The Octaplex team held an AMA on October 3rd to coincide with the launch of the PLX token on Altbase. The AMA was hosted by Altbase and presented a great opportunity to the communities of both projects to see what makes Octaplex unique, meet the core team and hear about future development ideas.

Octaplex AMA with Altbase on October 3rd 2021

How Octaplex Started

The Octaplex team initially began with K and Hiding, two investors that shared a love for cryptocurrency, who invested in similar projects and shared the same passion for the DeFi space. Two friends of both founding members later joined the team  PBS and Zander, followed by the CEO of the project, Captain.

Together this core team identified the flaws in the current BSC market, the many rug-pulls, and rampant scams, believing there was a better way. Sharing the same vision, the team developed trust with each other quickly and began developing what is now known as Octaplex. They aim to make a difference by creating something that was never seen before and seeking to address the problems they feel are plaguing the DeFi world.

The Octaplex Team

The team consists of:

  • Captain - Project CEO
  • Zander - Programmer, responsible for all technical aspects.
  • Malaya - Content creator, writes the articles and the whitepaper V2.
  • PBS - Operations and management of the moderation teams.
  • Hiding - The great idea man, the Octaplex concept creator.
  • K - Project management - Aligning the individual branches of the project

The Tokenomics Of PLX

The team went into detail about the rewards system and the goals they hoped to achieve with the project's tokenomics, while at the same time enticing investors to hold the PLX token for the long term.

The rewards-based tokenomics serve this purpose with 50% of the buy/sell transfer tax being directly distributed as rewards to holders, 35% is added to liquidity, with the rest being split amongst the remaining operation costs associated with the project.

They aim to reward their community and set a new standard with additional features that include daily random airdrops to holders who hold more than 10 PLX tokens, a 2X lottery on buys, as well as the customization of the overall rewards system by the end-user.

The Current Problems Facing DeFi

The team has extensive experience in the cryptocurrency world and knows all too well the problems facing the DeFi space. Rug-pulls, scams, and dishonest behavior has become all too frequent, especially in the last 12 months. This team rightly believes that this shady behavior is a significant roadblock to mainstream adoption and is the sole reason Octaplex was born.

How Octaplex Seeks To Solve This

The team feel that the only solution to this problem is transparency, partnerships and providing trust to potential investors. To do this, they have created The Octaplex Network with these ideals in mind. 

The big difference with The Octaplex Network is these values. By creating an ecosystem with these ideals in mind, they can provide added investor safety by thoroughly vetting the partner projects in all aspects of the ecosystem. Scams not only impact investors but also the development side, and by creating a family of partners that all work in an alliance to benefit each other, they can minimize this risk for partner projects simultaneously.

Coinpresso And Octaplex Partnership

Octaplex has partnered with the premium cryptocurrency marketing agency Coinpresso for their future marketing needs.  Coinpresso crypto digital advertising agency has a proven track record of success in this space, while at the same time sharing very similar values with Octaplex towards transparency and trust.

Liam from the Coinpresso team gave his insights into the marketing aspect of the Octaplex Networks strategy, going into great detail about the long-term plan to bring organic traffic to the Octaplex network and how crucial this is for long term success. To achieve this, there has been a 6-month plan put in place that includes an increased marketing spend, a website revamp with 15 new informational product pages, more published copy with reputable publishers, and pushing Octaplex to much higher levels within Google Search.

Coinpresso is also partnered with Altbase, and together they provided a listing of Octaplex Networks PLX token on the same day as the AMA, with positive results in the charts so far.

The Long-Term Vision For Octaplex

The long-term vision for Octaplex is vast, and there are many plans yet to be implemented that seek to solve an array of issues currently afflicting the cryptocurrency world. 

Interoperability was the big talking point, and creating a multi-chain ecosystem is the end goal for The Octaplex network. With so many different blockchains that currently do not interconnect, creating a network that can bring all of these chains together is the objective.

For the user, it was removing the need to swap between multiple wallets and platforms for different tokens on differing networks. For the projects, creating an ecosystem that works together for a common goal, sharing knowledge, and ultimately sharing control of the network to create a truly decentralized project that grows and develops on its own.

Octaplex aims to become a fully trusted network that works interoperably,  has a community of trusted partners that share the same values, and builds an ecosystem where the whole is more important than the sum of its parts. 

Altbase Digital Lead & Founder of Coinpresso. Liam manages our technical team and ensures that the website is running smoothly, and attracting organic traffic. He's a keen crypto enthusiast having been trading for 4 years.