QDAO DeFi Weekly Update #24


February 3, 2021


Add: Anton Dzyatkovskii

We are heading towards some great updates and already have some in our pocket! The last two weeks were full of incredible news: the BitGo partnership, QDAO’s listing on Coinsbit and much more! Learn all below.

Cryptocurrencies and DeFi coin market analysis

The altcoins season has begun! While Bitcoin is moving sideways and isn’t finding the power to continue the rally, many cryptocurrencies are gaining in value with double the power. DOGE (+354.29%) and XRP (+130.75%) are the biggest stars of recent days.

The DeFi market shows impressive results. Most tokens are growing in price, as is the TVL. Here are the changes in price for some of the popular DeFi coins:

  • ChainLink: -9.67%
  • Aave: +13.23%
  • yearn.finance: -5.59%
  • Compound: +46.25%

The bears are trying to push BTC lower from time to time but the bulls are protecting the sacred $30,000 mark. This works out well for altcoins – and it’s time to make some good profits!

DeFi news 

There is a lot of news from the DeFi space. Here are the most important events of the week:

  • Crypto crimes and DeFi. Losses from cryptocurrency theft, hacks and fraud fell 57% in 2020 to $1.9 billion, mainly due to improved security systems. Half of all 2020 crypto hacks targeted DeFi protocols, most of which are ‘exit scams’.
  • The Robinhood scandal is good for DeFi. The trading app Robinhood suspended trading in GME and other stocks, which caused massive resentment from users. Experts recognise this event as an advertisement for DeFi.
  • Banks going DeFi? Circle, the company behind the second most popular stablecoin ‘USD Coin’ has rolled out a new API that will allow for the seamless transfer of USDC to USD, via automated clearinghouse (ACH) systems.

QDAO DeFi updates

We’ve come up with truly great updates! The QDAO DeFi team has done some impressive work and here are the results.

Partnership between BitGo and QDAO DeFi

QDAO is collaborating with BitGo, the leading digital asset financial services company, to provide BitGo Custody and Multi-Signature wallet technology for its users. Assets held with BitGo Trust Company are backed by BitGo’s insurance program. The policy covers digital assets where private keys are held 100% by BitGo Trust Company, protecting users against third-party hacks, outsider or insider theft and loss of keys.

New Interface

We are constantly improving QDAO DeFi’s design. Our team has been developing a separate cabinet interface for a long time. We made the decision to separate it from Noah Wallet by creating a new platform, solely for DeFi products. Please fill in the form to share your opinion with us on which variant of design would be the most comfortable for you and why.

Invite a Friend

From 25th to 27th January 2021, QDAO DeFi rewarded any user who invited friends to the platform with a $25 referral bonus. We are glad to see how active you were and want to thank every user for their contribution to QDAO DeFi’s development!

QDAO coin buy-off

The program continues as we keep supporting QDAO coin. It fell in price during 2020 but we will support our holders. For this purpose, you can contact our bot and exchange your QDAO coins for $1 each. The campaign started on 14th January and is only active for one month, so if you are looking for a chance to sell your QDAO savings, this is it! Read this article for more info.

QDAO on Coinsbit

On January 26th, our very own QDAO was listed on the Coinsbit exchange, namely the QDAO-ETH pair. It’s a great moment for all the community as the project keeps on developing. More exciting things to come!

New coins in QDAO DeFi

We are planning to add new coins to QDAO DeFi’s deposit products.  We consider popular coins like TRON (TRX), Polkadot (DOT), Dogecoin (DOGE), ChainLink (LINK), Yearn Finance (YFI), Aave (AAVE) and Uniswap (UNI). We’d like to hear which of the indicated cryptocurrencies are of interest to you. Please, fill out this form, you can also pick up your variant of desired coin. The most popular coins based on your answers will be added soon.

New tutorials

We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:

The latest stats from QDAO DeFi PULSE:

Number of users: 10292

Total amount of users’ funds: 

3039916.8396 XRP

904.173903169 ETH

173.78737184 BTC

17600485.587 ADA

…and more.

Current users’ interest balance: 

63211.7791286 XRP

25.391271655 ETH

3.65114424685 BTC

375304.235786 ADA

…and more.

Number of withdrawals made: 9908

Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram, LINE and LINE 2 for the Japanese-speaking community.

QDEFIRATING.com is developed by Platinum Software Development Company – one of the most trusted and experienced engineering blockchain teams in APAC for DeFi developments.

If you want to create any DeFi dApp on any blockchain technology, such as Polkadot, Ethereum, Ton or Binance Smart Chain, we would be happy to give you a FREE 1-hour consultation and to share our experience with you.