Octane Finance Announces IDO after Successful Beta Testnet Launch

Octane

Octane Finance, a new decentralized limit order protocol announced its IDO date that would begin on 31st September. The IDO announcement comes after a successful Beta testnet launch that attracted more than 5K users within hours of the launch. Octane leverages existing DeFi lending/yield protocols to generate the best APY on pending limit order assets. The long-term vision is to become a highly capital efficient & rewarding trading platform built upon open-source protocols.

A limit order is an order to buy or sell an asset at a specific price (limit price) or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. Octane supercharges limit orders using open decentralized finance applications.

How Octane is Different From Existing Limit Order Providers?

Octane’s limit orders are quite different from what existing protocols such as 0X and 1Inch have to offer. Both platforms work on a maker-taker model to place and fill the limit orders. Each maker has to wait for the taker to fill the order. This means even if the limit price is reached and there is no taker, then the order will not be executed.

Octane does not use a maker-taker model for limit orders, instead, it gets execution liquidity from DeFi AMM’s. The platform wanted the limit order execution to be at most priority and hence have built a model in which the order does not have to wait for a taker if market conditions meet limit order conditions.

The key differences and advantages Octane has over 1inch or 0x or both are as follows:

Octane is a community-first platform. The team initially leads Octane Finance. As time progresses and the platform matures, the Octane community will take charge of the project. Octane Community will handle everything like deciding on new features, executor policies, partnerships, and more. Octane community will be a group of users from all across the board, including developers, traders, investors, marketers, and funds.

Tokenomics and Utility

OCTANE is a deflationary utility and governance token. The token utility is to provide protocol fees and APY generated on limit orders. OCTANE token will have a max supply of 100M.

Octane token allocation & vesting schedules are as follows:

The native token has a host of utilities and passive rewards that can help its holders not only make profits but also become a part of the governing process. Users can get up to 50% discount while paying trading fees using the OCTANE token. OCTANE holders will be responsible for governing the Octane Protocol, which includes adjusting executor policies, choosing new token pairs to support, improving governance itself, and more. Users can purchase or obtain the native token by placing limit orders to get trading discounts.

To learn more about Octane Finance visit Octane.Finance

Social Links

Twitter: https://twitter.com/octane_finance
Telegram: https://t.me/octanefinance
Medium: https://octanefinance.medium.com/
Github: https://github.com/octanefinance

 

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