🐙
Octoblock
  • Welcome To Octoblock!
  • Octoblock Initiatives
    • The Nautilus Trove
      • Nautilus Trove Expanded
      • What is cFyF?
      • ICO Staking
    • Treasure Tesla
    • Coral Cove (DEX)
    • Saltwater Sweepstake
    • The Tentacle Trust
      • Tentacle Trust Governance
  • Token Information
    • Tokenomics
    • Distribution
    • Post-Launch Price Stability
  • Project Roadmap
  • ICO Schedule
    • ICO Payments
  • Contributors
  • Media and Interest
  • Term And Conditions
Powered by GitBook
On this page

Token Information

PreviousTentacle Trust GovernanceNextTokenomics

Last updated 1 year ago

Octoblock's OCTO token serves as the primary governance mechanism for the protocol. The token tax is designed to address MEV sandwich bots and ensure a consistent revenue stream for the nautilus trove. To achieve this, OCTO token imposes a 2% tax on purchases and a 2% tax on sales, resulting in a total round trip cost of 4%.

Taxation and Trading

When trading OCTO token on a decentralized exchange (DEX), it is important to factor in the taxation by adding additional slippage to your trade. However, it is worth noting that prior to its launch on centralized exchanges (CEX), contributors will eliminate the tax function for tokens traded on CEX.

Considerations for CEX Traded Tokens

It is essential to consider that tokens traded on CEX without the taxation mechanism will not qualify for Nautilus Trove airdrop rewards. Therefore, users should carefully weigh the implications of trading OCTO tokens on CEX in relation to the potential loss of airdrop rewards.

Network: BNB Smart Chain Contract Address: 0x49eb799dbd56c20c5d67f99ffa3dd5fde0c2da17

Taxation: 2% on Buys, 2% on Sells

Audit: Ongoing