We are excited to announce the third network to support Qonstant’s loan markets. It is… drum roll… Arbitrum One! This is an important step forward for our Qommunity as we realize our multichain vision.
We are currently testing our protocol on the Arbitrum Goerli testnet, and are working with a third party to audit our smart contracts. Once this process is complete, we will deploy to Arbitrum mainnet.
Why Arbitrum?
Qonstant currently operates in the Moonriver (Kusama) and Moonbeam (Polkadot) networks. Arbitrum will become the 3rd network in the portfolio. Why are we choosing to deploy on Arbitrum?
Arbitrum is a mature L2 with fast and cheap transactions and is embraced by a great community. Its large, DeFi-centric ecosystem and user base can benefit from Qonstant’s novel approach to on-chain loan markets.
Learn more on Arbitrum’s website and Defillama.
How do I use Qonstant on testnet?
If you’re interested in Qonstant and want to be among the first to use the protocol on a new network, then it’s worth using the Qonstant DApp on the Arbitrum Goerli testnet. It’s easy to get started.
First, head to the DApp (now deprecated) and connect your wallet with either MetaMask or Talisman.
Next, you’ll need test ETH tokens to deposit collateral, lend and borrow funds. You can get them from a faucet, or use a bridge and send them from the Ethereum Goerli test network to Arbitrum Goerli here (please note Goerli network must be selected in the wallet).
Qonstant’s loan markets have the same UX across networks, so it should be a familiar experience if you’ve used the Qonstant DApp before. For those that are new, or if you’d like a refresher, a detailed guide on how to use the DApp can be found here.
Have fun! UPD: Qonstant is live on mainnet, check it out:
Lend or borrow on Qonstant with fixed rates!
Meet innovative crypto lending platform where your interest is predictable.
FAQ
Is the testnet incentivized?
No.
Are there any other activities where I can get rewards or future tokens?
Yes, such activities are held regularly. Follow us on Twitter and Discord to learn about them.
Will the future QODA token be in the Arbitrum network?
No announcements have been made about the QODA token yet. We are developing the concept of the DAO and the token, and the details will be announced later.
When will Qonstant be launched on the main Arbitrum One network?
It depends on some integrations and an independent audit of our code. We are targeting late August 2023.
If I have any questions or feedback about the testnet, where can I contact you?
Please feel free to join our Discord. This is the most convenient place for any discussions. There you will find channels for questions and feedback. Thank you.
I have a business proposal, how can I contact you?
We are interested in building partnerships that will be beneficial from both a product and community perspective, so if you have a proposal for supporting specific tokens as collateral or for trading, marketing collaborations, technical cooperation, or anything else, please contact us via email hi@qoda.fi.
For reference
Qoda Finance
The Qoda Ecosystem consists of partner applications working towards a shared vision of making great financial services accessible to everyone. These applications can operate on any blockchain network. Currently, Qoda operates the Qonstant protocol with the following features:
- On-Chain Orderbook
- Isolated Collateral-Tier vs Market-Tier Assets
- Fixed Interest Rate, Fixed Maturity Loans With Automatic Position Netting and Early Exit.
These features give users more control and flexibility over their crypto portfolio. Qoda’s users have the freedom to lend and borrow across a wide variety of assets fully on-chain.
Here’s Qoda’s presentation on Moonbeam Illuminate.
Visit our website for more details: https://qoda.fi/
Arbitrum One
Arbitrum One is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs. An Optimistic Rollup, Arbitrum One provides ultra-fast, low-cost transactions with security derived from Ethereum. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 65%+ TVL in the L2 segment. 400+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to the Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.