Qubit Important Update Notice

TL:DR

  • Bonus Rewards Announcement
  • Key Expansion & New Feature
  • QBT Collateral Ratio Change
  • Theori Security Audit Completed (No Critical Issues)

Dear Qubit Fam,

We hope you have enjoyed our past AMA sessions with Binance Smart Chain and Alpaca Finance. A recap/transcript of all the AMAs will be posted here for your reference.

In this article, Team Qubit would like to inform you of some updates coming next month October with some small important notices:

Bonus Rewards

Mark your calendars: All participants of the Qubit protocol will receive 50% bonus rewards for 3 weeks, starting October 5 UTC+0 0500.

This means that liquidity providers (suppliers) and borrowers will get 50% more QBT.

Start supplying more liquidity and post more collaterals to earn more QBT during this time.

As a kind reminder, locking up your QBT to the QBT Locker will again boost your interest rates so please do take advantage of this bonus period.

This temporary boost will end on October 26. After this period, rewards will be reduced back to current levels on BSC since we are planning to expand to other networks, so mark your calendars with the above dates and times and start strategizing and planning for new investment opportunities with your friends during this market downturn.

Network Expansion & New Feature

Our key expansion efforts to another network will start next month as well. For those of you attentive of the past AMAs will notice the different networks we have set eyes on: reaping the benefits back to the Binance Smart Chain.

In conjunction with this expansion effort, we will offer an interesting new feature for the BSC community: Crosschain Lending. This feature greatly eases the cross-chain user experiences where users can elaborate new strategies efficiently including cross-chain farming while you can safely stake your assets in BSC. Keep your eyes on for new developments. Detailed information with our roadmap will come out next month so stay tuned for updates.

Important Notice: QBT Collateral Ratio Change

The QBT collateral ratio will change to 25% on next week, October 12th. Please note, this only applies to QBT, our governance token; which means that you can start collateralizing QBT.

Security Notice:

Theori audit is complete.
The team of security experts from Theori has completed a full smart contract audit and reported no critical issues. For any outstanding issues, all contracts are updated today (September 30). The link to the audit can be found here.

About Qubit
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.

Qubit Official Channels
Twitter: https://twitter.com/QubitFin
Telegram: https://t.me/QubitFinOfficial
Discord: https://discord.gg/JGJBWRxX2Y

About Theori
As an elite group of hackers, Theori is a cybersecurity R&D firm that provides security consulting to various government agencies and corporate clients around the world.

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One of the most popular auto-compounding yield aggregators on the Binance Smart Chain. https://pancakebunny.finance/

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