Thread by @0xRafi

1/A thread on one of my favorite projects right now Octo.fi, a full-on DeFi aggregator that’s like 1inch on steroids and is developing new features nonstop!
-Fee distribution to token holders coming this month
-Great branding, quality memes, and just a $26M Mktcap

2/OctoFi is a DeFi portal offering all DeFi solutions on a single platform, such as token swaps, liquidity mining, lending, orderbook trading, derivatives trading, token set investing, NFTs, fiat on and off ramps… all that from a single user-friendly platform with great design.

3/ OctoFi offers these products by acting as an interface with the major existing DeFi platforms, so it will execute a swap or provide liquidity using Uniswap, Sushi, Balancer, etc, do orderbook trading through 0x, borrow crypto using Aave, or trade NFTs through Opensea.

4/ So when you want to do a swap between two tokens, OctoFi will aggregate data from 32 exchanges, including Uniswap, Sushiswap, 1inch, Balancer, Ox, Airswap, Kber, Bancor, Radar Relay and others, and recommend the one with the best price at that moment.

5/ Or if you want to post collateral to borrow crypto, OctoFi will present you the best available lending rates. Orderbook trading with a DEX backend (using 0x and dYdX) will also be available soon, and NFT trading and token set investing are already live.

6/ On top of that, Octo also offers cryptomarket aggregate data, wallet management, and the option to buy from “fiat” stores such as Amazon, Apple, etc using crypto through @bitrefill

7/ What about the $OCTO token? It will be used for governance, for getting discounts on fees and… 100% of platform fees will be distributed to $OCTO holders! These fees will come from spot trading fees (0.2%), and partner commissions on swaps, fiat gateways or NFT trading.

8/Fees will be distributed to holders proportional to their share of the $OCTO circulating supply based on 2 monthly snapshots
Payouts will be made in stablecoins directly to eligible wallets (liquidity providers and CEX wallets excluded) without the need for any staking/claiming

9/ Again, no staking or claiming needed! Just by holding $OCTO you will see some USDC or DAI being dropped in your wallet every month. And how much revenues could these fees generate to holders? I leave @AkadoSang to show you this beauty:

https://twitter.com/AkadoSang/status/1357431890551136261?s=20

10/ It’s also worth noting that this fee structure has been decided via governance voting after discussions between the team and token holders, showing the governance mechanics at work on a major aspect of the platform.

11/ Speaking of generating returns on your $OCTO, farming of OCTO / USDC LP tokens is live with 141% APYs and farming of OCTO / ETH LP tokens will go live on Feb 18th.

12/ In terms of token metrics, the max supply of Octo is only 800,000, of which 352,000 is in circulating supply
The non-circulating supply consists mainly of tokens verifiably locked in Uniswap liquidity and project reserves and tokens to be used as rewards for liquidity farming

13/ Of the circulating supply, 125k were tokens sold during the public sale in Sep 2020 (at between $0.18 and $1.08 per token), 200k tokens allocated to early backers, and the remainder are the small share of farming rewards and reserve tokens that have already been released.

14/ As mentioned before, $OCTO will act as a governance token, allowing holders to propose and vote on governance matters and to decide on the allocation of funds from the project reserve of 275k OCTO (or about 34% of supply).

15/ The team has been developing new features for the platform at breakneck speed. Live features include instant swaps with DEX aggregation, LP rewards, liquidity pool aggregation, Lend/Borrow aggregation, fiat on/off ramps, and a 1st version of CEX like trading interface.

16/ Roadmap for Q1 includes: go live of spot trading and of derivatives trading, claiming of platform fees, offline address management, adding crypto off ramps, drag and drop DeFi trading strategy builder, unwrapping wBTC and other wrapped assets, launchpad for new projects…

17/ And for Q2 we’ll have Android and Desktop apps, Desktop app node functions to support the network, ETH 2.0 pool staking, cross chain spot trading and swaps, gas-less or gas reduction solutions, and OTC on chain swap solutions (escrow).

18/ The team chose to remain anonymous but they more than make up for it by being extremely transparent and communicative, pumping blogposts almost every week, and always present on the TG group to answer questions.

19/ The main wallets addresses are known, the token lockup for Uniswap Liquidity (until Dec-21) and for Token reserve (until Oct-21) is verifiable on trustswap, and transparency reports (including wallets addresses and tx ids) are posted regularly on their website.

20/ The token smart contract has been audited by Solidified and the project has also applied for the Messari Registry (certification ongoing). In short, it would be difficult to be more transparent than this, and as the team puts it, this is a rug resistant project!

21/To end on a proper bullish note, let’s just say that Octo’s mktcap is currently $26M, while 1inch, which offers only part of the features on OctoFi, is at $489M. Once the $OCTO price reaches the inevitable $888, we’ll still be at $313M, so let’s say that will be a good start!

22/ Some useful links:
- One pager: den.octo.fi/p/dyor
- Transparency reports : den.octo.fi/t/transparency
- Blog posts: den.octo.fi/blog
- TG group: t.me/OctoFi