In the crypto space, it’s not hard to raise funds for amazing ideas that benefit the blockchain community and the blockchain ecosystem. Instead of the old-fashioned ICO, Initial Dex Offering (IDO) is a new type of raising funds that is transparent and decentralized.
Launched in April 2021, OccamRazer, a product of Occam Finance, is one of the good examples that applies this fund-raising method to support the long-term success of new projects.
The article below will provide all detailed information about Occam Finance, including:
- What is Occam Finance and the OCC token? How does it work?
- Specific details about OCC token and it’s tokenomic including its up-to-date price, key metrics, distribution and use cases.
- How to get a OCC? Where to store it?
- Occam Finance roadmap and updates & details about team, investors and partners.
Let’s get started!
What is Occam Finance?
Occam Finance is a DeFi ecosystem inside the Cardano ecosystem that consists of three main strategic components:
- OccamRazer: The IDO platform for prominent projects on Cardano. OccamRazer is an ideal place to raise funds and is the most successful component of the ecosystem.
- OccamX: Since the launch of the Cardano mainnet, Occam Finance has been working on creating a competitive AMM-based DEX with Cardano’s technology advantages.
- OccamDAO: A decentralized autonomous entity governed by the community. OccamDAO allows its token holders to have a voice in the ecosystem.
OccamRazer uses the IDO mechanism to raise funds from investors for cutting-edge projects. This leverages the maximum benefit of decentralization and transparency. On the platform, token holders can earn income by providing liquidity to bootstrap the liquidity of the project’s tokens. The team claims that their protocol is perfect for any project size – big or small.
How does Occam Finance work?
OccamRazer uses a tier system that consists of five main tiers described as follows.
- Max Allocation is the maximum amount of tokens you can buy.
- IDO Cool-off is the number of IDOs you have to skip before participating again.
- With Tier I and Tier II, you will have guaranteed access to IDOs.
- Participation Multiples (aka tickets) affect the chance of you getting access to IDOs. The random draw result will be published 24 hours after the IDO registration period.
Before participating in IDOs on the Occam Finance platform, you are required to do the following tasks:
- At least 150 OCC tokens are staked in the pool.
- Complete KYC on the OccamRazer platform.
- Register for the IDO.
- Use ETH to the IDO pool to receive project tokens once the pool is open.
Note: Remember to use the identical address.
The IDO system on Occam Finance eliminates the traditional ICO drawbacks. The team applies multiple features to the platform as follows:
- Fixed price mechanics.
- Private and public pools for seed funding rounds and public ones.
- Community rating feature for projects.
- Front-running prevention.
- Bounty hunting programs, the referral system, and community missions.
OccamX and OccamDAO will be the next products of Occam Finance since the Cardano mainnet release. OccamRazer along with those two products will be the perfect trio, forming a DeFi ecosystem inside Cardano.
Since the early stage, Occam Finance has launched its OCC tokens on the Ethereum blockchain as ERC20 tokens. However, they have released the Ethereum-Cardano bridge acting as a liquidity tunnel that benefits Cardano enthusiasts. Furthermore, it exposes Ethereum users to the Cardano ecosystem, so they can experience the difference between a 2.0 blockchain and a 3.0 one.
What is OCC Token?
OCC is the governance token of Occam Finance, enabling many features on the platform, especially the governance layer.
Detailed information about OCC Token
OCC Key Metrics
- Token Name: Occam Finance Token.
- Ticker: OCC.
- Blockchain: Ethereum.
- Token Standard: ERC20.
- Contract: 0x2f109021afe75b949429fe30523ee7c0d5b27207.
- Token Type: Utility and Governance.
- Max Supply: 100,000,000 OCC.
- Circulating Supply: 13,585,498 OCC.
Note: Occam Finance is a launchpad for projects on Cardano, but OCC tokens are live on both the Ethereum blockchain and the Cardano blockchain. There’s the Ethereum-Cardano bridge (https://occam.fi/swap) allowing users to convert OCC tokens.
OCC Token Allocation
The OCC Token has a total max supply of 100,000,000 tokens distributed as follows:
- Seed Round: 10%.
- First round: 10%.
- Team: 18%.
- Liquidity Mining: 27%.
- CED rewards system: 12%.
- Referral system: 5%.
- Marketing & Incentives: 8%.
- Token Liquidity: 7%.
- Advisors: 3%.
