“Octane Finance is redefining limit orders by making them smart & rewarding on BSC”
Andrew (BSC.News)
Hello everyone and welcome to the AMA with Octane Finance!
Today we have @decentralisednomad joining us to talk about Octane Finance
Glad to have you here
decentralisednomad | Octane Finance
Hey all,
Thanks for having me here. Lets chat on all things related to Octane. So much to share with you guys
Andrew (BSC.News)
Of course, excited to have you here
So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway
Sounds good?
decentralisednomad | Octane Finance
Yes
Andrew (BSC.News)
Great, so to start things off
1. Please introduce yourself and the team behind Octane Finance.
decentralisednomad | Octane Finance
Hey all,
This is Nomad Co Founder at Octane Finance. I handle marketing and business side of things. We’re into DeFi from since it’s inception and our team have very diversified background of Web2 and Web3
Andrew (BSC.News)
Okay nice, thank you for that introduction!
2. What is Octane Finance? What is the goal of your platform?
decentralisednomad | Octane Finance
Octane Finance is a decentralised rewarding limit orders platform. The goal is bring value to idle limit orders that are sitting idle in most of the protocols. Check out our docs here
Andrew (BSC.News)
Okay so to unpack a bit
3. How does Octane Finance work?
decentralisednomad | Octane Finance
In a brief you place limit order, Octane will send the assets to lending protocol like Venus till it’s executed to generate APY. Check out for more info with good example
Andrew (BSC.News)
Oh I see so you are utilizing Venus’ lending protocol to reward users while they wait for their order to execute, how neat
4. What is $OCTANE and how is it used on your platform?
decentralisednomad | Octane Finance
Yes correct
OCTANE is a deflationary utility and governance token. The token utility is to provide protocol fees and APY generated on limit orders. Check this out for more info docs.octane.finance/tokenomics/token-usage
Andrew (BSC.News)
I see, thanks for that clarification
5. Can you tell us more about the features that you offer?
decentralisednomad | Octane Finance
Currently we have two features, Placing limit orders and Executing limit orders
A trader can place limit orders on Octane for supported token pairs. The trader can choose a limit price at which he/she wants to buy/sell a particular asset with customization on expiry time and execution slippage.
An executor network monitors and competes for pending limit orders to get rewarded by the transaction fees.
Andrew (BSC.News)
6. How has the integration of Chainlink played a role on your platform?
decentralisednomad | Octane Finance
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already secures leading DeFi protocols responsible for billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Andrew (BSC.News)
Oh okay I see, so Chainlink adds another layer of security in a sense
7. How have you made Octane Finance mobile friendly? Do you plan on releasing an app?
decentralisednomad | Octane Finance
Yes it’s mobile friendly, you can even use Octane from mobile based web3 wallets like metamask. No plans to release android/IOS mobile apps as of now, we will be web dApp
Andrew (BSC.News)
Okay nice
Thank you for that information!
8. Is Octane Finance audited? How can you ensure users that your platform is safe to use?
decentralisednomad | Octane Finance
Right now contracts are not audited, but we have already started conversations with few audit firms like Hacken and Certik.
Andrew (BSC.News)
Will the process begin soon?
decentralisednomad | Octane Finance
Yeah, but they haven’t still given us the estimate
Andrew (BSC.News)
Gotcha
9. Any exciting news you would like to announce here today?
decentralisednomad | Octane Finance
Yes yes We’ve Mainnet release this October and Staking program following up. Stay tuned
Andrew (BSC.News)
Awesome thank you!
Would you be able to provide us with links to your social media that you would like the community to follow?
decentralisednomad | Octane Finance
Sure ✅
Docs:
Andrew (BSC.News)
Great! Make sure to go and check out Octane Finance everyone!This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Source : bsc.news
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