Qubit Markets Reopening
Hey Qubitians,
Our developers have been hard at work in order to restore the Qubit service. We would like to share some updates with regard to our next steps. This will hopefully be the start of a new phase for the protocol and the community.
1) The Qubit Locker Contract was upgraded on February 17th KST.
The new QBT locker is much more simplified than the previous one. Users can only either deposit or withdraw their QBT tokens to the locker.
Boosted rewards calculation will be simplified.
- No lockup period
- Users can deposit / withdraw QBT at anytime.
- Deposited users will earn Qubit protocol fees (10% to 20% of the repayer’s interest). Protocol fees will be drawn from new markets. — see #2.
2) The new Qubit markets will be opened on February 22nd KST.
- Contract addresses will be updated.
- New markets will initially start with zero liquidity.
3) Qubit compensation
Qubit compensation will begin on February 22nd. We will post another article on how to claim, along with additional details.
Notes:
- Some users supplied their assets between the time of the exploit and the Qubit contract upgrade. The values on the Damage Report calculated with this factored in.
- There is a token price gap between the exploit and the Qubit contract upgrade. so the compensation amount of each user can increase or decrease.
- Some users who already withdrew their assets before the Qubit contract upgrade are excluded from the victim list.
- Updated amount of damage: $88.6M > $90.8M
- Updated number of victims: 5,616 > 5601
4) Qubit on Klaytn
Because of the current situation, we’ve decided to focus on BSC and unfortunately, we’ll be ending support for Qubit on the Klaytn network in approximately one month. Users who supplied or borrowed assets must redeem their assets within that time.
We appreciate your support and look forward to making the updates necessary to move forward!
Qubit. Lend to ascend, borrow for tomorrow.
Qubit Official Channels
Twitter: https://twitter.com/QubitFin
Telegram: https://t.me/QubitFinOfficial
Discord:
