As Cardano (ADA) experiences significant declines, Octoblock’s unique features are making it easier for investors to earn USDC from staking.
Cardano news
Despite its historical prominence and extensive adoption, Cardano (ADA) has struggled to retain its position, falling to tenth place in market capitalization rankings. With a 21.93% price decrease over the past month, ADA investors are raising concerns about the token’s resiliency and ability to compete effectively in the rapidly evolving market.
Looking at the daily chart reveals that ADA is trading at a critical support level of $0.57, which has acted as a price floor for some time. Analysts caution that if this immediate support level is breached, the next significant support level could be at the $0.47 level.
Decoding Octoblock
Octoblock, while being a new entrant in the Decentralized Finance (DeFi) space, has gained significant attention from investors and enthusiasts for its commitment to providing a seamless, engaging, and profitable experience for its users.
By holding OCTO tokens, users will gain access to 45% of Octoblock’s profits generated through the Nautilus Trove. These rewards will come in the form of monthly USDC airdrops, creating a consistent stream of value for token holders. The timing of the airdrops and the recording of the treasury value will be very carefully coordinated but won’t be made public until a snapshot of holders is taken. This strategy deters users from engaging in short-term tactics to qualify for the airdrop, ensuring that only genuine holders benefit. Additionally, the USDC rewards will be directly proportional to the percentage of OCTO tokens held. For example, if an individual possesses 0.03% of the non-LP OCTO supply at the snapshot time, they will receive 0.03% of the USDC allocated for that month’s airdrop.
Moreover, each OCTO token possessed by an address will be regarded as a single entry into Octoblock’s Saltwater Sweepstake. This sweepstake is designed to allocate proceeds randomly to selected addresses in the OCTO community, with the probability of winning increasing based on the number of tokens held. This system adds a layer of Game-Fi in Octoblock and provides an extra incentive for holding OCTO tokens, strengthening community engagement.
To ensure a more seamless user experience, Octoblock will launch a comprehensive platform that will facilitate both bridging and swapping of assets across a number of blockchain networks. The platform will also ensure high security, low fees, and efficiency through liquidity aggregation, eliminating the complexities and inefficiencies associated with cross-chain transactions.
Understanding Octoblock’s ICO staking
Octoblock introduced a groundbreaking initiative to reward early OCTO believers. Every OCTO token acquired during the Octoblock Initial Coin Offering (ICO) is automatically included in a staking mechanism that provides investors with weekly credits directly to their accounts. In addition to OCTO tokens, Octoblock will also include USDC stablecoins in the airdrops to add an extra layer of stability. Collaborating with Beefy Finance further enhances Octoblock’s APY sustainability, ensuring consistent returns for investors.
The first OCTO airdrop on April 9 marked a significant milestone in Octoblock’s ICO journey. In the allocation, an original investment worth $100 increased to $124, denoting an extraordinary APY of 185.5%. This impressive return underscored the potential for substantial gains for early investors.
Furthermore, Octoblock announced the commencement of USDC airdrops alongside OCTO tokens after the Nautilus Trove received its first installment of the stablecoins. With the next airdrop expected on April 15, more investors are joining the Octoblock ICO to secure their position in the project’s lucrative rewards program.
To get more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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