Jun 2, 2021
Octopus Protocol Token Launch on Ignition
The year 2021 has shaped out to be phenomenal for Octopus Protocol. From growing our community of Octopodes to building partnerships that will help strengthen our efforts and boost the growth of Octopus Protocol — we have achieved tremendous progress in the development of Octopus Protocol.
Earlier this year, we successfully completed our seed and Private A fundraising rounds. We are on track to complete the Private B fundraising round for the Octopus token. We have received incredible support from tier-1 blockchain firms, industry leaders, small and large VC firms, and more. We are grateful for the support we have received from influential leaders of the industry who believe in our capabilities to build a protocol that has the potential to enable an open-financial infrastructure. To discover more about why we are building Octopus Protocol, please refer to our Litepaper.
With a highly dedicated team of experts and support from advisors like Kyle Chasse, we have kickstarted our mission that offers unparalleled access and exposure to real-world assets. Moreover, we have a huge community of Octopodes that believe in our vision to facilitate access to decentralized derivatives.
Following the successful private sale raises and to further assist in the development and deployment of Octopus Protocol, we want to announce that we will be conducting our Initial DEX Offering (IDO) of our native utility token OPS, on the popular platform PAID Ignition.
Ignition Sale Information
We will be launching the Octopus Protocol pre-sale (IDO) on Friday, 11th June 2021. The specific time will be made available in the upcoming days.
- 1,000,000 $OPS tokens will be sold in our pre-sale held on PAID Ignition.
- Sale price will be $0.15 per $OPS.
- A total of $150,000 will be raised from the pre-sale round on PAID.
- Whitelist for Octopus Protocol token sale starts on Wednesday, 2nd June 2021 at 2 PM UTC.
- Whitelist will close on Saturday, 5th June at 4 AM UTC.
- Vesting Period: 40% released on Ignition Redeem, then every week 20%
Join the whitelist lottery for Octopus Protocol on Ignition HERE!
The upcoming sale will give Octopodes the opportunity to join us for the deployment of a protocol enabling unfair access to real-world assets.
Pre-Sale Information
17% of tokens were sold in our seed and Private A sale rounds. Prices of tokens in the early rounds ranged from $0.05 to $0.075 per token with 10% and 15% unlocked on TGE respectively and linear release after month 1 through month 6.
8% of tokens will be sold in our ongoing private B sale round. The price of tokens in the Private B round is $0.1 per token with 15% unlocked on TGE and a linear release after month 1 through month 6.
For more information on the tokenomics of OPS token, please read this article.
The OPS Token
The OPS token is the core economic unit of the Octopus Protocol ecosystem. It is the native utility token of the Octopus Protocol.
Its value accrues from platform fees paid for engaging and accessing the products and services of the Octopus Protocol ecosystem — from the creation of synthetic assets to exchanging derivatives on trading platforms.
The $OPS token acts as fuel to incentivize honest actions in the functioning of the protocol. They will provide access to a multitude of products and services inside the ecosystem. $OPS tokens will also be used as a part of staking mechanisms for holders to receive rewards in exchange for committing deposits and providing liquidity to the protocol. $OPS token holders will govern the Octopus Protocol.
- For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Octopus Protocol specific restricted KYC countries, check HERE.
- Tokens in circulation may be lower than the total market supply as the supply depends on the number of tokens purchased.
- Octopus Protocol is a BEP-20 project being launched on the Binance Smart Chain. If you are participating in the whitelist please see our instructions article about connecting your Metamask wallet to the Binance Smart Chain in order to be able to redeem BEP-20 tokens.
About Ignition
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform; it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
- Website: PAIDNetwork.com
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
About Octopus Protocol
Octopus Protocol, a robust DeFi protocol built on the Binance Smart Chain (BSC), allows issuance, trade, and management of decentralized derivative assets. Leveraging the technological innovation of blockchain, Octopus Protocol facilitates a platform that offers unparalleled access and exposure to real-world assets, thereby enabling a fair way to engage with synthetic assets and giving equal opportunities to access derivatives.
