The 9th Digest on Qnode Protocol & Going forward
Hi Community, we trust that every member of the community is well and hearty. The 9th digest is here with updates from the development team. At the time of this publication, Qnode.Defi (QND) is just 10 days from the official launch. Although, the active 👉 holding community (or wallets) of the protocol is small, yet its has recorded some impressive DEX interactions outside of centralized exchange like Bitsten Exchange. Click here for PriceBot
10 Days launch Statistics Report on PancakeSwap
The Qnode.Defi had being routed to pancakeswap, bakeryswap and julswap. But on a later date we removed the backeryswap liquidity and moved it to Pancakeswap.
Since the launch, the value of Qnode.Defi (QND) has also dropped significantly, but not because of the team. This is related to impulsive trading (i.e dump) activities probably from some airdrop & pre-sale participants for quick bucks (this is very normal and understandable). And as a result, the initiated value of QND has dipped from 30 cent ($0.30) to an average price of 5 cent ($0.05). Also, the past few days has seen over 1,500 USD daily volume, along with the pooled BNB liquidity on pancakeswap (only). We say its just beginning. Below is a screenshot of dextools aggregation. 👉Click here to view
BINANCE SCAN EXPLORER TOKEN DISTRIBUTION
Some Users have asked us some questions about some wallets holding huge supplies, what is the position of the team? From the explorer, the token holder’s button will reveal the holders of Qnode.Defi (QND). During the redeployment of the Qnode.Defi contract, only 1,600,000 QND was minted, this was also because the sales could not cap or sold out. For this reason the remaining token supplies are locked and cannot be minted until algorithmic bridge is deployed and made public. And only community will mint new supplies of QND on the bridge. But currently, the following wallets on bscscan.com holds swap supplies, airdrop supplies and liquidity contract pool supplies. From the image below the top 4 wallets and wallet 7, 12 are in team control from which we service the community as well and indeed several community members are clearing the dip on pancake, julswap and bitsten:
The Airdrop supply balance shall be redirected in active community building and has being vested👉 here for distribution. We could not meet up with the earlier date announced but soon, distribution will be made.
Will there be more QND in circulation Soon?
One of the powerful strategy of Qnode.Defi (QND) is scarcity, governance and limited supply. What do we mean? The team could not reach a soft-cap in the sales. Yet, we are persuaded to continue the development of Qnode.Defi until it reaches its full potential and until we can say its on Binance exchange and some other top exchanges. Therefore, there will always be consensus governance voting for certain community decisions before implementation of a mint from the dev.
There will be more QND in circulation soon, But that can only happen when a user implement a blockchain transaction from the main chain (Qnode Blockchain) to the side-chain (Qnode.Defi). The Qnode Protocol is a dual chain development, comprising of the native blockchain and the token smart contract on Binance smart chain. All this can be possible via the algorithmic bridge.
The algorithmic governance bridge will give everyone and anyone the chance to mint Qnode.Defi (QND).
But How Does That Works?
Qnode.Defi ($QND) is built to be an investment tool and a governance defi protocol that is backed by the Qnode blockchain (i.e the main chain). The Qnode Blockchain is a fork of the X11 algorithmic consensus/strategy from Dash Core (v0.14 branch) with better difficulty and adjusted parameters. Qnode.Defi is probably the first of it’s kind, a protocol that uses algorithmic computation to link traditional blockchain like Bitcoin cores/forks and platform blockchain like Ethereum — ERC20 or BSC — BEP20 (in this case, BEP20).
Our approach is uniquely different. Many Defi projects are doing the same thing and a few community members just wants the status quo. But that can’t be, because the protocol is uniquely different. Therefore the two assets are Interoperable via a governance, algorithmic bridge and still retains their unique features from both ends.
A user has asked this question before: He asked:
“If after Pre-sale of $QND token is not completely sold out, what will the team do to the remaining tokens. Will there be a Burn or sent to the next round of Sales”? By Xuti Bn
From the governance computation, the supply of Qnode.Defi ($QND) is ALGORITHMIC and NOT DEFLATIONARY. Therefore, QND cannot be burnt.
So what the algorithmic computation about?
