The $OCT token$OCT, the native token of the Octopus Network, is a fungible, non-inflationary, NEP 141 standard utility token necessary to perform critical roles in Octopus Network.
Oct-nomicsOctopus Network works as a free market that has limited supply and unlimited demand.
$OCT holders sit on the supply side of the market —They stake $OCT to provide security for Appchains in exchange for the Appchain's native token.Appchains sit on the demand side of the market —They pay rent in their native tokens to lease security from $OCT holders.Only 100M $OCT tokens will ever be created but an unlimited number of Web3 apps can go live as Appchains.
ValidatorsValidators stake $OCT tokens and set up a node to validate an Appchain and collect that Appchain’s native token as block rewards.The Octopus Network has a series of tools to assist Validators, such as Appchain Validator Node Automatic Deployment and Management Tools, Network Economic Views, and Statistical Analysis Tools.Our detailed Validator Guides walk Validators through their node set up and our dedicated Validator Discord Channel provides community support to Validators.
DelegatorsFor a share in the block rewards paid out by Appchains without running a node, Delegators can delegate $OCT to their choice of active Validators delegating $OCT for Appchain rewards is a relatively simple process.Our detailed Delegator Guides walk Delegators through staking their $OCT and our dedicated Delegator Discord Channel provides community support to Delegators.
A token’s governance value can not be decoupled from its utility value in most cases. A critical function of $OCT is to entitle holders to control the governance of the Octopus Network by forming the Octopus DAO. The Octopus DAO Council will have a maximum of 100 members. The Octopus Network DAO Council, Development Task Force, and Governance are all in provision for distributed ownership and operations.
WalletTo hold $OCT or participate in staking as a Validator or Delegator in the Octopus Network security leasing market, you will need to set up a NEAR Wallet. NEAR Wallet is non-custodial, web-based wallet for the NEAR blockchain which is compatible with Ledger hardware wallet.