About

OctoFi gives users cash back when they transact with trusted DeFi and NFT marketplaces, across multiple blockchains, through an all-in-one dApp or browser-plugin Wallet. The main objective of OctoFi is to build a community-owned decentralized finance platform, where all revenue from platform fees, partner commissions, and deployments of project reserve capital go directly to OCTO holders.

Integrations are exclusively governed by the community and the solutions gathered include fiat on-ramps/off-ramps, decentralized exchanges, liquidity pools, derivatives, lending/borrowing, NFT markets, governance voting, market data oracles, various investment opportunities, and account management tools presented through a familiar centralized exchange-like interface.

History

OctoFi was launched by an anonymous team in mid-August 2020 with no venture capital backing. Its ERC 20 native token, OCTO, was issued via a public sale on Sept. 14, 2020. 125,000 OCTO of the 800,000 OCTO maximum supply available in the sale were distributed via bonding curve between $0.18 per OCTO and $1.08 per OCTO. All 125k OCTO were sold, raising approximately $87,000 at an average price of $0.70 per OCTO.

The remaining 675,000 OCTO are distributed to the Project Reserve (275,000), the Team and Early Backers (200,000), and to the Interest Program (200,000). Project Reserve and Interest Program allocations belong to the community and provide transparent funding for protocol improvement and governance updates, and as liquidity staking rewards respectively.

In early October 2020, OctoFi team launched the Aquafarm DeFi portal which allowed users to have access to a DeFi dashboard with tools like portfolio tracking, investment opportunities, and an exchange tab integrating Uniswap. OctoFi has since launched their OctoFi DApp 2.0 release, which saw the arrival of their all-in-one platform, with many news features, providing the foundation for their ongoing integrations of third party DeFi products.