CoinDCX’s Okto to Launch Blockchain and OKTO Token

As a researcher with a background in blockchain technology and crypto economics, I’m excited to see the expansion of CoinDCX’s Okto wallet into a full-fledged Okto ecosystem. Having closely followed the Indian crypto exchange since its launch in August 2022, I’ve been impressed by their commitment to simplifying blockchain complexities and providing seamless mobile experiences for users.

Indian crypto exchange, CoinDCX, is transforming its Okto wallet into a comprehensive Okto ecosystem, set to debut with a new blockchain and token. Co-founders Neeraj Khandelwal and Sumit Gupta revealed their ambition to provide a smooth mobile journey for users worldwide in the Web3 realm.

The teams at CoinDCX and Okto have put in considerable effort for several months to bring this about. I’m thrilled to announce:

— Sumit Gupta (CoinDCX) (@smtgpt) May 14, 2024

Late in 2024, the Okto blockchain is slated for release, featuring the Okto Points program and the introduction of the OKTO token. Users will earn bonus points for executing transactions on the blockchain, with extra rewards given to those transferring assets to the Okto Wallet. Approximately 7% of the total OKTO token supply will be distributed as airdrops to early adopters.

I started working on Okto back in August 2022, initially developed as a mobile DeFi application complete with an integrated wallet. This design facilitates a seamless transition for users accustomed to the crypto sphere into the decentralized finance realm. In my role as an analyst, I can attest that Okto streamlines the intricacies of blockchain technology, empowers self-custody, enhances security, and minimizes transaction fees.

With the Okto Web3 SDK, developers can create apps without requiring extensive blockchain expertise. This toolkit supports more than 50 chains and protocols collectively used by over a million wallets on the “Okto Orchestration Layer.”

Sumit Gupta emphasized the capability of Okto Chain to accommodate numerous Web3 applications, with over twenty in the works at present. This aligns with CoinDCX’s ambition to foster a robust Decentralized Finance (DeFi) community.

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2024-05-14 11:48