QuarkChain Monthly Project Progress Report: September 2020

Published in

QuarkChain Official

4 min readOct 3, 2020

Dear Community Members,

Welcome to the 57th QuarkChain Monthly Report (September, 2020). This is our September issue. We will post monthly reports inclu ding development progress, monthly news, and events at the end of each month. In the future, QuarkChain strives to do better. Let’s review what happened in the past month!

QuarkChain mainnet added support for qkcli test in goquarkchain.
1st AMM DEX supported by QuarkChain, Equalizer, was officially launched.
Equalizer, got more than $25 million staked in the first 3 hours, is holding a Deposit & Trading Campaign.
Qi Zhou, Co-founder and CEO of QuarkChain, attended ｢POW’ER 2020 DEFI Conference｣.

1) Development Progress

# Major Updates

## Added

Added support for qkcli test in goquarkchain

## Updated

Updated total balance counting by including cross-shard deposit

2) Recent news

Equalizer, an AMM DEX with equal and self-adjusting governance token distribution, was officially launched. It’s the first DEX supported by QuarkChain Official.

Equalizer was led by the QPocket team. Qi Zhou, founder of QuarkChain, helps design the innovative token economics model and core code. Moreover, he provides full support in the engineering side as one of our advisors. Equalizer aims to achieve an equal and efficient governance token distribution mechanism.

3) Ecosystem Updates

3.1 Equalizer officially launched, staked more than $25 million assets in the first three hours

Equalizer, an AMM DEX with equal and self-adjusting governance token distribution, was officially launched on 09/29/2020 at Ethereum Block Height 10962000. More than $30 million assets staked in the first four hours. Equalizer’s system adopts a unique liquidity mining mechanism, in which governance tokens will be distributed intelligently by the trading volume. In addition, Equalizer is using a DeFi-optimized token economics, with buyback and burn mechanism to ensure its long term value.

3.2 Equalizer Deposit & Trading Campaign

Increasing the weight of each trading pair by burning EQL is the most innovative design in the Equalizer token economics. To encourage the use of the burning function, Equalizer will hold a Deposit & Trading Campaign. The event held at 10/01/2020, limited offer, first come first get.

【Event Rules】:

1. Add any new trading pair xxx-ETH on Equalizer and provide a liquidity pool for no less than $1,000,000. The Equalizer official will burn 50 EQL for this trading pair to help increase its weight.

2. If the daily trading volume of the trading pair is greater than $30,000 within two days from the time the trading pair is added, the Equalizer official will burn extra 150 EQL to help increase the weight of this trading pair on the third day.

3.3 New Partnership with Vera

Vera is a DeFi Protocol that enables peer-to-peer exchange of physical assets powered by blockchain technology. Vera will provide developers building on QuarkChain secure & reliable oracles to bring data-driven automation to global markets. Quarkchain will work with Vera Prototal to build the future of decentralized finance & e-commerce.

4) Past Events

4.1 ｢POW’ER 2020 DEFI Conference｣ held in Shenzhen, China, on 09/28–09/29. Qi Zhou, co-founder and CEO of QuarkChain, participated in the Conference and gave a speech. The topic: DEX is becoming more and more centralized, a new token distribution mechanism is needed.

4.2 QuarkChain CEO Dr. Qi Zhou had an interview with Well-known Cryptocurrency media Altcoin Buzz, and talked about what are the challenges with Decentralized Finance on Ethereum, type of sharding solutions, Equalizer and token distribution models. Interview video:

4.3 QuarkChain had an AMA with Crypto Revolution on 28th of September. QuarkChain CMO Anthurine attended the AMA, and answered all the questions about QuarkChain’s future plan, DeFi challenge and solution, and the first QuarkChain supported DEX Equalizer.