OctoFi

What is OctoFi?

OctoFi gives you cash back when you transact with the most trusted decentralized finance (DeFi) and non-fungible token (NFT) marketplaces. Earn free crypto. Octomatically.

Our cashback mechanism is built into:

  1. OctoFi dApp: an all-in-one decentralized application serving up direct access to a broad range of DeFi and NFT marketplaces from one convenient location.
  2. OctoFi Token: an ERC-20 on the Etherum network, OCTO is used to govern the project, unlock exclusive features, and earn your share of revenue.

🤔 How does it work?

When you transact with any of our referral partners using our dapp. 100% of any commissions generated by your transactions will be directed to our token holders.

🤷‍♀️ Why is this important?

We’ve witnessed similar value propositions in the $3.9 trillion ecommerce industry with the likes of Honey, who were acquired by PayPal in 2019 for $4 billion. This model has been replicated by crypto companies such as Lolli.com who use a portion of their ecommerce referral commissions to reward shoppers with Bitcoin cashbacks.

Honey and Lolli for traders anyone?

But we’re crypto native and with over $1 trillion in value settled on the Ethereum alone in 2020, we foresee opportunities for this proven business model to grow exponentially within decentralized finance, collectibles, artworks, exchanges, gambling, gaming, and more!

⏳ When is it useful?

We endeavour to accelerate growth for our referral partners while embracing a multi-chain future, so it’s fair to say every effort is being made to expand our partner network to ensure our products are useful NOW, and well into the future…

  • dApp: bookmark or install as a progressive web app (PWA) even if you prefer to use another wallet (eg. We direct 2.5% cashback from OpenSea to token holders).
  • Token: purchase the OCTO token to gain access to exclusive features, participate in governance, and earn your share of all revenue from the dapp.

As interoperability and composability shape up to be defining narratives within our industry, many leading projects are supercharging their growth by embracing the affiliate model to establish partner programs – ecommerce giants like Amazon certainly did; so why wouldn’t the future blue chips of blockchain?

🧐 Who’s behind it?

OctoFi’s founding team comprising ‘Dr. Octavius’ and ‘Mr. OG’ have chosen to remain anonymous and have a number of reasons for doing so. While their reasoning pertains mostly to decentralization, they’ve also insisted that “you don’t need a team to trust, you need to verify their work.” OctoFi exists because of eight guiding principles. Without them we lose sight of the cypherpunk ethos that birthed a grassroots movement in pursuit of decentralization. We are witnessing the change we all set out to make.

Open source everything, cherish the community, educate the inquisitive, always be transparent, say no to surveillance, keep the meme alive, empower the people, and make trust obsolete.

So consider The Tentacult Manifesto a pledge to see that change through. The project is and always will be open source, meaning that all of our code is public and available for anyone to audit, modify, and use however they like. We have also made a very public commitment to complete transparency by joining the Messari Registry and have taken all necessary measures to ensure rug resistance.

We started #WarOnRugs

Furthermore, in March 2021 a council of eight members were elected to steward OctoFi toward fulfilling its vision. Facilitated through a community governance vote, the chosen eight known as The Octagon, each became signatories for a five of eight multisignature address holding project reserve funds. An anonymous early backer donated 7000 OCTO to fund each of the following people with a 30 OCTO per month salary for 888 days:

Name Position Telegram Twitter
Steven Promotion & Biz Dev @Suk4b1y4t @ToastOfCT
AK88 Marketing & PR @octoAK88 @octoAK88
Marco Marketing & PR @TMod_Marco @TMod_Marco
Nathan Software Development @nathanjessen @natejessen
Darnboo Software Development @BizarroSephiroth @darnboo
MA Visual Arts & Design @M_A_OctoWave @MaOcto
Cameron * Social Media Influence @Cameron_CryptoDaily @Crypto_Daily
RN03xx * Marketing & PR @rn03xx @_RN03xx_
CFow Community Secretary @CFowTelegram @cfowtweet

*May 2021: Cameron and RN03xx have left the Octagon and their positions will be filled.

⚠️ WARNING: No OctoFi team member will ever DM you first, or request access to your funds, or that you share private keys or seed phrases. Anyone claiming such a thing is an impersonator and should be reported immediately.

🕵️ Where can I get more info?

See below for more information about our dapp and token.

1. dApp (app.octo.fi)

OctoFi’s core value proposition is giving you cash back when you transact with the most trusted marketplaces in DeFi, NFT, and beyond. Our dapp is our flagship product and provides a user friendly entry point for newcomers to get familiar with crypto.

