CoinDCX, a leading cryptocurrency exchange, has announced the global launch of Okto, a decentralized finance (DeFi) wallet app. Okto aims to provide users with simplified and secure access to a wide range of DeFi services, while enhancing the overall user experience. With the introduction of Okto, CoinDCX has also implemented an advanced AI-based multi-factor authentication system to ensure the security of self-custodial DeFi wallets.
Enhanced Security and User-Friendly Interface
Okto offers users the ability to swap thousands of tokens and explore vetted DeFi opportunities. Regardless of the underlying protocol, the mobile app provides a consistent and user-friendly interface. One of the notable features of wallet is the elimination of the need to safeguard seed phrases, granting users full control over their funds. To further enhance security, the wallet incorporates consensus-driven multi-party computation (MPC) technology, ensuring that private keys used to access and control funds are never fully exposed.
Protocol Integrations and Cross-Chain Functionality
CoinDCX has already integrated Okto with six protocols and has set an ambitious target of integrating 100 protocols within the next four to six weeks. Okto supports Web3 chains such as Polygon, BSC, and Avalanche, as well as protocols like Stader and WooFi, among others.
This wide integration enables users to seamlessly interact with multiple protocols through a single interface. Wallet’s cross-chain algorithms simplify the complexities of DeFi and allow users to conveniently pay gas fees in any token, optimizing transaction efficiency.
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Earning Opportunities and User-Centric Design
Okto’s earn functionality empowers users to earn returns on their existing tokens by participating in liquidity pools and staking, providing a passive income stream. Additionally, the wallet’s swap feature facilitates seamless trading between different supported tokens, thanks to its user-centric design. Okto also offers boosted annual percentage yields (APYs) on selected assets, presenting users with enhanced earning opportunities.
CoinDCX’s launch of the Okto DeFi wallet app represents a significant step toward democratizing DeFi services. With its emphasis on security, simplicity, and user-friendly design, Okto aims to make DeFi accessible to a broader audience