Octane Testnet is Live!
We’re excited to announce that we have now deployed our dApp on Rinkeby ethereum testnet. We would like to invite you to check our application and give your valuable feedback.
FYI: There is an important announcement in this article, stick with us till the end
What is Octane Finance?
Octane is a fully decentralized rewarding limit order platform driven by network of executors. The goal is to provide users seamless experience of limit orders by removing the friction associated with the current platforms.
How to access the dApp?
- Head on to beta.octane.finance
- Connect using Metamask (ensure that you’re connected to Rinkeby Test Network)
- Get your testnet tokens (WETH - steps below)
- Try your first limit order
Explore Octane as a Trader
Step1: Create a limit order by selecting the pair you want to trade (WETH-DAI), side (buy/sell), amount, and limit price. Once you create the order base token will be sent to compound protocol to generate interest. You can cancel your order anytime (You will still receive interest generated till that time.)
Ensure that you’ve sufficient number of tokens before placing the order.
In the beta we only have one token pair WETH-DAI, So in case if you’re placing buy order you need DAI and WETH for sell order
Step2: Till the order gets executed, you can head on to the Active orders tab, where you can keep track of gains received, status, and transaction hashes by expanding the order.
All the gains will be denominated in DAI in the test phase.
After order execution, your tokens are sent back to compound protocol to generate interest on the executed funds.
Step3: You can withdraw executed funds anytime. On withdrawal, your executed funds along with any interest generated will be sent back to your wallet.
Explore Octane as an executor
An executor network monitors and competes for pending limit orders to get rewarded by the transaction fees.
Anyone can participate in the network to become an executor. To keep it super simple, we have an executors tab with a very intuitive user interface where anyone can just go and execute the orders as per their convenience (Ensure that you’ve enough Rinkeby WETH to execute the transaction)
Order execution will be failed in the following conditions:
If buy order
Current price greater than limit priceIf sell order
Current price less than limit price
Executor engine bots will be implemented in the upcoming version of the product which will make the current execution process of limit orders more reliable.
Get your testnet tokens
Once you connect your Metamask with Octane Dapp, you will find Faucet button using which you can claim 0.001 Rinkeby WETH directly into your wallet.
If faucet button transaction fails or more WETH is required for testing you can visit https://faucet.rinkeby.io/ . You can claim up to 18.75 ETH/3 days which you can later convert to WETH
Core Protocol Contracts
CompoundHandler : 0xd8f76663a9A090616C1A56613869802197a03cec
KyberHandler : 0x0256464a9800B470B7b981A18bF58Ba7D4AD6A50
Octane : 0x965e7ad63b1B484Ee7a94Bb56d6A3AB9c69D46Da
WETH9 : 0xc778417e063141139fce010982780140aa0cd5ab
DAI : 0x5592ec0cfb4dbc12d3ab100b257153436a1f0fea
Whats next?
The next stage in our roadmap is to build community for Octane, integrate Octane with other dApps, and to work on the feedback received.
✨Airdrop ✨
We’re going to have airdrop of 100,000 OCTANE tokens to our first 1000 testnet users, more info here.
Join Our Community!
We want you to be very keen player in our ecosystem! Come and join us on our telegram group.
🔈 Stay updated about the project here 🔈
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