QiSwap Progress Report Feb 22nd, 2021

There’s a lot to discuss, and we find it works best if we do this in TL;DR format so as not to create long documents. Articles in this format also allow researchers who are keeping tabs on multiple projects to stay up-to-date with QiSwap without having to sift through large amounts of material.

QiSwap Core Contracts

  • We plan to deploy more liquidity pools shortly. Currently there is only the Qtum Beets liquidity pool, which represents Qtum/QC. This is also our first Nitro Pool, where 1 million Qtum is being staked and the rewards (the stake) is being airdropped into liquidity providers’ Qtum deposit addresses for 1 year. For more information about the QC stablecoin, click here: https://coinmarketcap.com/currencies/qcash/
  • We have decided that we will pay the fee to have the Slowmist team audit each liquidity pool contract that is deployed on QiSwap, even if they are almost exact duplicates of each other. This will slow down the deployment of additional liquidity pools, but we believe the more eyes that are on the code the better when dealing with fiscal security.
  • The next liquidity pools to be deployed will be Qtum/Qi and QC/Qi. Our Qtum Locker Nitro Pool will be deployed shortly after, which is a Qtum/(wrapped)Filecoin pool, with airdrops wrapped filecoins as they are mined by a 6block.com mining contract worth USD $100k+ for 1 year. We will begin deploying these pools after the airdrop and Pioneers II program takes less of our attention and we can focus on other things.

QiSwap Airdrop & Pioneers II Program:

  • The QiSwap snapshot happened on February 12th, 2021 at Qtum block height #793,284, if you had Qtum tokens on a participating exchange or in a Qtum QRC20 compliant wallet, you will be eligible to receive Qi tokens at a rate of 1 qi for each 2 Qtum held.
  • If you have QIAIR tokens in your QRC20 compliant wallet, you will have to swap these for Qi tokens using a smart contract. For the Qtum-QT core we have compiled a guide that can be followed here: https://learn.qiswap.com/how-to-swap-qiair-for-qi
  • The swap contract will be live for 3 weeks. After this date you will not be able to swap your QIAIR tokens for Qi. If you had your Qtum on a participating exchange, they will do the swapping for you. You can see the amount of Qi token holders increase as they swap tokens on the block explorer: https://qtum.info/qrc20/54fefdb5b31164f66ddb68becd7bdd864cacd65b
  • Due to the Chinese New Year and market conditions, many exchanges are busy. The arrangement we have with participating exchanges who have reached out to us is that we are sending them the Qi once they prove their Qtum reserves and request that we send them tokens. If your exchange has not yet credited your account with Qi, it is simply because they have not requested them from us or they have not credited them to you. If you’d like to watch in real time on a block explorer the Qi tokens moving, please click this link: https://qtum.info/qrc20/54fefdb5b31164f66ddb68becd7bdd864cacd65b/
  • The Pioneers II program has been overshadowed a bit by the protracted airdrop. We will discuss this in length after we start seeing progress from the centralized exchanges participating in the airdrop.
  • There was an issue with the original “QiSwap Airdrop QIAD” distribution script, which is why we had to make some changes to the code and distribute a new token; QIAIR. We don’t want to go into details, but the script is available for all to see and the decision was made shortly after executing it.
  • The exchange Gate.io has received their Qi tokens and opened trading: https://www.gate.io/trade/qi_usdt
  • The circulating supply of the Qi token is 30 million of the total 1 billion tokens. It should take about 4 years for this emission to complete.

What’s Next?

  • We’re working internally on documentation and strategy. Most notably our marketing and development roadmaps.
  • Governance documents are still being edited. These will break down how the economy of QiSwap will operate, and how it will be governed. Expect to see an Economic Whitepaper.
  • Nitro Pool marketing. We believe this part of the project was drowned out by the airdrop attention. The earlier airdrop articles on Medium attracted over 100k views, far outstripping the interest the Nitro Pools received.
  • Exchange listings. We didn’t expect to be approached by so many large exchanges but it happened suddenly, and right before holiday seasons in Asia. We may be in a position to get listed on some exchanges that participated in the airdrop. They’ve basically all told us that airdrop participation does not mean listing, otherwise all projects looking for attention would do airdrops. We still need to apply, which we plan to do.
  • Wrapped tokens. Until our development plans are realized, we will need wrapped tokens to provide popular trading pairs. This is not a simple process, as it requires vast amounts of capital to purchase reserves of other projects.
  • More liquidity pools. As discussed above, we plan on implementing more pools than our initial Qtum/QC launch contract.