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Huge USDC Rewards For Octoblock Holders Signal Growing Trend Within DeFi

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With groundbreaking projects like Octoblock (OCTO) offering stablecoin rewards, crypto watchers are suggesting that this could be the new trend in DeFi.

What is DeFi?

Decentralized Finance (DeFi) refers to a rapidly growing ecosystem of financial applications and protocols built on blockchain technology. Unlike traditional finance, which relies on centralized institutions like banks and exchanges, DeFi utilizes blockchains’ smart contracts to automate and execute transactions. This allows users to interact directly with their digital assets and participate in various financial activities such as lending, borrowing, trading, and staking. This decentralized nature reduces transaction costs and increases accessibility, making DeFi an innovative and disruptive force in the world of finance.

USD Coin news

On April 11, financial technology firm Circle made waves in the stablecoin space by unveiling smart contract functionalities tailored for users of the Blackrock USD Institutional Digital Liquidity Fund (BUIDL). This development allows BUIDL shareholders to seamlessly convert their shares into USD Coin (USDC) directly through Circle’s platform. This integration marks a significant step in bridging traditional financial instruments with the world of digital assets, providing increased liquidity and flexibility for investors looking to leverage the benefits of stablecoins like USDC within institutional frameworks.

Understanding Octoblock and its USDC rewards

Octoblock has garnered attention from seasoned investors and DeFi enthusiasts due to its revolutionary approach to decentralized finance (DeFi).

At the heart of Octoblock’s strategy is the Nautilus Trove, a system designed to collect asset inflows and strategically allocate them to DeFi strategies and diversified investments, striking a balance between constant revenue and expansion potential. One of the standout benefits for OCTO holders is getting 45% of the Trove-generated profits. These rewards will be distributed through monthly USDC airdrops, ensuring holders receive a stable stream of revenue. 

The timing and value for Octoblock’s monthly USDC airdrops will remain private until a complete snapshot of holders is conducted. This precautionary measure prevents potential manipulation of the system by users attempting to exploit temporary asset holdings for airdrop eligibility. Furthermore, Octoblock will ensure equitability by allocating USDC proportional to the percentage of OCTO supply held. For example, an individual having 0.04% of the non-LP OCTO supply at time of the snapshot will receive 0.04% of the USDC assigned for that month’s airdrop.

OCTO holders also gain an entry into Octoblock’s Saltwater sweepstake for every token owned. This innovative sweepstake will disburse an additional 5% of profits to randomly selected addresses. The odds for winning the sweepstakes will increase with the number of entries, introducing engaging and rewarding Game-Fi elements within Octoblock’s ecosystem.

Octoblock’s revolutionary approach extends to its Initial Coin Offering (ICO), introducing a staking model that seamlessly integrates every OCTO token purchased during the whole campaign. This ensures investors immediately start earning rewards, which are delivered weekly through airdrops. The APYs (Annual Percentage Yields) for these airdrops are dynamically calculated based on OCTO’s price during each ICO phase, with Octoblock leveraging yield optimizers like Beefy Finance to ensure sustainable ranges.

The first Octoblock ICO airdrop showcased the platform’s potential with an impressive APY of 185.5%, suggesting that a $1000 investment increased $1240. After this success, Octoblock announced the allocation of USDC to the Trove, constituting 3.95% of the current TVL (Total Value Locked). This move marked the beginning of USDC additions to the weekly ICO airdrops, adding stability and diversification to the rewards structure for OCTO holders.

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