The post USDC Airdrops From Octoblock Cause Inflow of Shiba Inu and Dogecoin Holders appeared first on Coinpedia Fintech News
The USDC airdrops from Octoblock (OCTO) have ignited a frenzy among cryptocurrency enthusiasts, particularly those holding Shiba Inu (SHIB) and Dogecoin (DOGE).
Shiba Inu price
The Shiba Inu price recently fell below the crucial $0.000027 level, moving out of a symmetrical triangle pattern. This pattern, typically seen as a consolidation phase preceding a breakout, had previously provided support, sparking optimism for an upward trend reversal. However, with its breach, the $0.000027 level could now become a formidable resistance point. Analysts suggest that should the price encounter difficulties in reclaiming this threshold; it may validate the beginning of another downward trend for SHIB.
Dogecoin news
On April 13, Dogecoin made headlines as Whale Alert, a renowned blockchain sleuth, flagged three substantial transactions involving 150,000,000, 100,000,000, and 74,024,901 DOGE tokens. The first two sizable transfers were withdrawals from Robinhood, while the smallest portion was a deposit on the same platform. Cumulatively, these transactions accounted for a staggering 374 million DOGE, translating to a fiat value of $55.8 million during the time of transfer.
What is Octoblock?
Octoblock is a new decentralized finance (DeFi) project that seeks to build a profitable and socially impactful ecosystem through a range of initiatives. At its core is the Nautilus Trove, a revolutionary system that will strategically allocate the ecosystem’s asset inflows to DeFi strategies and diversified investments. This dual strategy is designed to generate consistent revenue while fostering expansion.
One of the standout features of Octoblock’s ecosystem is its commitment to rewarding its community, with half of the profits generated by the Trove going to OCTO holders. Of this share, 45% will be distributed through monthly USDC airdrops, where the amount received is based on the percentage of OCTO held. The exact time and value of these airdrops will be kept confidential until a snapshot of holders is taken, safeguarding against manipulation and ensuring only committed OCTO holders are rewarded. The remaining 5% will be distributed randomly through Octoblock’s Saltwater Sweepstake. Each OCTO token will serve as an entry into this monthly draw, with the chances of winning increasing with the number of entries.
A portion of the profits from Trove will be directed towards charitable initiatives through Octoblock’s Tentacle Trust. This trust will be mainly focused on organizations involved in marine life conservation, with OCTO holders voting monthly to decide the beneficiaries.
Unveiling Octoblock’s ICO airdrops
Octoblock is revolutionizing early investor rewards with a range of innovative initiatives in its Initial Coin Offering (ICO). This includes a staking mechanism that incorporates OCTO tokens immediately after they are bought. The mechanism will credit investors’ accounts weekly through airdrops, with the APYs dynamically calculated based on the OCTO price at each phase of the ICO. Investors are guaranteed sustainable APYs thanks to Octoblock’s utilization of Beefy Finance to generate yield returns.
The inaugural Octoblock ICO airdrop provided an impressive APY of 185.5%, indicating that a $1000 investment in OCTO surged to $1240 in just a week. Furthermore, Octoblock announced that the Trove had gained its first USDC allocation, constituting 3.95% of the current Total Value Locked (TVL). This development signaled the integration of USDC into the weekly airdrops, enhancing utility and diversification opportunities for early investors. With the next airdrop scheduled for April 15, many investors have been moving to Octoblock’s ICO to get the benefits of coming in early.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register