OCC Token Sale
On Apr 14th, 2021, Occam Finance had its OCC token sale with 0.2% of the total supply on its own platform. It raised a total of 160 ETH which equaled to $493,454 at that point.
OCC Token Release Schedule
OCC Token Use Case
OCC tokens are used in many cases, including:
- Staking: Users are required to stake OCC tokens to participate in any IDO on the platform.
- Liquidity Mining: OCC tokens are distributed to pool participants from the liquidity pool based on their liquidity volume.
Governance: OCC token holders will have access to the governance mechanism via voting on the changes of system upgrades, system parameters, DAO investments. However, this feature will be implemented later according to the roadmap.
How to get OCC Token
You can get OCC through multiple CEXs and DEXs: Uniswap, SushiSwap, Gate.io, etc.
Instead of buying on different exchanges, you can earn OCC via Liquidity Mining the OCC-ETH pair on Uniswap.
Moreover, Rebate Rewards are the amount of OCC tokens distributed via IDO pools with a specific OCC supply. After an IDO closes, its participants will receive a portion of the OCC tokens calculated pro-rata.
Continuous Ecosystem Diversification (CED) distributes CED rewards as the tokens of the projects launched on the platform. As long as you stake more than 150 OCC for a while, you will earn a portion of the rewards as project tokens.
How to buy OCC tokens
You can buy OCC token on Coin98 Exchange by clicking the swap button at the bottom of this article and following these simple steps:
Step 1: Connect to the Coin98 Extension Wallet.
Step 2: Select Uniswap.
Step 3: Choose coins/tokens for trading:
- Search OCC.
- If the result does not come up, you can paste the contract of OCC into the search box: 0x2f109021afe75b949429fe30523ee7c0d5b27207;
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to store OCC Token
You can store, send, receive OCC Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with OCC on Coin98 Wallet are as follows.
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search OCC Token.
Step 3: Click on the correct result, copy the wallet address and send OCC to this address.
Roadmap & Updates
Team, Investors, and Partners
Occam Finance has a team full of talents located in the Serbian capital of Belgrade. They were the Winners of National competitions in mathematics and programming, members of ACM ICPC with Olympiad in Informatics IOI medals, and so on.
Occam Finance targets projects on Cardano; therefore, it has many profound partnerships with Cardano core organizations and other crypto platforms.
Is Occam Finance (OCC) a good investment?
Like Cardstarter, Occam Finance chose a shortcut to deploy its platform on the Ethereum blockchain to meet the IDO demand of projects on Cardano. As a result, they gained some success that helped them with their next moves that are DEX and DAO. There are notable highlights from Coin98 for investment considerations:
- Multiple promising projects were launched on the OccamRazer platform. However, the number is still behind Cardstarter with over 13 launched projects. This indicates that launchpad is the hottest sector in the Cardano ecosystem, especially in a newly emerging ecosystem.
- Occam Finance is trying to build an ecosystem starting from a launchpad, showing the ambition of the team. The OCC token is the center of all Occam Finance products. OccamRazer, OccamX, OccamDAO, and multiple extra services all need OCC tokens. As a result, OCC is the biggest token on Cardano in terms of capitalization.
- 150 OCC tokens is the minimum number to buy a ticket for IDO participation on the OccamRazer platform. You can buy OCC tokens on various platforms such as Uniswap, SushiSwap, or other CEXs like Gate.io. This availability and the first Ethereum-Cardano bridge enhance the exposure of OCC tokens, spreading the popularity.
In spite of the poor ROI performance, the launchpad did its job when raising sufficient funds for projects. Although Occam Finance has a great team and huge support from advisors and partners, they are lacking big partners who have a large community to accelerate the network effect that happened to Cardstarter.
Last but not least, a project is great when it lasts even in the most unfavorable crypto market.
Occam Finance is focusing not only on the launchpad but also on other DeFi products, constructing a complete ecosystem. And as usual, whether it is worth investing or not, Do Your Own Research before buying and be responsible for your investment.
In any new blockchain, projects need a launchpad to accelerate and leverage their idea with the support of the community. Therefore, the launchpad sector is now intensive in the Cardano ecosystem, namely:
- On Cardano: Cardstarter is performing a little bit better than Occam Finance in the launchpad race, but Cardstarter is not diversified with other products like Occam Finance. In spite of having Occam Finance as a partner, Emurgo, one of the core organizations of Cardano, released Astarter to accelerate the DeFi development on Cardano.
- On other blockchains: MakerDAO, Polkastarter, and Binance Launchpad are leading the launchpad sector.
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