Tallinn, Estonia, Octafarm, an auto-compounding yield aggregator that seeks to automate the yield farming reinvestment process, has announced that it is launching its highly-anticipated protocol on Binance Smart Chain (BSC). Octafarm aims to be the easiest gateway for sophisticated and non-sophisticated users to access the world of DeFi yield farming in an automated, simple and safe manner. By building a fully-integrated, cross-chain DeFi ecosystem for both crypto natives and the mainstream population, Octafarm is expanding DeFi reach through a unified portal.
The exponential growth of the DeFi space has created a need in solving key DeFi issues such the manual process of yield farming reinvestment and the complexity of protocols for the mainstream population. Octafarm simplifies the entire yield farming process by deconstructing the traditional user lifecycle of DeFi protocols and eliminating unnecessary complexities throughout the process. This process of distillation makes it easy and intuitive for anyone to stake in DeFi pools.
The core of Octafarm’s simple solution is the maximization of profits through automated compounding. With automated daily compounding, users who stake on LP pools that were earning 100% APR can now earn 161% APY without any need for manually reinvesting and wasting time or incurring gas fees. This auto-compounding function will be available to all LP farms across the BSC network through Octafarm.
Unlike other auto-compounding protocols out there, Octafarm is not only focused on creating a one-product solution but instead, are focused on building a fully-integrated DeFi ecosystem for everyone, especially those new in cryptocurrency. Octafarm wants to go a step further and create ancillary products that will augment the DeFi user experience, especially those new to cryptocurrency and DeFi. This core differentiation of Octafarm compared to any other auto-compounding platform is called ecosystem stickiness. While other auto-compounding are focused on just the auto-compounding function, Octafarm aims to do that better and on top of that, create a complete and self-sustaining ecosystem for all kinds of users.
Octafarm have assembled a team of solid developers in the field of cybersecurity & smart contracts development, and also experienced individuals that have scaled financial technology (fintech) solutions globally. The team is set to grow in the coming months. Octafarm is preparing for their token launch soon. The details of the token launch will be shared with the community with due time.
Octafarm is an auto-compounding yield aggregator on Binance Smart Chain (BSC) that seeks to streamline the yield farming lifecycle by automating the reinvestment process to maximize earning potential. Octafarm aims to be the easiest gateway for sophisticated and non-sophisticated users to access the world of DeFi yield farming in an automated, simple and safe manner. Octafarm is focused on building a fully-integrated DeFi ecosystem for both crypto natives and the mainstream population.