QDAO DeFi Weekly Update #16

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November 25, 2020

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Add: Anton Dzyatkovskii

Can you smell the scent of New Year’s holidays in the air? Not yet? QDAO DeFi brings you your first gifts – we are officially increasing interest rates! Want to hear more? QDAO DeFi users will be participating in the NEM and Spark airdrops. Find out more below!

Cryptocurrencies and DeFi coin market analysis

Hot times in the crypto market! Bitcoin is heading towards $20,000. The last week has been great for the main cryptocurrency, it managed to add $2,000. Now the price is climbing up to $19,000. Altseason began too. It’s the best time to earn on your crypto assets – HODL is the answer.

The DeFi market is feeling good too. Total value locked in DeFi reached an all-time-high of $14.4 billion! DeFi tokens are growing too. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: +21.79%
  • Aave: -3.76%
  • yearn.finance: +22.14%
  • Compound: +0.54%

The growth of the crypto market is highly likely to continue. The fuse of Bitcoin is probably enough to conquer a new peak.

DeFi news 

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

  • Pickle Finance was hacked. The protocol lost $20 million due to a hack attack in which the project’s token lost over 50% of its value in a short space of time. Security remains one of the weak sides of DeFi protocols. We receive news about hacks almost every week.
  • There’s a new DeFi protocol from Andre Cronje. It’s called Deriswap and it’s something new and different in the DeFi market. Deriswap combines swaps, options and loans into one platform. The project doesn’t have a native token yet.
  • Regulation is coming to DeFi. Siân Jones said that the collision between new, decentralized models of finance and older models of regulation has implications that both regulators and the community are not yet really tackling head-on.

QDAO DeFi updates

This week was awesome for QDAO DeFi. We made many crucial changes that will affect the whole community in a good way. Here are our biggest updates.

QDAO DeFi raises interest rates

We are raising the interest rates from November 24th 2020 to February 21st 2021. Now you can earn even bigger amounts by simply keeping assets in the QDAO DeFi program. Check out the official announcement for more details.

NEM Airdrop

QDAO DeFi users will participate in NEM’s airdrop and receive XYM tokens. The bonus will be assigned in a 1:1 ratio to all XEM holders that have at least 100 coins on their Noah Wallet balance, by clicking on the ‘Claim my coins’ button.

Spark token airdrop

QDAO DeFi users with XRP on their balance will get Ripple’s Spark token air-dropped in December 2020. This is the native token of Flare, the new Turing-complete FBA network by Ripple Labs.

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 active users — 9087

Total amount of users’ funds: 

2824339.084 XRP

967.9061426 ETH

178.8231972 BTC

12573458.04 ADA

…and more.

Current users’ interest balance: 

70733.6113246 XRP

23.3195715355 ETH

3.7195821191 BTC

260833.296226 ADA

…and more.

Number of withdrawals made: 7874

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.