OCTION offers loot-box style lottery game to aim at NFT-DeFi partnerships
As we dawn on being the first decentralized options trading platform to offer vanilla options on 5 new asset types including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), PancakeSwap (CAKE) and Dogecoin (DOGE), a new conundrum appears - would the Writers’ Pool be sufficient to accommodate all these new asset types?
In light of this, OCTION is excited to announce a complimentary roll-out feature, the OCTION Treasure Hunt! This feature has been designed to provide additional contribution streams towards the Writers’ Pool that takes on all options contracts on the OPTION platform, along with creating additional utility for $OCTI.
How Does This Work?
The OCTION Treasure Hunt will cost a fixed price in either $BNB or $OCTI to enter. Following a purchase:
- Three treasure chests will appear for you to select from.
- Select one treasure chest.
- Approve the Transaction
- The selected treasure chest will contain a variety of items, including stablecoins (e.g. BUSD, USDT), cryptocurrencies (e.g. BNB, BTC, ETH, OCTI) and/or NFTs.
- You will receive the “treasure” from your selected treasure chest.
- This “treasure” can be more coins or even NFTs
Why Roll-Out This Feature?
There are various benefits towards the launch of the OCTION Treasure Hunt. These include:
1. Strengthening of Writers’ Pool
Part of the proceeds earned from the treasure chests will be used to strengthen the Writers’ Pool. This provides growth opportunities for the OCTION platform as it can continuously take on a larger amount of options contracts.
2. Creating Additional Utility for $OCTI
One of the modes of participation in the OCTION Treasure Hunt will be through the utilization of $OCTI. This will create an additional use case for $OCTI in addition to the existing utilities that are already present for $OCTI in the OCTION ecosystem. This will further drive up long-term demand for $OCTI, potentially translating towards price strengthening. We will introduce OCTI as a buying currency for specific NFT projects.
3. Enhanced Partnership Opportunities
The rollout of the OCTION Treasure Hunt also provides an additional avenue in which potential partners can look to develop partnerships with OCTION. In particular, NFT projects that partner with OCTION will be able to provide their NFTs as part of the potential prizes that can be won from the OCTION Treasure Hunt, providing additional attraction and incentives towards users looking to participate. This creates a revenue stream for NFT projects while offering a different kind of excitement to users. Effectively, this feature becomes a bridge between DeFi projects and NFT projects.
Launch of OCTION Treasure Hunt
The OCTION Treasure Hunt has officially gone live today and users will now be able to participate through $OCTI or $BNB to start earning rewards!
Thank You
As always, THANK YOU for your continued support, and stay tuned for more exciting news on OCTION!
- The OCTION Team
About OCTION
OCTION is the world’s 1st CeDeFi Options Trading Platform built on the Binance Smart Chain. Users will be able to trade options through CeDeFi, with no middlemen, no centralized organization, lower fees, more option types and zero data or market manipulation. OCTION allows for options trading through a democratic framework on the Blockchain, specifically the Binance Smart Chain.
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