Covalent is proud to announce a strategic partnership with OKX, one of the world's largest cryptocurrency exchanges and a global onchain technology company, to offer high-yield CXT staking through their platform. OKX is now operating Ethereum Wayback Machine (EWM) infrastructure as a Block Specimen Producer, marking a significant step in their journey toward decentralized operations.

Why Run the Ethereum Wayback Machine?

The Ethereum Wayback Machine (EWM) is a vital DePin initiative that preserves and verifies the long-term historical data of Ethereum. As Ethereum scales with Layer 2 solutions like rollups targeting Gigagas level capacity, accessing and maintaining its vast transaction history becomes more complex. The EWM addresses this by providing a decentralized, verifiable archive that ensures the integrity and accessibility of Ethereum’s historical records. This initiative not only protects the integrity of Ethereum’s data but also ensures its availability for downstream systems like decentralized compute and AI that all rely on accurate blockchain history​​. OKX's commitment to operating EWM infrastructure demonstrates their support for Ethereum's long-term sustainability.

Staking Details for CXT Holders and OKX Users

OKX offers enhanced yields for CXT token delegation through their platform. The staking process is straightforward:

• Create an OKX account or use your existing one

• Access the staking interface in the OKX app

• Begin delegating CXT tokens to earn premium yields

Note: CXT staking on OKX operates independently from the Covalent staking dashboard. Through OKX's user-friendly interface, both new and existing eligible users can easily participate in supporting the EWM infrastructure.

The Future is Decentralized

OKX plays a vital role in crypto adoption by providing an accessible gateway to decentralized finance. Adopting decentralized technologies isn’t just about self-preservation, it’s also in response to growing user demand for more secure and transparent systems. By embracing decentralized infrastructure, OKX combines the user-friendly experience of centralized exchanges with the enhanced security and transparency of blockchain technology. This hybrid approach delivers the best of both worlds: the simplicity users expect with the robust architecture that Web3 enables.

Covalent looks forward to seeing the results of this broader trend to decentralize centralized institutions by actively participating and contributing to a decentralized world.
Long Live Ethereum.

Try delegating your CXT by staking on OKX now!