octa · 2021. 7. 20. · licensed merchandise (disney, starwars, marvel, dc comics etc.) alongside...

OCTANS WHITEPAPERLAST UPDATED JULY 2021

WHITEPAPERJULY 2021

OCTA


Introduction

Octans Crypto was born out of a degree of imagination and innovation and an even larger part out of the entrepreneurial spirit. Some cryptos have been created and are still trying to find their center, but Octans has remained distinguished over its short life as a crypto that currently seeks to use its talents to disrupt an already evolving gaming industry.

Our project was launched at the end of March 2021 with the goal of creating an Octaverse for the world. The Octaverse will include an online digital ecosystem consisting of an Octamarket, where users can purchase licensed merchandise (Disney, StarWars, Marvel, DC Comics etc.) alongside top premium IP gaming licensed peripherals and accessories across leading brands. The Octaverse will also include a vast NFT Marketplace with three different lines of NFTs available for purchase and trade. In the long term the Octaverse will incorporate the use of our token within actual videogames (currently in the development stage).

Octans mission is to provide a space for gamers to acquire, express, and live their gaming identity, while sharing in a community that today finds itself growing to reach an estimated 1.5 billion dollars within the next 2 years. Collaboration with artists is evolving the way that people think about traditional gaming spaces – converting those spaces into a showcase to better represent gaming culture and the true lifestyle behind games. This is what Octa is seeking to achieve.

Over the next year, OCTA will be acquiring several new strategic partnerships which will enable the brand to go further, bringing rewards, gaming peripherals, experiences, VIP access to new content, physical and digital items, events, and a 3D world in which gaming expression can find its home.



Octans Defined

Why was the Octans Protocol created?

TOKENOMICS

The Octans Protocol is a decentralized finance (DeFi) token deployed on the Binance smart chain (BSC). Octans employs two central features in its protocol: static rewards for each holder as well as an LP acquisition mechanism. The initial supply of OCTA was 1 quadrillion with half (500 trillion) being burned pre-launch; thus, creating an initial circulating supply of 500 trillion tokens.

The Octans Protocol was created to combat some of the following concerns of the DeFi Currency world: Yield Farming, Liquidity Mining, and Staking. These concerns force holders to lock their tokens away for a specified time to incur potential profits. However, quite often we have seen that as time goes by, the token’s value ends up decreasing and instead of profiting, the investor ends up losing due to impermanent loss.

Each transaction is subject to an 8% tax in which:4% is redistributed to all existing holders using a reflective mechanism.4% is accumulated internally for the liquidity pool and used in the LP Acquisition process (Explained below).

BuySell

Transfer8% Tax

4%

4%

liquidity poolBNB/OCTA

All Holders(with OCTA in their wallets)


LIQUIDITY POOL ACQUISITION

The static reward (also known as reflection) and Liquidity Pool acquisition mechanisms function as follows:

The LP acquisition mechanism is the process of having the liquidity generated in the form of “CAKE-LP”. This function can be triggered by any normal transaction of the token, as all transfers evaluate the set of conditions that trigger the mechanism.

The main conditions of the mechanism are whether the client/investor is different than the LP pair, and whether the accumulation threshold has been breached. Should these conditions be met, the swapAndLiquify function on the Octans contract is triggered.

With each trigger, the swapAndLiquify function splits the contract’s balance into two halves. The first half is swapped to BNB via the Pancake Swap Router using the Octans-BNB pair thus temporarily driving the price of the OCTA token down. Afterwards, the resulting BNB balance along with the remaining Octans balance are supplied to the Octans-BNB liquidity pool as liquidity via the Router. The recipient of the LP units is defined as the current owner of the Octans contract. This process is automatic and requires no human interaction. It is written directly onto the Octans contract.

At the launch of the Octans protocol, it was decided that these LP-tokens would be burned in order to protect our investors from any kind of liquidity pull/removal.

The reason as to why we choose to perform manual burns is explained in detail below.


AUTOMATIC BURN

At our launch, 50% of the total $OCTA supply was sent to a dead wallet, the burn address. Since this address holds $OCTA, it is considered an existing holder. Due to the static reflection being proportionate to how much of the total token supply a wallet holds, the burn wallet receives around half of all reflections, as it initially held 50% of the total supply.

It is due to the aforementioned that the $OCTA balance of the burn address is ever increasing. This further contributes to the supply of $OCTA becoming increasingly scarce, resulting in a higher, more stable price floor.


MANUAL BURN

MANUAL BURNS - WHY MANUAL?

All the generated LP tokens from the Octans-BNB pool are manually sent to a burn address to avoid Liquidity moves, and to protect investors from any kind of liquidity pull/removal.All the transactions related to the liquidity burn are available at this address:https://bscscan.com/token/0x42e32b5bdf0f249aefbee0f604be25e8fc81ac52?a=0x0000000000000000000000000000000000000001

OCTANS seeks to implement a burn strategy that is advantageous and rewarding for our long-term investors.A continuous burn has its disadvantages. An infinite burn cannot be controlled in any way. Having controlled burns allows for the community to define the purpose of the generated tokens at any moment.


REPRESENTATION OF BALANCES

METHOD 1

METHOD 2

Balances in the $OCTA system are calculated in one of two ways:

Most investors are familiar with this method; the traditional fixed number of units being associated with a user’s address.

This method has to do with static rewards, representing an investors balance as a proportion of the total supply of the token. Whenever a taxed transaction occurs, half of the 8% tax is re-distributed to the holders. The specific amount received per transaction, by each investor, is proportionate to how much of the total token supply the investor initially holds. The more you hold, the more you will receive per transaction, resulting in a lucrative form of passive income.


FINALEOCTA is a long-term project with solidified goals and concept backed by a team striving to bring them into existence. From creating a legitimate use case, to revolutionizing the gaming world, Octans is a project that is here to stay for years to come.

Join us and venture through the galaxies as an Octanaut, the universe is our home.

octa · 2021. 7. 20. · licensed merchandise (disney, starwars, marvel, dc comics etc.) alongside...

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