From other thread:
OSL and procedural vertex displacement (vector and height)
New nodes: Vertex displacement, and Vertex displacement mixer
You can now render procedural and OSL vertex displacement (either height or vector displacement) before rendering. This is a robust displacement system which doesn't suffer the same limitations as the old displacement system (which is now known as Texture Displacement). Octane also allows you to mix/layer vector/height displacement maps using the new displacement mixer node.
Vertex displacement will take any texture you provide, whether it's a procedural texture, OSL texture, or images. All projections are supported also. For image textures, set the gamma to 1.0. To avoid holes in the geometry the vertices should be shared between adjacent faces.