It has been about a month since the QiSwap Pioneers 3 event ended. The total amount paid was 500,000 $Qi tokens to about 325 Qtum addresses who provided liquidity in the Qtum/Qi and/or the Qtum/QC liquidity pools.
Pioneers 4 will be structured in a similar fashion. Liquidity providers will accrue weight depending on how much liquidity they add and for how long. We will use the same code as Pioneers 3 in order to make the payout happen faster. You may recall it took a bit longer to pay Pioneers 3 participants. This is because our payout script that was ready had a few issues in it that needed to be addressed.
Work will continue on our frontend: https://pio4.qiswap.com/
We built this as the foundation for our upcoming statistics page that will mimic Uniswap’s info page. We will update the subdomain to reflect Pioneers 4. The purpose of this frontend is so participants can verify that their addresses are participating and accumulating weight.
A quick update about an update: The QiSwap API appears to be nearing completion. A proof-of-concept has been completed, allowing us to submit this to Coinmarketcap and Coingecko and get listed as an actual DEX. If approved, we should begin to show statistics on those sites like: Total Value Locked, APY’s, Yield Farming Rates, etc. Once we get this done, we can market the project easier and release our Litepaper and Roadmap. Expect to see a development update article on this topic soon.
Pioneers 4 Information and Rules
Pioneers 4 started on Friday, October 10th, at 11:59pm GMT (London, UK) 2021. It will run for 30 days, ending on Monday, November 10th, 11:59pm GMT.
Users will be paid according to the liquidity they provide in the Qtum/Qi and Qtum/QC pools down to the second. This means if you want to provide liquidity for 3 hours, or 3 days, or 3 weeks, it does not matter you will be paid based on your weight accumulated. There is no requirement to keep your liquidity locked in the Pioneers 4 program for the entire duration of the event.
Just like Pioneers 3, the QiSwap team will pay participants who earn less than the Qtum gas required to send their payment. This means if a participant earns 2 cents worth of Qi tokens, and the Qtum gas cost is 3 cents, we will pay it. Please understand if we notice this being abused we will renege on this promise. This is so even the smallest holder, or the participant who gets in near the end of the event can get a payout.
The QiSwap team will reward participants this time with 500k $Qi coins, just like the Pioneers 3 event.
Here is the exact code of the script we used to determine weight from the Pioneers 3 event for transparency purposes. :
for lp_token in LP_TOKENS: print(f”Getting {lp_token} weights…”) token_weights = {} with open(f”result/02_{lp_token}_balance_history.json”) as f: balance_history = json.load(f) address_weights = {} for address, addr_balance_history in balance_history.items(): if address[0] != “Q”: continue addr_balance_history.sort(key=lambda x: x.get(‘timestamp’), reverse=True) addr_weight = Decimal(0) currentStamp = datetime.datetime.now().timestamp() endStamp = END_TIMESTAMP if currentStamp > END_TIMESTAMP else currentStamp
We will judge the success of this event based on the amount of new liquidity providers and how much weight they add to the pools. Based on this, we may decide to continue on with Pioneers 5.
A Brief History of QiSwap Pioneers
Pioneers 1 was held in late 2020 on the Qtum test network. Users who visited the Qtum testnet faucets and provided fake liquidity were then able to claim a $Qi token reward on the Qtum main network. 2 million $Qi coins were paid to participants. There was no purchase necessary whatsoever, as this was just a proof-of-concept to see if the contracts would work.
Pioneers 2 was an event in early 2021 that used the Qtum main network to stress test the liquidity pools. Users were rewarded for wash trading as many small transactions as they could to see if the contracts would break. Users did require some $Qi and Qtum tokens to participate, but they could have wash traded a few pennies back and forth, it was simply a stress test.
Pioneers 3 was announced in Summer 2021 in order to attract liquidity. It worked, the amount of value locked in the pools increased by about four-fold. Some users complained that this event was reserved only for large holders, but the QiSwap team reminded the community that they were given 3 million tokens basically for free during the Pioneers 1&2 events.
