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Transparency Report 002

For period 12 Sept 20 to 14 Sept 20 (post public sale)

First of all a huge thanks to everyone who participated in our public sale. While there were a few challenges along the way, the bonding curve distribution was completed successfully, and the project is onto the next phase.

This post serves to formalise the tweet thread we sent out following the Octoken project and provides a summary of which roadmap items we are working to deliver next.

Token Distributions

You will notice that the two largest holders equate to 56.97% of the total 800k supply. These combined holdings actually belong to the community in the form of:

  • Project Reserve: budget allocation that community will spend based on governance proposals and voting as detailed here
  • Interest Program: allocated to interest yielding contract split evenly between runtime payouts and airdrop rewards as explained in detail here

Community governance is a major focus for the OctoFi project and as such we will be encouraging proposals and voting ASAP, but more on that later.

Liquidity Provision

There has been a flood of enquiries regarding when we would be taking care of liquidity provision and the short answer is: as soon as we are able, well rested, and ready to continue diligently.

Uniswap Pairs have been created prior to the token distribution and the offical links are as follows (do not follow any other UniSwap related links to trade $OCTO):

We understand the excitement regarding liquidity provision, and respect the importance, but above all else, as a two person team (8 limbs total) our main priorities are consistency and integrity.

Until we can completely hand over project to our community of token holders, we are taking extra care, and as you can imagine, the workload has been plentiful.

Community Governance

We were recently delighted to have our pull request on Snapshot.Page merged and deployed, in order to have our very own “off-chain gasless multi-governance client with easy to verify and hard to contest results.”

Our governance interface is now live at snapshot.page/#/octofi and we have since redirected our dao.octo.fi subdomain from Aragon to Snapshot.

We wrote up a tutorial on how to use Snapshot and create proposals, and after noticing no official instructions on Snapshot docs, repurposed ours.

We are really excited to have such awesome tools at our disposal and to show our appreciation, we submitted a pull request to GitHub with our default version of the instructions.

You might notice we made a spelling mistake submitting this PR, but soon fixed it lol. Keep an eye out for the first proposals, where we would like help deciding the following:

  • Which community-run Telegram group is hangout of choice for the community, and deploy it to OctoFi’s website as a Trollbox (fun!).
  • Details on who we should arrange for comprehensive security audits of OctoFi smart contracts etc.

Yield Farming

Interest Program on Aquafarm is ready to go and will be officially announced with a tutorial very soon. You simply visit earn.octo.fi to participate, an overview is provided here, and the finer details are just around the corner.

To stay up to date with our roadmap, approximate delivery dates, and progress of completion, keep an eye on octo.fi where our homepage serves as a roadmap with progress bars. We will continue to improve this as we receive more feedback.

Summary

Despite being a small team, we’ve got loads planned for all you tentacle lovers and will be keeping this website up to date. We’d rather you hear it hear first, rather than on social media… Because this site can actually be community owned, and as mentioned, is open source and welcoming contributions.

If anyone does want to contribute something, like a tutorial, or a useful resource, please open an issue here to discuss.

And finally, as of today’s roadmap update, what’s ahead looks something like this:

github.com/octofi?tab=repositories

See you at OctoFest!