Published May 25, 2023
By Qredo Team

Qredo Partners With CryptoEconLab on Revised Tokenomics Framework

Qredo is excited to announce our partnership with CryptoEconLab, a renowned cryptoeconomic services company within Protocol Labs, to propel the advancement of Qredo Network with a fully revised tokenomics framework, set to be released in the coming weeks. 

The primary focus of Qredo's new tokenomics is to offer advanced token utility, create powerful economic incentives for token holders and builders, and bolster the overall security of the network in preparation for upcoming decentralization initiatives that will introduce external validators, protocol fees, and enhanced QRDO staking solutions to the Qredo network. 

By working closely with the CryptoEconLab team, Qredo will leverage its expertise in blockchain research and development to finalize the design and implementation of a robust token economy that aligns with the network's decentralized vision.

Some features that we are considering for the revised tokenomics framework include staking pools to enable network governance where staking users receive interest payments and validators earn a commission from public goods funds, network fees and service fees, as well as airdrop programs where users will be able to earn rewards by reaching network usage milestones.

"We know there has been great anticipation from the Qredo community around this revised tokenomics framework, and we are pleased to report that it is complete. The CryptoEconLab team at Protocol Labs' experience with computer science, economics and game theory analysis in the crypto space is second to none. Having them stress test our tokenomics framework prior to official release will be instrumental in refining and validating our work in service of all Qredo ecosystem participants."

– Josh Goodbody, COO of Qredo

"We are thrilled to collaborate with the Qredo team and to support their ecosystem. We are contributing our expertise to help Qredo align its current tokenomics with the long-term vision of a truly decentralized custody network. This includes modeling and tuning the main tokenomic parameters and assessing some key mechanisms such as stakeholder roles, token utility, the staking model, and the fee model to ensure the stability and resilience of Qredo Network. We admire Qredo's dedication to cultivating a strong and sustainable community and hope this partnership contributes to their mission."

– Maria Silva, Senior Researcher at CryptoEconLab

About Qredo

Qredo is a leading provider of institutional-grade digital asset self-custody solutions. The company's distributed multi-party computing (dMPC) technology provides a secure and regulated environment for users to store, transfer, and manage their digital assets. 

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About CryptoEconLab

CryptoEconLab offers design, research and modeling solutions to enable robust incentives and tokenomics. The team combines their expertise of economics, mechanism design and modeling with crypto-native primitives at scale. With global representation across the Americas, EMEA and APAC.

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