With the high volatility in the meme coin market, DeFi watchers suggest Octoblock’s USDC airdrops are attracting investors by providing a more stable alternative.
What are meme coins?
Meme coins are a category of cryptocurrency that originate from internet memes, viral trends, and internet culture, often characterized by their playful and humorous branding. Unlike other cryptocurrencies, meme coins often lack a clear utility or purpose beyond their meme-based appeal. While some investors view meme coins as avenues for quick profits, many others caution that their volatile nature and lack of intrinsic value make them risky investments.
Understanding Octoblock
Octoblock is a new decentralized finance (DeFi) protocol that seeks to build a profitable and expansive ecosystem that will serve the interests of its community members while ensuring social responsibility.
The Nautilus Trove, Octoblock’s treasury and revenue-generation system, will receive asset inflows from different avenues, including an initial capital injection from contributors and revenue from the tax applied within the tokenomics framework. The Trove will allocate 75% of the resources to DeFi strategies, such as staking, farming, and arbitraging for their lower risk profile and consistent income potential. The system will then allocate the remaining 25% to investments that create yield returns, including stocks, assets, and businesses. This dual strategy ensures stability while allowing for the growth of the ecosystem.
Notably, OCTO token holders will share 45% of the revenue generated by the Trove. These rewards will come in USDC airdrops, distributed based on the percentage of OCTO supply held. The airdrops will occur monthly, providing OCTO holders with a constant and stable means of income. However, the exact timing and value of the airdrops will be kept confidential until a complete snapshot of holders is taken. Therefore, if an individual holds 1% of the non-LP OCTO supply at the snapshot time, they will receive 1% of the USDC allocated for that month’s airdrop. This distribution model ensures equitability and promotes fairness by ensuring that only loyal OCTO holders are rewarded.
Additionally, each OCTO token possessed by an address will be regarded as a single ticket into the Octoblock Saltwater Sweepstake. This sweepstake will randomly distribute 5% of the Trove’s profits to selected addresses in the community, with higher tickets creating higher chances of winning.
Octoblock’s Tentacle Trust will also receive 5% of the revenue. This integrated charitable account will be used to provide aid to organizations involved in the reduction of negative human impacts on marine ecosystems, such as Coral Reef Alliance and PADI Project Aware.
The Octoblock ICO airdrops
The Octoblock Initial Coin Offering (ICO) provides more than discounted prices and token bonuses. Each token bought during this ICO is automatically included in a staking mechanism that provides weekly airdrops to investors’ accounts, with the APYs (Annual Percentage Yields) calculated based on the OCTO price at each level.
The first Octoblock ICO airdrop on April 9 provided a remarkable APY of 185.5%. Subsequently, the Octoblock team introduced USDC allocations to the Nautilus Trove, which were included in the second airdrop on April 15, resulting in an APY of 165%. The stablecoins still account for more than 3% of the treasury’s value, indicating their continued integration into the ICO airdrops.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
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