Thread by @auroraisnear

1/ The sale of 2.5% of $OCT token on @skywardfinance starts on Aug 22 at 00:00 UTC and will last for 7 days.

What is @oct_network about?
What will it bring to the @NEARProtocol ecosystem?
What role does @auroraisnear play in it?

Let's explore:
skyward.finance/octopus-networ…
🧵 👇🏼

2/ @oct_network is a multichain cryptonetwork for launching and running Web3.0 application-specific blockchains — appchains. An Appchain is a decentralized Web3.0 application in the form of an independent blockchain.

3/ @oct_network decreases the cost to launch an appchain from several million dollars to less than one hundred thousand dollars. @oct_network works as a free market where appchains can lease the level of security they need at market price any time by using $OCT tokens.

4/ Appchains in @oct_network benefit from flexible and cost-effective leased security (LPoS), out-of-the-box multichain interoperability, complete infrastructure, and a ready-to-be-engaged community.

5/ The core of @oct_network is the Octopus Relay — a set of smart contracts running on the NEAR blockchain, aka mainchain, that implements the security leasing market. Octopus appchains sit on the demand side of the market.

6/ They pay rent in their native tokens to lease security from $OCT holders. $OCT holders that delegate their $OCT by staking on appchains have the advantage of diversifying their investment profiles with a wide variety of protocols.

7/ The Octopus Relay enables appchains’ interoperability with NEAR protocol and Ethereum via Aurora's #RainbowBridge. Additionally, appchains can utilize an out-of-box IBC pallet to connect with any IBC enabled blockchains directly.
ethereum.bridgetonear.org

8/ Any asset issued on Ethereum, NEAR, or any IBC enabled blockchain can be transferred into and utilized by Octopus appchains trustlessly. Conversely, assets issued on appchains can be transferred trustlessly out to Ethereum, NEAR, and any IBC enabled blockchain.

9/ $OCT token is a native Ethereum ERC-20 token bridged to NEAR protocol using #RainbowBridge
- Token Account ID: f5cfbc74057c610c8ef151a439252680ac68c6dc.factory.bridge.near
- Ethereum Token Contract Address: 0xf5cfbc74057c610c8ef151a439252680ac68c6dc

Total supply: 100mln $OCT

10/ $OCT, the native token of @oct_network, is a fungible, non-inflationary token with three primary utilities:
- Collateral to guarantee appchain security
- Governance
- Endorsing appchain candidates by upvoting them in the candidate queue