CoinDCX, an Indian crypto exchange, has turned its Okto wallet into a full Okto ecosystem with the launch of a new blockchain and token. Co-founders Neeraj Khandelwal and Sumit Gupta announced that the aim is to offer global users a seamless mobile experience in the Web3 space.
The Okto blockchain is set to launch in late 2024, enhanced by the Okto Points program and together with the OKTO token. Bonus points are provided for on-chain transactions, with additional bonuses for those who transfer assets to the Okto Wallet. Up to 7% of the OKTO token supply will be airdropped to early users.
Launched in August 2022, Okto began as a DeFi mobile application with a built-in wallet, hence the smooth transition for crypto users into the decentralized finance world. Khandelwal said Okto simplifies blockchain complexities, self-custody, security, and transaction fees.
The Okto Web3 SDK helps developers build applications without needing deep blockchain knowledge. It has integrated over 50 chains and protocols, resulting in over a million wallets on the “Okto Orchestration Layer.”
Sumit Gupta highlighted the Okto Chain’s potential to support thousands of Web3 applications, with more than 20 apps currently in development. This reflects CoinDCX’s vision for a strong DeFi ecosystem.
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