Thread by @AaronTing8

1/ Why is Octopus Network An Innovation?

By now everyone should know about #polkadot interoperability protocol and its canary chain #kusama. You may have also heard about the #parachain auction, the first of which was won by @KaruraNetwork

2/ @KaruraNetwork beat out @MoonriverNW and @ShidenNetwork and other networks such as @DarwiniaNetwork @PhalaNetwork @BIFROSTio @EquilibriumDeFi @CrustNetwork @DarwiniaNetwork with 500k $ksm. Which is worth usd250 mil if we take the value of Usd500 per $ksm near the peak.

3/ usd250 mil is a large sum of money and at the time of writing this is usd85mil since $ksm which is still significant and unaffordable for most projects. For the next crowdloan, @MoonriverNW is leading with 180k $ksm and @ShidenNetwork follows with 96k $ksm which is usd16 mil

4/ The high cost of a #kusama parachain in the tens of millions is prohibitive for most projects and this is expected to increase for a #polkadot parachain, easily in the hundred of millions. While there is parathreads, there is room for another relay which ensures liveliness.

5/ Enter the @oct_network which intends to serve application specific chains or #appchains with #security and #interoperability. Why appchains and not DeFi? Appchain projects tends to be smaller and cannot afford to pay tens of millions of dollars as security.

6/ So @oct_network is more affordable? That's all? Of course not, that would not be very innovative. #octnetwork relay realises this with #lpos or Leased Proof of Stake and building #validators on @NEARProtocol as a set of smart contracts. Let me explain.

7/ Building #Octnetwork validators as a smart contact on @NEARProtocol, we achieve a negligible cost and we do not need pay validators. Why is this important? Well, #appchain does not need to compete with a baseline return to attract $Oct token staking. A zero inflation economy.

8/ #appchain does need to offer a high baseline I.e. 15% apy. They can also opt for the right level of security they need. All appchain can start with a min amount of $Oct tokens and validators as security, and increase it later. Introducing Leased Proof of Stake or #LPOS

9/ #LPOS makes more sense because #appchain can right size their security. Compared to the #polkadot ecosystem, all parachains essentially have the same level of security regardless of the amount of $dot or $ksm staked or the value at which it was staked at.

10/ #appchain projects does not need to stay on @oct_network forever. They will have the option to disconnect from #Octnetwork or choose to do a fork to onboard to #polkadot or #kusama once their network value grows.

11/ @oct_network provides more for #appchain in terms of support. We have #octaccelerator with quarterly intakes and participation in #demoday. Our first #ShowcaseDay had 6 appchain projects. @DeBio_Network @myriadsoc @IdavollN Muse, Atocha, Discovol

12/ We provide more than just technical support but the entire scope of what #appchain projects need. We look at business model, go to market strategy, tokenomics, fundraising and share our network of VCs, KOL and Marketing channels.

13/ @oct_network is also different because there is a programme to give back to #appchain. There is 1 mil $Oct to be shared between first 10 #appchain. In addition, the first 100 #appchain will get 100k $Oct each. This is potentially more than usd100 mil worth of tokens.

14/ What happens beyond the 100th #appchain? @oct_network will continue to onboard more #appchain! Yes, there is no limitation on the @oct_network. @oct_network believes only when we can have thousands or tens of thousands of #appchain, can the #web3 revolution be possible.