BEIJING, Dec. 19, 2023 /PRNewswire/ — More people and partners from both the US and China can join the cause in promoting programs and dialogues in cultural, educational and business exchanges, which will certainly contribute to the development of one of the most important bilateral ties in the world, said Adam Foster, president of the Helen Foster Snow Foundation, during an exclusive interview with the Global Times.

"It was a unique experience to meet President Xi in San Francisco, and my first time to meet any world leader. I’m grateful that President Xi took the time to meet with me and the other Americans involved in US-China people-to-people exchange during his recent trip to the US. To have President Xi and the Chinese government recognize the work of our foundation and the partners we have been engaged in to further rebuild and strengthen the relationships between the US and Chinese people is quite gratifying," said Foster when recalling his interaction with the Chinese leader during Xi’s recent visit to San Francisco.

Passing on legacy

Foster is the descendant of Edgar Snow, the first Western journalist to introduce Red China to the world. Snow penned Red Star over China, which gave a rare and detailed account of the Chinese Revolution in the 1930s.

Adam Foster’s great-aunt, Helen Foster Snow, together with Edgar Snow, who she met and married in China, championed the cause of making the Communist Party of China known to the world through their writings on the Party and the Chinese revolution.

The Helen Foster Snow Foundation, an organization named after the accomplished journalist and writer, is committed to creating a open platform for dialogue, engagement and practical cooperation, while focusing on exchanges in education, culture, and business, said Foster.

Foster decided to write to President Xi while taking stock of the foundation’s accomplishments over recent years to "emphasize the spirit of international friendship, which Helen Foster Snow embodied."

His letter was signed by 66 members of the Foster family, thanking the Chinese people for what they have done to celebrate Helen and honor her legacy.

He then received President Xi’s reply letter, which he regarded as an honorable acknowledgement of the foundation’s dedication to enhancing exchanges between the two countries.

One of the most important parts of Helen Foster Snow’s legacy from our perspective, is that despite ideological differences that may have existed between her Chinese friends and her, she was able to bridge those differences by remembering that we are all human beings worthy of respect.

Despite any differences of opinion or belief, Helen was respectful to the Chinese people, Foster added.

"While there is still much bridge-building work for the Helen Foster Snow Foundation to do in both China and the US, we hope this recognition of the role our foundation is playing in the bilateral relationship will lead to more people and partners from both sides joining our cause in promoting common-sense, non-controversial programs and dialogues in cultural, educational, and business exchanges," Foster said.

Carrying on hopes

In today’s US-China political climate, Foster hopes that people on both sides can focus on the fact that the people of the two countries have so much in common, and the  two countries can contribute so much more to the world by working together on important global issues.

"Cultural and educational exchanges play a huge role in bridging differences and fostering a deeper understanding between the two nations. We’ve seen this throughout the history of the US-China relationship," noted Foster.

"We saw great examples of how cultural diplomacy can overcome political and ideological differences", said Foster as he pointed to the national finals of the 2023 Invention Convention China (ICC) held in Zhengzhou, Central China’s Henan Province in July as an example.

The Invention Convention Worldwide (ICW) is one of the largest K-12 invention educational activities in the world. Every year, more than 140,000 K-12 students from around the globe take part in this extraordinary program hosted by the Invention Convention Worldwide Affiliate initiated by The Henry Ford Museum.

The Helen Foster Snow Foundation has been supporting ICW China for a long time, which has since become an opportunity to promote non-governmental educational exchanges.

With more than 3,000 young people across China participated in the 2023 ICC, Foster, along with other international guests including ambassadors to China from various countries, was able to enjoy face-to-face communication with the young amateur Chinese inventors and see how these bright young minds establish a connection to, learn about and communicate with outstanding amateur inventors from around the world.  

"As part of this event, we were able to visit the Shaolin Temple, the home of China’s rich kung fu tradition. It was fantastic to see how the ambassadors from countries around the world were able to understand more about China’s history by visiting Shaolin, and to see theirs and our own understanding of Chinese culture grow through this first-hand experience," said Foster.  

The hope of the China-US relationship lies in the people, and its future lies in the youth.