OctoFi as a platform is ever changing and indicators shown in the drop down menus are either green for “live in production” or yellow for “work in progress.” Here’s a brief overview of what you’ll find inside:

Buy Swap Trade Invest Tools
Crypto (fiat on-ramp) Aggregator Spot markets Liquidity pools Governance
Gift cards (fiat off-ramp) Uniswap Spot trading Token sets Rankings
Luxury goods (soon) Instant exchange Launchpad Loans Explore
P2P (soon) Cross chain Private sales NFT Account manager

We run entirely on a static site hosted directly from our Github repo and we do not track users. Our platform fee collection address can be found at fees.octo.fi and adheres to our strict transparency standards.

Function Platform User Fee (%) OCTO Holder Benefit
Spot trading 0.2% Tiered discount (TBD)
Fiat Gateway (On-Ramp) No platform fee Less onboarding friction
Fiat Gateway (Off-Ramp) No platform fee Partner commissions (~ 1%)
Instant Swap (Aggregator) No platform fee Partner commissions (~ 1%)
Spot Trading Deposit No platform fee Less onboarding friction
Spot Trading Withdraw No platform fee Less onboarding friction
NFT Trading No platform fee Partner commissions (~ 2.5%)
Launchpad Private Sale (Service) 2% of funds raised Discount (req. OCTO lock)
New Asset Listing (Service) 8,888 USDC Discount (req. OCTO lock)

Revenue is derived from native platform fees, partner referral commissions, and project capital deployments. Please note fee structure is subject to change. Refer to OIP-17 for more information.

2. Token (OCTO)

The OCTO token is used to govern the project, unlock exclusive features, and to distribute ALL revenue. You can purchase it on Uniswap or directly from OctoFi, but always check the token contract address (0X7240…2BA3) first.

Here’s what you can do with your $OCTO right now:

Liquidity Providers Passive Holders
Earn OCTO + USDC (usdc.octo.fi) pool fees Earn share of OctoFi fees
Earn OCTO + ETH (eth.octo.fi) pools fees Unlock exclusive features
Earn OCTO for LP staking (farm.octo.fi) Vote on governance decisions

Revenue is distributed to holders proportional to their share of the OCTO circulating supply. Snapshots are taken at 808am UTC on the first and last day of each month to determine whose holdings are eligible for each monthly distribution. Payouts are made in stablecoins directly to eligible wallets (liquidity providers excluded) and do not require staking or claiming (subject to change as L2 solutions become available).

Distribution eligibility

At the end of month snapshot, you must hold the same amount of OCTO, or more, than you did at the start of month snapshot to be eligible. Only those OCTO held for the entire period are deemed eligible and those who HODL are rewarded. Any additional OCTO you’ve accumulated during a given month will only count towards the next month.

If the amount of OCTO in your address at the end of month is less than at the beginning, you are disqualified from receiving any payout for that month. Only non-custodial wallets are counted. We do not include exchange wallets.

Not your keys, not your fees.

You can visit hodl.octo.fi for an up to date list of eligible addresses. Payouts are made on the 8th of each month and you can visit fees.octo.fi to track revenue wallet deposits.

Token launch details

OCTO (0X7240…2BA3) is an audited ERC-20 token on the Ethereum network. LiveCoinWatch and Coingecko are our recommended sources for checking prices.

  • Total Supply: 800,000 OCTO (MAX)
  • Circulating Supply: ~ 350,000 OCTO (CIRC)
  • Locked Supply: ~ 210,000 OCTO (LOCKED)

Circulating Supply = Total Supply - Project Reserve (locked) - Interest Program Fund - Project Reserve (streaming) - Uniswap Liquidity (locked) - Project Reserve (deployer) - Interest Program Deposits - Token Contract (burned)

💡 You can verify tokens locked in smart contracts for yourself as explained in this transparency report.

Launch distribution was done using bonding curve public sale completed on 14 September 2020 as detailed here.

  • Public Sale: 125,000 OCTO distributed via bonding curve ($0.18 - $1.08)
  • Project Reserve: 275,000 OCTO assigned to transparent project fund
  • Interest Program: 200,000 OCTO allocated to interest programs
  • Early Backers: 200,000 OCTO among strategic cohort ($0.18)

New users commonly ask about certain addresses with larger holdings (view all holders here) which are detailed below.

🤿 Further reading

Before taking a deep dive, it’s worth having a quick look at these.

Please follow us on Twitter and join our Telegram group @OctoFi to discuss the project in more detail.

Welcome to the tentacult.