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OKX and Circle Join Forces to Introduce Feeless USDC Transactions

Cryptocurrency exchange OKX announced the integration of USDC features into the OKX Wallet and the OKX DEX aggregator. This partnership’s primary goal is to facilitate gasless USDC transactions, completely eliminating network fees and enabling cross-chain USDC swaps across a variety of blockchains, media reports said.

The integration of OKX’s DEX aggregator with Circle’s Cross-Chain Transfer Protocol (CCTP) now enables smooth, fee-free transactions across seven blockchain networks: Ethereum, OKTC, BNB Chain, Polygon, Optimism, Arbitrum One, and Avalanche C. This development represents a significant advancement in user-friendly, permissionless on-chain functionality, allowing USDC to flow seamlessly within diverse blockchain ecosystems.

Running from September 7 to October 5, 2023, the “USDC Zero Network Fee Campaign” empowers OKX Wallet users to send, receive, and swap USDC without incurring any network fees, provided they utilize the wallet’s Smart Account feature. The Smart Account, introduced on August 2, 2023, employs account abstraction technology to streamline USDC transactions across various blockchains.

Participants in the campaign can make use of the quick-swap feature to enjoy up to five feeless transactions per day per device, with the total reward and feeless transaction count resetting daily at 4:00 pm UTC.

To qualify for this campaign, participants must hold a minimum of 10 USDC in their wallet, excluding unofficially released assets like USDC.e from the total asset calculation. Each transaction is eligible for a maximum waiver of 5 USDC, and transactions exceeding this limit in network fees will not qualify for a fee waiver.

In cases where the daily limit for waived fees is reached, feeless transactions will temporarily pause, but this will not affect the wallet’s ability to conduct feeless transactions the following day.

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