Monthly Updates Vol. 9

Hello Qommunity! Here is a brief summary of the main events that took place in the protocol in September. Read and learn about the QODA retrodrop to QODEX holders, Grand Prix, new markets, and other important updates.

QODA Retrodrop

To acknowledge the support of early community members who participated in our Moonriver deployment, we will reward QODEX holders via a QODA token retrodrop after the QODA Token Genesis Event (“TGE,” exact date not yet announced).

The retrodrop will be calculated based on a snapshot of QODEX ownership at Moonriver block 5015245 (Sep 1, 2023 00:00 UTC) at a rate of 1.5 QODA tokens per 1 QODEX token. Qoda-controlled contracts and treasury accounts are not included in the retrodrop. Read who’s eligible and the full terms and conditions in the original post.

Qoda Grand Prix

Qoda Grand Prix is a competition where the most active users of the Qonstant protocol compete for USDC prizes. All you need to do is lend or borrow on Qonstant’s Arbitrum or Moonbeam deployments to earn points. The monthly prize fund of 500 $USDC is awarded to the top 25 users with the highest points. Stay tuned because there may be additional perks for users in the future ;)

All of Qonstant’s users automatically take part in the event. Our Discord bot keeps track of users’ loans to award 100 points for each dollar lent or borrowed using the Qonstant DApp. You can use the bot to track the points you’ve earned each month and if you’ve won a spot in a top-25 leaderboard!

The results for September will be published shortly. Since it was the first month of the competition, we want to make sure everything works as it should on the backend. This does not affect the current month, so join in and participate.

All you need to track your progress is to join our Discord and send a command to the bot in the grand-prix channel.

December markets

You can now redeem your tokens if you lent them in the September markets. If you need help, please check the tutorial on redeeming your tokens.

We’ve launched USDCDEC23 and ETHDEC23 markets on Arbitrum deployment. ETHDEC23 is a new market available for lending and borrowing on Qonstant and is the first non-stablecoin supported by the protocol on Arbitrum One.

On the Moonbeam deployment, we’ll launch the USDC.whDEC23, GLMRDEC23, and DOTDEC23 markets in ~1 week because we need to upgrade smart contracts. We’ll post on X and Discord once the markets have been deployed.

No new markets will be launched on Moonriver.

The Moonriver deployment is now deprecated with the closure of its September 2023 markets. Unfortunately, Qoda’s markets on Moonriver did not receive enough volume to justify their continued operation. Qoda will continue to operate its fixed-rate lending and borrowing markets on Arbitrum One and Moonbeam.

We will keep the Moonriver deployment online as-is until March 31, 2024. Users must redeem their loans and withdraw their collateral before March 31, 2024. After this date, the contracts will continue to exist on the Moonriver blockchain and can be interacted with directly via a block explorer, but the Qoda DApp on Moonriver will no longer be accessible.

Quick updates

• We crossed USD 50,000 in organic traded loans and USD 160,000 deposited collateral across Qonstant deployments.
• We’ve recently updated our website and added Halborn Security’s audit report. The full report can be found here.
• Qonstant just launched the USDCDEC23 market. There is currently an opportunity to lend USDC at ~5% fixed until 2023–12–29 on Arbitrum One.
• Qonstant was listed on the Arbitrum portal.
• Qoda Grand Prix is added to the Arbitrum portal as a part of ecosystem side missions.
• Qonstant now supports rETH, wstETH, and cbETH as collateral.

More and more new materials about crypto loans appear in our blog.

We appreciate your support!