In commenting on what messages he would like to convey to the younger generations in both China and the US about the importance of cross-cultural cooperation, Foster said that more youths from the US and China will foster further mutual understanding through people-to-people exchanges and continuously contribute to the development of the bilateral ties.

"I hope the younger generations in China and the US can understand that the two peoples have a long tradition of cooperation and friendship, and that understanding more about the other country can help eliminate fears and misunderstandings. The coming generations of US and Chinese people must learn to communicate better and work together more successfully than previous generations have done, in order to maintain a peaceful and prosperous world," he said.

Source : Global Times: Carrying on Edgar Snow's legacy and working together toward a better future

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SINGAPORE, Dec. 19, 2023 /PRNewswire/ — Citizens can look forward to Major Updates from Ragnarok Landverse this December! Ragnarok Landverse, one of the newest Ragnarok games, has caught the eye of many during its launch in September. The web3 NFT game based on the "Ragnarok Online (RO)" IP has drawn RO fans worldwide, along with web3 or blockchain enthusiasts.

Top Web3 MMORPG game 2023 – Ragnarok Landverse rolls out Exciting Updates

What makes Ragnarok Landverse so special? 

Many would have heard of the classic, top MMORPG game "Ragnarok Online". Ragnarok Landverse, also an open world game, combines the web3 aspects with MMORPG (multiplayer online role-playing game) elements from RO, birthing a unique web3 game enjoyed by RO fans, MMORPG lovers and web3 gamers. With advanced blockchain technology and pegged to the USDC – a stablecoin, Ragnarok Landverse boasts a strong token economy, giving rise to an active marketplace where players can transact securely with a peace of mind. The result? Being able to earn from playing while enjoying the process.

Thrilling Updates take over December

Maxion, the developer of Ragnarok Landverse, has released exciting updates for December. Ranging from new maps and classes to game rebalancing, these features not only bring fresh events and activities to the players, but also ensure a fairer and secure gameplay and marketplace for the players.

Explore Newly Released Class 2-2 

Maxion has emphasised over several occasions the huge importance they place on player feedback to ensure Ragnarok Landverse remains one of the best MMORPG and crypto NFT games. 

True to their word, they are encompassing player feedback into their major updates in December – new job classes. Classes will be released weekly based on a voting system, where players, or ‘citizens’, can vote for their favourite new class! 

This new update involves jobs from class 2-2 and include Crusader, Sage, Bard/ Dancer, Alchemist, Rogue and Monk. Players are encouraged to vote for their favourite classes, and will be rewarded generously with in-game items, as well as costumes for the top voter!

Pick Your Unique Class

The release of class 2-2 will allow players to choose from 7 different jobs. Unsure what to pick? Read on and see which class fits your playstyle more!

Crusaders, advanced from swordsman class, are a fine blend of physical strength and magic prowess. As one of the most versatile classes, they can be built differently, leaning towards mage, warrior and tank.

Sages, advanced from magicians, excel in PvP environments with various defensive abilities, making them an indispensable teammate when it comes to PvP fights.

Alchemists are advanced from merchants and optimise potion-related skills. Another reliable teammate, alchemists provide buffs for their fellow friends while dealing damage to its foes.

Rogues, advanced from thief class, shine in both player combat and in environment-based gameplay. Capable of utilising a diverse range of weapons, rogues can copy the skills of other players, deeming them a force not to be reckoned with.

Monks, although advanced from acolytes, work differently from their predecessor. They are a versatile class that can deal damage in different ways, and are proficient in PvP settings.

Bards and dancers are advanced from archers. They can deal damage through their magical prowess, playing tunes and dancing to influence the minds of allies and enemies alike. Interestingly, both bard and dancer can come together to perform a piece together, maximising their damage output!

Open the Doors to Brand New Regions

Along with the release of new jobs comes new maps for players to farm in. Two major areas will be available to players this December – Rachel Sanctuary and Ice Cave Dungeon. 

Rachel Sanctuary and Ice Cave Dungeon offer many valuable resources for players. Besides experience gained from fighting against high-level monsters, both maps feature MVP bosses and a variety of prized cards. These cards provide additional benefits and can be sold at the NFT marketplace for high prices! 