Take a look at the algorithmic computation here:
#1. IDr (Inter-chain Defi Ratio) is the algorithmic backing ratio of Qnode.Defi (QND) to QnodeCoin (QNC). That is, QNC is not being wrapped like in wBTC, wLTC etc. Wrapped coins are always 1:1 and not algorithmic. But the reverse is the case with QnodeCoin and Qnode.Defi.
Let IDr Formulae:
IDr = (0.000013% x QNC Fsupply) — Acn.
where QNC Final-Supply = 24,624,000 QNC (in 65 years)
let 0.000013% = Pam (Percent of algorithmic multiple).
let Acn (Allowable Constant of Negligible Decimal) = 0.000112
mathematically, 1 QND = 3.2 QNC (forever via the bridge)
Therefore, there shall be no burn of QND — the contract is not deflationary. The backing blockchain will have to catch-up in some years with QND supply. And if a burn happens to QND, there will be a short supply in circulation to march the algorithmic computation, since 1 QND equals 3.2 QNC. This is why the Protocol Contract cannot execute a burn tx.
Algorithmic-ly, the Total Defi Supply (TDs) of QND is calculated using the following derived formulae:
#2. Total Defi Supply (TDs) — is the maximum or final supply that is mint-able in the smart contract.
TDs = QNC Supply/IDr
Where QNC Supply = 24,624,000 QNC (in 65 years)
Where IDr (Inter-chain Defi Ratio) in QNC = 3.2 QNC (calculated above in #1.)
therefore, TDs = 7,695,000 QND
A TOUCH OF GOVERNANCE
From the governance computation above in, the ratio of the supplies have been determined in algorithmic ratio of 1 QND to 3.2 QNC. Therefore, the following will likely happen:
let make an assumption here, since the launch of Qnode.Defi (QND) has happened, we expect that sooner or later the exchanges will adjust as users places value on their assests. Assuming the value of QND is 1 USD. The market will adjust on exchanges where QNC is listed. This is because, 1 QND = 3.2 QNC (forever). Mathematically if 1 QND is $1, then community can be sure to value their QNC to be $0.3125 (i.e. $1/3.2). The QND tokenization utilizes the Qnode blockchain and vice-versa. Hence, QNC value is linked to QND via the algorithmic governance bridge and QND utility is incentivized for On-chain options (via masternodes rewards).
Read More on Governance 👉 here
WHEN IS LAUNCH OF THE ALGORITHMIC GOVERNANCE BRIDGE
The protocol is near completion of the algorithmic governance bridge development. We have achieved over 95% build on the bridge and soon it shall be public. From the whitepaper, we have estimated a 120 days governance period to release the bridge, But the team is glad with her speed of development.
Follow up on Bridge development here
WILL THIS PROJECT EVER GET LISTED TO BINANCE AND OTHER TOP EXCHANGES?
Our team will be the most excited if we get listed on the Binance Exchange. But we believe its a collective work and effort from team and community. We do not want to excuse the low funds that was raised. There are goals to be achieved in the progress of this project. We are asking to community to patiently uphold their trust and also spread words about the protocol. We cannot tell if QND will get listed to Binance exchange, But we shall target some top exchanges and also look at listing to Binance DEX (its one of the lucky parts if QND must get in to the CEX).
Soon we shall create a pool fund for bigger exchange listing, and we hope community will cooperate with us. Some community members had been paranoid with market down-slide, We will just say to you be patient and hold.
Qnode.Defi Liquidity Pool
We have set aside 20,000 QND to reward all LP (Liquidity Providers) when they supply liquidity for at-least 1 month. This means that everyone has the opportunity of earning hugely if they provide liquidity from April 25th — June 30th, 2021. When you provide liquidity, send a mail to us with proof.
Smart Contract Re-Audit
Lastly, the team has applied for a re-audit the Qnode.Defi Protocol smart contract with techrate.org. Whereas its the same audited source code. We yet feel its worth the re-audit by a 3rd party. Our dev are going to feel at ease to achieve this result and hope it comes out clean as before.
In the words of our leadDev, We shall not disappoint this protocol and it faithfuls, We shall deal transparently and every fund committed to the project will be dutifully spent. Let make Qnode Protocol great together.
From the Team:
We appreciate all who have trusted us since the official launch of Qnode Blockchain in Feb 13, 2020 and had committed funds to the Qnode Protocol Side-chain. We have been here long enough and the delivery of the protocol goals is top priority. We shall meet every fit. And other products are being developed already along with some partnerships.