INTRODUCING QUIVER FINANCE
Access to loans at fair rates has been a major headache for most of my adult life and I want to believe I am not alone. I started thinking about doing something about it in 2021 when I had to pay my annual rent in March but most of my money was in my stocks/crypto portfolio and the market was in a downward trend. It wasn't that I couldn't pay, the concern was the loss I would make if I liquidated my portfolio at that point so I gave my landlord some excuses to stall so that the market could recover. Sadly I ran out of excuses for my landlord and I just had to liquidate most of my assets to make the payment. If i had held it till date i’ll have had over 300% Return On Investment. This situation led me to thinking, why couldn’t I just get a loan at a fair interest rate against my assets portfolio to meet my cash obligations and repay at my convenience.
This sounds interesting right? before you go ahead click here to join our waitlist to be the first inline when we launch.
Well up until now, to meet cash obligations such as the scenario above, you could only get a loan from a traditional lender at astronomical rates & exorbitant penalties if you don’t repay the loan at the expected time. Even though the terms of the loans are unfavourable to the borrower, most people especially those in the informal sector are still unable to access these loans because they cant meet the lenders basic requirement such as having a salary account, etc.
This has been a situation we’ve all experienced at least once in our lives and how do you solve it!? I’m here to tell you the answer is simple, YOU GET QUIVER!!
HOW DOES IT WORK?
BORROWING
How does it all work you ask? Through the innovation of collateralised lending powered by decentralised finance. Quiver enables users access low interest loans backed by their assets portfolio within minutes. So in the scenario above, if a service like Quiver existed, I would have been able to access up to 70% of my assets as a loan by following the simple steps below
- Supply my collateral amount
- input how much i wanted to borrow
- approve the transaction
- receive the loan
The whole process takes a maximum of 2 minutes. That’s it, Problem solved! Now you no longer need to liquidate your assets before they mature. We are working on bringing this technology to assets beyond cryptocurrencies such as stocks & real world assets.
SAVINGS AND DOLLAR COST AVERAGING (DCA)
Also you are not limited to just borrowing on Quiver. You can use the default savings plans to create dollar-cost averaged investments in any cryptocurrency of your choice and earn up to 10% interest on your savings or you can create custom plans of your own to earn even more yield by tweaking the parameters described in the steps below such as amount, frequency, duration, etc. follow the steps below to create a simple DCA savings plan
- Fund your wallet
- select a suitable savings plan
- Input amount and DCA frequency
- click on “Create Plan” & you are done
You can also
SAVINGS CHALLENGES
We understand that humans are social beings by design hence we have also created savings challenges. Everyone on quiver is on the default saving challenge, you get points for meeting your savings goals which is tied into our incentives mechanisms (More on that later).
You can also create a challenge and invite your friends to join to encourage saving towards a common goal such as a friend’s wedding, a send-off party or just for the fun of it to see who has the best financial discipline.
CAN I TRUST QUIVER WITH MY MONEY?
All this sounds fun and good but for most people it raises one major concern, can you or should you TRUST Quiver with your savings? Quiver is built on a non-custodial architecture, With this architectural design, no one except you can perform any actions on your assets not even Quiver who built the application, hence YOU DON’T NEED OR HAVE TO TRUST US
A non-custodial wallet enables you to own and control the private keys to your cryptocurrency. Your assets are stored directly on the blockchain and your Private keys proofs your ownership of the assets as well as gives you access to perform any actions on the assets. Without the private keys;
- No one can move the assets from one wallet to another.
- No one can freeze or Seize the assets in your wallet.
However we understand this is a new experience for most people and there’s a risk of people loosing their private keys hence we have built-in safety nets to help you secure your private keys and easily retrieve them incase you loose them.
WAIT THERE’S MORE…….
Quiver’s Vision goes beyond democratising access to low interest loans for consumers and businesses but also includes enabling regular people access the tools and strategies required to build wealth and achieve financial freedom.
We intend to achieve this vision by facilitating mainstream adoption of cryptocurrencies by giving people the easiest means of sending, receiving & spending cryptocurrencies. This would be done by providing access to;
- Cross border remittances for your friends and family in the diaspora
- Payments infrastructure to enable users (merchants & consumers) make & receive payments.
- Short-term low interest credit facilities for users to make purchases and pay at later dates
- Points based Loyalty program to reward users with QuiverTokens
QuiverTokens are ERC1155 Tokens designed to incentivise user loyalty to the Quiver Ecosystem, the incentives would include lower interest rates on loans for token holders, lower transaction (Gas) fees for facilitating merchants payments, rebates for users recurrent payments, Trade-able achievement badges that unlock higher tiers of incentives etc.
WEN LAUNCH 🚀 🚀 🚀?
We have been working so hard to bring this vision to Life and we are happy to announce that our beta program would be launching in Q2 2022.
To get early access to Quiver kindly indicate interest by filling the form here and we’ll save you a seat only if you hurry, there are very limited slots available and we have some special treats for the first 1000 people who make it into the beta program.