The Challenge Ensues

Encompassing the adventurous spirit of all players, Ragnarok Landverse brings forth yet again more challenges with the introduction of the "Endless Tower" memorial dungeon and rebalancing of the MVP system. Those who dare to venture into the heart of the Endless Tower will find themselves on a quest to unlock generous rewards, with the potential to amass over 1,000 Adamantine Blessings!

On top of this, the MVP boss system will undergo new mechanics, including synchronised respawn rates and timing. Additionally, MVPs will now drop a treasure box upon defeat, dropping Adamantine Blessing.

Enlighten the Christmas Spirits

Major updates won’t be complete without a Christmas event! Take part in the Winter Spirit event during this season of giving, and reap generous benefits like Pet Scrolls, event items, exclusive titles and more!

From groundbreaking features to enhanced gameplay mechanics, the myriad of new major updates introduced in this new MMORPG will without a doubt, provide an even extraordinary gaming experience for the players as one of the best RPG games on PC. Embrace the challenge, revel in the excitement, and join the community of avid players who are already discovering the wonders that await! 

About Ragnarok Landverse

Ragnarok Landverse is a PC game that incorporates elements of the classic MMORPG, Ragnarok Online, with added blockchain features like the mining system, land system and NFT marketplace.  Ragnarok Landverse promotes a player-driven economy and incentivizes players who progress in-game. 

Stay tuned to upcoming events and updates!
Official Website: https://landverse.maxion.gg
Facebook: https://www.facebook.com/ROLandverseOfficial
Twitter: https://twitter.com/ROLandverse
Whitepaper: https://maxion-1.gitbook.io/ragnarok-landverse-whitepaper

Don’t miss out! Keep up to date with the Ragnarok Landverse community by joining the Ragnarok Landverse Discord Server.

About MAXION PTE. LTD. 

MAXION PTE. LTD. is established in 2023 to publish official Ragnarok Landverse in global.

Source : Top Web3 MMORPG game 2023 – Ragnarok Landverse rolls out Exciting Updates

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HONG KONG, Dec. 19, 2023 /PRNewswire/ — Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK" or the "Company"), the offshore asset management arm of the Ping An Insurance (Group) Company of China, Ltd. ("Ping An"), recently announced that it has earned recognitions and bagged two prestigious awards from the 2023 Benchmark Fund of the Year Awards[1] and the 2023 Hong Kong International ESG (Environmental, Social, and Governance) Ranking[2].

Ping An of China Asset Management Fund – China Green Bond Fund (the "Fund"), was named the Best-in-Class Mutual Fund in the category of GSS (Green, Social and Sustainability) Bond, at the 2023 BENCHMARK Fund of the Year Awards. Launched in 2019, the Fund is one of the few Asia-focused green bond funds that has a track record longer than three years. Earlier this year, the Fund also received "ESG Fixed Income Fund of the Year (Asia) " at Environmental Finance’s Sustainable Investment Awards 2023[3].

The BENCHMARK Fund of the Year Awards – Sustainability Awards aims to assess the fund manager’s ability to manage medium-to-long-term environmental, social, and governance (ESG) risks and opportunities. Judges evaluate the fund based on the alignment level with the EU’s SFDR Article 8 and 9 regulatory technical standards for sustainable impact.

PAAMC HK also received the Best ESG Financial Service Provider at the 2023 Hong Kong International ESG Ranking, following the recent ESG Investing Award from the Chinese Edition of Bloomberg Businessweek[4]. As a pioneer embodying Ping An’s ESG strategy in our overseas business, PAAMC HK adheres firmly to its commitment to embedding ESG principles at the core of its investment philosophy and practices.

The annual Hong Kong International ESG Ranking is launched by Hong Kong International ESG Alliance to recognize companies with multi-dimensional and balanced development in environmental protection, social responsibility and governance. The Hong Kong International ESG Alliance is co-organized by the Ta Kung Wen Wei Media Group (TKWW), China Certification & Accreditation Group, Institute for China Business of the University of Hong Kong, and Peking University HSBC Finance Academy.

