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Wolfonaire Chatbox : AMA With Octane (24th June, 2021)

Hello! Wolfonaire Family & Crypto Enthusiasts

We recently hosted an AMA With Octane 24th June, 2021 at 2.00 PM UTC. This session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…

Guest Speakers :

Mr. Nick | Co-Founder, Octane

(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)

INTRODUCTION

Nick : Octane Finance is redefining limit orders by making them smart and rewarding. We follow the optimal capital path for idle limit orders.

We’ve very strong team with 7+ years of experience and we’re in Decentralised Fianance space since from it’s inception.

Wolf : For our members who are not already familiar with the project, can you give us a very high-level overview of what #OctaneFinance is and what competitive edge it brings to the Crypto Universe?

Nick : To keep it very simple we’re building an ecosystem where one can earn APY on top of idle limit orders sitting idle in the smart contracts doing nothing, entire ecosystem is governed by OCTANE token

We’re decentralised, Rewarding with best order execution which no other limit order platforms are providing

For example 1inch do limit orders via centralised mode of system storing orders off chain

Check out https://docs.octane.finance/octane-vs-other-platforms

Wolf : How do holders of the #OctaneFinance Tokens benefit in the ecosystem? What power within your model do individuals hold? Why is it so attractive and what are the basic requirements to participate?

Nick : Octane token is a Utility and governance token with following use case

1. APY generated on the limit order assets is given to the user in the form of OCTANE tokens.

2. Users can get up to 50% discount while paying trading fees using the OCTANE token.

3. Trading fees paid by the user are given to the network of executors in from of OCTANE tokens for executing the limit order.

4. Governance

Check out: https://docs.octane.finance/tokenomics/token-usage

Wolf : Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?

Nick : Interesting!!

We started project Q1 2021 and met following dots till date

Completed User research, prototyping, seed and private rounds and now we’re in testnet launch phase

Check out https://docs.octane.finance/about/roadmap

Wolf : Can you please give us a short tutorial on how even a nontech guy can easily use and enjoy your platform?

Nick : Consider a user places limit order of: Buy 500 CAKE with 10,000 BUSD when CAKE’s price is $20.
User supplies 10,000 BUSD for this order. Suppose CAKE’s price is $25 at the time of order placement.

Your BUSD will be sent to lending protocols like Venus and Alpaca to generate yeild on top of your pending limit order till your limit order reaches the limit price(price set by the user)

Check out : https://octane.finance/

Lets move for the Twitter questions

Q1. You are going to make use of DECENTRALIZED NETWORK of EXECUTORS whose duty will be to match and execute limit orders. How are these decentralized executors selected? Who can be come an executor and what is the procedure to become one?

Q2. Kindly explain more about your Tokenomics, Release Schedule and UTILITY, is it inflationary or deflationary?

Q3. Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?

Q4. What intrinsic value will octane provide to the real Blockchain adoption? What are the key products of octane?

Q5. I am a stake holder in the Motorsport and Race Car industry, one of the problem faced by the industry is getting access to Lending facilities due to high risk in the sector. Kindly explain how Octane will provide a financing solution to the car race sector?

Ans. 1 : Anyone with web3 wallet can be an executor in our protocol, If you’re interested then please join https://t.me/octanefinance

Ans. 2 : Check out https://docs.octane.finance/tokenomics/tokenomics

To breif you our aim is to be community driven so allocated major chunck to them

Ans. 3 : Yeah I agree, but we’re product driven guys from day 1 since we started journey of entrepreneurship. If you check our roadmap we’re doing IDO only after testnet launch, We want community to use the product instead of just holding tokens speculating the prices.

Ans. 4 : Our long-term vision is to become a highly capital efficient & rewarding trading platform built upon open-source protocols.

Ans. 5 : Hey, We’re not lending protocol, we’re building rewarding limit orders using existing lending protocols

Now Community Question & Answer Session Began

Q1. Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

Ans. : Yes, we have plans to do on pancakeswap stay tuned with our telegram group for more info.

Q2. Are you a global project or a local project? Can anyone use your project anywhere without any restrictions?

Ans. : We’re global, Yes anyone can use as of now.

Q3. What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?

Ans. : We have recently closed out private and seed rounds and next we have testnet launch next month so we ‘re almost on track with roadmap.

Q4. How do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea, … about your project so that they can easily communicate and understand your project?

Ans. : We have plans to create global ambassors please join our community or dm me to know more details.

Q5. Revenue is a very important, aspect for all projects, to survive and maintain the project / company.
-What is the way to generate profit / revenue of token?,”
-What is the income model,?

Ans. : Check out https://docs.octane.finance/tokenomics/trading-fees

Q6. I want to have a LONG TERM INVESTMENT with this PROJECT, but I’m in doubts right now, how can you convince and assure me this project is SAFE and PROFITABLE?

Ans. : Thanks for your kind words, there are always risks in protocols but what matters is mitigation ways

Check out https://docs.octane.finance/basics/risks

Q7.DEFI is evolving too fast and the ability to break is very high. What do you think about this and can you be sure that project products will be demand in the long term? What is Your Project planning to contribute to DeFi’s growth?

Ans. : Yes, The pace just picked up there is lot more left to do in DeFi. Our long-term vision is to become a highly capital efficient & rewarding trading platform built upon open-source protocols.

Q8. Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

Ans. : Check out https://docs.octane.finance/tokenomics/token-usage

Now the session ends with lots of thanks to our Guest Speaker…

Here are some important links of Octane

Website | Telegram | Twitter | Wolfonaire Family Chatbox | Wolf

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