Qubit Finance Quarterly Roadmap
- First Network Expansion — OCT 26
- More QBT Utilities & Benefits — QBT Collateral, fee sharing mech & DAO, QBT Pots
- Development of New Unique Features — Crosschain lending, dev APIs
- Long-term Commitments & Goals — add more tokens, deflationary mech, etc.
Even after being nominated BSC MVB III Monthly Star of August, we at Team Qubit have continued to tirelessly design and BUIDL unique features to benefit not only the Binance Smart Chain and PancakeBunny community, but also the entire DeFi ecosystem.
In our AMAs (summaries found here and here) conducted over the past few weeks, we briefly showcased our vision and goals for the future including a roadmap.
This roadmap is now ready to be unveiled and we look forward to sharing the bright future we will have together with you, our community.
So please find below what we have planned for the rest of the year 2021 Q4 and beyond.
First Network Expansion
Qubit is planning to finalize expansion to another network on October 26th.
Please be reminded that this is the day the bonus rewards period ends as well.
While we are busy collaborating with the blockchain development team, Team Qubit is planning special marketing events in preparation for our first network expansion (e.g. airdrops, seminars, competitions, etc.). Detailed marketing activities and events will be announced before official launch.
What this means for our community is that anyone on the BSC network can keep their funds safe here by posting collateral and borrowing virtual assets from another network.
QBT Utilities & More Benefits to qScorers
QBT Collateral Ratio Change
As mentioned before, QBT as a collateral will be enabled next week Tuesday, October 12th.
While there were critical no issues in deploying this change, Team Qubit wanted to take extra steps and implement additional security measures before changing the collateral ratio for QBT.
The plan to change QBT Collateral Ratio is threefold:
- QBT has not been officially listed yet and with low liquidity, is susceptible to price manipulation. We are trying to promote QBT’s listing in multiple exchanges and hope it will be realized as soon as possible.
Until then, we will enforce a maximum limit for QBT price as a collateralization.
- QBT price as collateralization is upper bound to $0.10. Even if the price goes above this upper limit, QBT can be utilized as collateral with the same price of $0.10. Since the collateral factor of QBT is 0.25, a user can borrow upto “0.25 × min($0.10, QBT price)” amount.
- If the price of QBT is raised and stabilized, the upper limit can be further increased based on further analysis and will be announced in due time.
Protocol Fee Sharing Mechanism & Qubit DAO
Protocol fee sharing mechanism and Qubit Decentralized Autonomous Organization (DAO) is set to be completed by November.
Currently, the Reserves have already collected $362,790.27 since launch.
We plan to distribute this as reward to users who have committed their QBT into the QBT Locker.
70% of total Reserves will be distributed to qScore holders.
In addition, these distributed fees are even collected from different network’s reserves.
Remember: this will be the first step for the protocol fee sharing mechanism. With further development of versatile derivatives based on Qubit, QBT holders will gain benefits continuously.
Bonus: Bunny Pots for QBT
With the QBT Bunny Pots, QBT can be utilized for no-loss jack-pots. Thanks to the Bunny’s 2.5x boost ratio, the rewards obtained by the Pot will be profitable.
Unique Feature Development
- Crosschain lending service is set to be completed by the end of October.
- Development APIs for Lending & Leveraging-as-a-service is set to be complete by November.
Team Qubit is explicitly committed to make Qubit as a common utility for DeFi dApp developers.
We believe that a crucial success factor for any lending platform is higher demands for borrowing. Having said that, we are designing unique APIs that offer everyday users and developers alike obtain the same benefits.
Long-term Commitments & Goals
- Add more tokens for Qubit market (planned for Q4)
- Allocation of Governance Power to QBT Token holders (planned for Q4)
- Further expansion to other networks (2021 Q4 and 2022 Q1)
- Development & implementation of various derivatives products on Qubit by utilizing and promoting Qubit’s Lending-as-a-Utility APIs (2022 Q1)
- Implementation of deflationary mechanisms (2022 Q1~2022 Q2)
(this includes buyback-and-burn using collected protocol fees)
This wraps up our roadmap for 2021.
As we set out our vision for establishing solid foundations for a secure commodity tool for BSC, we are further committed to securitizing and reaping the benefits back to the Binance Smart Chain and PancakeBunny communities.
Team Qubit will keep on BUIDLing and move forward!
Lend to Ascend — Borrow for Tomorrow
Qubit is Mound’s innovative DeFi protocol for a secure money markets platform, optimized to deliver Lending-as-a-Utility service for the Binance Smart Chain.