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Decentralized finance (DeFi) platforms are becoming increasingly popular among investors seeking lucrative opportunities. Octoblock (OCTO) has captured attention with its innovative features and presale offerings, prompting comparisons with Ethereum (ETH).
Ethereum price
The Ethereum price experienced a slight decline on April 12, reflecting the overall state of the cryptocurrency market. However, despite the slow ETH price movement, analysts foresee an intriguing long-term trajectory for Ethereum. That comes after developers greenlit the inclusion of EIP-3074 in the forthcoming Pectra hard fork. This Ethereum Improvement Proposal will introduce a range of novel capabilities that enhance conventional wallets with smart contract functionalities. Notable features encompass the ability to batch multiple transactions for streamlined processing, sponsored transactions enabling external entities to cover gas fees on behalf of users, automated account management, and a wallet recovery mechanism. These potential advancements, combined with a potentially bullish market, could see the price of Ethereum soar to greater heights.
Unveiling Octoblock (OTCO)
Octoblock has emerged as a beacon of innovation in the Decentralized Finance (DeFi) landscape. It offers a balanced mix of profitability, community engagement, and philanthropy.
At the heart of Octoblock lies the Nautilus Trove. It’s an innovative system that will aggregate the protocol’s asset inflows and channel them into DeFi strategies and other investments. Thus, it generates consistent revenue while allowing for growth. Half of the revenue generated within Octoblock is earmarked for OCTO token holders. That ensures the community directly benefits from the platform’s success.
Of the profits allocated to OCTO holders, 45% will be distributed through monthly USDC airdrops. The distribution will be based on the percentage of OCTO tokens each participant holds. Moreover, the timing and value of the airdrops will not be disclosed until a snapshot is taken. It is intended to maintain fairness and prevent manipulation of the system. The remaining 5% will be allocated to Octoblock’s Saltwater Sweepstake. It’s a monthly draw that will randomly share the proceeds to addresses within the community. Holding a higher number of OCTO tokens increases the chances of winning in the Saltwater Sweepstake. It adds an element of Game-Fi excitement with rewards for committed participants.
Additionally, a percentage of the profits from the Trove will be sent to the Tentacle Trust. That’s a charitable account integrated into Octoblock. This trust will offer financial contributions to licensed charity organizations. It’ll pick organizations involved in the conservation of marine ecosystems, including the World Wildlife Fund (WWF), PADI Project Aware, and Coral Reef Alliance. The OCTO holders will directly participate in this benevolent initiative, selecting the trust’s beneficiaries through monthly votes.
The Octoblock presale
In its commitment to rewarding early backers, Octoblock has introduced a number of unique initiatives for its presale. Those include a staking mechanism incorporating every OCTO token acquired during this stage. It will attract weekly credits in the form of airdrops. The APYs (Annual Percentage Yields) are calculated based on the price of OCTO at the particular phase of the presale. Octoblock has assured investors sustainable APY ranges by leveraging Beefy Finance to generate yield returns.
Notably, the first OCTO airdrop saw a $100 investment increase to $124, denoting a massive APY of 185.5%. On April 9, the Octoblock team announced that the Nautilus Trove received its first USDC stablecoin installment. It currently constitutes 3.95% of the Total Value Locked (TVL). This event marked a significant milestone for the presale, signaling the beginning of USDC integration into the weekly airdrops. That adds another layer of value and utility. The Octoblock presale is currently in the third of its 14 phases, with the next airdrop expected on April 15.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.
