Introduction
In recent years, although DeFi has made remarkable development, the digital asset economy still suffers from many structural problems unique to the industry that lead to a lack of liquidity and hinder the functioning of the market. Besides the problem of high transaction fees and bad security, the delay of transaction confirmation has resulted in all transactions and credits requiring up to 100% of the capital being locked.
Last June, Coinlist conducted ICOs for several potential projects, including Qredo – A deep technology, DeFi infrastructure, instant cross-chain payments, empowering traders and asset managers. This project promises to solve all of the above problems with Blockchain interoperability, lightning-fast settlement, and decentralized custody safe.
Market Analysis
Until July 7, 2021, CoinMarketCap calculates a total market capitalization of $78 Billion for decentralized finance (DeFi). This market tended to grow strongly, up to 143% in the first two months of 2021. However, this is also a highly competitive market as there are already many successful projects in the market. It can be a major drawback and advantageous when the market has been proven demand, and users have also been educated by competitors.
Similar projects:
Polygon Network ($7.6B as of 9/7/2021)
It represents 0.1% of the total market capitalization. One of the Ethereum layer 2 scaling solutions has been growing very fast. More specifically, instead of providing a scalable solution like other projects, Polygon provides a Framework that makes it easy for Devs to build scalable solutions for Ethereum and allow them to connect in Polygon Network. The ultimate goal is to create an ecosystem of Ethereum-centric scaling solutions.
Arbitrum
One of the leading Layer 2 scaling solutions. Arbitrum uses a multi-round rollup protocol – Allowing rolling sidechain transactions into a single aggregate block and posting to the Ethereum blockchain for dispute resolution, where Arbitrum subdivides the dispute until it is a tiny one resolves it on-chain.
Product Highlight
Qredo products are designed to be simple. Users can create and manage funds, store assets, and execute low-cost instant transactions with user-defined custody rules on the network.
Signing App (App Store/ Google Play)
The Signing app supports the secure signing of actions using multi-party computation protocols. Understandably, the app is a method to increase the security of your account.
The Signing app is used to manipulate:
- Identify and access the Qredo Network when logging in as well as any changes to the profile.
- Add other members to the trusted network.
- Transactions where users are the Trade Initiator and Counterparty in an Atomic Swap.
- Whitelisting and the addition of addresses.
- Custody where users are a Custodian of a fund or wallet.
Website (Qredo | Fast and secure movement of digital assets)
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Functions of Funds for securing self-custody, transferring faster, and controlling capital
Funds are a way to organize secured assets on the Qredo Network. When creating a Fund, users can select supported assets and add custodians to manage usage. For business customers, users will add other users to the fund and then assign roles and permissions.
Fast and safe delivery of digital assets: deposit, transfers, withdrawals, and atomic Swaps
Qredo has just launched a new function called Atomic Swaps. Basically, this is a form of instant exchange of assets from one party to a trusted other party. Technically, this is an instant transfer of ownership of digital assets registered with the Qredo Network between two partners.
Trusted network
Qredo has taken advantage of its fast and secure to move digital assets through private transfers and swaps with its network of trusted partners.
Users can invite another party to join the network. After both agree, there will appear in each of the accounts lists of trusted parties and will be available to transfer or swap assets with each other.
Technological architecture
Fast Finality Blockchain: Qredo is built on Tendermint – A fast finality consensus engine tuned to process thousands of transactions per second, including a layer 2 statechain that transfers and records asset ownership on various layer 1 blockchains and within the Qredo Network itself.
Multi-Party Consensus Computing (MPC) Network – A next-generation, consensus-based, trustless MPC network connecting layer 1 blockchains to eliminate digital asset theft.
Encrypted Messaging: incorporated with the Matrix network – A decentralized messaging architecture. Qredo allows encrypted private communications to be cryptographically connected to transactions on the Network. This messaging layer enables applications from Qredo. The typical example is Trader Chat, an application allowing traders to buy and sell directly from their favorite chat software.
