The USDC airdrops and cFyF technology from Octoblock (OCTO) are gaining significant attention among investors, prompting a potential revaluation of investment strategies as Cardano (ADA) continues to struggle in the current market.
Cardano (ADA) price
The Cardano (ADA) price formed a V-top reversal pattern from its mid-March high of $0.81. This pattern, which represents extreme selling dominance, drove the ADA price down 45% to $0.449. The downturn has prompted investors to reconsider their strategies, particularly with news like Grayscale’s withdrawal of Cardano from its Digital Large Cap Fund (GDLC), a fund that was created to hold assets that perform well and add value to its portfolio. Analysts are watching for signs of recovery for ADA, highlighting the importance of reclaiming the 20-day Exponential Moving Average (EMA) near $0.52 and overcoming resistance levels between $0.56 and $0.625.
Understanding Octoblock (OCTO)
Octoblock is a groundbreaking Decentralized Finance (DeFi) protocol designed to foster profitability, philanthropy, and expansion.
Octoblock has a number of initiatives that will achieve this, including the Crowd Funded Yield Farming (cFyF). This innovative technology will allow DeFi participants to collectively participate in yield farming activities by pooling their resources. This will unlock access to higher-yield farming opportunities, leading to better and, consequently higher returns for all the participants without any extra costs. Being part of a cFyFpool may also grant eligibility for airdrops, further augmenting the potential returns.
The Nautilus Trove, Octoblock’s revenue system, will conduct investments in ventures like stocks and assets in addition to the DeFi strategies. This will ensure sustainable growth and revenue generation. Notably, half of the revenue generated will be dedicated to rewarding OCTO holders.
The token holders will have 45% of the profits airdropped in USDC every month, ensuring a stable and consistent stream of income. The allocation will be based on the percentage of OCTO tokens to promote equitability. Additionally, the exact time and value of the airdrops will be confidential until a snapshot of holders is taken. This will ensure security and fairness by preventing manipulation by users who might want to temporarily buy and hold OCTO just for the airdrops. The remaining 5% will be distributed randomly through Octoblock’s Saltwater Sweepstake, where each OCTO token held by an address will count as a single entry, with a higher number of entries increasing chances of winning.
The Octoblock ICO: Adding USDC airdrops
Octoblock introduced ICO (Initial Coin Offering) staking as an expression of gratitude to its early investors and to ensure that capital is actively employed throughout the stage. OCTO tokens purchased during the ICO are automatically included in a staking mechanism that provides weekly credits through airdrops. The Annual Percentage Yields (APYs) are calculated to reflect the OCTO price during each phase and are prominently displayed on the website to ensure transparency. Notably, Octoblock will utilize yield optimizers like Beefy Finance to ensure that its APYs remain captivating in the near term but also viable and constant over the long term.
The first Octoblock ICO airdrop was held on April 9, and it provided an outstanding APY of 185.5%. Building on this success, Octoblock made good on its commitment to diversify rewards by announcing the allocation of USDC to the Nautilus Trove. The second airdrop on April 15 further solidified Octoblock’s innovative approach, combining USDC and OCTO tokens to provide investors with a competitive APY of 165%. The next Octoblock ICO airdrop is scheduled after Phase 4, which is selling OCTO at $0.038 with a 12% bonus.
Conclusion
Opportunities for passive income are often the Holy Grail for investors. Octoblock, with its innovative cFyF mechanism and USDC airdrops, challenges the notions of why one should invest in cryptocurrencies like Cardano (ADA) when avenues for consistent returns are readily available elsewhere.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
