New DeFi Altcoin Blazes Through Phase One As Dogecoin Holders Rotate Profits

As Dogecoin's meteoric price rise continues to capture headlines, investors who gained profits appear to be capitalizing on the new Defi altcoin known as Octoblock (OCTO) to potentially gain higher returns.

Dogecoin price

The Dogecoin (DOGE) price recently surged by more than 10%, making it first among the best-performing cryptocurrencies in the top 20. This increase saw DOGE achieve a monthly close above the critical $0.20 threshold, potentially solidifying it as a support level that could pave the way for a rally towards $0.30. 

Exploring Octoblock (OCTO): The new DeFi altcoin primed for success

Octoblock has captured the attention of investors and DeFi enthusiasts with its innovative approach to Decentralized Finance (DeFi) and ICO (Initial Coin Offering) development. 

This DeFi protocol aims to cultivate a profitable, philanthropic, and expansive ecosystem through various strategic initiatives. One of its key initiatives is the Crowd Funded Yield Farming (cFyF). This technology will allow users to combine their resources into shared yield pools and collectively participate in yield farming activities. By pooling their capital, participants gain access to higher-yield farming rates, leading to increased returns. Additionally, cFyF participants receive governance rights, significantly enhancing their influence within the DeFi ecosystem.

Octoblock's revenue-generation system, Nautilus Trove, will ensure a balanced mix of stability and growth by distributing the ecosystem's asset inflows to DeFi strategies and across various investments. OCTO token holders will benefit from this system, receiving 45% of the revenue based on their holdings. They will also gain access to Octoblock's Saltwater sweepstakes, where 5% of profits will be allocated randomly, with higher token-holding addresses having greater chances of winning. A share of the protocol's profits will also go to its charitable account, the Tentacle Trust. This trust will be used to fund charitable organizations committed to the conservation of marine ecosystems, with OCTO holders voting monthly to select the beneficiaries.

Moreover, Octoblock will launch a cross-chain platform known as Coral Cove. This platform will combine asset swapping and bridging functionalities, ensure high security, require low transaction fees, and optimize transaction routes through liquidity aggregation. This will simplify inter-blockchain asset management, offering users unprecedented functionality and convenience.

The Octoblock ICO

The Octoblock Initial Coin Offering (ICO) has progressed swiftly, entering phase 3 just 10 days after its launch. OCTO tokens are currently selling at $0.037, with investors getting a 13% bonus. What distinguishes Octoblock's ICO is its immediate inclusion of purchased tokens into a staking mechanism, rewarding investors with weekly account balance credits. The Annual Percentage Yields (APYs) are calculated based on the OCTO token price at each specific phase, ensuring that investors can earn rewards while contributing to the project's growth. Octoblock also plans to enhance stability by integrating USDC alongside OCTO tokens in the distributions.

To further incentivize participation and show commitment to environmental sustainability, Octoblock is hosting a Tesla giveaway, with each token purchased during the ICO equating to one entry. A lucky winner will be chosen at random, adding another layer of excitement and value to the Octoblock ICO experience.

For more information on Octoblock:

Website: https://octoblock.io/

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