Octav is a data analytics platform that simplifies Decentralized Finance (DeFi) investments for traders, tax professionals, and liquid asset management firms. The platform provides users with a pre-tax facilitator for cost-basis, profit & loss, and more.Octav recently raised a $2.65 million seed to help label the DeFi ecosystem and be the “Quickbooks of crypto.” The platform is led by Mathieu Baril and Luc Blackburn, both of whom have previously worked at companies like Zapper, Accedian Network and Otodata. Octav boasts a variety of esteemed Investors, including Nascent, Polymorphic Capital, Parallel Studio, Spaceship DAO, Investmeows, Possible Ventures, Speedinvest, ACET capital, Paul Desmarais, CEO of Sagard Holdings, and Mark Zeller from AAVE.Octav’s DeFi labelling and tax reconciliation platform includes a DeFi labelling database, portfolio dashboard, and data analytics such as cost basis, profit and loss, and fees paid. It also allows anyone using the platform to contribute to the DeFi machine learning algorithm dubbed “The Brain” by labeling any unknown transactions that are not yet part of the database.Octav is currently in beta with thousands of users, seven integrated chains, and over 100 million transactions indexed to date. The capital raised will be used to integrate more chains to capture the entire DeFi ecosystem. In the long term, the co-founders plan to focus on integrating with current crypto tax platforms where Octav’s database would help as a pre-tax facilitator, reconciling all of a user’s transactions before being ready for tax software.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 9 |
| People | Paul Desmarais, Luc Blackburn, Investmeows., Mark Zeller, Mathieu Baril |
| Companies | Spaceship DAO, ACET capital, Polymorphic Capital, AAVE, Parallel Studio, Investmeows, Sagard Holdings, Speedinvest, Nascent, Possible Ventures |
| Currencies | Bitcoin, primexbt, Ethereum, Binance USD, OctaSpace |
| Securities | None |