Whitepaper: Papers are publicly available and transparent. Technology is described in detail To know more, can be found at:
Github: Public and be updated last time in April 2020. Details can be found at Qredo · GitHub
Unique Selling Point (USP)
Decentralized security
Qredo protocol claims ownership of assets on a ledger versus storing them in a centralized database. Cryptography is stored in MPC nodes and distributed across the network. Together, the nodes create a digital signature for transactions without generating a private key. It is very convenient for users.
Cross-chain interaction
Support cross-chain cryptocurrency market development easily, such as cross-chain swap and cross-chain credit. It increases the applicability of the product in practice.
Automated trading
Qredo has built-in security and privacy protocols to ensure the safety of transactions that are not affected by front-running activity, MEV disruption, and nefarious and fraudulent activities.
PR & Marketing
Telegram (Telegram: Contact @qredonetwork) – There are more than 5500 active members.
Twitter (Qredo (@QredoNetwork)) – Has more than 7500 followers.
Discord (https://discord.com/invite/bgVPvf6) – Has nearly 1600 active members.
Medium (https://medium.com/qredo) – Posts updates on the progress of the project and knowledge related to Defi. The last post was on 28/4/2021
News: Information about the Centrifuge project has appeared on major news channels such as Yahoo Finance, Blockworks, … You can read it all at:
Crypto Lender Nexo Participates in $16M Round For Digital Asset Custodian Qredo.
Investors and partners
Qredo raised $11 million in seed funding back in May and has previously attracted big-name investors like Coinbase, Prime Ledger, and Figment. Recently, Crypto Lender Nexo participated in the $16M Round for Qredo in the run-up to its public token sale on July 8.
Team
Qredo’s team is very diverse, coming from both traditional and crypto fields. The Qredo team includes alumni from many of the world’s top institutions, including Celsius Network, Deribit, CMS Holding, Binance, Houbi, and more. The founding team includes:
Anthony Foy (Anthony Foy – London, England, United Kingdom | Professional Profile)
CEO & Chairman of the Board
Over 20+ years career as CEO, Board Director, and Group Managing Director for VC- and PE-backed companies headquartered in the USA and Europe operating globally.
Investor & Board of Directors of CloudSigma – A pure-cloud infrastructure-as-a-service (IaaS) company specializing in developing and delivering highly available, highly customizable, flexible, enterprise-class hybrid cloud computing and hosted solutions.
Former CEO, Investor & Board Member of SkyDox – An enterprise-class, cloud-enabled, secure file sharing and collaboration platform.
Former CEO, Investor & Board Member of Workshare – An innovative and intelligent platform empowers professionals to compare, protect and share high-stakes documents on any device.
Brian Spector (Brian Spector – Chief Product and Technology Officer – Qredo)
Chief Product and Technology Officer
Cyber Security expert with 20+ years of experience. Specializes in advanced cryptography; 5 patents.
Former founder and CEO at MIRACL – one of the fastest-growing cybersecurity companies in Europe.
Josh Goodbody (Josh Goodbody – COO – Qredo)
COO
Operational leader scaling the world’s largest cryptocurrency exchanges (Binance, Huobi Global) 15+ years experience, previously financial markets lawyer.
Former EMEA at Binance
Former global General Counsel, Director – Sales and Institutional Business at Houbi Global
Roadmap
The project has achieved previously set milestones.
Based on the milestones that the Qredo team has set and implemented on time with high efficiency in the past. This also demonstrates the commitment and trustworthiness of the project.
Long term roadmap until 2022 with clear KPIs and data
Token Economy
Token Distribution
- Token Name: Qredo Token.
- Ticker: QRDO.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x0eb28ce5527000de46f129bbf95262ae35b3084e
- Total Supply: 2,000,000,000 QRDO.
Token Utility
- Basically, the QRDO token is used to perform the following main functions:
- Governance
- Pay transaction fees when using the Qredo blockchain.
- Awarding Validator on the network.
- Rewards for liquidity providers, traders, users of custodial services.
Network Valuation & Asset Pricing
Because the token was only released on Coinlist on July 7, 2021 (UTC), there has not been yet much data on the token price. However, in the last public sale, CFG was priced at $0.5 and $0.225 for Option 1 and Option 2 respectively. You can see it as a benchmark for your future investment decisions.
