Recent analyses suggest that Octoblock (OCTO) is attracting more Solana (SOL) users with news of stablecoin rewards during ICO.

Solana price

The Solana price has faced a significant downturn, losing 10% of its value after failing to breach the resistance level at $206 twice. Sellers are now at the critical support level, aiming to drive the price below $164. Maintaining above the key support is crucial for the SOL price to prevent further decline. However, the 3-day Moving Average Convergence Divergence (MACD) indicator just formed a bearish cross, indicating a shift in momentum favoring the bears. Analysts suggest if the support level at $164 is breached, it could pave the way for bears to target $130 next.

What is Octoblock?

Octoblock is a new decentralized finance (DeFi) protocol designed to meet diverse financial needs through a range of initiatives. One of the protocol's standout features is its Crowd Funded Yield Farming (cFyF) mechanism. The cFyF will allow DeFi participants to merge their funds into a communal yield pool and engage collectively in yield farming activities. The combined capital will provide access to higher-yield farming opportunities, resulting in more significant returns than what individuals could achieve on their own. 

Additionally, OCTO holders are entitled to 45% of the profits generated by Octoblock's revenue-generating system, the Nautilus Trove. These profits will be distributed monthly through airdrops in USDC, a stablecoin pegged to the US dollar. Octoblock's airdrop process is meticulously orchestrated to ensure fairness and prevent manipulation, with the exact timing and asset values kept confidential until a snapshot of holders is taken. Additionally, the USDC allocation to holders will be proportional to their share of the holdings. For instance, if an individual possesses 0.21% of the non-LP OCTO supply at the snapshot moment, they will receive 0.21% of the USDC allocated for that month's airdrop.

OCTO holders will also gain entry to Octoblock's exciting sweepstake, Saltwater. This sweepstake will allocate 5% of the profits to randomly selected addresses within the community, offering tangible rewards alongside entertainment.

Octoblock's innovation will spread to cross-chain interoperability products, ensuring users can efficiently manage their assets across different blockchain ecosystems. The protocol will also include charitable trust accounts that will empower users to contribute to licensed charity organizations, bridging the gap between DeFi investments and meaningful societal impact.

The Octoblock ICO

Octoblock stands out further by integrating a unique staking mechanism into its Initial Coin Offering (ICO). Investors purchasing OCTO tokens during the ICO are immediately enrolled in a staking program that rewards them with weekly airdrops. Transparency and clarity are paramount for Octoblock, and they ensure this by prominently displaying the Annual Percentage Yield (APY) on their official website. This APY is calculated based on OCTO's price during the specific ICO phase, providing investors with a clear understanding of the potential returns on their investment.

The Octoblock team made headlines with the announcement of their first OCTO airdrop on April 9. At the time of allocation, $100 worth of OCTO was valued at $124, translating to an outstanding APY of 185.5%.  The team also revealed that the Nautilus Trove had received its first USD Coin (USDC) installment, which currently accounts for 3.95% of the treasury value. This event marked the beginning of potential USDC airdrops alongside OCTO for ICO investors,  with the first one expected on April 15.

Receiving stablecoins during the ICO not only adds immediate value but also diversifies rewards, offering investors additional stability and flexibility in their investment strategy. 

To get more information on Octoblock:

Website: https://octoblock.io/

Buy OCTO: https://reef.octoblock.io/register