"We are proud to be consistently recognized for our achievements in sustainability," said Mr. Albert Wang, Head of Capital Markets and CIO of PAAMC HK. "The awards reflect our unwavering commitment to ESG principles and our dedication to delivering sustainable investment solutions. Combining our rigorous ESG analysis and a comprehensive ESG framework, we will continue to develop investment strategies that generate competitive returns while driving positive change."

[1] Source: https://benchmark.today/fund-awards-2023/
[2] Souce: https://www.takungpao.com/231106/2023/1216/923558.html
[3] Source: https://www.environmental-finance.com/content/awards/sustainable-investment-awards-2023/winners/fixed-income-fund-of-the-year-asia-ping-ans-china-green-bond-fund.html
[4] Source: https://www.bbwhkevent.com/esg2023

Source : PAAMC HK Clinches 2023 BENCHMARK and Hong Kong International ESG Ranking Awards

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MELBOURNE, Australia, Dec. 19, 2023 /PRNewswire/ — HCLTech, a leading global technology company, recently announced that it has been selected by the Department of Transport and Planning in Victoria, Australia to automate the concession entitlement process for public transport users.

More than 605 million trips are taken on Victoria’s public transport network annually and 35% of these are taken by concession card holders, including students, retirees, veterans and those with disabilities.

HCLTech will develop and support a Concessions Entitlement Validation Platform (CEVP) for the department, enabling instant proof of concession entitlement and a user-friendly passenger interface to apply for and manage concession entitlement. This will improve experiences for both passengers and the department staff.  

The linking of credit card with concession card, enabled by the CEVP, will be a nation-first. This feature will provide payment flexibility for concession card holders. 

HCLTech will deploy digital workflow orchestration solutions and leverage agile development approaches to roll out the CEVP across Victoria. The company will also provide maintenance and customer center support as well as training for the Department of Transport and Planning employees.

"Our human-first approach to designing a solution puts the end user at the front and the center," said Michael Horton, Executive Vice President and Country Manager, Australia and New Zealand, HCLTech. "Over one in three Victorians travel on a concession card and some of them are among the most vulnerable in the community. HCLTech knows that it is important to get this right, using technology to support this cohort while also unlocking business value."

About HCLTech

HCLTech is a global technology company, home to more than 221,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2023 totaled $12.9 billion. To learn how we can supercharge progress for you, visit hcltech.com.

Source : Department of Transport and Planning, Victoria selects HCLTech to transform passenger experience with digital technologies

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HONG KONG, TAIPEI and SINGAPORE, Dec. 19, 2023 /PRNewswire/ — On-us Company Limited ("On-us" or the "Company"), a leading B2B digital voucher solution provider, is thrilled to be supporting with Swire Properties for the innovative voucher pack solution at the White Christmas Street Fair 2023, themed "CHOCOLAND!". This  collaboration highlights On-us’s dedication to sustainability, in line with its focus on Environmental, Social, and Governance (ESG) values.

On-us’s voucher pack solutions allows marketers to distribute multiple vouchers at once, eliminating logistic and administrative efforts.

On-us is proud to be part of the zero-waste Christmas food and beverages (F&B) fair, emphasizing sustainability in every aspect. By introducing a digital voucher pack system, On-us empowers the event’s eco-friendly initiative. Participants purchase digital voucher packs instead of paper vouchers, minimizing paper waste and promoting a more sustainable dining experience.

Dennis Shi, Founder & CEO of On-us shared, "We are delighted to partner with Swire Properties in creating a zero-waste festive celebration. Our commitment to environmental sustainability aligns perfectly with Swire Properties’ vision. The digital F&B voucher pack not only reduces paper waste but also offers a seamless purchase and redemption experience for participants."

The voucher pack solution provides a full-cycle solution, seamlessly managing the creation, distribution, and redemption of e-vouchers. VIPs and staff receive e-vouchers through official omni-channel invitations, ensuring a convenient and secure delivery process. Whereas guests and visitors are able to purchase e-vouchers at the information centre, facilitating the sale and distribution of e-vouchers.

