Comments
Cryptocurrency exchange CoinDCX has announced the launch of Okto, a Decentralised Finance (DeFi) mobile app with native access to Web3 and DeFi use-cases.
Okto helps users securely navigate DeFi and access thousands of tokens from multiple decentralised exchanges (DEX) across chains with its in-built wallet. Users can swap crypto anytime, anywhere, and maximise yields with access to the liquidity pools in DeFi.
The announcement was made by CoinDCX Co-founder, Sumit Gupta, at Unfold 2022, a Web 3 event hosted by the exchange in Bengaluru.
Okto is inspired from Octopus, which is an inherently intelligent creature. The offering is a keyless self-custodial wallet backed by multiple layers of security, which allows access to more than 100 decentralised apps, said the company
Neeraj Khandelwal, Co-Founder, CoinDCX, said: “As the blockchain technology is maturing, builders are creating use-cases to unlock value and make the Internet a more equitable space. Our new DeFi offering is the first step in this direction.” In the next three to five years, the platform foresees all CeFi platforms having a DeFi arm that will be efficient, economical, and provide wider opportunities for everyone in the ecosystem, he added.
As a first step to realising its vision, the DeFi app will unlock opportunities by giving access to more than 20 chains and around 100 protocols. Indian users will be able to access the Okto wallet with CoinDCX Pro app, and globally it will be launched as a standalone Okto app. With this app, users can access thousands of tokens from multiple DEXs across chains on their mobile.
This launch is the first step in line with CoinDCX’s larger vision and commitment to strengthen its footprint in the Web3 and DeFi ecosystem, said the company.
It has unveiled its strategy for Web3.0, enabling any individual with a smartphone to take part in this economy and gain value from it. CoinDCX will launch innovative offerings which will provide access to an array of Web3.0 applications ranging across DeFi, NFTs, Synthetics, Cross-chain bridges, and many more.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.