With the Bitcoin (BTC) halving drawing near, astute investors are looking for altcoins to invest in as they anticipate a rally following this event. Among the myriad of altcoins, Octoblock (OCTO) has emerged as a gem within the ICO landscape.
BTC halving impact on altcoins
Bitcoin halving is a pivotal event occurring roughly every four years, where the reward for mining BTC is halved, leading to an increase in mining difficulty. This event has historically triggered a decline in Bitcoin’s dominance and a surge in the market capitalization of altcoins in the months after. After the second halving in July 2016, Bitcoin’s dominance dropped from 98.33% to under 40% in 18 months, with altcoins gaining over $286.5 billion in market capitalization. Similarly, after the third halving in May 2020, Bitcoin’s dominance fell from 66.43% to 40%, while the altcoin market cap soared from $90.11 billion to $1.229 trillion within 12 months. This trend underscores the growing relevance and investment potential of altcoins following Bitcoin halving events.
Understanding Octoblock (OCTO): A new altcoin gem poised for massive gains
Octoblock has gained attention in its early stages due to its unique approach to decentralized finance (DeFi) and ICO development. The protocol seeks to develop a comprehensive ecosystem with diverse features and services that cater to a wide range of needs.
For example, DeFi users will be able to maximize their returns through Octoblock’s Crowd Funded Yield Farming (cFyF) technology. The cFyF will work by allowing participants to contribute their resources in communal pools and cohesively engage in yield farming activities. This collaboration unlocks access to higher-yield farming opportunities, maximizing returns for all contributors.
Additionally, Octoblock’s Tentacle Trust will provide financial aid to charitable organizations focused on the preservation and conservation of marine ecosystems. The funds for the trust will be sourced from Octoblock’s treasury and revenue-generation system, Nautilus Trove. OCTO holders will vote monthly to choose the trust’s beneficiaries, guaranteeing their involvement in the philanthropic cause.
OCTO holders will be rewarded significantly for their participation, getting 45% of the revenue generated. This will come through USDC airdrops based on the percentage of the token supply they own. The token holders will also gain an entry into Octoblock’s Saltwater Sweepstake for every OCTO token they own. Saltwater is designed to distribute an additional 5% of profits from the Trove to select addresses within the OCTO community. The more entries an address has, the higher the chances of winning the sweepstake.
Octoblock ICO staking
Octoblock has arranged a number of groundbreaking initiatives to reward its Initial Coin Offering (ICO) investors, including a staking mechanism that will automatically include any tokens bought during the event. This mechanism will provide weekly payouts through airdrops, with the Annual Percentage Yields (APY) dynamically calculated to reflect OCTO’s price during each stage of the offering. Notably, Octoblock will leverage Beefy Finance to create sustainable APY ranges, assuring investors of consistent and rewarding returns.
The first OCTO airdrop occurred on April 9th and provided an outstanding APY of 185.5%. This meant that a $100 investment grew to $124, showcasing the substantial returns possible for early investors in the Octoblock ICO. With the potential introduction of USDC alongside OCTO tokens in subsequent airdrops, the project has significantly expanded its appeal and diversified its treasury value. The next airdrop is expected on April 15th, and the Octoblock ICO is currently in Phase 3 of 14, selling OCTO at $0.037 with a 13% bonus.
Conclusion
As investors seek opportunities beyond Bitcoin (BTC), Octoblock’s impressive 185% APY stands as a testament to its potential for growth and profitability. With a potential altcoin rally on the horizon, this unique altcoin’s offerings could see it soar to new heights in the crypto market.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
