CoinDCX, a popular Indian crypto exchange, has recently integrated with Okto Chain, an orchestration layer that simplifies interactions with web3 environments for users and developers. Okto Chain offers easy-to-use software development kits (SDKs) for developers to integrate Web3 functionalities into their applications, leading to a smoother user experience similar to web2 applications. With this integration, CoinDCX users can now access 50,000 tokens within the exchange’s mobile application’s web3 mode, including major ecosystems like Polygon, Binance Smart Chain, Solana, and more.
Users of CoinDCX will also benefit from on-chain rewards, OKTO airdrops, and self-custody services within the app itself. The exchange is also rewarding users with Okto points for every web3 transaction as part of the launch. Okto Chain’s chain abstraction allows users to perform cross-chain token swaps and multi-chain identity verification, enabling seamless interactions across multiple blockchains. Additionally, the web3 mode allows CoinDCX users to use INR without the need for additional wallets, allowing them to buy tokens like ETH and Matic directly using fiat currency.
Neeraj Khandelwal, the founder of CoinDCX, highlighted the positive feedback received from users regarding the integration of Okto Chain, emphasizing the enhanced user experience and accessibility. Okto Chain, which was first introduced in May 2024, is a zero-knowledge roll-up chain secured by a decentralized set of Proof of Stake (PoS) validators. The blockchain’s abstraction layer integrates Decentralized Wallet Networks (DWNs) and Decentralized Transaction Networks (DTNs) to facilitate unified wallet accounts and transaction orchestration across multiple chains.
Apart from the CoinDCX app, users can also access the Okto Chain ecosystem through the Okto wallet, launched by the exchange’s defi arm, Okto, in 2022. The wallet provides access to over 100 decentralized apps (dApps) and 20+ blockchains, allowing users to hold the OKTO token, the network’s upcoming native token. This integration of Okto Chain with CoinDCX demonstrates a significant step towards streamlining crypto transactions and enhancing the user experience for individuals engaging with web3 environments.
In conclusion, the partnership between CoinDCX and Okto Chain represents a strategic move to simplify interactions with web3 environments and provide users with a seamless and user-friendly experience when trading cryptocurrencies. The integration of Okto Chain’s orchestration layer into the CoinDCX app enables users to access a wide range of tokens, perform cross-chain operations, and enjoy on-chain rewards and self-custody services. With the growing demand for more efficient and accessible web3 solutions, collaborations like this one are expected to drive innovation in the crypto space and cater to the evolving needs of users and developers in the digital asset ecosystem.
