Okto DeFi Wallet Launches Globally: Earn Passive Income in Crypto Across Globe
We are excited to announce that Okto is launching globally. Explore the goodness of DeFi investments with self custody, only on Okto DeFi crypto wallet.
23 MAY 2023, 4 min read
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We are thrilled to announce that Okto is launching globally! The first-of-its-kind self-custody, Web3 wallet app provides secure access to DeFi services that deploys cutting-edge technology to ensure the safety of user’s funds. Okto is your one-stop solution to access the world of decentralized finance (DeFi).

Okto provides a user-friendly and intuitive platform to access financial services within the Web3 world. The mobile app provides unparalleled opportunities to earn additional income on your idle crypto holdings and is designed to ensure maximum security and transparency, so you can transact with confidence.

Okto has introduced an AI-based, Multi-Factor Authentication, a breakthrough technology that promises to revolutionize the security of self-custodial DeFi wallets. With its easy-to-use mobile app, users can gain seamless access to DeFi opportunities that are carefully curated with pre-evaluation and complete risk assessment of the listed opportunities. By combining security, accessibility, and ownership, Okto marks a new era for the world of DeFi.

Here are some of the highlights of the Okto DeFi App:

Intuitive Interface

The user-friendly interface makes it easy for beginners to navigate the world of DeFi.

Multichain Support

The app supports multiple blockchains  chains like Polygon, BSC, and Avalanche, as well as protocols like Stader and WooFi, among others, enabling users to access a wider range of DeFi services and opportunities, offering double-digit returns.

AI-based Self-custody

Okto deploys AI-based, Multi-Factor Authentication, which provides a new security layer to safeguard user funds. Through advanced cognitive AI and MPC technology, Okto ensures that your funds are safe and in your control at all times.

Earn Opportunities

Stake or deposit your single token on the platform and immediately start earning interest without selling your token. Moreover, invest in liquidity pools and unlock unlimited earning opportunities.

Simplifying Transaction Fee

You are not required to hold multiple tokens of each chain to pay for transaction fees. Okto automatically converts your tokens to the desired token.

The wallet is designed to empower users to swap thousands of tokens across chains and earn from vetted DeFi opportunities, all while ensuring a seamless user experience. The wallet supports multiple protocols and has successfully integrated with Web3 chains like Polygon, BSC, and Avalanche, as well as protocols like Stader and WooFi, among others, enabling users to access a wider range of DeFi services and opportunities. Going forward, users will be able to access 1,000+ tokens, 200+ Liquidity Pools, 100+ protocols and 20+ chains on a single Web3 wallet.

One of Okto's key features is its Earn functionality, which allows users to earn returns on their existing tokens by adding them to  vaults, providing a passive income stream. The Trade feature enables easy and hassle-free trading between different tokens supported by a user-centric design. In addition, Okto offers boosted APYs on selected assets, providing users with enhanced earning opportunities.

Okto has an in-built self-custody wallet which ensures full control of funds with the user. It eliminates the risk of a single point of failure using state-of-the-art, custom-built, consensus-driven Multi-Party Computation (MPC) technology. With MPC, private keys used to access and control funds are never fully exposed, ensuring that users' funds remain secure at all times.

Okto is unique due to the innovative solution it provides to tackle the security challenges within the industry. The new security layer within the app uses advanced cognitive AI technology for adaptive and continuous authentication. By monitoring user activities in real time, the system can identify any questionable activity to protect the user against any potential misuse. This real-time security check is completed within microseconds without any intervention from the user, ensuring a level of speed and efficiency that cannot be achieved manually.

Apart from robust security measures, Okto has built several optimisations to handle various failure scenarios and achieve a near 100% transaction success rate. The wallet also provides a seamless user experience by abstracting the complexities of DeFi through cross-chain algorithms. It allows users to easily pay gas fees in any token, making transactions more convenient and efficient. This is enabled by an in-built gas optimisation service operating across chains.

Also Read: How to stake crypto on Okto

In a nutshell, Okto DeFi app is a secure multichain that offers a keyless, self-custody wallet. It aims to simplify the world of decentralized finance by providing a secure, user-friendly, and innovative solution for managing digital assets. Okto utilizes MPC technology to ensure security for users' assets. But what sets Okto apart is the AI-based Multi-Factor Authentication, a breakthrough technology that promises to revolutionize the security of self-custodial DeFi wallets. With support for multiple chains and access to over 100 protocols, Okto offers a seamless experience for users to participate in various DeFi activities. Upcoming products on Okto include dApps, NFTs, and much more. Moreover, users will be able to purchase many tokens simply using a bank transfer or your credit/debit card via our Fiat partner and unlock DeFi opportunities effortlessly.

Okto is now available to download on Playstore for Android users. The App leverages the industry knowledge of its Indian Partner, CoinDCX, India’s largest crypto exchange, and is backed by investors like Coinbase Ventures, Bain Capital, Pantera, and more. Okto has the relevant safety and compliance standards, along with deep tech expertise in its DeFi App.

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Simply access your favourite token from multiple blockchains on a single DeFi app.

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