During the fair, over 15,000 vouchers were successfully redeemed, demonstrating the efficiency and seamless adoption of On-us’s voucher pack solution. Not only does it provide immense support to the tickets administration, but it also eliminates the need for IT resources in voucher distribution or merchant redemption. The system supports immediate merchant onboarding and redemption through a user-friendly WebApp, accompanied by detailed redemption records for merchant billing—an all-in-one solution that connects and benefits merchants, marketer and consumer altogether.

This collaboration not only contributes to environmental sustainability but also enhances the overall participant experience. The seamless purchase and redeem process ensures a hassle-free journey for attendees, allowing them to focus on enjoying the festive atmosphere without the need for physical vouchers.

Dennis Shi emphasized, "By supporting Swire Properties’ White Christmas Street Fair 2023, we aim to further expose our brand to the participants and showcase the efficiency and convenience of our voucher pack solution. We believe in providing not just a service but an experience that adds value to every event , all while offering substantial cost savings. Our voucher pack solution presents a remarkable 40 times reduction in carbon footprint emission compared to traditional digital and paper voucher methods."

Embracing sustainability and engagement in events, On-us enhances experiences like the White Christmas Street Fair 2023, envisioning broad applications for voucher packs in diverse settings. From cultural festivals to corporate gatherings and exhibition events, On-us’s versatile voucher pack solution brings efficiency, convenience, and eco-friendliness to various occasions. If you are interested in how our voucher pack solutions fit into your event, book a demo here.

About On-us Company Limited

On-us Company Limited (On-us) is a consumer-minded B2B digital voucher solution provider. Equipped with application programming interfaces (APIs) for omni-channel distribution, On-us is an incentives ecosystem focused on delivering value and deepening customer relationships through customized messages and analysis of consumer behavioral data. Clients include marketers of global financial services providers, people management teams, blue chip property developers, non-profit organizations, and SMEs.

For more information, please visit www.on-us.com.

Source : On-us Powers Swire Properties' Zero-Waste Initiative at White Christmas Street Fair 2023

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SINGAPORE, HANOI, Vietnam and ABU DHABI, UAE, Dec. 19, 2023 /PRNewswire/ — ACX Group and the CÔNG TY CỔ PHẦN SẢN GAIO DCỊH TNÍ CHỈ CARBON ASEAN (CCPTA) – a member of the CT Group, are delighted to announce the signing of a Memorandum of Understanding (MOU) on 2 December 2023 to establish a partnership exploring the development of a carbon credit trading platform in Vietnam.

The MOU envisages ACX and CCPTA leveraging their respective expertise to contribute to the creation of a sustainable and robust carbon credit market in Vietnam. The collaboration aims to address the pressing global challenges related to climate change by fostering the growth of a market that incentivizes and rewards companies for reducing their carbon footprint.

Wei Mei HUM, Global Head of Environmental Products at ACX, said, "We are thrilled to announce our partnership with CÔNG TY CỔ PHẦN SẢN GAIO DCỊH TNÍ CHỈ CARBON ASEAN as we embark on this transformative journey to explore the development of a carbon credit trading platform in Vietnam. This collaboration underscores our commitment to advancing sustainable solutions and combating climate change. By leveraging our collective expertise and resources, we aim to create a robust carbon credit market that not only benefits businesses but also contributes significantly to Vietnam’s environmental goals as well as the rest of ASEAN. Together, we look forward to pioneering innovative solutions that address the challenges of today and lay the groundwork for a more sustainable and resilient future."

The proposed carbon credit trading platform will be powered by ACX’s proprietary technology and will facilitate the transparent and efficient trading of carbon credits both domestically and internationally.

ACX and CCPTA believe that this collaboration will contribute significantly to Vietnam’s efforts to meet its climate goals and promote sustainable development. By fostering a vibrant carbon credit market, the partnership aims to create a positive impact on the environment while providing economic benefits to businesses actively participating in carbon credit initiatives.

For many years, CT Group has been unwavering in its support of Vietnam’s efforts to combat climate change through a comprehensive array of 12 impactful going Green programs with the CCTPA being one of these programs and an critically important tool to support all of Vietnam in its carbon reduction efforts. CCTPA is pleased to welcome ACX to Vietnam with their internationally award-winning platform, expertise, and governance supporting CCTPA internationalization.

