USDC 💵 & ADA🌟 support added

Two more options to share with team members as crypto perks

It’s often noted, “Variety is the spice of life.” So we’re excited to add two more tokens to the Quidli pot — USD Coin (USDC) and ada (ADA). Users can now buy/deposit, receive, manage and share USDC and ADA in addition to Bitcoin, Ether, and Dai, all directly from your Quidli accounts.

USDC

USDC is a cryptocurrency designed to be pegged to the US Dollar (1 USDC = $1). Hence it’s frequently referred to as a stablecoin, which are largely used to bring price stability to crypto-based transactions. What’s that, you say? This sounds familiar? Isn’t this just like Dai, which we’ve already made available on Quidli? Well, yes and no…

Like Dai, USDC is a stablecoin that’s mainly run on Ethereum and is programmatically fixed to be valued at one US Dollar. But the similarities end there. USDC is the first offering from Centre, a joint initiative by Circle and Coinbase to help financial institutions launch and manage regulated and licensed fiat currency-backed stablecoins. So unlike Dai, USDC is very much centralized in its management and distribution. Given, however, that USDC transparently ensures its billions in value are maintained via reserves of actual dollars, it’s become a hard-pegged alternative to Dai’s soft-pegged approach (note: USDC also makes up ~4% of the total locked collateral used to back Dai).

Per Centre’s website:

USDC is an open source project that works within US money transmission laws, uses established banks and auditors and runs on blockchain technology via smart contracts. This is true financial and operational transparency.

ADA

Ada is the native cryptocurrency of Cardano, a newer blockchain (launched in 2017) that runs on a Proof-of-Stake system and enables all ADA holders to actively participate in network governance. Developed with a total supply of 45 billion tokens, ADA currently maintains a circulating supply of ~31 billion, according to crypto market data platform CoinGecko.

Beyond Bitcoin, blockchains and tokens aim to usher in an Internet of Value; and the most notable initiatives today, whether deliberately or not, have features and aspects “unique” to their own networks. In the case of Cardano, often recognized for being a collaborative effort between developers and academics, ada holders may directly take part in network governance, a point other blockchains tend to delegate to external layers or even off-chain. As such, we’re excited to introduce ADA/Cardano as the first non-Bitcoin, non-Ethereum-based option on Quidli, and to provide users opportunities to access and engage with the dynamic Cardano ecosystem and community.

Per Cardano’s website:

Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change.

Want to start sharing crypto with your team as portable rewards and perks? Create your team account on Quidli to buy, manage, and share today.

Are you an employee or freelancer who wants to receive crypto perks from your company or client? Fill out this request form and we’ll reach out on your behalf.

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