin platform.
Firstly, it allows users to easily convert their holdings of BETH into ETH.
Secondly, it provides liquidity for users who may need to sell their BETH holdings for ETH.
Lastly, it ensures that users can redeem their BETH holdings on the same platform where they pledged it, providing a secure and trusted environment for their transactions.

Impact on the Cryptocurrency Market

With the new redemption function, Ouyi’s Earned Coin platform will likely see an increase in usage and demand. The ability to easily and securely redeem BETH holdings for ETH will attract more users to the platform. This, in turn, can lead to an increase in the price of both BETH and ETH on other cryptocurrency exchanges.

Conclusion

The redemption function for ETH 2.0 pledge on Ouyi’s Earned Coin platform is a significant development and provides several benefits for its users. With its official launch on April 18th, 2023, this feature is expected to have a positive impact on the cryptocurrency market as a whole.

FAQs

1. Can I redeem only a portion of my BETH holdings for ETH using the redemption function?
– Yes, users can redeem any amount of BETH they wish to in the redemption process.
2. Will the redemption function be available on other cryptocurrency exchanges?
– No, the redemption function will only be available on Ouyi’s Earned Coin platform.
3. Is there a fee for using the redemption function?
– Ouyi does not charge a fee for using the redemption function, however, users may incur transaction fees on the blockchain.
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