Here at Steadily, the team behind the Qoda Ecosystem, we believe that DeFi can be simple. Qoda’s mission is to decentralize traditional financial services, and make them accessible to everyone. The recent step towards it is the launch of Qoda DAO.
The objective of the Qoda Decentralized Autonomous Organization is to govern the Qoda Ecosystem. Qoda DAO Membership is automatically granted to $veQODA token holders, which can be acquired by staking QODA tokens. Members are able to vote on proposals that influence the Qoda DAO, Qoda Ecosystem and Qoda Ecosystem Apps.
Qoda Ecosystem
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.
Current Qoda Ecosystem Apps include:
- Threebalance: A portfolio management tool that facilitates rebalancing crypto portfolios in three steps using on-chain liquidity sources. Owned and operated by Steadily Consulting Inc.
- Qonstant: An orderbook-style, fixed-rate lending and borrowing exchange on Arbitrum One. Owned and operated by Steadily Consulting Inc.
Qoda Ecosystem Partners may purchase QODA tokens to either:
- Permanently burn the purchased QODA tokens; or
- Distribute the purchased QODA tokens as rewards directly to Qoda DAO Members.
The amount of $QODA tokens purchased, burned and distributed as rewards depends on the agreements executed with each partner.
Strategy & Vision
Traditional financial markets function thanks to the coordination of large institutions, governments and complex protocols across the world. These markets have unlocked capital in society over the past 100 years. Accessibility of capital and well-functioning markets are essential to the continued prosperity of humanity.
However, while it has succeeded in some aspects, the existing system of centralized, financial infrastructure is fraught with problems. One of these problems is how the best financial services are reserved for the wealthy. The majority of people, across economies of all sizes, do not have access to the best transactional banking services, cheap capital, or unique investment opportunities.
Decentralized financial infrastructure, on the other hand, offers a brighter outlook than its traditional counterpart: the finance industry must be open to everyone. Thanks to the trustless nature of blockchain technology and the prominence of digital assets, our global financial system can be re-imagined with financial accessibility in mind.
The core belief of the Qoda Ecosystem is that the future of finance is decentralized. This industry-wide transition will unlock new levels of capital efficiency that humanity has never achieved before. Its mission is to realize this vision by bringing the best financial services from TradFi to DeFi, while making them accessible to everyone.
The ecosystem's current focus areas include on-chain asset management and credit markets. The ecosystem's scope may broaden further over time as new Partner Apps are onboarded.
$QODA Token
The QODA token is the entrypoint to the Qoda DAO. It has a fixed, total supply of one billion tokens, and conforms to the ERC-20 standard. QODA tokens cannot be minted beyond the total supply, however they can be burned as a deflationary measure.
Both QODA and veQODA, and their associated smart contracts, are native to Arbitrum One.
Learn more about the QODA token in our Docs: https://docs.dao.qoda.fi/qoda-token.
Staking
Staking the QODA token is the only way to earn veQODA tokens. veQODA automatically grants its holders Qoda DAO Membership, giving them the ability to vote on governance proposals that influence the future of the Qoda DAO.
The QODA staking mechanism's objective is to incentivize long-term, on-chain liquidity provision and ownership of the QODA token. Consequently, QODA tokens can be staked in one of two ways:
- Vanilla Method: This involves depositing $QODA tokens into the $veQODA smart contract.
- Liquidity Provision (“LP”) Method: This involves adding liquidity to the Official Uniswap V2 QODA/USDC or Pool, and depositing the resulting LP tokens into the $veQODA smart contract.
Support for staking other ERC-20 tokens may be offered in the future.
Stakers earn veQODA tokens based on the amount of $QODA tokens they have staked, their staking method, and the duration of their stake.
Qoda DAO App
Do you want to learn more about the Qoda DAO and the Ecosystem we build?
Check out the app: https://dao.qoda.fi.
P.S. The only official way to get QODA tokens is to buy them on Uniswap on Arbitrum One network. No other listings are available at the moment.
