A detailed guide to the QDAO Reward System
February 16, 2021
Add: Veronica Zubrii
While we were focused on the QDAO DeFi platform’s evolution, we’ve also been thinking about how to extend the functionality of our most important product – the QDAO token. Good news… we’re introducing a lineup of brand new products involving our token. From now on, QDAO token ownership will grant you higher APYs on our Deposit products!
Meet QDAO Token and Our Deposit Products
On 12 February, we introduced the QDAO token and new Deposit products to our platform. From now on, you can earn an extra % on interest rates for all deposited cryptocurrencies simply by storing QDAO coins in your account. Here’s how you can boost your earnings.
While users are earning interest rates in the form of deposited assets, they will be able to raise their APY by owning QDAO tokens. How does it work? The larger your deposit in QDAO is, the higher your deposit rate is.
- If your QDAO savings comprise less than 5% of your total assets, you get a 0% reward on top of the interest rate.
- The Bronze reward goes to users whose QDAO tokens make up 5%-10% of their total assets – they get a 5% bonus increase on their interest rate.
- The Silver reward goes to users whose QDAO tokens make up 10%-15% of their total assets – they get a 10% increase included in their interest rate.
- The Gold reward goes to users whose QDAO tokens make up 15%-20% of their total assets – they get a 15% bonus increase on their interest rate.
- The Platinum reward goes to users whose QDAO tokens make up over 20% of their total assets – they get a whopping bonus 25% increase on their interest rate!
The bonus % is NOT added to the APY – it simply increases the interest rate by a bonus percentage. See the example below.
Use Cases & Examples
Here are a few examples of deposits and their bonuses to make things clear.
First and foremost, you should note that QDAO rewards are paid on a monthly basis, on the first business day of the month. For example, if you deposit BTC on 15 February at 12.03% APY and then deposit QDAO tokens on 20 February that comprise 5-10% of your total assets (when we calculate the rate), your interest rate will be increased by 5%. ([12,03%*5%] + 12,03% = 12,63%) which will be paid on Monday 1 March (first business day of the month). The 5% bonus is applied from 20 February – the day the QDAO token was deposited.
What if you withdraw QDAO? Say you deposited 100 QDAO coins on 20 February and withdrew 50 QDAO coins on 25 February. In this case, the bonus will apply from 20 February BUT only the 50 QDAO tokens that you have left on the first business day of the month will be factored into the calculations.
What if you add QDAO? If you deposit 100 QDAO on 20 February and then deposit 100 more coins on 25 February, the reward will be calculated to reflect the increase. This means that you’ll get one bonus for the period of 20-25 February for the 100 QDAO plus a higher bonus based on 200 QDAO for the period of 25-28 February.
Rules & Conditions
The percentage of deposited QDAO coins is calculated at the moment of the reward distribution and depends on its ratio in relation to the user’s entire portfolio. For example, if you own QDAO worth $100 and your total portfolio worth is $1,000, that means QDAO comprises 10% of your portfolio. Thus, you get a Bronze reward with your interest rate on the first business day of the month, which is a 5% boost. For a 6-month BTC deposit, it’s (12,03%*5%) + 12,03% = 12,63%.
Please note that the bonus applies to Deposit products made on the QDAO DeFi platform only. QDAO coins must be stored on QDAO DeFi. Products on the exchange are NOT taken into account. The deposit bonus applies only while you use QDAO Deposit products and keep the coins.
In order to get the bonus, you need to claim it by contacting our customer support account @John_Forbes (t.me/John_Forbes) during the last 5 days of the month!
The bonus is given for deposited QDAO tokens only – it applies to the deposit without interest capitalization (the one where QDAO bonus tokens are stored).
The upcoming changes to the QDAO DeFi Deposit products and the QDAO token will make cryptocurrency storage even more profitable. We’ve already introduced QDAO into our infrastructure, so feel free to explore our coins and APYs, make deposits and enjoy flawless asset management via a single interface.
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.