Octane Finance

What Is Octane Finance(OCTANE)? Complete Guide Review About Octane Finance.

What Is Octane Finance(OCTANE)?

Octane Finance is redefining limit orders by making them smart & rewarding. A coins follow the optimal capital path for idle limit orders. A long-term vision is to become a highly capital efficient & rewarding trading platform built upon open-source protocols. A limit order is an order to buy or sell an asset at a specific price (limit price) or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. Octane leverages existing DeFi lending/yield protocols to generate the best APY on pending limit order assets.

Octane Finance Storage Key Points

Coin BasicInformation
Coin NameOctane Finance
Short NameOCTANE
Circulating Supply4,818,708.00 OCTANE
Total Supply100,000,000
Source CodeClick Here To View Source Code
Explorers Click Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

How does it work?

  • User supplies 10,000 BUSD for this order. Suppose CAKE’s price is $25 at the time of order placement.
  • Octane smart contract then takes the order value 10,000 BUSD and sends it to Venus vault for, let’s say ~10% APY.
  • A decentralized network of highly incentive executors keeps a watch over the pending order pool and executes the order based on the limit conditions.
  • So, executors execute this order at 20$ per CAKE or less by paying the respective gas cost of the transaction. In return, they get OCTANE tokens collected from the user as the transaction fee for this order.
  • Suppose CAKE reaches $20 in 3 months. This means it took 3 months for the order to be executed. Hence, the interest generated on order ~10000*(10%/365)*90 = $246. This $246 interest after any protocol fees is given back to the user in the form of OCTANE tokens. So the user gets 500 CAKE + ~$246 worth of OCTANE tokens.
  • Know this, received CAKE tokens are again sent to Venus to give maximum returns until the user withdraws.

Octane Vs Other Platforms

Both platforms work on a maker-taker model to place and fill the limit orders. Each maker has to wait for the taker to fill the order. This means even if the limit price is reached and there is no taker, then the order will not be executed. Octane Finance does not use a maker-taker model for limit orders, instead, this get execution liquidity from DeFi AMM’s. A company wanted the limit order execution to be at most priority and hence have built a model in which the order does not have to wait for a taker if market conditions meet limit order conditions.

Decentralized

Octane Finance limit orders are not placed on any centralized database. Order is placed via interaction with Octane’s smart contract and executed via a network of executors. This coins existing decentralized network of executors ensures order execution happens. Even if a single executor has blacklisted a particular order and denies execution of the same, there is always some other executor waiting to execute the order and collect rewards for it. As long as the order fee rewards are greater than the executor’s gas fee, there will always be a financial incentive to execute the order.

Best Liquidity

As AMM’s liquidity pools have the most locked-in assets in DeFi, this helps fuel greater liquidity increasing the chances of successful order execution from Day 1 for the protocol to be usable. Order aggregation can be done across multiple AMM’s to further increase the liquidity and efficiency of the order execution. Anyone can participate in the network to become an executor. To keep it super simple, Octane Finance are going to have an executors page with a very intuitive UI where anyone can just go and execute the orders as per their convenience.

Best Order Execution

No issue of lack of funds in the user wallet as the limit order assets are already locked inside Octane Finance (generating an APY on the limit order assets). No need to wait for a taker to execute the order. Order is filled with a liquidity provider pool of any AMM. A trader can place limit orders on Octane for supported token pairs. The trader can choose a limit price at which he/she wants to buy/sell a particular asset with customization on expiry time and execution slippage.

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