According to DeFi Pulse, the total value locked of DeFi assets on the Ethereum blockchain has risen to $66 billion. The value more than quadrupled since January 2021, when it was at $15 billion. DeFi has also taken off in a big way on Binance Smart Chain (BSC). According to Defistation, the total value locked of DeFi assets on the Binance Smart Chain is $38 billion. The interesting thing is that the market will continue to grow and expand, and Octopus Protocol is one of the projects looking to leverage the rise of this great market.
Octopus Protocol is a decentralized finance protocol that is built on the Binance Smart Chain (BSC). It allows users to issue, trade, and manage decentralized derivative assets. The Octopus platform has a trustless architecture that makes it possible for developers and decentralized autonomous organizations (DAO) to deploy and create derivative assets on the Binance Smart Chain network.
These derivative assets or synthetic assets created on the blockchain network can represent some underlying assets in the real world. Octopus seeks to leverage the huge and untapped potential of the decentralized derivatives market. The ecosystem offers an affordable market solution for the entire decentralized derivatives market.
The Octopus ecosystem offers numerous benefits, and they include the following: