When it comes to the DeFi community there is a great deal to consider and most definitely a number of ways that you will want to look more closely at. If you’re interested in getting involved with DeFi but aren’t quite sure if it’s the right process for you then you’ll definitely want to take a closer look at OctoFi, which can give you even more benefits and even more reason to get involved with the decentralized financial market as it continues to evolve.
What is OctoFi?
First, let’s take a quick look at just what OctoFi even is. This platform is designed to offer you cash back for conducting transactions with their system. They do this for transactions that utilize decentralized finance and non-fungible token marketplaces. And with a simple transaction that you would be doing anyway, you could earn cryptocurrency, without having to do anything else. That makes it a whole lot more convenient for users and also makes even more people inclined to try out the system and see what they can do and what they can achieve.
OctoFi dApp — this part of the process is all about the application that gives you access directly to the DeFi and NFT marketplaces. Everything is done in a single location, which makes it a whole lot easier for you to get involved and try things out. And because it’s an all-in-one app it’s possible to make the connection more convenient as well.
OctoFi Wallet — with this wallet you can actually decrease your fees because they’re built-in. You’ll also be able to get even more support for the networks that you want and some of the top features related to NFT, which is going to make it easier for you to invest without the user tracking.
OctoFi Token — finally, you’ll get a token that offers governance and exclusive features as well as giving you revenue sharing. Not to mention it’s an ERC-20 and it runs on the Ethereum network, so it’s going to give you security and versatility all at the same time.
Understanding How it Works
Working with any of the referral partners for the system, through their websites or through the dApp and using the OctoFi wallet, you’ll be able to get a great benefit. That’s because those partners offer a share of revenue back to OctoFi. Because you’re benefiting them, they also benefit you. OctoFi will give you 40% of the commission that they receive back (as long as you use their wallet). Then, the rest of the commission is doled out amongst the token holders. As a result, you’ll be able to benefit yourself and token holders within the platform.
For those who don’t use the wallet, all of the commission that is earned from their transaction is submitted to the token holders. You won’t be eligible for any portion of the revenue on your own unless you happen to be a token holder.
Delving in Deep
Let’s take a little closer look at some of the different features and aspects that currently exist and that are set to come into play very soon. After we touched on each of these, it’s a good idea to look at each one a little closer to see what you can find out and how they can work for you and the needs that you have within your own decentralized financial planning. And that starts with the dApp that will allow you access to everything about this platform.
This is actually the key aspect of the entire platform and it offers you cash back through your transactions. It’s the initial product for the company and it’s designed to be as simple as possible so new people to the cryptocurrency world will still be able to feel comfortable. For those who don’t know what they’re doing this app is going to help walk them through and make the entire process a whole lot easier along the way. That’s definitely going to make for a major improvement and even more people getting started with cryptocurrency as a whole.
The wallet is not currently available through the system but it’s going to be the main point of the entire thing. It will allow you to download and immediately start carrying out transactions through referral partners, which will enable you to earn a range of cashback. This system will provide the most features and will be the cornerstone of the project. While the App is an essential aspect in order to get these benefits, you’ll need to download the wallet in order to be eligible for any of the new commission and revenue sharing that goes along with the process.
OCTO tokens are part of the governance process for the system. These tokens allow for the distribution of revenue to you and will allow you to get additional features. They can be purchased from OctoFi or from Uniswap, which provides you with a safe and secure way to get started. Your revenue share will be based on the specific, proportional amount of OCTO that you have compared to the current circulating supply. Each month there will be a snapshot taken to ensure your percentage of OCTO for the month and make sure that you are getting the amount of revenue that you are entitled to.
Payments come through in stablecoins, and are deposited directly into the wallets. There is no requirement for staking or claiming at this time. You are also required to hold equal to or larger amounts of OCTO at the end of the month as the beginning to get the revenue share. You will also not get additional rewards for OCTO that you purchase during the month but will get the benefit of OCTO that was present at the beginning of the month and is still present on the last day of that same month.
What’s Coming Next?
One of the first things that you will want to take a look at when we’re considering what’s going to be coming next is INKubator. This is a launchpad that is designed to offer decentralized, automatic ILO/Presale. It’s designed to work automatically through Uniswap trading and to connect with the liquidity locker. All of this will provide even more benefits and opportunities for those who are engaged with the OctoFi platform and especially those who are already holders of OCTO and set to participate in the initial, upcoming sale. This as the launch is being started.
The INKubator launch is going to be available for those who are just getting started and hold a small amount within the platform as well as those who hold a larger amount within the platform. Further, those who have at least 8 OCTO tokens are able to participate in private sales within the launchpad and get the first chance at trying out the new opportunities and availabilities that come along with it. Even better, the platform is striving for complete transparency for the platform and for all aspects, including the new launchpad, which means that everything will be able to be seen directly by you.
A project is able to reach out directly to OctoFi to be listed on the launchpad. They will then be investigated by Octagon to ensure that it fits the profile and that it is pre-vetted and aligned with the overall manifest. From there, it will be whitelisted (or denied). If it is whitelisted it can begin to prepare for launch and announcements will be prepared by Octagon. This means that the app does not need to worry about creating the content to fully launch the option to the rest of the community. Octagon will take care of notifying the community of what’s to come.
Those who currently hold OCTO will be able to access the INKubator app to participate in the sale of the tokens to get started. Then, Uniswap trading pairs are created and the project is able to start a liquidity lock. This launch will make it easier for investors to get started and to make sure that they are getting involved with a quality system. They will be able to get a better shot at great revenue and profits as a result of getting started this way and making sure they’re working with high end companies that know what they’re doing.
The Advanced Options
The system is actually working on a range of benefits and improvements toward the future as well. This includes the browser extension wallet that is designed for release very shortly. We’ve discussed the wallet previously and the way in which it will enable users to get a better return on their investment, even when they are working with organizations and companies that are entirely outside of OctoFi. They can use the wallet in order to earn even more money and make sure that they are getting involved in the best ways possible.
CrossChain Swap and CrossChain Bridges are two other areas where it is important to consider the benefits and opportunities. These are expected to be released soon, and are actually already in progress as of this month. This means that you will be able to get started using them soon, as the platform continues to roll out each of the different aspects and ensure that users are able to get the most out of the features and what they mean. The most important thing is simply to wait and see what is going to come next for the platform.
They have a plan throughout the rest of the year, which includes browser updates and aggregator options as well as the NFT launchpad in the second quarter of the year. It includes management of addresses offline, improvements to the launchpad and increased platform data in the third quarter of the year and even more will occur in the fourth quarter. This will include L2 options, CrossChain improvements and even OTC on-chain swap solutions. And all of this is after the platform has already achieved a large number of different milestones. Throughout the previous year, when they were begun, this platform has been able to achieve a number of features.
What Happens Next
If you’re interested in getting started with DeFi you’re definitely going to want to take a closer look at this platform and see how OctoFi can help you. This platform is definitely going to make a big difference in your investment process and it’s going to allow you the opportunity to earn revenue sharing and commission just by interacting with businesses and organizations that you would normally anyway. That’s going to be an important step in the right direction for you and the kind of return that you’re looking to get when it comes to decentralized finance and cryptocurrency as a whole.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.