Pursuing its vision to accelerate the adoption of a decentralised economy, CoinDCX brings the Okto Chain out of stealth. This orchestration layer, designed as a chain by CoinDCX, aims to simplify blockchain technology for developers looking to integrate Web3 rails into their applications.

At its core, the Okto chain functions as an orchestration layer, concealing the intricacies of the complicated and fragmented Web3 ecosystem behind a unified interface. Through a unified set of SDKs, Okto is empowering developers to easily integrate complex Web3 functionalities and flows into their applications while offering single-click mobile-native Web2-like experiences for their users, said the company.

The company also announced that the Okto Chain will be powered by the $OKTO Token. The Token will play a crucial role in ensuring network security and fuelling network growth.

The Okto chain is coming out of stealth aiming to power one million users through the Okto Wallet App and other 20 apps building on it. Being the first wallet built on the Okto Chain, Okto Wallet provides a trading experience with Chain Abstraction built in.

Sumit Gupta, Co-Founder, CoinDCX, said, “At CoinDCX, our vision is to always keep users at the centre of our strategy. We started by simplifying access to crypto for masses. We believed all CeFi platforms would eventually have a DeFi arm. In 2022, we unveiled a strategy for Web3, wherein we committed that we would enable any individual using a smartphone to take part in this economy and gain value from it. We introduced Okto Wallet which was our first step in this direction.”

CoinDCX group also announces Season 1 of the Okto Wallet points program, rewarding users for their on-chain transactions. All existing self-custody wallets have been dropped bonus Okto points which they can check at Okto’s website. Users trading on other centralised exchanges can earn bonus points by moving their assets to Okto Wallet. A 7 per cent of the $OKTO token will be airdropped to early users through the Okto points program.