So, I set about trying to understand the Oft token. It was not an easy task. To start out, I hit it's Twitter-page, where most crypto-currencies have their HQ when it comes to information/updates etc - as said, it's headquarters.
I couldn't find much information about the website on it's twitter, so I continued to their website. It didn't tell me much at first - I thought. Turns out that the greeting message was mostly what I needed to know - how to buy OFT, how to stake OFT and how to farm (liquid staking) OFT.
The main usage of this Crypto-coin is to stake it (put it in a saving account for a time you choose there and then) or farm it (staking for a non-fixed time) and it has a very low limit of coins available.
What isn't clear to me is what the token really does. It could easily be seen as a scam-coin - up to 70% APY (70% earned (yearly) by letting it sit and do nothing?), but it seems that it uses ethereum technology, and tries to be a kind of "branch" off of ethereum, where it both is and isn't ethereum at the same time. There should really, really be more info about the coin on the website. It seems like they either don't know themselves what they want for the token, or they forgot to pass the message forwards. Either way, the coin seems to suffer from it.
Their home-page seems like it shouldn't be online. If you press "FAQ" you only get redirected to the "why choose us" section, which is completely lacking in info. This coin seems like a "we are very exclusive, and you can be one of the lucky ones to own us" coin. If I didn't know better, I would've thought it was a scam. It's core value is really nice - and, fortunately, there is a possibility to farm/stake other coins than the OFT coin on this site. (currently out of order/not yet fixed) - and let's talk a bit about that.
So, this websites entire usage is to stake or farm a coin. Yet you can neither farm nor stake it yet? Seems like the site got released way too early. I see why you should buy the coin, I really do. But not right now. To me it seems like it's dying because it's development is too slow. The main features of the coin isn't there yet, and it's reaching out, trying to establish itself on the crypto-market. It says it in the footer - "Disclaimer: This a project is beta, Please do not invest more than you are comfortable with."
And these are wise words. This could either be a ride to heaven or go the complete opposite way...
To my eyes, it seems like it's dying because it gave birth too early. If it fixes it's farming and staking functions, either only for it's own tokens or for the other listed, it would be a mature beta-site. Still lots missing, but it would be a functioning beta.
"Beta, named after the second letter of the Greek alphabet, is the software development phase following alpha. Software in the beta stage is also known as betaware. A beta phase generally begins when the software is feature complete but likely to contain a number of known or unknown bugs."
It's listed in the footer as a disclaimer that it's still in its beta-phase. But I can't see any functions working. Is that just me? Well, then teach me how to use this site. Because that's what you're supposed to do.
If you check out it's roadmap, it has projected itself into December 2020. It has some easily reachable goals - yet it's stuck in October 2020. Can't seem to check off it's goals after this point.
(To developers: Use some other DApps, no website like this can function on it's own. This is why Ethereum is a beast, the best. Every crypto-project helps each other. If you throw together 4+ DApps (like CRV+Yearn and Aave? The rest you can find out for yourself.)
Right now this site is a promo for itself, only an ad for how to buy OFT tokens. I was almost about to buy some, and then I saw that there were neither a staking nor farming function. So it's a worthless coin, however scarce it is.