Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Blockchain

CoinDCX To Expand Okto Ecosystem With In-House Blockchain And Token

Published

on

coindcx-to-expand-okto-ecosystem-with-in-house-blockchain-and-token

Two years after entering the decentralized finance (DeFi) realm with Okto Wallet, Indian cryptocurrency exchange CoinDCX is gearing up to introduce an in-house blockchain and token, signaling a strategic move to bolster DeFi adoption within the country.

Dubbed ‘Okto Chain,’ this blockchain will empower developers to seamlessly integrate Web3 functionalities into their applications, simplifying the process with a unified platform. By serving as an orchestration layer, Okto Chain aims to streamline the development of advanced Web3 apps, sparing developers the complexities inherent in the blockchain ecosystem.

Furthermore, the platform will furnish developers with accessible software development kits (SDKs) and pre-built blocks, enabling swift integration of Web3 rails, protocols, and chains into their applications.

CoinDCX emphasized that Okto Chain will be underpinned by the $OKTO token, which will play a pivotal role in ensuring network security and fostering network expansion.

In a bid to incentivize early adopters, CoinDCX has introduced the Okto points program, rewarding users for their on-chain transactions. Existing self-custody wallets have received bonus points, while users conducting trades on other centralized exchanges stand to earn bonus points by transitioning assets to the Okto wallet. Additionally, up to 7% of $OKTO tokens will be distributed to early users through an airdrop campaign.

This initiative builds upon CoinDCX’s earlier foray into the DeFi landscape with the launch of the fully native Okto app in 2022. Boasting access to over 100 decentralized apps (dApps) and 20+ blockchains, the Okto Wallet app has already garnered over 1 million users, with over 20 dApps building on its foundation.

According to Neeraj Khandelwal, co-founder of CoinDCX and Okto, what initially began as Okto Wallet has evolved into a comprehensive Okto ecosystem. Khandelwal emphasized the importance of simplifying user interactions in the Web3 space, particularly amid the burgeoning multichain landscape. Okto Chain aims to address this challenge by offering chain abstraction, thereby enhancing front-end usability and enabling rapid development of Web3 applications.

This development unfolds against the backdrop of regulatory uncertainty and heightened taxation within the crypto sector. While regulatory pressures have prompted some players to exit the Indian market, CoinDCX remains committed to innovation and user security, exemplified by its recent investment in crypto taxation platform KoinX.

Source: startupnews.fyi

The post CoinDCX To Expand Okto Ecosystem With In-House Blockchain And Token appeared first on HIPTHER Alerts.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Blockchain

Move and earn leader STEPN drops new app and gaming token

Published

on

move-and-earn-leader-stepn-drops-new-app-and-gaming-token

FSL, the global gaming and development studio behind web3 lifestyle app STEPN, NFT marketplace MOOAR, and social-strategy game Gas Hero, has officially announced the launch of STEPN GO. The new product is a social lifestyle app that rewards your daily movement and social interactions. Today marks an exciting milestone with the release of the STEPN GO Whitepaper and Tokenomic model. The game introduces a new token, GO GAME TOKEN (GGT), which users can earn by walking, jogging, and running with digital NFT Sneakers. There will also be a PvP game feature that allows users to earn GMT, the FSL Ecosystem token.

The original STEPN app was launched in 2021 and remains the world’s leading ‘Move and Earn’ application, pioneering the genre of gamified web3 fitness applications. With over 5.6 million registered users and over 1 million Sneaker NFTs owned by players, STEPN achieved monumental success, acquiring a global community. STEPN has partnered with prolific brands over the years including ASICS, Steve Aoki, and most recently adidas. STEPN was also the first blockchain gaming app to integrate Apple Pay, creating a seamless onboarding experience for web2 native users.

Yawn Rong, Co-Founder of FSL commented, “The STEPN community has been requesting social features within the app since the early days of STEPN. Therefore, we’re so excited to reveal these new features, which will propel STEPN GO into mainstream adoption. In addition to the Haus Mechanism and Interactive Map, we will also implement PvP elements within the app. Community is at the heart of everything we do at FSL, and we are ecstatic to announce this monumental milestone today, reinforcing our commitment to empowering and engaging our users.”

Building on the success of STEPN, FSL has designed unique social features within STEPN GO. The first key social element is the ‘Haus System’, which is a lending system that allows users to share their Sneaker NFTs with friends and family members who are new to the app, and split their earnings. This system will enable easy onboarding for new users to enjoy the app and kickstart their fitness journey. Another unique feature will be the ‘Interactive Map’, which will allow users to see other players’ avatars and even add them as friends within the platform. This Interactive Map will also allow users to drop messages that can be found by other players out doing STEPN GO runs.

Jerry Huang, Co-Founder of FSL added, “With STEPN GO, anyone can onboard their friends and family to web3 without needing to create a wallet or even buy NFTs. Exercise will be more fun and rewarding. We will combine fitness with many enjoyable experiences, including having your own customizable avatars with unique outfits!”

The Alpha Version of STEPN GO is set to launch by Q3 2024 with a Sneaker NFT Alpha Prize Draw lasting one month. A total of 3,000 Sneaker NFTs will be distributed within the app. To enter, users will be required to lock GMT. Access to the Alpha Prize Draw will be limited to FSL ID users, ensuring the most loyal FSL community members are rewarded. An additional 2,000 Sneakers will also be given away via the STEPN X account and STEPN GO Discord. Make sure to follow STEPN on X for your chance to win a Sneaker and gain early access.

The post Move and earn leader STEPN drops new app and gaming token appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

CBiGroup Completes $15M Series A Funding, Focuses on R&D

Published

on

cbigroup-completes-$15m-series-a-funding,-focuses-on-r&d

CBiGroup Completes $15M Series A Funding, Focuses on R&D

Continue Reading

Blockchain

Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

Published

on

correction:-cbigroup-completes-$15m-series-a-funding,-focuses-on-r&d

CBiGroup Completes $15M Series A Funding, Focuses on R&D

Continue Reading
Advertisement
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE