QiDao Joins Hercules Genesis Pool Launch
It’s not uncommon for most people to see bear markets as a state of stagnation, fear, uncertainty, and doubt. If crypto has taught us anything, however, it’s that some of the most bullish narratives and developmental leaps take place during these bearish market periods. This notion was especially true when the birth of modern DeFi began to materialize with the onset of DeFi summer in 2020 and the bull market that followed shortly after. What was the grand lesson from this timeframe? It’s that hammering innovation, development, and grit into a project’s foundation is key to survival. With these lessons in mind, Hercules has worked tirelessly to build the most advanced liquidity infrastructure project on the Metis blockchain. One integral way to accomplish this is to collaborate with some of the ecosystem’s most prominent players.
Today, we are proud to have QiDao joining Hercules’ Genesis Pools launch and becoming a member of the Olympic Circle!
What is QiDao?
Qi DAO is a decentralized crosschain stablecoin protocol that utilizes a unique over-collateralized debt position model to mint stablecoins (MAI). With QiDao, users are able to mint these stablecoins by depositing certain tokens as collateral into corresponding vaults to mint QiDao’s MAI stablecoin. What’s more exciting? Users who deposit collateral and mint MAI stablecoins also earn rewards from the QiDao protocol for doing so. It’s also important to note that QiDao is an interest-free, borrowing protocol that allows users to borrow stablecoins against their collateral at 0% interest. All that’s owed for borrowing MAI is a repayment fee at the end of the loan. Overall, this fresh take on loans and stablecoins offers users a hassle-free and flexible DeFi experience!
The Custom-Built Liquidity Infrastructure of Metis
Hercules is a capital-efficient and highly flexible DEX and liquidity platform that offers a wide range of advanced tools and features that can be customized to meet the unique needs of Metis builders while offering real yield opportunities for users. Some of the innovative features used to help boost projects on the Hercules platform include:
- Nitro Pools allow projects to incentivize additional liquidity for pairs in a completely permissionless and customizable way. Each Nitro pool can be custom-tailored towards a project’s needs, as they can set their own LP /reward parameters and even target specific users/LPs they want to reward to further boost liquidity and user participation.
- spNFTs allow LP rewards to be reused for additional user/liquidity participation for increased yields.
- Escrowed Tokenomics for a sustainable long-term protocol that enables real yield for holders.
- xTORCH plugins are contracts that enable access to Dividends for real yield, Yield Boosters to increase APR, Launchpad, Gauge, and more.
With this advanced liquidity infrastructure, protocols like QiDao can enjoy deep and adaptable liquidity that’s fully customizable to ensure long-term stability for the project, better trades, and attractive yield rewards for users!
How Does the Genesis Pool Benefit QiDao?
The genesis pool is a temporary nitro pool that helps bootstrap early liquidity at launch in order to scaffold deep liquidity for the longevity of the project and ecosystem. Genesis pools exist for a limited time only and offer boosted yields to early liquidity providers who stake their spNFTs in the QiDao dedicated pool.
In addition to joining the Genesis Pools launch leveraging Hercules’ advanced liquidity infrastructure, we are proud to have QiDao’s inclusion into the Olympic Circle! With their Protocol Owned-Liquidity on Hercules, QiDao will also be able to secure an ownership stake in the protocol in the form of Hercules’ xTORCH. These tokens can be allocated to the Dividend plugin for real yield, incentivization of a nitro pool, boost APRs, or build a new source of yield for their treasury.
While the crypto space continues to navigate itself across the current market environment, Hercules remains steadfast in its mission to develop the most advanced liquidity infrastructure available on Metis.
About QiDao
QiDao is an overcollateralized stablecoin protocol that allows users to mint stablecoins (MAI) against the value of their decentralized token collaterals.
Website | Twitter | Telegram | Discord
About Hercules
Hercules is a community-first, capital-efficient, and flexible DEX developed with multiple tools to support the next generation of builders who look for sustainable liquidity in the Metis network.
