Octokn (OTK) is a cryptocurrency that serves as the utility token for the Octo Gaming ecosystem. It is built on the Solana blockchain and is used to power the economy within the Octo app, which offers a play-and-earn experience for mobile gamers. The token is designed to provide players with various benefits and opportunities, including in-app purchases, premium subscriptions, and exclusive content. With a total supply of 1.2 billion, OTK is allocated across different sections, including community incentives, developer rewards, and liquidity provision, with a continuous burn mechanism to support the token price over time.
Octokn (OTK) is a cryptocurrency used within the Octo Gaming platform, which rewards users for playing games. The token is leveraged to enhance gaming experiences and provide incentives. Here are the primary uses of OTK:
In-App Benefits:
- Buy in-game powers (only for NFT holders).
- Buy avatars.
- Buy raffle tickets to get prizes.
NFT Upgrades:
- Upgrade Octo NFT levels.
- Fuse Diamond NFTs.
- Unlock chests.
- Mint new Octo NFTs.
- Get additional turns for Octo NFT distributors.
- Access premium staking.
- Purchase cosmetics, skins, and avatars.
Health Recharge:
- Recharge NFT power usage in-game.
- Community Access:
- Access DAO Guilds.
- Access the Telegram Whale group.
These uses are integral to the Octo Gaming ecosystem, where players engage in various games and earn rewards, promoting a more interactive and rewarding gaming environment.
To store Octokn (OTK) tokens securely, you can use a cold wallet, which is a type of wallet that is not connected to the internet. There are two main types of cold wallets:
Paper Wallet: This is a physical wallet where you generate and print your public and private keys offline. You can store the printed QR codes in a secure place, and use them for transactions when needed.
Hardware Cold Wallet: This is a physical device that stores your cryptocurrency keys. It is a USB drive-like device that you can use to manage your assets. Hardware cold wallets are considered highly secure and are often preferred for storing large amounts of cryptocurrency.
Additionally, you can use the Octo Wallet, which is a non-custodial wallet integrated with the Octo app. This wallet supports not only SOL but also OTK and The Octos NFTs. It allows users to generate a new wallet or import an existing one using a 12-word seed phrase, ensuring easy transfer of assets from other wallets. The Octo Wallet also has a 6-digit pin code for added security.
To buy Octokn (OTK) tokens, follow these steps:
Create an account on a cryptocurrency exchange: Choose a reputable exchange such as Coinbase, Binance, or Kucoin. Create an account by providing necessary information, including your email address and a secure password. Complete any identity verification steps required by the exchange. Research the exchange's reputation and read user reviews to ensure it is suitable for you.
Fund your account: Deposit funds into your exchange account using various payment methods such as credit or debit cards, bank deposits, peer-to-peer trading, or third-party payment channels. The available options may vary depending on the exchange.
Navigate to the Octokn market: Go to the exchange's Buy & Sell section and select Octokn (OTK) as the cryptocurrency you want to purchase. You can choose from different order types, including market orders, stop orders, limit orders, and more. Market orders are the simplest option, while other types offer more control over the purchase price.
Confirm and complete the purchase: Enter the amount of OTK you want to buy, and the exchange will execute the order at the current market rate. You can purchase a fraction of an OTK if you do not want to buy a full token.
Transfer OTK to your wallet: Once you have purchased OTK, you can either hold it in your exchange account or transfer it to a personal cryptocurrency wallet for additional security and passive revenue opportunities.
Additionally, you can also earn OTK through the Octo Gaming app by ranking in the weekly leaderboard, turning the Wheel of Fortune, owning Octo NFTs, and completing daily and weekly quests.