Cryptocurrency exchange CoinDCX has introduced the Okto Chain, aimed at streamlining web3 development and accelerating the growth of the decentralized economy. Serving as an orchestration layer, Okto acts as a bridge between developers and the complexities of Web3, providing a unified interface and user-friendly software development kits (SDKs). The goal is to enable developers to seamlessly integrate Web3 functionalities into their applications, simplifying the development process and enhancing user experiences.
The Role of $OKTO Token
CoinDCX has also unveiled the $OKTO token, which will power the Okto Chain. This token plays a crucial role in ensuring network security and fostering overall growth within the ecosystem.
Emerging from Stealth Mode
After operating in stealth mode, Okto Chain has officially emerged, boasting over one million users leveraging its capabilities through the Okto Wallet app and over 20 decentralized applications (dApps) built on the chain. As the first Okto Chain wallet, Okto Wallet offers an enhanced trading experience with built-in Chain Abstraction.
Incentivizing User Participation
To encourage user participation, CoinDCX has launched season one of the Okto Wallet points program. Users are incentivized for on-chain transactions, with existing self-custody wallet holders receiving bonus Okto points and users on centralized exchanges earning points by transferring their assets to the Okto Wallet. Through this program, seven percent of the total $OKTO token supply will be airdropped to early adopters.
User-Centric Approach
Sumit Gupta, co-Founder of CoinDCX, emphasizes the platform’s user-centric approach. He states that their core principle has always been to make crypto accessible to the masses, envisioning the integration of decentralized finance into centralized finance platforms. With a Web3 strategy unveiled in 2022, CoinDCX aims to empower smartphone users to participate in the new economic landscape. The Okto Wallet was the initial step in this direction, and the Okto Chain represents a significant advancement in CoinDCX’s mission.