Adam Corrall, CEO of the CCPTA outlined the national and global importance of CCTPA and ACX journey together, "ACX international expertise and standing, governance, and award-winning platform adds important capacity and value to CCTPA leadership in Vietnam’s developing carbon credit industry mechanisms. Multi-lateral partnerships locally and with international carbon market policymakers, regulators, and carbon credit exchanges provide CCTPA, ACX, and all of ASEAN essential experiences for becoming a prominent force in global CO2 reduction efforts. At the same time, nations have the opportunity to build and own a new high-value asset class."

About the ACX Group:

ACX Group, including ACX Abu Dhabi (ACX Ltd) and AirCarbon Pte. Ltd., which operate environmental trading platforms in Abu Dhabi and Singapore respectively, caters to corporates, financial traders, carbon project developers and other industry stakeholders. ACX Group provides participants with an efficient and transparent trading platform that is user-friendly, seamless and offers the lowest transaction fees in the market. Leveraging distributed ledger technology, ACX facilitates and scales growth of the environmental product markets to align with global ambitions of achieving Net Zero.

ACX Group is proud to be a member of the International Emissions Trading Association (IETA) and the International Sustainability and Carbon Certification (ISCC), further enhancing its commitment to sustainability and responsible trading practices for carbon and other environmental products. ACX Group has garnered international recognition as the Best Carbon Exchange globally in Environmental Finance’s esteemed Voluntary Carbon Market Rankings for three consecutive years (2021, 2022, 2023), solidifying its position as a leader in the industry.

About CCPTA:

Carbon Credit Trading Platform ASEAN (CCTPA) is the first enterprise in Vietnam to provide comprehensive advisory information to Vietnamese businesses, organizations, and individuals on how to develop carbon credit projects, register, verify, and confirm carbon credits, as well as exchange, compensate, and secure carbon credit loans, and apply carbon taxes regionally and globally.

CCTPA is also researching the implementation of Blockchain and Crypto solutions for the carbon market, ensuring secure and transparent transactions, and building trust among participants. This approach sets it apart as an innovative and distinct player in the field.

Source : ACX Partners With the CT Group to Explore Joint Development of Carbon Credit Market in Vietnam

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SINGAPORE, Dec. 19, 2023 /PRNewswire/ — In the dynamic realm of cryptocurrency, where volatility often reigns, the Octopus Network token has experienced a notable surge in the monthly and annual price charts. This unprecedented climb is not a mere coincidence but a result of strategic initiatives set in motion by the Octopus Network Founder, Louis Liu, and his dedicated team.

"We’re gonna figure out the Octopus 2.0 plan with the only aim to maximize the interest of OCT token holders and the Octopus community."
– Louis Liu at the 6th Octopus Community Call (Jan 2023).

Louis Liu, during the sixth Community Call in January 2023, made a commitment to elevate the interests of $OCT holders and the entire Octopus community. The vehicle for this commitment took the form of Octopus 2.0, a visionary plan aimed at advancing the Octopus Network’s infrastructure and expanding its original design to captivate a wider audience.

"We are trying to find new opportunities to make Octopus Network even more valuable and important. Everything we do is for our community and $OCT holders". 
– Louis Liu at the 2nd Anniversary of Octopus Network (Oct 2023).

Evolution from Octopus 1.0 to 2.0

Octopus Network, unveiled in October 2021, is a NEAR-based multi-chain network designed to offer Rust and Solidity developers a cost-effective avenue for launching Substrate application-specific blockchains (appchains). These appchains, enriched with shared security, utilities, and community support, laid the groundwork for Octopus 2.0. Octopus 2.0 was set to expand on its basic design with new offerings and is ready to be launched on December 17.

The Catalysts for Growth: 5 Key Reasons

1. Launch of Octopus 2.0

December 17 will mark a pivotal moment with the introduction of Octopus 2.0. Octopus 2.0 can generally be divided into three additional offerings for its developers and community—But the benefits are comprehensive:

– Cosmos-based appchains: It diversifies the Octopus appchain offering to include Cosmos SDK based projects. In Octopus 2.0, all Cosmos appchains can be secured by both $OCT and $NEAR.

