Qian AMA December 9th Transcript
Question for QIAN project
- Can you talk to us about why the project is named QIAN
In the I Ching (the Book of Changes), QIAN represents the universe, the most sublime positive energy and spirit. With this important meaning in mind, we named QIAN as the projects name. In other word, QIAN in Mandarin announcement is the same with money, so, it’s a bi-concept name.
2.Based on DEFI, can you talk to us about the difference between QIAN and other defi project
Compared with the №1 DeFi product MakerDAO, QIAN does not need to pay a stability fee, which reduces the cost of users using stablecoins. At the same time, the Flash Loan function of QUSD stablecoin is introduced to generate income for the purchase of governance token KUN and provide long-time price support of it. In terms of underlying assets, QUSD also supports high-quality assets such as YFI, and XRP-BSC, BCH-BSC, etc. Which will bring QUSD and KUN a wider user coverage.
3.Why the QIAN team chose binance smart chain
As I just mentioned in the above question, with Binance Smart Chain, QUSD can get the best valued backed assets such as XRP, BCH, EOS, DOT, FIL, etc.
All these main crypto token holders and join in QUSD with their token on BSC.
Meanwhile, Binance Smart Chain has high perfermance on DeFi DApps, which is very user friendly, Binance also give supports to DeFi projects on BSC, all these are good news to DeFi developers around the world.
4.What are QIAN’s plans and expectations for next year
As a stablecoin protocol, QIAN will increase the usage scenarios of QUSD in the next year, and at the same time, through the combination of Flash Loan function and high-quality ecology such as stableXswap, it will generate more interaction with the whole DeFi world.
At present, QUSD mining is also in the stableXswap, users are welcome to farming KUN token in stableXswap.
In addition to DeFi, QIAN will further explore the combination with the needs of the Bitcoin/Ethereum miners to expand the ecology of QUSD; it is also planning to use QUSD in the transaction of NFT tokens, c2c trading, payment online, etc.
So, the things that QIAN needs to do in the future are very complicated. We need more outstanding talents, QUSD users and KUN holders to join in the QIAN community and build community consensus together.
Question for SableXswap project
5.How to evaluate the development of stablecoins in recent times
Binance’s BUSD has grown a ton over the last couple years, as have USDC, which has reached 3 billion marketcap. With the growth of Defi, many users have started to rely on DAI and SUSD as core stablecoins within their portfolio, but good stablecoins with different rewards mechanisms and collateralisation systems are important to grow the ecosystem, which is why we are super excited to support QUSD, the largest decentralised stablecoin on BSC.
6.Which LP pools does StableXSwap support
StableXSwap supports BUSD, USDC, USDT, DAI, and QUSD at this time, and soon to be more currencies!
7.U.S. dollar has fallen recently. Will this affect stablecoins?
Not really, most stablecoins are pegged to a dollar, but future pools that feature other pairs like EUR, etc. may be effected in the future.
8.What will StableXswap do in the future
We will be working on a few more defi protocols that all add value to the core STAX token. In particular, we will reintroduce fixed term staking products, more AMM strategies, and hopefully yield earning strategies for users on BSC. For our 4 month roadmap, please visit: https://medium.com/stablexswap/community-update-long-term-vision-and-roadmap-4c6b3689a250
9.How does StableXSwap further develop in the binance smart chain in the future
We are working hard to support as many project teams with stablecoins and tradeable assets on the BSC ecosystem, and look forward to welcoming the next generation of builders onto Binance Smart Chain
Question for QIAN project
10.Has QUSD code passed the audit? By which company?
Yes, QUSD passed all code audit before its officially lauch, the audit firm is Peckshield, which also audited the code of MakerDAO.
11.Is there any other way to get KUN except LP mining?
