Occam.fi Community Update — Giving Gas a Hard Pass

We’re almost through November, and a lot has happened since our last community update. This month there are two key topics we want to share with our community — regarding recent OCC token trading events and OccamRazer BSC support.

But before we delve into our two major updates, let’s take a quick look at the other things we’ve been rolling-out since our last update:

• New governance structure for OIPs,
• OccamX Landing Page Goes Live,
• Cardano Launchpad Token $OCC Launches on SwissBorg,
• The OccamX $OCX Distribution Dashboard Goes Live,
• Support for Cardano Wallets on selected OccamRazer IDOs,
• Proof of 500,000 OCC burn.

Recent Token Price Movement

As many of you noticed, at approximately 23:30 on the 17th of November, a large number of OCC tokens were sold onto the open market. We want to address speculation around this token movement.

Regrettably, this was due to the compromise of a wallet of one of our early venture capital investors. We are not the only project to have had tokens sold at market as a result of this bad actor(s).

Nevertheless, we can categorically say that none of Occam.fi’s own infrastructure or wallets are compromised in any way. We are now working closely with the VC’s team, and law enforcement, to locate and bring the bad actor to justice. The exchanges which the stolen funds were sent to have been notified of their origin.

Chain analysis is being carried out on the affected addresses. Below, you will find a schema of the current tracked token movements as the perpetrator attempts to offload funds.

The affected VC is a close partner of Occam and a respected actor in the space, we have redacted their name in the schema above to preserve their privacy, and leave it up to their team to decide if they share more information publicly.

However, we are committed to transparency for our token holders and we will always keep you informed of such circumstances. No further OCC is at risk of being sold to the open market, our forensic operations have identified the affected wallets and OCC vesting has been transferred to a different address.

We kindly ask you to discuss all matters related to this event on our Occam Forum in the OCC discussion section, and to limit chat about this on Telegram, for the sole reason that this issue is considered resolved — in that no more OCC tokens can be sold by the bad actor.

Binance Smart Chain Support — Giving Gas a Hard Pass!

Let’s now move to a hugely positive note. We’re busy building out Plutus smart contracts for both OccamX and OccamRazer, keeping pace with the rate of chain improvements for Cardano, and waiting for the day we can offer IDOs natively on the Cardano blockchain.

But until such time, we know we need to make it cheaper for our community to participate in IDOs. A few months ago, we announced that we would do this by enabling Binance Smart Chain (BSC) for IDOs on OccamRazer. BSC is deployed in Solidity and is far easier to modify our smart contracts and interfaces for than writing brand new Plutus code in the short term.

BSC functionality will now allow users to:

• Participate in IDOs using BNB instead of ETH,
• Receive IDO tokens on BSC in their MetaMask,
• Use BSC-based secondary marketing trading venues (e.g. Pancakeswap),
• Leverage the cost-efficient nature of the Binance Smart Chain!

Starting with Wicrypt, all IDOs on OccamRazer will have the option to contribute in BNB tokens and distribute on BSC. This functionality is live and deployed. It is at the discretion of each IDO originator to choose between ETH or BNB contributions and distribution.

So, you can now give Ethereum Gas a hard pass and start contributing cost-effectively to the hottest new project on OccamRazer. But what’s changed for you as a user, what actions do you need to take?

Participation in OccamRazer IDOs using BSC will require:

• Setting up your MetaMask to receive BSC tokens,
• Buying some BNB to contribute,
• Familiarizing yourself with PancakeSwap (the UniSwap of Binance),
• Connect to OccamRazer with your BSC MetaMask address using the same exact process as you would for Ethereum addresses,

We will shortly provide more information on participating through BSC for those unfamiliar with that blockchain. Leave us a comment down below for what you would like to see explained.

Thank you for your support and we’re looking forward to a new era of low-cost IDO participation on OccamRazer!