Q Development AG Saving & Borrowing Incentive Program: A Comprehensive Walkthrough

Decentralized finance (DeFi) continues to evolve at an impressive pace, with decentralized protocols such as the Q Protocol pushing the boundaries. Q Development AG’s recently unveiled Saving & Borrowing Incentive Program has piqued the interest of both newbies and DeFi veterans. This blog post will guide you through the entire program, ensuring you have all the tools and knowledge to maximize your benefits when the program starts.

Q Development AG Saving & Borrowing Incentive Program

Q Development’s Incentive Program

Q Development’s initiative is designed to boost community engagement and reward early users of Q’s integrated Saving & Borrowing application. It’s a journey that takes participants step-by-step through the main features of the Q DeFi system.

Setting the Stage: How to Connect to the Q Protocol

To dive into the Q universe, ensure your wallet communicates with the Q Protocol. Here’s how:

• Network Name: Q Mainnet
• RPC-URL: https://rpc.q.org
• Chain-ID: 35441
• Symbol: Q
• Block-Explorer-URL: https://explorer.q.org

Or, for the technophobes among us, use https://chainlist.org/chain/35441 to connect.

The Attraction: What’s the Incentive?

Once connected, it’s all about making the most of the Q’s integrated Saving & Borrowing app. Rewards await for three activities:

• Asset Bridging: Transfer assets like WBTC, DAI, and USDC from Ethereum to Q.
• Locking Collateral Assets: Lock assets such as WBTC, DAI, or USDC in your Q Vault.
• Locking Stablecoins: Generate QUSD stablecoins and park them at Q’s Saving Portal.

Diving In: Participation Steps After the Program Starts

Step 1: Start by bridging assets from Ethereum to Q via the Q Bridge. New to this? Try it out on the Q Testnet Bridge first.

• Token bridge: https://bridge.q.org
• Token addresses on Ethereum for bridging:
• $WBTC: 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599
• $DAI: 0x6b175474e89094c44da98b954eedeac495271d0f
• $USDC: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48

Step 2: Lock collateral assets via Your HQ dapp by creating a vault and locking collateral assets in it

• Your HQ dapp: https://hq.q.org/saving-borrowing/borrowing

Step 3:Lock QUSD via Your HQ dapp by putting QUSD in a saving contract

• Your HQ dapp: https://hq.q.org/saving-borrowing/saving

Step 4: Monitor the program’s three 3-week phases. Each phase has its TVL (total value locked) goal, so keep an eye on the milestones.

• The adoption goals of Phase 1 and Phase 2 are measured in TVL and set at 300,000 USD and 500,000 USD, respectively.
• Each phase will not commence unless the TVL goal of the previous phase has been reached.

You can monitor the program’s overall progress and check your accumulated rewards here: https://sbp.qdev.li/

Claiming Your Due: Rewards

Your rewards accumulate and will be available once the program wraps up. Access them via a dedicated smart contract and monitor them as the program progresses.

Anticipating Pitfalls: FAQs

• Restrictions: The program is not offered to US persons or persons located in sanctioned jurisdictions and is not available in the United States. Q Development AG does not direct any communication regarding this program to US persons.
• Documentation: All the details can be found here: https://sbp.qdev.li/docs/index.html
• Program Duration: Spread across three phases, the program can last up to 63 days but may end sooner if phase goals aren’t met.
• Program Start: It kicks off in the second half of September. The exact dates are still under wraps, but you can join a waitlist to stay updated here: http://sbp-waitlist.qdev.li/
• Opting Out: Yes, you can opt out anytime. Once the program ends, you’ll still be able to claim your rewards, regardless of whether you opted out earlier.
• Borrowing and Saving Details: Price fluctuations could cause liquidations, so watch your positions. You will incur borrowing fees. But the program’s rewards should cover these costs.
• APR cap: The APR (annual percentage rate) that can be earned through the program’s rewards is capped at 9,999%.
• Rewards for Pre-Program Activities: No, rewards are only for activities done during the program period.
• Claiming Rewards: They’ll be ready post-program, but allow up to 2 weeks for the claiming contract setup.
• KYC for Claiming: There is no need to undergo a KYC process.
• Risks: Remember that DeFi activities are speculative and carry inherent risks. This program is no exception. Exercise caution and make an informed decision before participating!
• Terms & Conditions: Before participating, we ask you to carefully read a disclaimer that outlines the risks of the program and accept the terms & conditions.

Sharing is Caring

Maximize the outreach by sharing your successes and experiences with the broader community. Engaging others enhances the Q community’s reach and steers the future trajectory of DeFi on the Q Blockchain.

The S&B Journey

Q Development’s Saving & Borrowing Incentive Program isn’t just another DeFi scheme. It’s a journey that lets you discover the Q DeFi system step-by-step while getting rewards. Whether you’re new to the game or a DeFi enthusiast, the program is for you!

Stay in the loop! Join the Q community Discord: https://discord.com/invite/YTgkvJvZGD for real-time discussions, updates, and support. Embrace the wild world of DeFi and continue this thrilling journey with the Q Protocol.

Remember, the future of finance is decentralized, and with platforms like the Q Protocol, that future seems exciting and promising.

Happy saving and borrowing!