– NEAR Re-staking: The Octopus Development Team found merit in repurposing the innovative Eigenlayer restaking scheme to aggregate shared security on NEAR. This security mechanism empowers NEAR re-stakers to extend their influence without cost, amplifying NEAR’s re-staking profitability.

– Adaptive IBC: IBC, or Inter-Blockchain Communication Protocol, manages authentication and data transport between two blockchains. It is widely recognized in the industry as one of the most comprehensive open blockchain interoperability protocol stacks. Octopus 2.0 solidifies its role as a primary NEAR infrastructure project, unveiling an Adaptive IBC NEAR Port that connects NEAR Protocol to diverse blockchains, broadening its reach and interoperability.

2. Launch of Ottochain and Massive Airdrop

Ottochain, the first Cosmos SDK-based appchain, leverages $NEAR Restaking as its security source. The Octopus Foundation’s generous 4,000,000 $OCT sponsorship for Ottochain’s validators and delegators marks the single biggest incentive in Octopus history (4% of the total supply of $OCT tokens).

By providing these incentives, Octopus can attract more $NEAR Restakers to join this market and then provide a level of security that is competitive and attractive for onboarding new Cosmos SDK blockchains.

3. Octopus Network & Secret Network

After three years of working on heterogeneous IBC implementation, Octopus Network has developed a solution called "Adaptive IBC" to break the extensibility bottleneck of IBC. Secret Network, a pioneer in confidential computing, is making history as the first user of Adaptive IBC in early 2024. A monumental step connecting Cosmos and NEAR Protocol!

4. *Value Capture Mechanism Upgrade

Octopus is revamping its value capture strategy with a buyback-and-burn model, as announced by its founder recently. This entails utilizing 30% of block rewards from all Octopus 2.0 chains to repurchase $OCT tokens in open markets and subsequently burn them. The decision for this upgrade is rooted in thorough research by the Octopus team, primarily addressing the low engagement in staking despite the simplicity of Octopus 1.0’s delegation process.

Recognizing that many $OCT holders are primarily motivated by token appreciation, the buyback-and-burn approach directly transforms protocol revenue into purchasing power for $OCT tokens, fostering their value growth. Looking ahead, this model is expected to extend to other protocols launched by the Octopus Network, collectively enhancing the intrinsic value of the $OCT token.

5. Octopus Founder’s NDC Election Victory

Louis Liu’s election to the House of Merit in the NEAR Digital Collective on October 8th solidifies his commitment to advocating for $NEAR Restaking. This strategic position enhances the implementation of restaking to benefit the broader NEAR and Octopus community.

The Octopus Token:

The $OCT token is a vital NEP-141 standard utility token (also available in the Ethereum network). $OCT holders stake their tokens to provide security for Appchains, earning the Appchain’s native token. Appchains lease security from $OCT holders by paying rent in their tokens. With a capped supply of 100 million $OCT tokens, the network emphasizes scarcity and value. Remarkably, the network can accommodate an unlimited number of Web3 apps, highlighting its expansive ecosystem potential.

Token Price Snapshot:

As of the latest update:

– All-time high: $7.02 (Jan 16, 2022) – A -93.99% difference from the current price.

– All-time low: $0.09167 (Oct 11, 2023) – A +360.37% difference from the current price.

Conclusion:

The recent surge in the Octopus Network’s $OCT token isn’t merely a momentary spike; it’s a testament to strategic planning and commitment. As Octopus 2.0 approaches with NEAR Restaking, Adaptive IBC and an interesting buyback-and-burn model, the future looks promising. The Octopus Network’s market cap of $25.83M positions $OCT as a low cap token, raising intriguing questions: What potential does this low cap token hold for investors in 2024? With all these developments, will the $OCT token surpass its ATH or set a new record in 2024?

One certainty is that Octopus Network lives up to its name, adapting flexibly in the ever-changing web3 ocean to maintain its presence and contribution to the blockchain industry. Undoubtedly, it’s a project worth keeping an eye on in the next bull market.

Source : Unlocking the $OCT Surge: 5 Reasons Driving Octopus Network Token's Rise

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network