Octopus Protocol — June Updates

Hello Octopodes,

The last few months have been phenomenal at the Octopus Protocol HQ. The combined efforts led by the entire team of Octopus and support from the octopodes community has given an incredible start to this journey of developing a platform that enables access to synthetic assets in an open-financial infrastructure.

In this edition, we will replay the developments, collaboration, and recent updates from Octopus Protocol. Please ensure that you follow us on Twitter to never miss an announcement and join the conversation on Telegram.

Main Highlights

Bounce IDO Success

The launch of Octopus Protocol IDO on the Bounce Finance platform surpassed all our expectations. The wOPS token pool on Bounce Finance was sold out in less than an hour. We successfully raised $100,000 from the pre-sale round of Octopus Protocol.

We received excellent participation from the Octopodes community, and we thank everyone for your support. To know more about how the event played out, please refer to this article. For all the whitelisted winners, to understand how to swap wOPS tokens to OPS, please refer to this post.

OPS Tokens Sold Out on All Launchpads

Apart from the Bounce IDO, the OPS token sale was held on three other launchpad platforms:

Prostarter on 9th June, on Trustpad and Ignition by Paid Network on 11th June. We are thrilled to announce that the OPS token sale saw remarkable success on all three platforms, with 100% tokens sold out in the sale.

We are grateful for the trust and participation that the community has placed in the project.

Armor Labs

This month marked a significant milestone for Octopus Protocol’s tech team — the successful audit of our smart contract for the $OPS token by blockchain security specialists Armor Labs. Refer to the complete audit report here.

The successful audit also brings more confidence to the Octopodes community and gives a confirmation that the code behind the platform is up to the standard mark. This in-depth article provides more insights into the audit.

Important Announcements

KuCoin Announcement

Now, as for the BIG ANNOUNCEMENT.

We are delighted to announce that we will be listing on the prominent cryptocurrency exchange KuCoin on Wednesday, 16th June. The Kucoin platform will commence trading for $OPS tokens at 10:30 AM UTC on 16th June 2021.

For more details on KuCoin listing and how to claim your OPS tokens, please refer to our in-depth guide.

Tokenomics Update

All investors have agreed to be long-term in the project. More importantly, long-term vesting is crucial for the betterment of the Octopus Protocol. The early investors strongly believe in the growth and vision of the project enabling an open-financial infrastructure that facilitates unparalleled access and exposure to real-world assets.

• Seed — 1-month cliff, 10% Release after the first month, 15% Linear Release over six months
• Private A — 1-month cliff, 15% Release after the first month, 14.66% Linear Release over six months
• Private B — 1-month cliff, 15% Release after the first month, 14.66% Linear Release over six months
• Pre-sale (IDO) — 40% on TGE, 20% Weekly Linear Release
• Community Sale — 40% on TGE, 20% Weekly Linear Release, 1-Hour Post TGE

Keeping in consideration, the long-term vision of Octopus Protocol, all fundraising rounds except the pre-sale (IDO) and community sale have a cliff over the release of OPS tokens. This ensures that all of us collectively plan for the longer vision of the Octopus Protocol.

Latest Partnerships

Announcing Octopus Protocol’s Strategic Partnership with ICO Pantera

We recently announced our partnership with industry leaders ICO Pantera. The strategic collaboration is aimed at bringing diversification and inclusiveness to the Octopodes community. The partnership will help expand to new markets and will help facilitate the services of Octopus Protocol to the Korean audience.

Read more about the partnership here.

Octopus Protocol and Flourishing Capital join hands to become Strategic Alliance

In June, we also announced our partnership with Flourishing Capital to further innovate the Octopus Protocol ecosystem. The collaboration of Octopus Protocol with an AI-based market analysis platform will facilitate innovative tools for the users of Octopus Protocol. The joined union will also help Flourishing Capital to expand its client base by expanding to professional asset managers and investor segments.

More details about the partnership can be found here.

Octopus Protocol Partners with SL2 Capital

In another collaboration, we have partnered with SL2 Capital, a prominent investor with a high focus on Web 3.0 and distributed ledger technology projects. The alliance will help find a key stakeholder network along with finding the right tools and resources to boost the overall growth of the Octopus Protocol. Click here to check the details of the partnership.

Ongoing Events

Meme Contest

Our social media channels are flooded with several creatives prepared by our Octopodes community. We noticed an incredible amount of talent that has been shared on our Discord and Telegram groups in the last few days. To incentivize and engage the community, we are coming up with the ‘Octopus Protocol Meme Competition’ which runs from Sunday, 13th June and ends on Sunday, 20th June at 12 PM UTC.

A total of 3 winners will be selected amongst the entries that we have received. All three winners will be rewarded $500 USDT.

Please refer to this article to know more about how to participate in the Meme Contest.

Signing off

Thank you, Octopodes, for taking your time to read our report and staying up to date. We have several updates and events planned for next week! So make sure to -

Visit our Website
Join our Telegram
Follow us on Twitter
View our LitePaper
See our One-Pager
Join our Discord