We’re very excited to announce that Octopus Protocol is the next revolutionary DeFi protocol to be launching an IDO on Ignition. Octopus Protocol facilitates an open-financial infrastructure by allowing users to create, settle, and exchange synthetic assets. Octopus Protocol offers a unique way for DeFi users to get exposed to real-world assets. Here are some dates you should watch out for if you want to participate:
📋 Whitelist Start: June 02, 2021; 2PM UTC
⏰ Whitelist Close: June 05, 2021; 4AM UTC
🚀 IDO on Ignition: June 11, 2021; 11AM UTC
🔗 CHAIN: Binance Smart Chain
🔒➡️🔓 Vesting Period: 40% released on Ignition Redeem, then every week 20%
Join the whitelist lottery for Octopus Protocol on Ignition HERE!
What is Octopus Protocol?
The current landscape of the financial derivatives market is restricted. It holds counterparty risks which are highly dependent on intermediaries and are bound to geographical limitations. It is an overall costly process. The experience of owning and trading derivatives is expensive and tedious, with many risky factors. The restrictions and requirements of engaging with derivatives have led to limited access to this financial instrument.
Octopus Protocol offers investors the advantages of engaging with assets – including commodities, stocks, digital assets, and more without the regulatory requirements and hassle associated with real-world assets. Octopus Protocol derivatives are not backed by the corresponding real world asset. Instead, synthetic tokens track the price of the underlying asset and give exposure to the price through the use of oracles.
Octopus Protocol facilitates the trading of any assets. Synthetic tokens that correspond to cryptocurrencies, futures, bonds, indices, stock, commodities, and more can all be created on the protocol. With the recent increase in volatility on the crypto market, Octopus Protocol offers investors the means to invest in much more stable assets like bonds and indices without taking their capital off-chain.
How It Works
Built on BSC, the Octopus Protocol is an affordable solution for the creation of synthetics that minimizes the amount of collateral required. The ecosystem encompasses four different products to make this possible. These products encompass a decentralized derivatives exchange, asset management, social trading and options trading.
Asset managers have limitless possibilities to create their own tokens or baskets of tokens and connect directly to investors in a peer-to-peer, decentralized infrastructure. Octopus Protocol will feature minimal use of oracles reducing any security concerns or worries about market manipulation.
Oracle is the first protocol on BSC that provides a token minting facility with minimum to no collateral required.
Behind The Team
Octopus Protocol was founded by Obaid Bin Touq, who was listed by Forbes Middle East as the 11th most influential business leader in the UAE region. He has combined his 10 years of experience in the blockchain industry with advisors from leading firms of commodities, asset management, banking, and financial solutions.
Firms associated with Octopus Protocol’ advisors include SEBI, Citibank, McAfee, First Abu Dhabi Bank and many more.
The $OPS token will accrue value from platform fees paid for engaging and accessing the services on the Octopus Protocol Ecosystem. Everything from creating synthetic assets to exchanging derivatives on the trading platform will add value to $OPS.
On top of that, $OPS can be used by participants to govern the Octopus Protocol, ensuring consensus about decisions and a decentralized network. $OPS can also be staked for rewards or used to incentivize actions across the Octopus Protocol EcoSystem.
Total Supply: 150,000,000
Join Octopus Protocol’s DeFi revolution: enter the whitelist lottery HERE.
*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Octopus Protocol specific restricted KYC countries, check HERE.
**Tokens in circulation may be lower than the total market supply as the supply depends on the number of tokens purchased.
***Octopus Protocol is a BEP-20 project being launched on the Binance Smart Chain. If you are participating in the whitelist please see our instructions article about connecting your Metamask wallet to the Binance Smart Chain in order to be able to redeem BEP-20 tokens.
About Octopus Protocol
Octopus Protocol is an open protocol facilitating the creation, exchange, settlement, and management of synthetic assets. Assets minted on Octopus Protocol require little collateral and minimal use of oracles. Any type of centralized financial asset can have a synthetic equivalent minted on Octopus Protocol allowing investors to participate in any market without the regulations associated with traditional markets.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol which allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform, it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
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