Mathieu Baril, the CEO and co-founder of Octav, recently highlighted the need for a systematic approach to deciphering transactions in the decentralized finance (DeFi) community. Baril stated that current data labeling tools in DeFi are inadequate, and there is a lack of understanding and guidance for DeFi enthusiasts.
Octav, led by Mathieu Baril and Luc Blackburn, who have extensive experience in companies like Zapper, Accedian Network, and Otodata, aims to address this gap. The platform is backed by notable investors, including Nascent, Polymorphic Capital, Parallel Studio, Spaceship DAO, Investmeows, Possible Ventures, Speedinvest, ACET capital, Paul Desmarais (CEO of Sagard Holdings), and Mark Zeller (AAVE).
Unlike other DeFi dashboards that provide raw data, Octav aims to provide users with a comprehensive and easy-to-understand view of their DeFi transactions. Baril emphasized that current tools like Etherscan and Dune Analytics only provide limited information, making it difficult for most DeFi enthusiasts to comprehend their transactions fully.
Octav’s platform includes a DeFi labeling database, a portfolio dashboard, and data analytics features such as cost basis, profit and loss, and fees paid. Additionally, users can contribute to Octav’s machine learning algorithm, known as “The Brain,” by labeling unknown transactions that are not yet in the database. Once verified, these contributions are automatically updated for all Octav users who have interacted with the same smart contract.
Currently in beta with thousands of users, Octav has already indexed over 100 million transactions across seven integrated chains. While their initial customers are DeFi power users, their target audience extends to anyone who has interacted with a DeFi protocol.
Octav plans to use the capital raised to integrate more chains and stay ahead of the rapidly evolving DeFi ecosystem. The co-founders also aim to integrate with existing crypto tax platforms in the long term, providing a pre-tax reconciliation service for users.
Baril expressed his vision for Octav, stating that they aim to grow their business by expanding their user base among DeFi power users. Simultaneously, they plan to cater to accountants who require a platform to reconcile transactions for tax preparation.
Octav is a free and editable data analytics platform that simplifies DeFi investment activity. It serves as a pre-tax facilitator for traders, tax professionals, and liquid asset management firms, offering valuable insights into cost basis, profit and loss, and more.
For more information about Octav, visit their website, Medium page, X page, Discord community, or Official Docs. Contact Stephen Edvi, the marketing manager at Octav, for further inquiries.
Please note that this content is sponsored and should be considered promotional material. The opinions expressed here are those of the author and do not reflect the views of The Daily Hodl. The Daily Hodl is an independent platform and is not affiliated with any ICOs, blockchain startups, or advertising companies. Investors are responsible for conducting their own research before making any high-risk investments in ICOs, blockchain startups, or cryptocurrencies. All investments are made at the investor’s own risk.
