The OCTO transparency reporting platform
Openness and transparency are central to OctoFi’s mission in the delivery of decentralized finance <s>oracles</s> tentacles. Innovation is supported by a dedicated fund of governance tokens, or a project reserve, that shall be delegated to foster progress and developments within the DeFi ecosystem.
As a truly community focused initiative, incentives are aligned to the benefit of stakeholders and the long term viability of the project itself. The OctoFi reserve is designed with two main objectives in mind:
- Autonomy: within the ecosystem, governance token mechanisms enable DAO participants in such a way that complete autonomy is achievable, and accelerated for the greater good.
- Innovation: project reserve funding shall be disbursed through the Octagon, a concept for community governed support of transparent (and accountable) contributions to open data initiatives within decentralized finance.
Project reserve structure
With these objectives concerning accelerating autonomy and fostering innovation in mind, OctoFi allocated 275,000 OCTO to the project reserve — representing 34.375% of the total supply of 800k.
Community-driven deployment of funds are intended to incentivise the open-source development of additional dapps, and supporting infrastructure for truly open and transparent data tentacles.
Project reserve governance
Stakeholders are empowered to propose and vote on governance matters for the decentralized autonomous organization (DAO). The allocation and disbursement of funds relating to the project reserve is decided on by OCTO governance token holders themselves.
We understand the importance of effectively and efficiently managing these decisions and are committed to complete decentralization of project governance.