spot_img
spot_imgspot_img
19.5 C
London
Friday, August 19, 2022
spot_img
HomeCOINSWhat Is Quid Token (QUID)? Complete Guide Review About...

What Is Quid Token (QUID)? Complete Guide Review About Quid Token.

What Is Quid Token (QUID)?

Quid Token is an SPL token, Solana’s equivalent of ERC-20. Its raison d’être is to be the most liquid digital asset on the Solana blockchain second only to SOL itself. To achieve this end, all initial liquidity provided by the Quid Token Foundation (the “Foundation”) in any of QUID’s liquidity pools will be locked in perpetuity. In addition, all subsequent liquidity fees earned by the Foundation in USDC, SOL and any other non-QUID asset will continually be funneled back into QUID’s liquidity pools.

In essence, QUID’s liquidity will increase with every trade, whether QUID trades up, down, or sideways. QUID’s perpetually increasing liquidity makes QUID an ideal store of value for holders and the ultimate utility and social token for devs looking to adopt a native currency for their DeFi and other decentralised projects.

Quid Token Storage Key Points

Coin BasicInformation
Coin NameQuid Token
Short NameMISHKA
Circulating Supply1.00B QUID
Total Supply8,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Perpetually increasing liquidity

Quid Token primary distinguishing feature from other digital assets is its ever-growing liquidity. All liquidity fees earned by the Foundation in SOL, USDC, and any other non-QUID asset will remain and accumulate in QUID’s liquidity pools in perpetuity. Where available, the pools themselves will be locked in perpetuity as well. QUID has a fixed pre-mined supply of 8 billion (8,000,000,000) tokens. All future minting has been disabled and may be confirmed on chain. Hence, whilst tokens are capable of being “burned”, no more can ever be created. At the Foundation’s discretion, the Foundation may opt to leave liquidity fees earned in QUID in its pools as well.

Where the Foundation opts to remove (or not re-deposit) some or all liquidity fees earned in QUID from a pool, the tokens will be used for general working capital purposes, as well as to drive adoption, partnerships, and the QUID community, as explained in the section of this paper. Where a decentralised exchange pays out a portion of the liquidity fees in their native token, i.e., an asset other than the trading pair assets of a liquidity pool, the Foundation may opt to use such fees for the same purposes as well.

Uses cases

To date, the primary beneficiaries of most utility tokens, social tokens, and even meme tokens have been the founders of the tokens themselves and not the users and devs that sustain the tokens, build dApps and ecosystems around the token, and grow the tokens’ communities. Following the sale of tokens or an appreciable increase in trading price, founders often remove liquidity from their tokens’ liquidity pools in order to lock in profits, much to the woe of their community members. Once removed, liquidity is rarely, if ever, re-added to the pools.

Quid Token perpetually increasing liquidity makes QUID an ideal store of value for hodlers, and the ultimate utility and social token for decentralised platforms based on the Solana blockchain. In stark contrast, QUID’s liquidity pools are locked and perpetually growing, thus putting its community members first. Coupling QUID’s ever-growing liquidity with Solana’s ultra fast transaction speeds and low fees, QUID incentivises hodling, dev adoption and utilisation. Accordingly, QUID’s list of use cases is likely only to evolve and expand over time.

Liquidity Sources

As previously set out, QUID’s liquidity will be primarily sourced from DEX liquidity fees. All liquidity fees earned by the Foundation from its pools in SOL, USDC and any other non-QUID asset will remain and accumulate in QUID’s liquidity pools in perpetuity. From time to time, the Foundation may opt to leave liquidity fees earned in QUID in the pools as well.

In addition to the perpetual funneling of liquidity fees back into QUID’s liquidity pools, liquidity may also be sourced through various other Foundation initiatives, such as NFT fundraiser campaigns and incentive programs for liquidity providers.

Token launch

As Solana’s first true social token and universal utility token, there will be no seed or private sale rounds or “soft launches” for the benefit of Foundation members, family and friends. A hard launch date will be announced on QUID’s website and social media channels with advance notice to the QUID community to ensure fair access for all. Tokens distributed to the Founders will be locked until January 1, 2022, utilising token vesting card. For transparency, all addresses and vesting seeds will be made public. A portion of the general circulation tokens may be set aside for staking and other rewards.

Foundation funds will be used to drive QUID adoption and utilisation (through the Quid Grants Program), strategic partnerships, QUID’s community, and for general working capital purposes. 75% or 6 billion QUID have been earmarked for general circulation to maximize QUID’s liquidity and the number of tokens available for developers, users and the Quid Token community, and to minimize the potential price impact of Foundation transactions. Tokens will be released in batches as threshold liquidity levels are reached.

Risk Factors

There are countless risks and uncertainties that could have a material adverse effect on the trading/swapping price of QUID. Some of those risks and uncertainties are identified below. Please do your own due diligence before making a decision to purchase or swap QUID tokens.

Risks Inherent to the Crypto Industry

The Foundation operates in a highly regulated and rapidly evolving market. Sometimes new risks emerge and the Foundation make no assurances that it will be able to predict any of them, or be able to predict how they may cause actual results to vary from those described in any forward-looking information. The industry is subject to extensive controls and regulations, which may significantly affect the financial condition of market participants.

The laws, regulations and guidelines generally applicable to the crypto industry domestically and internationally may change in ways currently unforeseen by the Foundation. No assurance can be given that new rules and regulations will not be enacted or that existing rules and regulations will not be applied in a manner which could limit or curtail the Foundation’s ability to carry out its operations and objectives.

Other risks inherent to the crypto industry include hacking and technological interruptions. While the Foundation has taken and will continue to take reasonable steps to provide hacker-resistent coding and smart contracts and to ensure the security and safekeeping of all QUID tokens in its custody, Quid Token, like all digital assets, may be subject to cyber attacks from hackers and other malicious actors, which could adversely impact the QUID project and the trading / swapping price of QUID.

The decentralised exchanges on which QUID will be listed may also be subject to hacks or technological interruptions that could adversely impact QUID. Quid Token is an SPL token based on the Solana blockchain. Negative news and events impacting Solana and/or the crypto industry as a whole could also adversely impact the trading/swapping price of QUID.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .
spot_img

- Advertisement -

JUST NOW PRESS RELEASE

RELATED ARTICE BY WOOTFI MILE TEAM