What is Qredo (QRDO)?

Qredo is a blockchain network that is transforming how institutions and individual investors hold and manage their cryptocurrency. Launched in November 2020, Qredo operates as a Layer 2 network and is built using the same consensus engine as Cosmos—Tendermint (aka “The Internet of Blockchains”). This allows Qredo to act as a Layer 2 solution for almost any blockchain, providing a wide range of interoperability.

Qredo offers a secure and decentralized infrastructure which is particularly appealing to institutions and individuals for managing and trading digital assets while maintaining self-custody. One of Qredo's standout features is its implementation of Multi-Party Computation (MPC). This technology represents a significant advance in crypto security, essentially removing the risks associated with private key management. Instead of needing to create and store a complete private key, MPC allows for a decentralized, shared computation of a transaction signature, potentially enhancing security in digital asset transactions.

Another key aspect of Qredo is its capability to facilitate cross-chain liquidity and instantaneous settlement. This is a major advantage in a world where crypto assets are often spread across various blockchains and trading platforms. By acting as an immutable asset registry, Qredo's Layer 2 Network enables instant cross-chain interoperability and settlement on supported blockchains, effectively bypassing the fees and delays associated with Layer 1 blockchains.

Qredo is on a path to becoming a Decentralized Autonomous Organization (DAO), with the goal of being completely owned and operated by the community. This reflects a commitment to decentralization and community governance.

How does Qredo (QRDO) work? 

At the core of Qredo’s functionality is its status as a decentralized Layer-2 network, which aims to enhance connectivity between blockchains. This enables secure cross-chain swaps and decentralized digital asset custody. Key components of the Qredo Network include blockchain interoperability, lightning-fast settlement, and secure decentralized custody. Designed for users and developers, Qredo facilitates the secure transfer of digital assets with no clearing and settlement risk, no counterparty risk, and independent governance.

The QRDO token plays a central role in the Qredo ecosystem. As an ERC-20 governance token compatible with the Ethereum blockchain, QRDO is used across the Qredo Network ecosystem. Holders of QRDO can stake their tokens as validators on the network, earning returns in exchange. Additionally, QRDO holders have voting rights on governance proposals through the Qredo DAO, further emphasizing the decentralized nature of the platform.

Overall, Qredo represents a step forward in the secure and efficient management of digital assets, offering a suite of tools and features that cater to the needs of both individual investors and institutions.

What makes QRDO unique?

QRDO stands out in the cryptocurrency world for several key reasons:

Innovative Security through Multi-Party Computation (MPC): QRDO employs MPC technology, offering a new level of security in cryptocurrency transactions. This approach eliminates the risks associated with managing private keys, a significant advancement in crypto security.

Layer 2 Network Capabilities: As a Layer 2 solution, QRDO provides enhanced scalability and interoperability across multiple blockchains. This is crucial for facilitating efficient and secure transactions in the diverse and fragmented landscape of digital assets.

Decentralized Custody and Cross-Chain Liquidity: QRDO's decentralized approach ensures secure custody of digital assets. Moreover, its ability to enable cross-chain liquidity and instant settlement is a game-changer, addressing common liquidity issues in the crypto space.

Unique Tokenomics Model: QRDO integrates features of both utility and governance tokens, incentivizing network participation and adoption. This user-centric model rewards various network participants, from traders to treasury teams.

Path to DAO Governance: QRDO is evolving towards a Decentralized Autonomous Organization (DAO) structure, emphasizing community ownership and decentralized governance.

Agility in Asset Management: QRDO facilitates the management and trading of digital assets with robust security and efficiency, catering to the needs of both institutional investors and individual users.

The QRDO token: Utility & tokenomics

QRDO, the token of the Qredo network, is notable for its unique blend of utility and tokenomics, which sets it apart in the blockchain space.

Key features of QRDO tokenomics

User-Centric Model: QRDO uniquely combines the features of utility tokens and governance tokens to create a model that rewards all network participants, not just validators. This approach is specifically tailored for a Layer 2 solution, incentivizing usage and liquidity across the network.

