1 Million Qtum Staked for QiSwap DEX

QiSwap
QiSwap
Feb 4 · 3 min read
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QiSwap Nitro Pools

The QiSwap team has decided to keep a share of their native governance token “Qi” in order to develop the QiSwap platform. This gives us flexibility to partner with other blockchain entities in order to maximize pool yields. From this point on, some pools will be flagged as “Nitro Pools” and they will have perpetual faucet drops, effectively rewarding liquidity providers with coins sent directly to their Qtum deposit addresses.

So in order to fill this article with as much fun as possible, we’ll publish the technical details later in the QiSwap learning section and get right to discussing our first Nitro pool, which involves staking 1 million Qtum.

Introducing the “Qtum Beets” Nitro Pool

The QiSwap Decentralized Exchange is built on Qtum, a fast blockchain that is cheap to use, flexible, and stable. The QiSwap team has been promised 1 million Qtum to be staked to further decentralize our home blockchain for 1 year. While the QiSwap team will not take possession of the 1 million Qtum, the rewards for securing the network (the stake) will be shared with the Qtum deposit addresses that provide liquidity for the “Qtum Beets” (Qtum/QC) liquidity pool. This means if you are providing liquidity in that pool, you will not only receive your share of the 0.3% trade fee, you will get a portion of the staked Qtum. Expect this to come into effect February 21st and last 1 year. A big thank you to the Qtum team for making this happen. Please keep payouts of the staked Qtum may require a lot of micro transactions. The gas fees may cost more than the amount sent for smaller liquidity providers, so we will monitor the situation and possibly move the payment dates further apart until we reach a working solution.

Here is a link to a QiSwap frontend, which allows you to interface with the decentralized smart contracts:

The rewarded Qtum will be sent directly to the deposit addresses of those providing liquidity to the pool. The distribution schedule will be similar to the equation used in the regular liquidity pools; depositors will share the Qtum rewards based on the amount of liquidity they provide with respect to how long they leave it in the pool. Please keep in mind there’s no retroactive weight for those already supplying liquidity.

We will provide an address soon so people can watch the 1 million Qtum further decentralize the network.

Please keep in mind that we can cancel this initiative at any time without notice, or change the rules as we see fit.

According to the staking reward calculators, at 20 million weight, there should be about 50,000.00 (50 thousand) Qtum rewarded for this work over a 1 year period.

Here’s a link to a staking calculator, just remember to enter 1 million Qtum:

https://qtum.info/misc/toolbox/stake-calculator

QCash (QC coin) is a stablecoin hosted on the Qtum blockchain that is pegged to the Chinese Yuan. It was introduced in late 2019, and is traded on ZB.com and EXX.com exchanges. At the time of this writing, it is worth approximately $75 million USD. More information about this project can be found here:

Coinmarketcap:

https://coinmarketcap.com/currencies/qcash/markets/

QCash Website:

https://www.quickcash.com/

ZB.com QCash Exchange:

https://www.zb.com/en/markets?area=qc

qiswap

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