CoinDCX DeFi Arm Okto To Launch Native Token With Massive Airdrop

 CoinDCX DeFi Arm Okto To Launch Native Token With Massive Airdrop

CoinDCX, a leading crypto exchange in India, is set to make waves yet again with the launch of OKTO, the native token of its DeFi arm, Okto. This strategic move accompanies the unveiling of the Okto Chain, a revolutionary advancement poised to reshape the landscape of blockchain technology. CoinDCX’s Okto Chain aims at simplifying complexities inherent in the web3 ecosystem

CoinDCX Gears Up For Okto Chain Launch

The Okto Chain emerges as a beacon of innovation, promising to democratize access to decentralized finance. Whilst,t the genesis of this transformative endeavor traces back to CoinDCX’s unwavering commitment to user-centricity. Moreover, Sumit Gupta, Co-Founder & CEO of CoinDCX, shed light on the company’s foundational vision.

He stated, “At CoinDCX, our vision is to always keep users at the center of our strategy.” This outlook catalyzed the exchange’s journey towards enabling widespread participation in the decentralized economy. Earlier, in a testament to its progressive trajectory, CoinDCX introduced Okto Wallet, a pioneering crypto wallet solution.

Furthermore, the CoinDCX CEO underscored the strategic significance of Okto Wallet as the inaugural step towards realizing CEX’s vision of inclusivity within the Web3 space. Meanwhile, Neeraj Khandelwal, Co-Founder of CoinDCX & Okto, spotlighted the evolutionary phases leading up to the Okto Chain’s emergence from stealth.

Khandelwal elucidated on the challenges encountered during the development of Okto Wallet. In addition, he emphasized the pivotal role it played in laying the groundwork for subsequent innovations. In the press release, he remarked, “Post experiencing the challenges of building a fully chain abstracted Okto wallet, in Phase 2, we introduced the Okto Web3 SDK.”

He further added, “We are now in the process of building an entire Okto Ecosystem and are proud to bring the Okto Chain out of stealth. In the future, an average web3 user will interact with multiple chains, doing cross-chain token swaps, confirming identity across multiple chains, and transferring NFTs from one application to another across various blockchains. This would result in fragmented liquidity and a disjointed experience for users.”

Also Read: BounceBit Price Rallies 90% As Binance Extends Support For BB

Okto To Host Major Token Airdrop

The Okto Web3 SDK represents a paradigm shift in the realm of embedded wallets. It empowers developers to harness the full potential of Web3, decentralization, and smart contracts. In addition, Khandelwal stated, “To engage the next billion Web3 users, simplifying these interactions by chain abstraction is crucial for enhancing front-end usability.”

The Okto Chain’s value proposition transcends mere abstraction. Moreover, it is expected to lead a new era of interoperability and seamless user experiences. Hence, CoinDCX CEO underscored the far-reaching implications of this paradigm shift. He stated, “The Okto Chain will power thousands of applications being built in the web3 space, alongside multiple applications in our ecosystem.”

Integral to the Okto Chain’s ecosystem is the OKTO token. The token positioned as a cornerstone in ensuring network security and catalyzing network growth. In addition, Gupta spotlighted the strategic imperative of the OKTO token, affirming its pivotal role in strengthening the Okto Chain’s foundation.

Moreover, the OKTO token launch will be accompanied by a major airdrop. CoinDCX group has unveiled Season 1 of the Okto Wallet points program. The move aimed at rewarding users for their on-chain transactions. In an effort to incentivize engagement, all existing self-custody wallets have been allocated bonus Okto points.

These points can be viewed on Okto’s website. Furthermore, users trading on alternative centralized exchanges are encouraged to transfer their assets to the Okto Wallet platform. The transfer can aid them in earning additional bonus points.

Notably, early users of the Okto Wallet will benefit from a substantial 7% airdrop of the OKTO token. Hence, the team encourages interested participants to join the Okto points program. In addition, Okto announced that all on-chain wallets are eligible for 20 million points.

Also Read: Coinbase CLO Calls On Ripple, Robinhood, Binance After SEC’s Latest Mishap

✓ Share:

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source link

Related post

Receive the latest news

Subscribe To Our Crypto Newsletter

Stay informed with our curated information and offers just for subscribers.