CSP DAO Project Review: QED Network
QED is an Oracle protocol and utility token model designed to ultimately interface with any blockchain or smart contract platform. The initial QED platform comprises performance scaling components built on UX Network, as well as treasury and funding components built on Ethereum for secure settlement at the value layer.
The initial version manages Oracles delivering data to smart contracts that typically reside on DeFi platforms. Further rollouts will include other services Oracles needs to provide that create the foundations for decentralised protocols and economies.
QED embeds financial recourse in a codified and trustless smart contract environment with no loss of execution experience.
- The smart contract risk exposure defines oracles bond collateral. Collateral is external to the QED system and not an internal economic token.
- Oracles are subject to dynamic accuracy scoring that determines their capital efficiency and creates a macro survival bias.
- Customers can use a post-execution collateral claim process that includes the most accurate Oracles to participate in the resolution. Restitution of loss is drawn from the collateral posted by erroneous Oracles.
With QED, smart contracts can access data at a frictional cost that does not disrupt their business case, and Oracles can deliver data at scale to a much larger customer base.
$QED is the utility token of the QED network, $QED tokens have multiple utilities in the QED ecosystem.
- Staking: The collateral requirement for Resolution Oracles is determined by the amount of QED that is staked. Staking is done on a rolling 28-day basis, and surplus fees from Inaccurate Resolution Oracle failings are paid to stake QED. Critically, QED is not required to be staked as collateral, allowing “Death spiral” risk.
- Fee Payments: All fees are paid and settled in a mixture of QED and the currency specific to the contract. The proportion of QED is determined by (1-S) from the QED Staking amount. In extremis, at 100% QED Staked, fees are settled with no QED included.
- Governance: As the system develops and matures, QED stakeholders, those bearing the risk of the model, should be responsible for its evolution, and a voting structure will be implemented for QED token holders to make amendments to the model as they see fit.
PARTNERS AND INVESTORS
QED Blockchain Oracle Network
QED is a decentralised Oracle protocol with a robust economic model connecting multiple blockchains, smart contract…
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