Project Rundown Interview with Octaplex
Tell us about Octaplex and the concept behind it?
Octaplex Network was created from a striving to change the defi space and its nature into a more safe, cooperative and unified space than it currently is.
We wish to enhance this space by implementing our ideas and pioneering by bringing our part of the puzzle into the decentralized finance space and thus paving the way for its evolution.
The concept of our project is spread into different aspects including our vision, tokenomics, yield rewarding and networking aspects. They all provide different but significant values to the project to create a fully functional network which serves for the benefit of all.
The Ethereum blockchain is home for most Defi projects. Why did Octaplex choose to go with BSC?
We want to enable all investors to contribute to the project if they wish, as Ethereum gas fees are very often out of the reach of an average retail investor. Binance Smart Chain was our blockchain of choice due to several reasons, such as
Utilizing the low transaction costs, large community base, and ease of use were one of the main factors pushing us forward to start our projects on this network.
What are the core features already in the ecosystem?
There are plenty of features already developed and implemented into the ecosystem. Among them is our Decentralized app which enables it’s users to receive multi-token rewards in tokens of each user’s choice. Each user can utilize this yield system to receive up to 6 different tokens in % ratios of their choice out of a constantly expanding portfolio of tokens to choose from.
Our contract has numerous mechanics to ensure the best possible foundation for building the project further. These mechanics include a lottery which is included into every buy or transfer transaction, along with an airdrop system making the investing experience open to positive surprises as well. The contract has an anti-whale system implemented and very unique tokenomics which aim to ensure the optimal balance between a stable liquidity pool and solid rewards for all investors. There is also a buy-back and burn function which stabilizes the price and brings a deflationary aspect into the supply of our $PLX token.
One of the features that is currently in development and we hope to see developed soon is our network’s swap exchange “PlexSwap”. It will be a safe exchange featuring the projects included into our network and a few more features which are to be revealed in time.
There is much more in development and is to be revealed to our community as the roadmap and expansion progresses.
You mention that the ecosystem is continuously growing? What are some of the features you plan to introduce?
There is a lot we plan to introduce and our ideas are constantly evolving by acquiring new partnerships and observing the good and not so good points of our existing ideas.
The team is aiming to deliver in the most efficient way we are able to, and take a steady but sure approach into developing our goals.
We plan to introduce several new features to the ecosystem — a wallet that will be connected to our ecosystem and the dapp for an easier user experience. Our safe swap is currently finishing it’s development and will get revealed to the public in no time. There is also a very important aspect of the network, or better to say a materialization of our vision — an online space for the community and network’s projects where everyone will be able to participate and receive benefits from the network. It will be a community social space that brings lots of features with itself, but all of it will be revealed slowly to our community as the development and our new whitepaper is released.
How will you choose the partners to bring on board for this novel project?
We are very fond of ambitious and communicative partners. Teams which share the same vision as ours in terms of upleveling the defi space into a more connected and safe space for everyone. Usually our path to arranging new partnerships includes a partner meeting on Zoom so that we might connect better and see who we are working with. Utility or a strong idea are also always a welcome part of any project who might want to partner up with us.
Let’s get into tokenomics. Tell us more about the $PLX token and its role in the ecosystem?
$PLX is our native token and is currently the central point of our rewards system. It enables users to enter the rewards, airdrops and lottery systems simply by acquiring any amount of the tokens. Airdrops are an exception as they require a holding of at least 10 $PLX, the rest has no holding amount requirements.. As the development progresses we will delegate new utilities to our native token through the platforms and functionalities of the ecosystem.
What measures do you have in place to ensure the token’s sustainability and longevity?
We see the team’s cooperation, constant development and motivation to develop as the strongest factor to ensure stability and longevity. We trust that a well coordinated, strong and determined team is what makes the difference between well-standing and dying projects. We are determined to keep the project alive and thriving through constant development and creation of new ideas as well as expansion through new partnerships.
These are all ways through which we will keep the ecosystem ever-expanding while also listening to our community requests and implementing the good ones.
Along with the team’s strivings, stability and longevity are backed by a well-thought tokenomics system and contract mechanics created exactly for these purposes.
Give us more details about the other tokens and the multiple token reward system?
Our reward system is a unique and novelty upgrade to the past yield system implemented by numerous projects. We are furthering the evolution of this concept by introducing a multiple token rewards system that users can choose from. Each user can choose up to 6 different tokens to receive their rewards in, out of a larger portfolio of tokens to choose from.
Along with unique token choices, users can also manually decide on their ratios.
All of this is conducted through our decentralized app (dApp) where one can connect their wallet and directly interact with our contract through it.
Could you outline some of the benefits of the multiple reward system to users?
One of the biggest benefits is the freedom that is given to any user to choose their own preferences and also change them at any time. The entrance to all of the rewards ecosystem and the dapp is given simply through the $PLX token which is the point which enables a user to receive any rewards they prefer from the given portfolio. Another benefit is the safety of our community’s investments, as we do not just add any random token to our ecosystem, but instead they are added after a careful evaluation of the project and meeting the team so we might bring a clear minded decision on partnering up.
What does Octaplex’s roadmap look like? What are some of the ventures you are looking into in the upcoming months?
Our current venture, which is being finished at the moment of writing, is the PlexSwap safe decentralized exchange. It will be an exchange which utilizes the already existent liquidity pools from Pancakeswap, so no need to fill another liquidity pool, for the projects from our partners. We aim to create an ecosystem’s exchange in order to present the network’s investors with the opportunity to have a safe and relaxing exchange experience. Either by having a variety of safe projects to invest in, or by having a rug-free experience as only the projects included in the network will be on the exchange.
Another important development venture we are working on is the online space for our network, where our community, projects and companies/influencers will be able to connect into a tangible network of sharing, assistance and growth. We can see this development task as one that will help provide projects who share our vision an easier experience in achieving their goals and upgrading this space with us and all who wish to join. It is, in our vision, one of the missing parts which will help defi and it’s participants achieve greater success and grow together
How about the team? Tell us a bit more about the brains behind the Octaplex network.
The OCtaplex Network core team consists of 5 people from Europe. We have different skill sets which fulfill all the necessary requirements to develop each aspect of the network successfully. The members of our core team have a mixed experience in the crypto space, ranging from 10+ year veterans to developers which have recently spotted the opportunities in the crypto space. Our team is connected by mutual goals to positively change this space and guide it’s evolution by developing our project and connecting to like minded individuals and teams. Besides the core team, our team consists of a moderator team as well. We have 10 more people in the moderator team, including content creators, community experts, graphic designers and social media moderators.
Where would crypto enthusiasts find more information about the project?
Our media and social network channels will provide a great introduction to any part and aspect of the Octaplex Network. For people favouring video content; there are numerous videos on youtube explaining our project. For the reader kind I would suggest venturing into the depths of our project through our media channels https://medium.com/@OctaplexNetwork and our website https://octaplex.io/ which should provide all other relevant links to our social media channels including twitter, reddit and more. For interested people who have further questions or want a more personal experience with our team and the community; they can find us in our official telegram group and we will gladly welcome them, along with answering any kind requests.
As we wrap up? What is Octaplex’s vision? What are you trying to achieve with the ecosystem?
In short — Octaplex is a vision of a safe space connecting multiple projects, communities and individuals into an online network of sharing and growth. We are striving to guide defi into its further evolution built on better foundations and with a more positive focus. Our vision and ideas for the future are backed by our unique yield rewarding system, connecting multiple projects into an inclusive ecosystem which benefits everyone included.
