Our mission to simplify DeFi and help the community better understand their on-chain interactions, as well as serve as a pre-tax facilitator, has been noticed and supported by Optimism.
Optimism is a Layer-2 scaling solution for Ethereum called an Optimistic Roll-up, or ORU. An ORU solves Ethereum’s scaling dilemma by moving bulky transaction data off the main blockchain while retaining the security guarantees of Ethereum’s base layer.
In this edition of Octav Insight, we will share our team’s progress in August 2023, shipping great features like NFTs, integrating Base for our Premium Subscriptions, and confirmation of a growth grant from Optimism (OP) to help enable the OP ecosystem.
45k $OP growth grant secured
We are very excited to announce that we received a $45k OP growth grant from the Optimism Governance Council to help label and reconcile transactions on Optimism. The entire grant (worth $60,000 USD), will be distributed to the Octav community as a reward for interacting with the Optimism network and then validating their transactions on Octav.
Although The Brain has made a lot of progress in building its knowledge base of Optimism transactions from inputs from the team, this grant will help by bringing in potentially thousands of new users to help validate transactions. The goal is to reach a knowledge ratio of 80%, meaning that 80% of all protocols and transactions on Optimism are known in Octav’s Brain by the end of the campaign.
We will be rewarding not only the top validators every month but also randomly selecting validators who validated a minimum number of transactions (TBC) to ensure fairness and that anyone with any level of DeFi experience can participate. The exact details of the distribution quantity and timeline of the campaign will be announced in the coming weeks.
NFTs now available on Octav
We have delivered one of the biggest updates and most requested features by the community in mid-august, NFTs! You can now track all ERC-721 & ERC-1155 tokens in your wallet alongside your ERC-20 tokens, so your portfolio net worth on Octav will reflect the value of both your crypto and NFTs.
NFTs are available to be tracked on all chains currently supported on Octav.
You can read more about our NFT launch in our last blog post.
Octav is joining the OnChainSummer movement, which has been a big narrative in crypto for the summer of 2023. It’s to celebrate the launch of Coinbase’s decentralized network called Base. Our premium NFT subscriptions are now available to be minted on Base. Our team is working hard to integrate the network to Octav so all your Base transactions and protocol deposits can be tracked. We expect to launch Base on Octav soon.
Intern in the wild
Our intern had the opportunity to visit and meet fellow interns and delegates at the Blockchain Futurist Conference in Toronto, Canada. He was boots-on-the-ground to find partnership opportunities for Octav and to meet with networks such as Ava & Arbitrum to discuss future integration strategies.
You can see him here listening to a talk by Parallel with a fellow Wassie.