QuarkChain X AltStreetBets AMA Summary
Hello QuarkChain Community,
On the 30th of April, QuarkChain had an AMA with r/AltStreetBets, the highest quality crypto subreddit with more than 40,000 members on Reddit.
AltStreetBets is a community formed on Reddit sharing Memes, viewpoints, ideas, and opinions, for all things altcoin and became the biggest crypto community on Reddit.
A large part of the positive and productive discourse has included AMA’s from Projects such as Opacity, Zilliqa, LTO, Smartlands, Banano, Harmony, Zenfuse, DxSale, MetalPay.
You can check the AMA summary below or from the original link: Click
- What are the most significant focuses for QuarkChain in near future?
There are two focuses for QuarkChain now:
- First is to build the next DeFi infrastructure, which addresses a couple of existing issues on ETH/BSC including scalability/usability/security. This includes multi-native tokens so that no “approve” is needed to join DeFi.
- Second is to become sidechain/L2 of Ethereum/BSC so that the assets on existing chains can be easily moved to QuarkChain. This includes a bridge that users can move their assets in the easiest way.
2. QuarkChain is a very impressive project that has the ability to compete with big names, but few people know about it. You have a plan to make yourself visible, especially now, when a lot of people come to the crypto world and its alt season.
We have a couple of plans to make QKC to be known by more markets, especially new markets:
- More collaborations with well-known organizations — a couple of big names are in good progress
- More dApps will be launched on QuarkChain with marketing events to attract users. We especially encourage our community members to build on top of QuarkChain.
3. What will be the goals in the upcoming NFT program?
The goal is to help users to be familiar with our multi-native token — it is like a domain and users with the domain can freely issue their token like QKC, (e.g., QTLSA, QQQ500). Owning the native token is like using QKC itself — users can transfer the token to another one and join dApp without ERC20 approval! This is a great improvement because users do not need to worry about approving bad contracts that may steal their assets in their wallets!
4. Why there is so much lag in this coin during the alts season! Is there any specific reason?
There is a market discovery process, and we are preparing several marketing events to help that (and thanks to AltStreetBets)
At the same time, this means that QKC may have great potential values in the alts season when its current price is relatively low.
5. I am from India. India is supposed to be a huge market for cryptocurrency in near future. What are your plans to market QKC here in India?
India is a great market for cryptocurrency and is growing rapidly. We would definitely put our best effort into India and make QKC known. We are also open to more opinions on marketing in India. Feel free to reach us at Reddit or email (email@example.com) about your suggestions on marketing in India!
6. I would like to ask when Binance will be able to swap from ERC to mainnet, it’s causing much confusion. (and it is going on for years now)
My other question is why qkc can’t get an usdt pair on Binance (i know about busd)?
We are in the good progress of mainnet support of QKC with Binance, and we will announce it’s ready when the technical side is done.
Meanwhile, we will still support ERC20 for a couple of reasons:
- With ERC20, QKC can easily join the existing ETH DeFi ecosystem. For example, QKC/ETH is listed on a DEX called equalizer (www.equalizer.fi), and currently has 4M liquidity according to the analytics page (info.equalizer.fi)
- Several exchanges (such as CB) favor ERC20 more compared to mainnet. This makes it much easier to list QKC.
Further, we are going to create a BEP20 QKC token, so that QKC can also join the BSC DeFi ecosystem shortly!
7. How does QuarkChain plan to provide a secure, decentralized, and scalable blockchain?
The plan is achieved by a couple of unique technologies we have built:
- We implemented proof-of-staked-work (PoSW) that improves the security and decentralization of the existing network
- Sharding is our way to address scalability. Meanwhile, we are proposing a high-performance shard plan (and discuss with ETH community https://ethereum-magicians.org/t/eip-alternative-eth2-0-a-non-sharding-approach/4857
In all, achieving these three goals is not an easy job, and we sincerely invite more community members to help build the technology and ecosystem together!
8. What are the steps taken to increase the use case of QKC?
QKC has multiple versions including ERC20, mainnet (and BEP20 shortly). Without entering CEX, this means QKC can use DEX to exchange other coins. For example, currently, there is 4M liquidity of QKC on a DEX called equalizer (info.equalizer.io).
Further, to support buying products with QKC, we are collaborating with CenterPrime — an online payment company in Korea so that people can directly using QKC (see here https://www.prnewswire.com/news-releases/center-prime-wallet-sdk-now-supports-quarkchain---qkc-qrc20-payment-available-301250822.html).
9. What are the type of tokenomics use to boost the token price
Besides being gas fees like ETH and BNB, QKC currently incorporates proof of staked work to encourage miners to stake and mine QKC. This should reduce the swelling pressure of QKC. Further, the selling pressure can be further reduced by our recently launched StakeDrop event, that QKC stakers will receive our collaborated DeFi project tokens!
10. As we all know QKC is still a solid project with strong technical chops and utility but It lacks massive enterprise and development support, what will be your approach to overcome this.
Thanks for the question. We are working toward several directions on this:
- We are building our bridge solution so that the assets from other chains can be easily moved to QKC.
- We are collaborating with some DeFi team to build the ecosystem on QuarkChain. Recent examples include working with equalizer DEX, where we have 4M liquidity on QKC/ETH trading pair now (according to info.equalizer.fi). Another example is that we work with smoothy.finance so that QKC stakers can receive SMTY tokens by staking their QKC here (http://mainnet.quarkchain.io/stakedrop) — the quota is quickly filled in a few days!
11.What’s the meaning of the name of your project, QuarkChain?
Quark is the fundamental particle of the world, and with the name of QuarkChain, we aim to build the foundation of the blockchain and provide an opportunity to a diversified blockchain world!
12. Is it really your goal to become better as ETH? In which year do you want this achieved?
I don’t think better or killing ETH should be our real goal — instead, our plan is to provide a next-generation platform in DeFi that ETH can hardly offer. I think from the technical side, we are approaching the goal. The major next step is to broadcast our idea and let more people know (and thanks to AltStreetBets in supporting this)!
13. Are there plans to support multiple chains through bridges? (users can of course bridge everything themselves, but more like that you guys provide liquidity on multiple chains and support applications)
Of course. We are building our own bridge to transfer the assets on multiple chains. The bridge is almost done, and we are internally testing it before launch!
14. I want to know the total quantity distributed in erc and the total quantity distributed in mainnet. And please provide the blockchain address so that we can verify it.
The circulating supply of mainnet can be found here.
This is a tool we build that instantly tracks all accounts on mainnet and summates their balances. Further, all ERC20 tokens are backed by mainnet QKC
Developer Community: https://community.quarkchain.io/