Price Change Mechanism
How the Price Change Mechanism work?
The pricing mechanism for the OCTO token operates as a flexible calculation formula based on the total number of token holders. Initially, the price of the OCTO token was set at 0.0001 FTM when the number of holders was low.
How the Price of OCTO work?
As users deposit and invest, the number of holders increases, the value of OCTO also increases. When users withdraw/sell OCTO, the token will be burned and the reduced supply will increase the price of OCTO exponentially.
● Let’s explain it with an example:
OCTO prices are calculated according to the 10-second rule. At launch, the initial price of 1 OCTO will be 0.0001 FTM. When the amount of deposits reach above 100,000 FTM, the OCTO value is raised to 0.001 FTM. That means a zero is burned.
Similarly, when the amount of deposits reaches over 1,000,000 FTM into the system, the OCTO value is increased to 0.01 FTM. To achieve the value of 1 OCTO = 1 FTM, the deposit system must reach more than 100,000,000 FTM.
This is how OCTO’s pricing mechanism works.
