The Moonbeam ecosystem is the birthplace of Qoda. This is where we took our first steps, learned as a team, and built our product. However, we’ll soon sunset our deployment on Moonbeam. Here’s why.
Qoda and Moonbeam
We have worked towards realizing our vision for Qoda on the Moonbeam network since the early days of its development. We continue to be avid supporters of the idea of Moonbeam as the network that connects Ethereum and Polkadot. The stack and the team behind this idea are excellent, as has been demonstrated by the quality of their work. In fact, the support of the Moonbeam Foundation is the main reason why we started developing Qoda on Moonbeam.
Nonetheless, as a business that has its own tasks and responsibilities to our community, we must advocate for the growth of our products. Unfortunately, Qoda’s loan markets on Moonbeam did not receive enough volume over the past year to justify their continued operation.
Qoda will continue to operate its fixed-rate lending and borrowing markets on Arbitrum One. More announcements about new networks will be announced at a later date.
Moonbeam deployment deprecation
We will sunset the deployment on Moonbeam on April 30, 2024, so users must withdraw collateral and redeem their lend positions before then.
The USDC.wh, GLMR, and xcDOT markets will remain open until they mature at the end of December. There will be no new markets launched on Moonbeam.
What’s next?
We remain open to working with Moonbeam again in the future. Our Qoda Loans infrastructure continues to be actively developed, as we focus on the iteration of our products, their delivery, and growth on other networks.
Once again, the Moonbeam ecosystem is where Qoda was born. We are grateful for the support we have received over the past 2 years from the Moonbeam core team; especially all of the advice, encouragement and community events (including the pizza party)! :)
Qonstant continues to operate on Arbitrum One.
Read also about QODA retrotdrop to QODEX token holders and the deprecation of Moonriver deployment in this article.