Q1 Wrap Up & 2023 Roadmap Update
This article is a recap of Quicksilver’s development and project progress for Q1 2023 and an updated roadmap on core features for the remainder of 2023. Quicksilver has onboarded four new chains for liquid staking, the QCK token has launched, and more.
ATOM, OSMO, REGEN, STARS are Available for Liquid Staking
Quicksilver protocol has onboarded four major Cosmos Zones for liquid staking. A chain being onboarded means that users can stake their ASSET, such as ATOM, and receive a liquid staked qAsset. qAssets can be used in DeFi for swapping, pooling, and more.
Liquid-staked assets earn autocompounded staking rewards through Quicksilver, which generate a higher APY than normal, non-auto-compounded staking rewards.
Stargaze Zone
Stargaze Zone was onboarded onto the Quicksilver protocol in January and 2,000 individual wallets staked in the first two weeks of the zone’s onboarding. The team opened a qSTARS:STARS pool on Osmosis Frontier and incentivized it in STARS token, meaning liquidity providers receive rewards in STARS. The APR on this pool is 100% as of this writing.
Cosmos Hub
Following the Cosmos hub’s security upgrade to ibc-go v.3.3.0, the Quicksilver team onboarded the Cosmos Hub onto the protocol in February. Momentum has been strong, and over 30,000 ATOM were staked in the first week. A qATOM:ATOM pool is open on Osmosis and is incentivized in ATOM.
Regen Network
Regen Network was onboarded onto Quicksilver for liquid staking in mid-March. Regen chose Quicksilver as their first liquid staking provider and enabled ICA in order to onboard onto the platform. A big thank you to the Regen community for choosing Quicksilver! A qREGEN:REGEN pool is live on Osmosis Frontier and is incentivized in QCK.
Osmosis Zone
The most recent addition to Quicksilver is Osmosis Zone, host to the Interchain’s largest decentralized exchange. We are thrilled to extend a warm welcome to the Osmosis community as they join the Quicksilver ecosystem. A qOSMO:OSMO pool will be opened on Osmosis soon.
QCK Token DEX Listing
The QCK token listed on the Osmosis DEX. The LP pair is QCK:OSMO. QCK holders control the Quicksilver protocol, delegate tokens to secure the chain, receive rewards in QCK and in ATOM/STARS/REGEN, and more. Read more about QCK utility below.
Read about QCK utility & QCK incentives and liquidity.
Quicksilver Chain Inflation
Inflation has started on the Quicksilver chain as of Monday, March 20. Inflation empowers Quicksilver by incentivizing stakers to secure the chain, supporting decentralization on native chains onboarded to the protocol, incentivizing protocol adoption and usage, and supporting the Quicksilver community.
To support this vision, inflation emissions will be distributed as follows:
- 80% to Staking Rewards
- 10% to Participation Rewards
- 7% to Incentives Pool
- 3% to Community Pool
The inflation rate will be 25% in the first year, after which it is expected to drop by 25% per year. Inflation can be changed by governance, meaning QCK holders will be able to vote on QCK inflation rates & distribution.
Read more about inflation & QCK tokenomics on Medium.
The First QCK Airdrop is Completed: Stargaze
Quicksilver airdropped more than 220,000 QCK in the first QCK airdrop of many, distributing QCK tokens to eligible Stargaze stakers & to users who minted qSTARS on the Quicksilver protocol.
The Quicksilver airdrop philosophy considers the way users stake, and not just how much. Staking to a decentralized validator with a high governance participation record can help increase one’s airdrop multiplier. Each validator’s voting records & voting power are calculated using on-chain data. The more decentralized & active in governance a validator is, the higher its multiplier score.
As a reminder, the Stargaze airdrop is just the first of many airdrops. Airdrops will continue periodically to thank users who liquid stake their native chain tokens using the protocol; therefore, stakers of ATOM, OSMO, REGEN, and so on will be eligible for later airdrops.
The goal of this airdrop model is to ensure the Quicksilver protocol is in the hands of its present and future community, and QCK tokens are spread as far and wide across the Cosmos ecosystem.
Wallet Integrations on Quicksilver dApp
In our push towards decentralization and accessibility, Ledger, Keplr, Cosmostation, and Leap are now supported on the Quicksilver protocol dApp. In addition, Leap, Keplr, Cosmostation, and Citadel have integrated Quicksilver blockchain staking into their wallet app so that QCK token holders can stake QCK tokens to their preferred validator to secure the Quicksilver blockchain.
What’s Next
Upcoming Chain Onboards
The next chain that is planned to be onboarded onto Quicksilver is Juno. Other chains that are upcoming will be announced at a later date.
Quicksilver in 2023: A Hotbed of Innovation
Quicksilver is committed to its mission of bringing decentralized liquid staking to the entire Cosmos IBC. The team is hard at work deploying features from the existing project roadmap, and looking forward to adding new innovations later this year.
We are grateful to the community of stakers, validators, and partners who make Quicksilver possible and excited about what is to come.
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Quicksilver is the interchain liquid staking protocol for the Cosmos ecosystem and beyond.
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