While Fantom crypto looks to incorporate meme coins, a new DeFi project known as Octoblock is giving $50,000 worth of USDC in its Initial Coin Offering (ICO).
Meme coins on Fantom
On April 9, Fantom Co-founder Andre Cronje unveiled a strategic plan to introduce meme coins on the Fantom network while mitigating associated risks like token dumping and liquidity removal. This initiative emphasizes a distribution model that allocates tokens for team expenses, marketing efforts, and supporting liquidity pools, all while ensuring investor safety. Cronje’s proposal arrives amidst a fervent period in the crypto market, where blockchains like Solana have experienced remarkable success with their meme coins.
Understanding Octoblock
Octoblock seeks to provide an all-in-one ecosystem with a focus on the diverse needs of users within the Decentralized Finance (DeFi) space. At the center of Octoblock’s initiatives is an innovative system that will direct its funds to DeFi strategies and other investments, the Nautilus Trove. This system will also be responsible for sharing the revenue within Octoblock’s ecosystem.
Notably, half of the profits made within Octoblock will go to OCTO holders. Of this, 45% will be distributed through monthly USDC airdrops based on the percentage of OCTO held. To prevent manipulation and ensure that only devoted OCTO holders benefit, the airdrops’ timing and value will not be made public until a snapshot of holders is taken. The remaining 5% is allocated to Octoblock’s Saltwater Sweepstake. This monthly draw will distribute the proceeds randomly to addresses within the community. The higher the number of OCTO tokens held by an address, the higher the chances of winning Saltwater.
Additionally, a share of the Troves’ profits will go to the Octoblock Tentacle Trust. This integrated charitable account will aid organizations involved in purifying ocean waters, conserving marine life, and mitigating human impact on marine ecosystems. OCTO holders will vote monthly to decide the recipient of the trust’s donations. Therefore, by holding OCTO tokens, investors contribute indirectly yet effectively to marine conservation efforts, helping to preserve our world for future generations.
The Octoblock ICO giveaway
To further showcase its commitment to environmental sustainability and community engagement, Octoblock announced a special giveaway for its ICO (Initial Coin Offering) participants. This exclusive giveaway will give one lucky winner an opportunity to experience the future of driving with a brand new 2024 Tesla Model 3 or get their hands on a whopping $50,000 in USDC.
To participate in the giveaway, investors must simply purchase OCTO tokens during the ICO. For each token purchased, one entry into the draw is earned. The giveaway will last the entire ICO period, ending on August 15th.
Additionally, after the first successful ICO airdrop on April 9, the Octoblock team announced that the Trove would start distributing USDC alongside OCTO in the subsequent airdrops. The Octoblock ICO is currently in its third phase, selling OCTO at $0.037 with a complementary 13% bonus.
For more information on Octoblock:-
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
Source: https://www.cryptonewsz.com/ftm-to-start-official-support-for-memecoins-this-new-ico-gives-50k-usdc-away/