Published Aug 26, 2021
By Qredo Team
As part of our preparations to create a healthy and liquid market for QRDO, we’ve seen some confusion around why we are doing this before 14 September, and we wanted to address this.
You, our community, are our top priority - clearing up FUD, being transparent and demonstrating our commitment to you is everything to us.
The Release Schedule
The QRDO release schedule for tokens, as you will have seen on Coinlist, is as follows:
The Ecosystem allocation is 11% of total supply (110,000,000 QRDO). This vests on a weekly basis across 48 months. So today, on the 26 August, 6 weeks have passed, so the vested but unallocated Ecosystem tokens are 3,173,076.92 QRDO.
The sole and strict purpose of the Ecosystem budget is to build community, incentivise the creation of new partnerships and for events such as hackathons.
We will be using QRDO from the Ecosystem tokens, to create two marketing promotions:
KuCoin: a LockDrop event; and
Gate.io: a Free IEO promotion.
Across these two events, 1,100,000 QRDO is being awarded to users. This is 0.11% of the QRDO token supply (small!).
Additionally, professional market making firms, who are investors in Qredo, have been loaned QRDO to help create a healthy order book on each secondary market.
What do market making firms do?
Markets that have low liquidity will generally have wide bid-ask spreads in their order books that can increase the volatility of the asset - we want to avoid this, as the overall liquidity of a market greatly influences its growth. Typically, the tighter the bid-ask spread, the more volume can be traded.
Market makers help increase liquidity and order book depth, reduce slippage and negative price volatility. They are critical in growing a healthy market, incentivising usage of QRDO and making it an asset folks want to hold for the long term to be able to participate in its utility!
We are partnering with two existing Qredo investors, Wintermute and GSR, in all our exchange listings. We will only ever have market makers who are invested in the Qredo project.
Why are we doing these listing events now?
To stimulate organic demand!
Conducting our first listing event on 14 September, on the same day as a large number of QRDO vests, is unwise and, as we’ve seen with many listings, a recipe for failure.
The Qredo team is dedicated to creating a healthy market, with organic demand from retail investors at the largest global crypto exchanges. That’s our commitment to you.
So where will QRDO be listed?
We are speaking with all the large exchanges and have big plans. Over the next few months, we will be announcing new listings every few weeks, and some of these collaborations are huge.
Starting with KuCoin and Gate.io is a great way to give QRDO exposure to 15 million new investors, many of whom are Asia-based.
The next set of listings we have planned will take this to a new level!