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The $Octo is a transferable ERC20 token, designed to capture the value of the OctoLSD protocol.
The $veOcto is a non-transferable ERC20 token used for OctoLSD governance.
In OctoDAO governance, $veOcto is the platform governance token used to exercise voting rights.
The role of voting rights includes the following two aspects:
- 1.Proposing initiatives, such as increasing support for LSD assets on OcETH or adding new pools to Launchpad.
- 2.Determining the distribution ratios of each pool.
$veOcto is non-tradable, but can be only obtained in two ways:
- 1.Stake $Octo (1:1, receive $veOcto immediately).
- 2.Platform rewards given to liquidity providers.
To vote, $veOcto must be locked first, and the lock-up period depends on the voting period.
The process of converting $veOCTO to $Octo is called vesting. You can choose the vesting period which ranges from 1 to 20 days. After a maximum vesting period of 20 days, 100% of $veOcto can be converted to $Octo.
If you choose a shorter vesting period, then the $Octo you get will be reduced proportionally. If you choose a vesting period of one day, you can get $Octo equivalent to 5% of the total amount of your $veOcto after one day, and the rest of your $veOcto will be burned. If you choose a two-day vesting period, you can get $Octo equivalent to 10% of the total amount of your $veOcto after two days, and so on.
The total supply is 1 billion ($Octo + $veOcto) with a fair launch. The team has zero allocation.
The maximum supply of $Octo tokens is 1,000,000,000
1% (10,000,000 $Octo) for public sale
1% (10,000,000 $Octo ) for an initial supply
1% (10,000,000 $Octo) for marketing
5% (50,000,000 $Octo) for CEX Launchpad Reserve
7%(70,000,000 $Octo) for OctoDAO
85% (850,000,000 $Octo) will be distributed to Farm