Dear community members,
It is an honor to introduce to you another ecosystem partner, Smoothy. QuarkChain is one of the early investors of Smoothy and holds part of the Smoothy token SMTY. While introducing this project to everyone, and in order to help Smoothy gain more users and share more benefits with QKC holders, we decided to hold an event to stake QKC to obtain SMTY.
Building the QuarkChain ecosystem is an on-going progress. DeFi and NFT will be our key areas in the near future. In the future, QuarkChain will continue to look for high-quality projects for investment incubation to create a solid and rich application ecosystem, and hold more similar activities to share revenue with QKC holders.
Now, you can stake QKC to get SMTY, the governance token of Smoothy.finance.
At present, the stablecoin market has become a giant market segment in the DeFi field, and is well-received by others in the market. Similar products like Curve have been valued at nearly 10 billion U.S. dollars, and Ellipsis has been valued at close to 2.7 billion. The current valuation of Smoothy’s public offering is only $50 million USD. As a better stablecoin application platform, we believe that it has great potential and room for growth. This is also an important reason why we are willing to share with QKC holders.
Smoothy is a novel liquidity protocol. It is not a fork of any existing project on the market. On the basis of supporting a variety of stablecoins, it has the characteristics of a single pool, low fees, zero slippage and high staking returns. That is, in a stablecoin pool, multiple stablecoins can be exchanged. Smoothy is also considering integrating Smoothy into the QuarkChain mainnet in the future to reduce fees and improve transaction security.
At present, Smoothy has been built on two networks, ETH and BSC. The BSC version of Smoothy supports 6 stablecoins, and the ETH version supports 8 stablecoins. You can choose to deposit any supported stablecoin or several to provide liquidity. In the future, Smoothy will log on to more platforms including QuarkChain, and support more stablecoins (designed to support more than 100 stablecoins).
Smoothy is currently on sale to the public, and its governance token SMTY will be sold on BSCPad, DAOmaker, Paddle and Ignition from 04/22 to 04/27. For details, please pay attention to the official Medium:
- Transfer to smart contract time: April 21 0500 PDT (UTC-07) (first come, first served)
- Lock time: 0500 PDT April 25 to 0500 PDT May 5 (last 10 days)
- QKC return and SMTY issuance: After 0500 PDT on May 5
Staking and Reward
- The total amount of QKC: 90,000,000 QKC worth $3,000,000 (first come, first served)
- Total number of SMTY rewards: 60,000 SMTY $30,000 at the IDO price of $0.5
- The ratio of QKC:SMTY is approximately:
100:1 — For every $100 QKC you get $1 SMTY for (calculated based on fiat value)
1500:1 — For every 1500 QKC you get 1 SMTY (calculated by number)
*Note that the current IDO price of $SMTY is 0.5 USD. The picture below shows the QKC stake annualized corresponding to different prices after $SMTY goes online
- Download Qpocket from http://qpocket.io/ and create a wallet
- Deposit mainnet QKC into your Qpocket wallet address (if you have ERC20 tokens, please send the QKC to Kucoin and Gate.io to switch from ERC20 to the mainnet)
- Send at least 1500 QKC from your Qpocket (QKC mainnet mode) to: 0x1eA7928b090155eBad7f3594FD33c9019DaA97350000CC41
(Please pay attention to whether the address is the same as the address displayed in https://mainnet.quarkchain.io/stakedrop to avoid fraud)
*Note* If the transaction fails, please manually increase the GAS Limit to 100,000
- Participation is done on a first-come, first-served basis, and when the maximum quantity above is all closed, the transaction won’t proceed further and staking is not available.
- Staking will be made for a total of 10 days (4/25~5/05), and after the end, the participating QKC will be returned to the participating wallet, and SMTY tokens proportional to the amount of staking will be deposited together.
- *Important* Because the tokens will be sent to the ERC20 address of the same address as QuarkChain’s mainnet coin (that is, the last 8 sharding information is deleted), therefore, you must not send QKC directly from the exchange to the contract to participate in the pledge, and must be transferred from the qPocket wallet address to the contract. Otherwise, the rewards will not be issued correctly.
- Only the mainnet tokens are involved in staking. You can swap ERC20 to the mainnet tokens on Kucoin and Gate.io before participating in staking.
- After the transaction is successful, you can enter the address to send the transaction in the QuarkChain official block explorer https://mainnet.quarkchain.io/stakedrop, you can view the amount of your own pledge, the amount of pledge of the whole network, the upper limit of pledge of the whole network, and the end time And QKC/SMTY ratio and other information, and operate to extract after the end of the staking.