Qtum Goes DeFi With QiSwap Mainnet Launch

By November 19, 2020DApps
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Qtum, the blockchain DApp platform, is set to become the new kid on the decentralized finance (DeFi) block with the launch of the QiSwap mainnet.

As the first automatic market-making (AMM) protocol on Qtum, QiSwap brings Uniswap-like features to Qtum, allowing users to easily exchange QTUM and QRC20 tokens and provide liquidity — while benefiting from incredibly fast transactions and minimal transaction fees.

After completing several successful testnet phases, QiSwap migrated to the Qtum mainnet on November 13.

QiSwap initially supports QTUM-QC as the sole trading pool. But over the coming weeks, the team plans to expand the range of available trading pairs — with QTUM-QBTC, QTUM-QETH, and QTUM-QFIL set to be the first added to the platform.

In time, QiSwap will allow users to create their QRC20 token pools and set their initial liquidity. Other users will be able to either source liquidity from or join as liquidity providers. Liquidity providers will receive a return from any exchanges conducted on pools they provide liquidity for, creating a passive income opportunity for Qtum and QRC20 token holders.

The platform is powered by the QiSwap (Qi) token, which will have a fair launch without a token sale, and be airdropped to participants of the QiSwap testnet phases. As the native governance of the platform, Qi token holders will be able to cast their votes on important governance proposals, helping to shape the development of the QiSwap platform.

QiSwap now provides a backbone for other platforms looking to build DeFi decentralized applications (DApps) on Qtum, since they can now easily source liquidity for their tokens and integrate QiSwap directly into their apps.

Recent Qtum Updates

This is the latest in a series of essential updates for Qtum, the most recent of which is its offline staking upgrade — launched back in August.

Offline staking now allows Qtum holders to easily delegate their tokens to an online node from their hardware wallet and run their own super staker node to earn rewards and help secure the Qtum network without any custodial risks — helping to boost network participation considerably.

Qtum also recently added Google Cloud as a software partner, allowing users to easily deploy a full node using a virtual machine hosted on Google’s cloud platform—this is part of its push to participate in the Qtum blockchain economy more accessible. This solution is currently being leveraged by QiSwap, which also hosts its front end on Google Cloud.

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As the first automatic market-making […]

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