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The Qredo Token in a Nutshell

19.01.2022

Trading the Qredo token on Coinmetro calls for a proper introduction of this emerging network.

 

The Qredo infrastructure combines interoperability, settlement at a breakneck speed, and most secure decentralized custody, thus offering a solution for the blockchain’s problem of locked liquidity and poor security – and beyond.

 

This article provides a comprehensive overview of the Qredo network and its token, QRDO.

The ABCs of the Qredo Network

The Qredo Network went live in November 2020 to bring its users decentralized management of digital assets highlighted with institutional grade security.

 

It’s focused on decentralization, aiming to become a DAO (Decentralized Autonomous Organization) in the future. Decentralized custody for decentralized assets is what lies at the premise of the network.

 

A true technology pioneer, Qredo doesn’t use smart contracts or wrap tokens. As a matter of fact, Layer 1 private keys are never generated.

 

To decentralize private keys, Qredo uses the technological step forward of multi-party computation (MPC). Why? MPC enables segregated deposit addresses and eliminates the risk of private key theft. Although Qredo is a Layer 2 network, it is fully interoperable with Layer 1 networks.

 

To record a user’s ownership of digital assets on other blockchains, Qredo uses a single blockchain. To explain, you can send and receive any digital asset to/from any other Qredo user instantly. As the network is fully interoperable with Layer 1 networks, you can also move your digital assets inherent to a Layer 1 network – just as cheaply.

 

Here’s another amazing highlight of Qredo – the network uses Tendermint technology that enables both asset settlement and delivery on the underlying blockchain in less than one second!

 

Qredo Token's Network Infrastructure

 

What is the Qredo Token?

QRDO is an ERC-20 utility and governance token for the Qredo network. The total number of the Qredo tokens is hard capped at two billion, of which one billion tokens are set aside for Qredo Ltd. investors.

 

The user rewards system is absolutely unique, built around a user-centric tokenomic model unlike any other. Everybody gets rewards – all user types aka network participants get rewarded, without exception:

  • Transaction mining – Up to 100% QRDO rebates per transaction to incentivize usage of the network
  • Custody mining – Inflation-based mechanism rewards participants for holding assets within the Qredo network.
  • Validator rewards – A high reward model derives from user fees, whereas rewards are payable in QRDO tokens. In addition, there’s an emissions schedule available.
  • Market maker mining – It’s not just that market makers pay zero fees, but they also get rewards in L1 and QRDO for providing market liquidity.

What’s Next?

Qredo is surely moving towards a fully decentralized model that will operate independently of any central authority. Currently, the network prepares to roll out Version 2.0 of the Qredo protocol.

 

The network will thus be secured by an open, distributed network of Qredo Validators, which will operate MPC protocols to govern user market activity, protect deposits, validate transactions, and, last but not least, vote on new blocks.

 

To wrap it up, Qredo is a cutting-edge, powerful open network that works for everyone, and this is the primary reason why Coinmetro is aligned with the Team.

 

Qredo Token Now Trading on Coinmetro

That’s right, the Qredo token is now trading on our main exchange platform.

 

Please note that the QRDO/USD pair is currently available via limit orders only. Market orders and swaps for this asset will be available shortly.

Ready to start trading QRDO and join the #thenetworkisthevault revolution? Sign up now or head over to Coinmetro and log in to your account!