QDAO DeFi Weekly Update #21
December 30, 2020
Add: Anton Dzyatkovskii
Hello our dearest QDAO DeFi users! We want to wish you a happy and prosperous coming new year! 2020 was full of surprises but we made it out alive and much stronger than before! The QDAO DeFi team wishes you all the best for 2021: wealth, prosperity and good health! This time we have prepared some pleasant updates, so don’t waste a moment – check them out!
Cryptocurrencies and DeFi coin market analysis
The crypto market looks unstable. While Bitcoin is breaking every imaginable record, altcoins are suffering a price drop. BTC managed to touch $28,000, which sounds incredible given the fact that everyone expected the correction. Ethereum and coins from the CMC top 10 are growing too (except for XRP) but other alts lost, on average, 10% of their value.
The DeFi market is not in a good shape. TVL dropped below the $14 billion mark and most tokens dipped. Here are the changes in price for some of the popular DeFi coins:
- ChainLink: -2.97%
- Aave: +2.31%
- yearn.finance: -7.05%
- Compound: -5.83%
The end of this week will indicate whether Bitcoin continues its move up. We are closing the year and if we manage to stay above $20,000, the upper trend will likely continue. If not, it’s time for a correction.
There is a lot of news about DeFi. Here are the most important events of the week:
- 1inch finally released their platform token. The 1INCH token will be used for both the platform’s automated market maker protocol and its decentralized exchange aggregator service. 1INCH will serve as an all-in-one utility and governance token.
- Dynamic Set Dollar price fluctuations. The so-called DSD stablecoin must theoretically be pegged to USD in a 1:1 ratio. But the algorithms used by its creators have caused fluctuations. Recently, the price of DSD dropped to $0.27. Now, it’s going up but can DSD be called a ‘stablecoin’?
- Summing up the year. 2020 was ‘the year of DeFi’. The total value locked in decentralized finance grew from $600 million to $15 billion and this is only the beginning. We saw a 1000% increase in the price of DeFi tokens and a lot of rug pulls. But 2021 will be even more promising for DeFi.
QDAO DeFi updates
This is the final week of 2020 and we did a lot of work. QDAO DeFi is constantly evolving to attract more users. Here are the most valuable updates from the last week.
BTC rates increase
QDAO DeFi increased the deposit rates for Bitcoin! As of December 25th and for the next 6 months, every QDAO DeFi user on Noah Custody Wallet can count on a substantial increase in passive income. The new BTC annual rates for Noah Custody Wallet users:
- No term: 11.51% ARP
- 1 month: 11.68% ARP
- 3 months: 11.85% ARP
- 6 months: 12.03% ARP
New QDAO DeFi liquidity pools
On December 17th, the QDAO DeFi team launched a new service that lets users make a profit by adding BTC, ETH or USDT into liquidity pools. We’ve created instructions on how to use this new feature.
We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:
- Staking $5,000 in mStable: Get the Maximum Yield out of Your Stablecoins: https://youtu.be/IoZ-bcWuahw
- Promising Altcoin Projects to Follow and Invest In: https://youtu.be/KZ1PLYIBs8U
- Lending platform on dForce.network, a step by step guide: https://youtu.be/XsAVN4CGmT0
- Reasons behind Yearn Finance mergers and will YFI hit $1,000,000?: https://youtu.be/2QrY6xSc4jk
The latest stats from QDAO DeFi PULSE:
Number of active users — 9637
Total amount of users’ funds:
Current users’ interest balance:
Number of withdrawals made: 8847
QDAO DeFi’s results in 2020
2020 is almost over and on behalf of the whole QDAO DeFi team, wish you a Happy & Prosperous New Year! Throughout 2020, QDAO DeFi became stronger and all thanks to you!
QDAO DeFi’s memorable moments:
- We began the year with 1150 users and grew to 9553 – a massive increase!
- At the very beginning, we held 40.62 BTC, 5833.93 XRP and 160 ETH Now our users have entrusted us with 187.22 BTC, 3575528.25 XRP, 954.71 ETH and dozens of other coins – thank you!
- QDAO DeFi users withdrew almost 10 BTC, 70 ETH and 123,000 XRP in passive profit – some amazing figures for such a young project.
- The program currently holds over $11 million in different cryptocurrencies and this number grows steadily!
Our video production team has worked hard to provide you with an indispensable source of DeFi knowledge. And we have results that we can be proud of:
- We uploaded 228 videos with different speakers and topics!
- Our guides gathered over 37,548 views!
- You’ve rated our efforts with 2,188 likes and left 558 comments!
It was an eventful year! We raised interest rates a few times, always tried to add new coins, participated in the NEM and Spark airdrops and even launched a QDAO DeFi branch on the Platinum Forum. One of the greatest events was a partnership with SpaceSwap and listing of the QDAO token on Uniswap. Just recently, we launched liquidity mining!
We will keep up the pace and promise to deliver great updates in 2021. Stay tuned and keep trusting QDAO DeFi – we won’t let you down! Happy New Year!