Yes, it's OK. It's a very good way to absorb nutrients (nitrate) from the water. If a bit gets eaten, it's not a problem. Axies can't digest plant material, but it just passes through.
I have it in my tank, it's perfectly fine.
As Jennewt says, it's very good at clearing algae causing nutrients - and if you have goldfish or koi in another tank - they LOVE to eat it as food when you get too much.
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