DEXes:
Uniswap：KUN/QUSD、KUN/USDT (will online soon)
Balancer：KUN/QUSD
Pancake (BSC)：KUN/QUSD、KUN/USDT（即将上线）
Equator (BSC)：KUN/QUSD
Unisave swap: KUN/USDT (will online soon)
CEXes:
CoinEX：KUN/USDT
Hotbit：KUN/USDT
Jaex.co：KUN/USDT
12.What is the relationship between QUSD and KUN, and why is it designed like this
If you are familiar with MakerDAO, you can easily understand that QUSD is like DAI, it is the stablecoin pegged with USD price in QIAN protocol. KUN is like MKR, it is the governance token and guardian of the whole QUSD stability.
13.How many LP pools and wallets have announced support for Qian
Currently, you can use QUSD in Uniswap, Balancer, Unisave, s.finance, SakeSwap and WePiggy on Ethereum network.
On Binance Smart Chain, you can use QUSD in Pancake, Equator, stableXswap, Unisave, bStable. More LP pools are on the way.
All the LP pools can be found at https://qian.finance/mining-eth, https://bsc.qian.finance/mining-bsc.
Question for SableXswap project
14.What is the APY of QIAN protocol LP pool in StableXSwap now
Our liquidity has been fairly strong for the QUSD pools so the rewards from the KUN liquidity mining constitute anywhere from 40–70% APY. Currently, we are the most liquid stablecoin pairs for QUSD across both Ethereum and BSC.
Current Yields
QUSD/BUSD: 79.58%
QUSD/USDT: 65.16%
QUSD/USDC: 26.9%
QUSD/DAI: 46.67%
15.Can you tell us about the stableSwap team
We are a group of decentralised developers and community members spanning 5 continents, with core community contributors in China, Hong Kong, Japan, Thailand, Europe, United States, and Argentina! Our passion is building great smart contract-powered products and have experience with tranditional finance backgrounds to build a more smooth experience for retail and institutionals alike.
16.What are the advantages of StableXSwap in stablecoin swap
StableXSwap was the first stablecoin swap on BSC and also has earned the trust of its users by heavily working to support project teams within the BSC ecosystem as well as spend time to really help our user base through getting to know and use defi. We also have some smart contract expertise and have spent lots of time analysing the current defi landscape, and are confident in our execution to build the best swap experience for users. Currently, we offer a swap with a 0.06% fee, one of the lowest on BSC. We are also confident that our STAX staking system will drive inherent value to participants in the ecosystem.
Question for SableXswap & QIAN
17.What kind of benefits StableXSwap and QIAN bring to us
Users can deposit Qian’s QUSD on StableXSwap to help maintain the peg of QUSD and earn yield while making sure that QUSD stays close to the dollar mark. The better QUSD’s stability is, the more trust the project can earn, and hopefully will allow it to grow into a bigger product in the future.
18.How to join QIAN protocol mining in StableXSwap
https://forum.qian.finance/t/stablex-liquidity-mining-guide-of-kun/277
19.As the mentioned on the stablexswap, there is a withdrawal fee of 0.4975% , do we have any discount for this ?
Yes! So first, let me explain the withdrawal fee. The fee is to avoid having users withdraw all the time from StableXSwap, if you deposit and hodl, you will not have to pay this withdrawal fee, but this is to help incentivise constant liquidity for our users.
Of course, because we understand that this is still a friction, we want to do something special for the avid QUSD fans!
For all of you who deposit into our StableXSwap pools for QUSD and any other stablecoin tokens (BUSD, USDC, USDT, and DAI) within 24 hours of this AMA, we will reimburse you 100% the withdrawal fee, paid in STAX tokens, based on the STAX price on Christmas, December 25th, 11:59PM UTC. Reimbursements will need to be claimed by messaging @stablexswap on Telegram with your qualified BSC address which deposits into the contracts of StableXswap. Reimbursements will be made by January 1st. The last day to claim your reimbursement of any withdrawal fees incurred will be December 20th, 11:59PM UTC.
Quian: https://qian.finance/home | https://twitter.com/QIAN_Stablecoin
StableXswap: Website | Telegram | Announcements | Twitter | Github
