DeFi
CoinDCX DeFi Arm Okto to Launch Native Token with Massive Airdrop
CoinDCX, a leading crypto exchange in India, is set to make waves once again with the launch of OKTO, the native token of its DeFi arm, Okto. This strategic move comes alongside the unveiling of the Okto Chain, a revolutionary advancement poised to reshape the blockchain technology landscape. CoinDCX’s Okto Chain aims to simplify the complexities inherent in the web3 ecosystem
CoinDCX Prepares for Okto Chain Launch
The Okto chain appears to be a beacon of innovation, promising to democratize access to decentralized finance. Although the genesis of this transformation effort dates back to CoinDCX’s unwavering commitment to a user-centric approach. Additionally, Sumit Gupta, co-founder and CEO of CoinDCX, shed light on the company’s core vision.
He said: “At CoinDCX, our vision is to always keep users at the center of our strategy. » This perspective catalyzed the stock market’s journey toward widespread participation in the decentralized economy. Earlier, as a testament to its progressive trajectory, CoinDCX introduced Okto Wallet, a pioneering crypto wallet solution.
Additionally, the CEO of CoinDCX highlighted the strategic importance of Okto Wallet as an inaugural step towards realizing CEX’s vision of inclusiveness in the Web3 space. Meanwhile, Neeraj Khandelwal, co-founder of CoinDCX & Okto, highlighted the evolutionary phases leading to the emergence of the Okto Stealth Channel.
Khandelwal explained the challenges faced while developing Okto Wallet. Furthermore, he emphasized the central role he played in preparing subsequent innovations. In the Press releasehe remarked: “After experiencing the challenges of creating a fully abstract on-chain Okto wallet, in Phase 2 we introduced the Okto Web3 SDK. »
He added: “We are now building a complete Okto ecosystem and are proud to bring the Okto Channel out of stealth. In the future, an average Web3 user will interact with multiple chains, perform cross-chain token swaps, confirm their identity across multiple chains, and transfer NFTs from one application to another on various blockchains. This would result in fragmented liquidity and a disjointed experience for users.
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Okto to Host Major Token Airdrop
The Okto Web3 SDK represents a paradigm shift in the field of integrated wallets. It allows developers to exploit the full potential of Web3, decentralization and smart contracts. Additionally, Khandelwal said, “To engage the next billion Web3 users, simplifying these interactions through string abstraction is crucial to improving front-end usability. »
Okto Chain’s value proposition transcends simple abstraction. Additionally, it is expected to usher in a new era of interoperability and seamless user experiences. Therefore, the CEO of CoinDCX highlighted the far-reaching implications of this paradigm shift. He said: “The Okto Chain will power thousands of applications built in the web3 space, as well as several applications in our ecosystem. »
The OKTO token is an integral part of the Okto Chain ecosystem. The token is positioned as the cornerstone to ensure network security and catalyze network growth. Additionally, Gupta highlighted the strategic imperative of the OKTO token, affirming its central role in strengthening the foundations of the Okto Chain.
In addition, the launch of the OKTO token will be accompanied by a major event airdrop. CoinDCX Group has unveiled Season 1 of the Okto Wallet points program. The move was aimed at rewarding users for their on-chain transactions. In an effort to encourage engagement, all existing self-custody wallets have been awarded bonus Okto points.
These points can be consulted on the Okto website. Additionally, users trading on alternative centralized exchanges are encouraged to transfer their assets to the Okto Wallet platform. The transfer can help them earn additional bonus points.
Notably, early adopters of the Okto wallet will benefit from a substantial 7% airdrop of the OKTO token. Therefore, the team encourages interested participants to join the Okto points program. Additionally, Okto announced that all on-chain wallets are eligible for 20 million points.
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