With growing concerns about re-staking Ethereum (ETH), the Octoblock (OCTO) ICO has emerged as a viable option for individuals wishing to stake.
Ethereum (ETH) re-staking
The Ethereum (ETH) ecosystem has seen a proliferation of restaking, a mechanism that allows users to stake tokens on the main blockchain and secondary protocols. This allows you to secure multiple networks and potentially receive additional rewards. This trend is attracting significant investment, particularly within the EigenLayer protocol, which boasts a staggering $12.4 billion in Total Value Locked (TVL). Restaking has also led to the emergence of Liquid Restaking Tokens (LRTs), which are tradable assets stored in protocols like EigenLayer.
A recent report by Coinbase raised concerns about this growing phenomenon on Ethereum. One of the big concerns is the discrepancy between expected and actual revenue from actively verified services (AVS). High expectations for high returns may not materialize as expected and investors may become disillusioned. Additionally, intense competition among LRT operators to offer the best rewards can lead to risky practices such as excessive restaking to attract and retain investors.
What is Octobloc?
Octoblock (OCTO) is a new DeFi (decentralized finance) protocol built on the Binance Smart Chain. The Protocol will bring about various initiatives aimed at achieving profitability, expansion and philanthropy.
The income generation system known as Nautilus Trove collects asset inflows from the protocol and uses a dual strategy to allocate them to DeFi strategies and decentralized investments. The OCTO token holder will share his 45% of the generated revenue based on the percentage of the token supply he owns and will also be eligible for Octoblock’s Saltwater Sweepstakes. In this sweepstakes, 5% of the proceeds will be distributed to randomly selected addresses, with the chances of winning increasing depending on the number of tokens an address holds. A portion of the profits will also go to his Octoblock Tentacle Trust, from where it will be used to support organizations focused on protecting and preserving the ocean and marine life.
Octoblock also aims to foster interoperability between blockchain networks and is launching a cross-chain platform that enables asset exchange and bridging. The platform ensures high security standards, low trading fees, and strategically optimized trading to maximize users' financial operations. Additionally, Octoblock's cFyF (Crowd Funded Yield Farming) mechanism allows participants to work together to access high-yield farming opportunities, increasing profits.
Octoblock ICO event
The Octoblock Initial Coin Offering (ICO) is currently in its second phase, where OCTO tokens will be sold for $0.036 and investors will earn a 14% bonus. What makes Octoblock's ICO event stand out most is its unique approach to token distribution. The protocol instantly incorporates the acquired OCTO tokens into the staking mechanism, allowing investors to earn rewards immediately. The reward will be deposited weekly and the annual percentage yield (APY) will be calculated based on his OCTO price at that particular stage.
What’s even more appealing is that Octoblock is considering integrating USD Coin (USDC) with OCTO tokens during distribution, which would greatly enhance APY calculations for ICO staking. Octoblock further differentiates itself by leveraging Beefy Finance to generate yield and ensure APY remains within a sustainable range. The project also combines community engagement with a commitment to environmental sustainability by hosting a Tesla giveaway exclusively for ICO participants. Each OCTO token purchased is equivalent to his one entry in this giveaway, and the winner will be selected at random.
For more information about Octoblock, please visit:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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