Diverse Participant Rewards: QRDO's tokenomics model rewards a variety of network participants, including market makers, traders, custody users, liquidity providers, borrowers, and validators. Each group plays a distinct role within the Qredo ecosystem and is incentivized accordingly.

Fee-Based and Inflation-Based Compensation: The network employs both fee-based and inflation-based methods to compensate participants. Fees are derived from transactions and custody services, and are partially rebated in QRDO tokens. Inflation-based compensation involves distributing a fixed number of tokens per epoch to network participants, with the distribution being subject to change based on network needs and DAO preferences.

Max Supply and Distribution: QRDO has a total supply cap of 2 billion tokens. Half of this supply is allocated to early stakeholders, including the core team and early investors, with a structured vesting schedule. The remaining half is reserved for network growth, incentivizing users through fee rebates and inflationary rewards.

Deflationary Mechanisms: Recent updates to QRDO's tokenomics have introduced deflationary features. These include the option to pay network fees in QRDO, which are largely burned, reducing the total supply. Additionally, significant token burns have been implemented to further decrease the token supply.

Governance and Staking: QRDO’s ultimate goal is to move towards a more decentralized consensus system. The network has started with a Federated Proof-of-Stake model and is aiming to transition to a Delegated Proof-of-Stake mechanism. This evolution allows QRDO token holders to increasingly participate in network governance.

Protocol Fees and Rewards: Transactions on the Qredo Network incur fees payable in QRDO tokens, with these fees then being burned, creating a deflationary pressure on the token supply. The network also features an Ecosystem Fund and a Validator Reserve Fund, financed through service fee tips, to reward stakers and validators, aligning incentives with the network's growth.

At first sight, QRDO's tokenomics model is an intricate system that balances utility, governance, rewards, and deflationary mechanisms, aiming to foster a sustainable ecosystem. This model not only incentivizes participation and growth but also aligns with the long-term vision of decentralization and community governance. As the Qredo network evolves, these tokenomics are expected to continue adapting to meet the needs of its diverse community and market demands.

History of Qredo (QRDO)

Qredo, emerging as a significant player in the decentralized finance (DeFi) and digital asset infrastructure space, has had an eventful journey:

Qredo's Mainnet went live in November 2020, marking the beginning of its active presence in the crypto ecosystem. The network focused on providing a secure and efficient platform for institutional investors and network partners, emphasizing its growth and expansion in the crypto ecosystem.

A key milestone for Qredo was the implementation of Multi-Party Computation (MPC). This technology was a significant advancement in crypto security, removing the risks associated with private key management. It represented the biggest cryptographic breakthrough since public-key cryptography, enabling decentralized and shared computation for transaction signatures.

Furthermore, Qredo's roadmap witnessed significant developments like partnerships with notable players in the crypto space, including MetaMask Institutional. It also adapted to emerging opportunities, such as the bitcoinization movement in El Salvador, leading to a rapid expansion of its network.

The introduction of the QRDO token, led by former Binance executive Josh Goodbody as the COO of Qredo, marked a new phase for the network. QRDO brought a unique approach to utility and governance tokens, focusing on incentivizing all network participants, not just validators. This approach aimed to expand rewards beyond traditional models, incorporating transaction, liquidity, and custody mining.

Qredo's roadmap indicates a clear path towards decentralization, aiming to become a Decentralized Autonomous Organization (DAO). This transition signifies Qredo's commitment to community governance and a decentralized operational model.

Price history and performance of Qredo (QRDO)

The price history of QRDO is intriguing: the asset was initially listed in September 2021, exactly during the brief dump between the 2 market peaks of that bull run. The listing price of $1.8 didn’t last long on the shelves and by November, QRDO reached its all-time high of $9.3. Increased volatility followed and QRDO continued its downward trajectory, but not without significant peaks along the way. However, since the $0.3 price in June 2022, QRDO has continued to drop even more, currently trading for $0.03 (as of January, 2024).

How to buy Qredo (QRDO)?

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