CoinDCX Launches DeFi Mobile App, Plans to Shift Towards Web3

To make crypto successful in India, users must migrate to Web3 and DeFi, which is currently very difficult to access, co-founder Neeraj Khandelwal said. As he pointed out, the concept of seed phrases and private keys is crucial to understanding, something that is difficult for the average person to comprehend. In addition, the information must remain secure. Moving assets between chains can be complicated to understand for a novice and are rife with risks.

Secure DeFi Navigation Through DeFi Mobile App

By providing access to the top liquidity pools in DeFi, Okto aims to enable users to "securely navigate DeFi and access thousands of tokens from numerous DEXs across chains," "exchange cryptocurrency anytime, anywhere, and maximize their profits."

CoinDCX expects Okto will give users access to more than 100 protocols and 20 chains as a completely native mobile app constructed over months by a team of 50 while also pursuing openness in the spirit of assisting "people make educated judgments regarding risks." The product lacks a key because all that is needed from users to access it is a simple email address and phone number, which are secured using Multi-Party Computation (MPC) technology, which eliminates the need for consumers to keep complicated private keys.

Okto Launch To Occur In Two Stages

The Okto launch for CoinDCX will occur in two stages. At Unfold, a Web3 tech conference they are hosting this weekend, they will first announce a waitlist. In preparation for the second step, a complete "launch in around two weeks, the material will be posted on their website. Okto will be accessible worldwide as a standalone Okto App and part of CoinDCX Pro in India. CoinDCX has been actively promoting itself to increase public knowledge of cryptocurrencies and, at one point, even hired Amitabh Bachchan, the Indian mega-star, as a brand ambassador.