Qtum creators have locked $20 million worth of QTUM tokens to support DeFi projects.
Qtum (QTUM) as a crypto asset has grown and it’s one of the promising DeFi-based crypto’s in the market today. Last year, Qtum worked on some important projects which included Offline Staking, Phantom (protocol privacy), and Neutron (virtual machine architecture).
Recently, Qtum collaborated with Gate.io to secure QTUM tokens worth $20 million for its DeFi project. This large amount of holdings will help the digital platform to ensure higher liquidity, as it intends to introduce a liquidity pool that will significantly reduce transaction cost and time.
It’s pretty clear that Qtum is vowing on the DeFi project and wants to ensure that it has enough in the wallet to keep its latest projects on track. The partnership with the blockchain exchange, Gate.io is one example of it. Reportedly, this will be Qtum’s first step towards its DeFi project, which focuses on increasing liquidity towards the Layer2 solutions.
Having $20 million worth of QTUM tokens at the back-end of the digital platform, the liquidity pool will easily achieve the required target using Layer2 technology. This will reduce the issues that quite often occur with Ethereum.
In 2020, one of Qtum’s main targets was to emphasize DeFi tools and capability. The management believes that DeFi will play a vital role in the success factor for blockchain. Qtum is focusing hard to develop the technology and fully integrate it into its ecosystem.
As we head forward, Qtum has some interesting projects on its work list for this year. The five swim lanes for the Qtum 2021 Roadmap include Qtum Core, Qtum Infrastructure, Neutron, DeFi & DApp Partnerships, and Community Activities.
Each of the five projects has its significance but the major one remains the DeFi & DApp partnerships that will help to expand Qtum’s ecosystem across masses.
Crypto is a much popular and understandable asset than it was a few years ago. Governments, financial institutions, investors, and all the other stakeholders are kind of owning the cryptospace. This reflects that they have admitted that blockchain and digital currencies are the future.
Qtum is bringing fundamental node technology for faster blocksinterface, and virtual machine updates through its Qtum core. While the Qtum Infrastructure is all about tooling for smart contact integration with Ethereum tools and cross-chain bridges.
Qtum (QTUM) has a very conclusive roadmap which shows that it is to stay for a long time and make a difference in the market. Apart from fundamental analysis, the digital asset will be at the pinnacle of the market.