Hola Oktopians!

We are back with weekly updates on what is brewing in the DeFi and Okto world!

DeFi Industry Updates

The past month was one of the worst performing months in the crypto space…a series of bankruptcies starting with the FTX failure, market sell-off, liquidity crunch, Bitcoin hitting shockingly low, and to make things worse…more confusing jargon such as  self-custody, becoming mainstream!

Self-custody has been the latest buzzword and a lot of you must be wondering what exactly it is?!

The collapse of centralized crypto entities has highlighted the importance of safeguarding user funds and this is where self-custody or non-custodial wallets come into play! As they say “Not your keys, not your crypto.”

There has been a massive shift from CeFi to DeFi and although the overall sentiment is low, now is the best time to evolve with the market and up your learning game!

Learn with Okto

After the recent FTX fallout where users lost millions of dollars to centralized exchanges, we have started a month-long campaign to educate our users on “how to keep your crypto secure” through solutions such as self-custody.

Check out our recent educational posts and take control of your funds!

Ethereum Shanghai Upgrade Explained

Importance of Liquidity Pools in DeFi

What is happening in the world of Okto?

Okto is all ready to launch…currently, we are sharing access with a small cohort and by Jan 2023, we aim to roll out the access to everyone! We are excited 🥳

There are some changes and updates …
Earlier, we were releasing the Okto app within the CoinDCX Pro app to make it easier for our users to use DeFi. However, based on the user feedback from the alpha testing, we have decided to release a standalone app for Okto.

• We are now adding a crypto withdrawal feature from Okto to any external wallet
• Additionally, we have started building the backbone of adding multiple chains & supporting cross-chain transactions in a simplified manner
• The new integrations will be released in the next quarter

🤝 Okto Community Updates

Our community is constantly buzzing and some fun events and activities were conducted in the past few weeks:

✔️ We held our first Jackpot draw for the Okto community users. Users had to show their attendance in the form of a number in the sequence and the lucky one gets a chance to win up to $50💰

What’s next in the community?

• Sessions on self-custodial wallets & importance of self-custody
• The new jackpot draw where you could win $50!
• Community Champ: be our community champ & stand a chance to win Okto merchandise by sharing your knowledge
• Test your crypto knowledge & win up to $10 every week

Come join our Community and don’t miss out on future contests and updates!

See you on Discord & Telegram

Message from our founder

I love that the community is as excited about Okto as we are. We've been listening to all the problems and challenges you face while using DeFi platforms and are working towards making Okto the platform that solves it all. Our focus is on making DeFi accessible to all by making a product that safe, secure and reliable. Can't wait to share Okto with all of you.

Neeraj Khandelwal, CoFounder, Okto

Did you know?

The downfall of over 14 centralized crypto companies in the past decade has wiped out 1.2 million BTC, almost 6% of the current 19.2 million BTC supply out of circulation!

Take charge of your crypto…self-custody is the solution!
The outlook may be gloomy but remember “Tis the season” and no winter lasts forever. Happy holidays!

Watch out for our email to receive links to download the Okto app! Coming soon!

With Love,

🐙Okto!

Catch top DeFi News & Updates on Okto Blog!