Qubit Expansion to Klaytn Network
Qubit is officially ready to launch on a new network: Klaytn
There were a lot of questions on which network Qubit will expand to first from the community and many have anticipated this official announcement. Therefore, this article will address some questions the community might have and introduce our new DeFi partner.
- Klaytn Introduction — South Korea’s Blockchain
- Initial Supported Markets for Qubit on Klaytn: KLAY, KUSDT, KDAI, KETH, KWBTC, KSP, WEMIX, KQBT
- QBT Governance Token stays the same, new QBT Locker
- Upcoming Features: Cross-chain Lending
- Conclusion: New Chapter in DeFi
Klaytn is a blockchain platform built for ordinary users, service providers and enterprises alike with a focus on high-performance, usability and transparency.
As a decentralized network, Klaytn boasts enterprise-grade network stability and performance while maintaining an open platform where anybody interested in DeFi can participate.
With this new partnership and network expansion, Team Qubit has the following updates:
Initial Supported Markets for Qubit on Klaytn
Qubit on Klaytn will initially support only supplying for the following new markets:
- KLAY (Klaytn’s governance token)
- KSP (KLAYswap)
What does this mean for QBT Governance Token?
As you might have noticed with the brand new markets above, a new network expansion brings a new prefix to our native governance token: KQBT
Please be reminded that this is not a new token.
KQBT exists on the Klaytn network and remains the same as it would on BSC as QBT.
Having said that, the QBT Locker on Klaytn network’s Qubit functions separately.
What’s Next? — Upcoming Features: Cross-chain lending
These are only the first few steps in network expansion and Team Qubit will continue to build new features such as Cross-chain Lending, eventually allowing users to freely supply and borrow on different networks and chains.
This will unlock new opportunities for investors looking to test new networks and create new investment strategies where you can safely supply and post collaterals on different markets on different chains.
Conclusion: New Chapter in DeFi
Team Qubit is dedicated to building whole new systems and innovative features for the DeFi community and provide the best experience for new users and enthusiasts alike.
With this first major network expansion, we hope our close cooperation with Klaytn will bring more value to the entire DeFi ecosystem.
Last but not least, with all of our development processes, safety is priority number one and Team Qubit will receive updated audits to major aspects of the Qubit protocol.
Stay tuned for more updates and stay safe everyone.
Qubit is Mound’s innovative DeFi protocol for a secure money markets platform, optimized to deliver Lending-as-a-Utility service.
Klaytn is an open source public blockchain designed from the ground up to provide the scalability and performance required to service millions of users.