Octopus Network x OIN Finance Opens Up Appchains to DeFi
We are proud to present our partnership with Octopus Network, one that will bring unparalleled access to appchains not only for the OINDAO itself, but also the stablecoins minted from our platform, starting with the nUSDO.
As we dive further into the NEAR ecosystem, we are excited to get unparalleled access to such a vibrant, growing network of blockchain projects. Octopus Network, a project that streamlines launching appchains, is not only one of the most sensible things to happen to public chains, but also serves as a great catalyst for adoption of key functionalities within an ecosystem through their reach.
Octopus Network, NEAR Protocol & DeFi
People from the crypto world might have heard of the term Octopus Network, but fail to know its relevance to the crypto industry. As defined by Octopus itself, Octopus Network is a multi-chain interoperable crypto network for launching and running web 3.0 applications or also known as app chains. Web 3.0 applications are decentralized marketplaces that involve active participants such as miners, promoters, service providers, investors, developers and most importantly, end-users. The ecosystems are currently still in its growing phases however, and would greatly benefit from an easy on-ramp for developers, and processes that facilitate business functions within the ecosystem.
This is where the Octopus partnership comes in, since a lot of these app chains need payment methods, the collaboration with Octopus entails a deep integration to accept a native stablecoin as their payment option. Moreover, octopus partnership will be a big help in making every native stablecoin to the public as it provides tutorials to use the stablecoins — nUSDO.
Octopus Partnership
The Octopus Network has enabled unprecedented complementary and mutually beneficial interactions between its non-financial Web3.0 applications and the DeFi hub of the NEAR ecosystem, opening up access to each other with unparalleled ease. Octopus is positioned within the NEAR ecosystem to provide the gateway for appchains; a suite of DeFi functionality that is a simple plug-and-play solution, and push for the proliferation of DeFi within the growing ecosystem.
As appchains launch through the Octopus Network, together we can provide support in adopting the stablecoins where practical, and give access to DeFi functionality such as leveraging, and yield farming in the process.
The Octopus Network and OIN Finance will collaborate with the key objectives in mind:
1. Provide easy access to appchains launching through Octopus Network the usability of the stablecoins minted through the OINDAO V3.
2. Provide the possibility of appchains to launch their own stablecoins through the OINDAO, given the right conditions.
3. Push for the growth and adoption of DeFi within the NEAR ecosystem where applicable.
The Foreseeable Future of our Partnership
With the 3 objectives above, we have our goals in mind. We have the underlying theme of exploring and implementing stablecoin & DeFi functionality where applicable, and pushing the NEAR Protocol to its next levels.
For the next while, we’ll be collaborating in providing use cases for the stablecoins, and helping new up and coming appchains to adopt these functions, ones that will become ubiquitous within the NEAR ecosystem. We’ll be looking for ways to bring together the defragmented nature of functionalities within an ecosystem, and look for ways to integrate them into processes that leverage the strengths of not only OINDAO, but also our partnered and constituent projects. Whether it’s providing support for integration, or even guides on its value proposition and development, we’ll be there together.
We’re excited that Octopus Network is here with us in this endeavor, and are confident that they will be a great ally in our adventure.
ABOUT OIN FINANCE
OIN is a decentralized multi-chain stablecoin issuance platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the turnkey stablecoin issuance solutions for all, including layer-1 partners.
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