How to Deposit MKR on OKX | MakerDAO Funding Guide
If you already hold MKR in a wallet and want to deposit it to OKX, the most important step is choosing the right network. MKR is an ERC-20 token on Ethereum, and selecting the wrong network (e.g., Polygon or Arbitrum) will result in permanent loss of funds. If you don't have MKR yet, buying it directly on OKX with USDT is simpler.
1. Confirm Which Network Your MKR Is On
What to do: Determine which blockchain your MKR is on – whether it's ERC-20 (Ethereum Mainnet), Polygon (which has integrated MKR), or another L2 network.
How to do it:
Scenario A: Your MKR is in an on-chain wallet (e.g., MetaMask, OKX Web3 Wallet). Open the wallet and check the network name:
If it shows "Ethereum Mainnet" → choose the ERC20 network for deposit
If it shows "Polygon" → choose the Polygon network for deposit
If it shows "Optimism" or "Arbitrum" → choose the corresponding L2 network
OKX integrated the Polygon network as early as 2021, supporting MKR deposits and withdrawals on Polygon. This means you have more than one network option.
Scenario B: You do not yet own MKR. You don't need to deposit; just buy it directly on the OKX exchange. Open OKX, search for the "MKR/USDT" trading pair, and buy with USDT.
When is this step done: You have clearly answered "which network my MKR is on" and you know the corresponding OKX deposit network to select.
Prerequisites: You must have completed OKX identity verification (KYC). Unverified accounts cannot deposit.
Common mistake: Assuming MKR is only available on ERC20. OKX also supports MKR deposits on Polygon. If your wallet holds MKR on Polygon but you select ERC20, the funds will not arrive.
2. Get Your Deposit Address on OKX
What to do: Go to the "Deposit" page on OKX, search for MKR, select the correct network, and obtain the deposit address.
How to do it:
Open the OKX app, tap Assets at the bottom, then choose Deposit.
Search for "MKR".
Choose the network: This is the most critical step. Select the network that matches your determination from step 1 (ERC20, Polygon, etc.).
The page will display:
Deposit address (a string of characters and a QR code)
Minimum deposit amount (source: OKX Help Center, 2026-07-08)
Important reminder: If the deposit amount is less than the minimum shown on this page, the funds will not be credited and cannot be returned. The minimum amount differs by network, so always confirm before proceeding.
When is this step done: You have copied the deposit address, noted the corresponding network, and checked the minimum deposit amount.
Prerequisites: You can log in to your OKX account.
Common mistake: Copying the address without double-checking the network and then initiating the transfer. MKR has different contract addresses on different networks; choosing the wrong network means your assets will never reach your OKX account.
3. Initiate the Transfer from Your Wallet
What to do: Open your on-chain wallet and send MKR to the address you copied in step 2.
How to do it:
Open your wallet (e.g., MetaMask, OKX Web3 Wallet).
Verify that the wallet's current network exactly matches the network you selected in step 2.
If you chose ERC20 on OKX → switch your wallet to Ethereum Mainnet
If you chose Polygon on OKX → switch your wallet to Polygon
Choose "Send" or "Transfer", and paste the OKX deposit address.
Enter the amount (make sure it is not less than the minimum shown on OKX).
Confirm the gas fee and sign the transaction.
MKR is an ERC-20 token, so transfers require gas fees in the native token of the corresponding network – ETH for Ethereum Mainnet, MATIC for Polygon.
When is this step done: Your wallet shows the transaction as submitted and provides a transaction hash (Tx Hash). You can see the "Pending" status on a block explorer.
Prerequisites: Your wallet holds enough gas fee tokens.
Common mistake: Insufficient gas fees causing transaction failure. Gas fees on Ethereum Mainnet can be high during congestion; consider using gas price tools to time your transaction.
Risk warning: Blockchain transactions are irreversible. If you enter the wrong address or choose the wrong network, your funds cannot be recovered. If this is your first deposit, send a small test amount first, confirm it arrives, and then send the remainder.
4. Wait for Confirmation and Check the Balance
What to do: Wait for blockchain confirmations and verify that MKR appears in your OKX spot account.
How to do it:
Confirmation times vary by network: ERC20 typically takes 10–30 minutes, Polygon usually 1–10 minutes.
You can check the deposit status under Assets → Deposit History on OKX.
Once the status changes to "Completed", MKR will appear in your spot balance.
When is this step done: Your OKX "Spot Account" displays the MKR balance, ready for trading or withdrawal.
Prerequisites: The transfer has been submitted.
Common mistake: The transfer amount is below the OKX minimum deposit threshold. If the amount is too small, the system may be unable to credit it. Always confirm the minimum deposit amount for that network on the OKX page before depositing.
5. Buy MKR Directly on OKX (If You Don't Have Any Yet)
What to do: If you don't already hold MKR, there's no need to go through the deposit process – buying it directly on OKX with USDT is much simpler.
How to do it:
Make sure your account has USDT. If not, deposit funds first via bank transfer, credit card, or C2C. Bank transfers usually process within 1–3 business days.
Go to Trade → Spot, and search for "MKR/USDT".
Choose a market order for instant execution or a limit order to set your desired price.
Once filled, MKR will appear in your spot account.
OKX spot trading fees are 0.08% maker and 0.10% taker (source: OKX, 2026-07-08).
When is this step done: Your spot account shows the MKR balance.
Prerequisites: Your OKX account is fully KYC-verified and holds a USDT balance.
Common mistake: Buying "DAI" instead of "MKR". MKR is MakerDAO's governance token, while DAI is a stablecoin; the two are completely different. Double-check that you're trading the "MKR" pair before placing your order.
What to do next:
Already have MKR on-chain: Follow steps 1–4. Start with a small test amount (e.g., 0.1 MKR), confirm it arrives, then transfer the rest. Arrival typically takes 10–30 minutes (ERC20).
Don't have MKR yet: Go straight to step 5. Search for MKR/USDT on OKX and buy with USDT, saving the deposit steps and gas fees.
