What is Octopus Protocol?
The Defi breakthrough Octopus Protocol enables unparalleled exposure to real-world cryptoassets. Octopus is a reliable protocol that offers a one-stop shop for synthetics administration, lending, trading, and issuing. A protocol built on the Binance Smart Chain (BSC) network uses a decentralised, open infrastructure to settle financial derivatives without the need for a middleman.
Octopus asserts in the problem statement that financial derivatives are constrained, subject to counterparty risk, and heavily dependent on third parties. In this context, trading assets or derivatives carries a significant level of risk and expense, which might result in imbalanced market dynamics. By harnessing the benefits of tokenization on the blockchain and utilising a decentralised infrastructure for the production and management of synthetic assets, Octopus is delivering a solution.
highlighting a feature In comparison to other providers, Octopus offers a reasonable and less expensive option because its protocol will reduce collateral while producing synthetic assets. A built-in infrastructure that lacks trust will remove obstacles to trade and enable quick settlement of derivatives. Each built-in token can track the price of any available asset in real time, and users may design their own financial contracts with customised options that allow for comparisons between different assets.
Octopus Protocol Price Prediction
|Month & Year||OPS Price Prediction|
Octopus Protocol Overview
|Project name||Octopus Protocol|
|Based on||Synthetic asset|
|Exchange Platform||Kucoin, Uniswap, Kucoin|
|Wallet||Metamask, Trust Wallet|
Octopus Protocol IDO Overview
|Platform used||ProStarter, Bounce, Paid Network, TrustPad|
|Date of ICO||11th June to 13th June 2021|
|IDO Price||$0.15 USD|
|Partners||Bet You, Moma, Flourishing Capital, Token Suite, bullish unicorn, ICO Pantera.|
Octopus Protocol Price Analysis
OPS is the native utility token of the Octopus Ecosystem and is based on the BEP-20 token standard, which was developed on the BSC network. OPS token market volume was produced by platform fees charged for using and accessing Octopus’s goods and services. OPS is primarily utilised for three purposes: governance, staking, and engagement. Governance involves voting to ensure network decision-making. By locking the token on the network, staking will be made possible so that users can get rewards in OPS tokens.
OPS Token is hosted on four well-known IDO launchpads, and because to savvy promotion by the team, the Octopus community has now reached the 100k milestone as measured across various social media accounts. OPS tokens were released for $0.15 USD, and their trading on Kucoin began at that same price. According to the price graph of the Kucoin exchange, OPS reached an all-time high price of $600 USD before falling to less than $1 USD. As is well known, IDO investors always sold their tokens as soon as they were listed, dumping the price. OPS has a lot of potential; as of this writing, it is holding resistance between $0.60 and $0.80 USD, and it may break $1 USD next week.
Octopus protocol claims to be the ICO owner of the largest DeFi innovations, including DOT, ETH, LINK, ALGO, and more. It is backed by an experienced staff, including one of the co-founders named Monk. The platform enables users to carry out tokenized synthetic asset trading on a peer-to-peer network, with minting and trading supported by smart contracts. As far as we know, investors desired to acquire assets, and Octopus assisted them in turning actual assets into artificial ones in order to sustain minting on the BSC network. Global accessibility that removes restrictions on exposure to stocks, assets in fractional amounts, and more due to geography. The project’s standout features will be social and option trading, where users may follow industry experts while still ensuring custody, security, and transparency.