#14 Quasar
Cosmo based defi protocol that raised 5.4m at 70m valuation !? with tier 1 investors shimacapital, polychain, blockchaincap, Sunny (osmosis zone founder)
#14 Quasar
Cosmo based defi protocol that raised 5.4m at 70m valuation !? with tier 1 investors shimacapital, polychain, blockchaincap, Sunny (osmosis zone founder)
In this thread
TLDR - What is Quasar
How does Quasar work
Opportunities & Challenges
Summary
First off, as a big #cosmo fan, I am quite excited on a team with resources building with cosmo sdk & IBC
TLDR
Quasar allows users to launch vaults with DeFi strategies with IBC enabled protocol permissionlessly.
How does it work
It is an early protocol and most of the gitbook is not not finished yet.
From it’s gitbook seems like There are different roles within the ecosystem
Vault Creators
Strategist
Liquidity Providers
I’d imagine
“Strategist” will design & propose different strategy
“Vault Creators” will implement these strategy
“Liquidity Providers” will be the users depositing into these vaults (strategy)
Here's a capital flow map from the team.
Users can deposit into qBANK then choose which strategy they want to deposit into.
Some will be a fee charged and funnel into “Quasar Treasury”
Why is it exciting? Cosmo SDK & IBC
There are lots of chains are actually built via cosmo SDK and IBC is a standard communication that allows tokens within the cosmo ecosystem to transfer frictionlessly. In short it makes all the cosmo ecosystem token flow easily.
Opportunities
First notable strategy based protocol within cosmo ecosystem (tag me if i miss any other)
All #Cosmo ecosystem chains are POS, even just auto-compounding will be useful to a lot of users.
Challenges
Currently there are low #DeFi activity on cosmo chains - Boost strapping a community that contributes different strategy
Summary
As a #cosmo & application thesis fanboy I am excited seeing cosmo protocols getting funded during the bear. Special with a sizable investment from
@shimacapital @polychain @blockchaincap @sunnya97 (@osmosiszone founder)
Personally im bullish on the cosmo thesis, however currently there aren’t that much DeFi activity on their right now, not enough trading and active borrow & lending. It will be interesting to see what strategies can be built on top of it.
I am not very up to date with cosmo ecosystem do correct me if i am wrong and tag me with any cool DeFi project in the cosmo ecosystem
Thank you for reading n joining my "new year new me" threadooooor journey
