QDAO DeFi Weekly Update #25

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February 17, 2021

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Add: Anton Dzyatkovskii

QDAO DeFi is sailing with the wind! It’s been an incredible 2 weeks for the entire project and we achieved significant results: added new coins, prepared new services for release and we are launching a system of rewards for QDAO coin holders. Want to know more? Read this update!

Cryptocurrencies and DeFi coin market analysis

The crypto market has been painted in Tesla colors for the last two weeks. Elon Musk is playing with billions again, first, he posted the Bitcoin hashtag on his Twitter page. The BTC price skyrocketed by $5,000. A week later, Tesla invested $1.5 billion in Bitcoin. The price of the main cryptocurrency set a new record – $49,500. The entire market is actively growing!

The DeFi market is no exception. Most DeFi tokens are growing and the total value locked conquered the $40 billion mark. Here are the changes in price for some of the popular DeFi coins:

  • ChainLink: +28.03%
  • Aave: -12.18%
  • yearn.finance: +31.70%
  • Compound: -5.91%

Despite the sharp increase in capitalization, the crypto market is heading towards a correction. Tesla may have fueled the bull run but the gunpowder is running out. Be careful!

DeFi news 

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

  • A $37 million smart contract exploit. An attacker successfully drained over $37 million from Alpha Homora by leveraging Cream’s Iron Bank protocol-to-protocol lending platform. Another project by Andre Cronje has been spoiled.
  • Grayscale and Yearn Finance. Grayscale Investments has registered a LLC for a prospective Yearn Finance (YFI) Trust, giving the first sign that the asset manager is considering a DeFi coin. The YFI price grew to $48,000 following this news.
  • DeFi’s TVL. The total value locked in decentralized finance — the measure of the total value of assets committed to the DeFi ecosystem — has marked a new all-time high above $40 billion. This indicates that interest in DeFi is growing.

QDAO DeFi updates

It has been a productive couple of weeks for QDAO DeFi. We have a lot of things to share with you. Here are the most interesting ones!

QDAO, BNX and ADA join QDAO DeFi

The platform keeps evolving and we are proud to present the addition of 3 new coins: ADA, BNX and QDAO! They were previously only available to BTCNEXT Exchange users but now, you can start making a great passive income on them, directly with Noah Custody Wallet!

New services of QDAO DeFi

It’s not a secret that the success of a token depends on the efforts of the team behind it. QDAO DeFi has ambitious plans of expanding the scope of its services, which won’t be leaving the QDAO price unchanged.

QDAO coin rewards

We promised bonuses for QDAO holders – and we are giving them! From now on, you can boost QDAO DeFi’s interest rates by simply storing QDAO coin in your account. This bonus can increase your interest rate by up to 25%. Keep in mind, the bonus % is NOT simply added to your APY – it is the factor by which your interest rate is increased.

QDAO coin buy-off is over

This program is now over. QDAO coin fell in price during 2020 but we maintain our support for our users. All QDAO coin holders were given the chance to sell their tokens for $1 each. The campaign started on 14 January and lasted until 14 February.

Increased QDAO DeFi rates

On 21 November 2020, we increased the rates on QDAO DeFi. The bonus offer ends on February 21, 2021. We hope you were able to enjoy the increased rates in full! Anyway, you still have a few days to get the additional profit from your deposit. 

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: 10627

Total amount of users’ funds: 

3205617.2245 XRP

1092.8556334 ETH

174.0643329 BTC

17685680.521 ADA

…and more.

Current users’ interest balance: 

64438.8423922 XRP

27.2922179271 ETH

3.316637685578 BTC

297958.498734 ADA

…and more.

Number of withdrawals made: 10378

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.