Tag: Qtum

QiSwap DEX Announces Second Qi Token Airdrop To Fuel Ecosystem Growth

by Dailyhodl

May 18, 2021 – Seoul, South Korea

QiSwap, the leading decentralized exchange (DEX) that utilizes automated market making algorithms, is preparing to launch the second airdrop of its native token. All of the QI tokens will be distributed directly to the community members and other stakeholders that contribute to the QiSwap network.

Since we want to incentivize organic growth of the ecosystem by conducting the fairest possible distribution, we advise the community to keep their Qi tokens in the official QiSwap web wallet or the Qtum QT Core official wallet.

The QiSwap team is working to get the QiSwap airdrop supported by a number of exchanges. But if your Qi tokens are held on an exchange that has not yet confirmed its support for this airdrop, you should withdraw them to the QiSwap web wallet or the Qtum QT Core with QRC20 support.

The Qi airdrop will go to all token holders at a 1:1 ratio, meaning that for every one Qi you possess, you will receive an equal amount of Qi token.

All users who wish to participate in the airdrop will need to hold their Qi tokens during the snapshot time in a QRC-20 wallet or in an exchange supporting the event. The snapshot will be taken on around May 30, 2021, 12 AM KST at Qtum block height #924,270.

Exact time will be announced through our social channels, and it is the Qtum block height that matters. You can watch the progress on the block explorer while the airdrop is deploying.

Remember, if you don’t control the private keys to your Qtum wallet, you may not receive your airdrop tokens.

The airdrop distribution will revolve around a wallet snapshot taking place on the aforementioned calendar date, determining the amount of tokens every user will receive. However, please note that it may take a few hours as the airdrop script takes a while to execute.

Note – since there will be a small gas fee involved in the contract call when claiming Qi, make sure to have Qtum in the wallet to pay for the gas. The gas fees shouldn’t be more than a couple of pennies, and we recommend sending 0.1 Qtum for gas, then sending your Qi tokens.

Liquidity providers also qualify for the airdrop to directly benefit from platform adoption and growth. This token release will establish an innovative new way for those who fund the Qtum/Qi “Qtum Beets” nitro pool.

Specifically, they will be eligible to share in the staked rewards that are created from the one million Qtum allocated to the QiSwap team for one year. This is partly to show appreciation for their hard work and also to ensure the growth and sustainability of the QiSwap ecosystem in a win-win kind of fashion.

Using QI, token holders will be able to vote and contribute to platform governance, a vital aspect of maintaining a decentralized application. The native token of the DEX will have large portions of its total supply distributed through multiple airdrops taking place in order to get QI into the hands of platform users.

To speak with the QiSwap community, please join our Telegram channel.

To see the current Qtum block height, please visit the block explorer here.

QiSwap on CoinMarketCap

About QiSwap

QiSwap is a fully decentralized protocol that automatically provides liquidity for QTUM based on automated market-making (AMM) algorithms. QiSwap is a transparent, censorship-resistant financial infrastructure for QTUM. It is essentially a set of smart contracts that exist as automated market makers in the crypto economy. These contracts are based on Uniswap.

Contact

Carl Carcia, COO of QiSwap

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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Qtum price rallies 160% as the project’s focus on DeFi pays off

by Cointelegraph

After rallying 1.510% in 2021, QTUM price hit a $35.70 all-time high on May 7. This relatively obscure altcoin launched in September 2017 is a fork of the Bitcoin Core 0.13 version, but it also integrates the Ethereum virtual machine (EVM) and smart contract execution capability. 

Following Bitcoin’s (BTC) April 23 crash down to $47,500, QTUM faced a 52% correction in 4 days before bottoming at $10. However, the situation for the altcoin improved on May 5 as QTUM initiated a 160% rally in two days, reaching the $35.70 peak.

QTUM price at Binance, USDT. Source: TradingView

Qtum combines Bitcoin’s transaction model with Ethereum smart contracts

The open-source platform’s primary goal is to provide simple tools that anyone can use to create decentralized applications (dApps) while maintaining a high level of network security. The project opted for a slightly different Proof of Stake (POS) version to prevent malicious nodes, and a certain number of blocks are needed for the staking tokens to become valid.

Qtum blockchain supports smart contract programming languages beyond Solidity, besides having an on-chain decentralized governance protocol. Token holders vote on network parameters such as block size and base gas fee.

While Qtum blockchain features an on-chain governance system, it also has an off-chain process for approving and handling more significant protocol changes. The protocol has recently identified decentralized finance (DeFi) as a focus area and steps to attract new projects.

This strategy seems to be finally paying off, as the number of daily network transactions peaked on May 6.

Qtum blockchain transactions per day. Source: qtum.info

Staking improvements and DeFi pivot send Qtum price higher

Offline staking was implemented in August 2020, and it has grown to more than half the staking activity on the Qtum blockchain. Investors who don’t want to handle their own nodes can make a non-custodial delegation for their coins.

On March 17, Value Network announced plans to migrate away from Ethereum due to network congestion and high costs. It is now moving to the Qtum smart contract and DApp platform and has received a development grant to accelerate the transition.

On March 31, Qtum founder Patrick Dai said that the protocol was working to enable smart contracts for Filecoin (FIL) through the Qtum network.

The network transitioned from a 128-second block average to a 32-second block average via a hard fork on April 30. The average four weeks that it took for an average-size staker to become valid now has been reduced to a single week.

Ethereum compatibility means increased interoperability

Interoperability is another reason for QTUM’s recent rally. The team is developing Neutron, an agnostic interface that allows virtual machines to run on multiple blockchains. Moreover, its own DEX called QiSwap enables users to build DeFi applications and provide liquidity on top of the Qtum blockchain.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for QTUM on May 5, before the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.

VORTECS™ Score vs. QTUM price (white). Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score began to climb on May 5 and reached a high of 71. It’s worth noting that the VORTECS™ Score peaked roughly 24 hours before the price spiked 100% to a new all-time high at $35.70.

Qtum is aiming to compete with some serious smart contract contenders like Cardano (ADA), Polkadot (DOT), VeChain (VET), and Solana (SOL) and the project has an impressive $2.74 billion market capitalization.

However, for QTUM to increase its valuation, investors will likely want to see more decentralized applications and total value locked (TVL) on the network.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.