Published Aug 4, 2022
By Qredo Team
5 ways to use Qredo x WalletConnect
From farming stablecoins on Curve, to flipping altcoins on Uniswap, and funding NFT purchases on OpenSea, Qredo and WalletConnect enable you to access Web3 with more security than ever before.
To whet your appetite for the upcoming integration, here are five different ways that you will be able to take advantage:
1. Trading on DEXes
Decentralized exchanges are often the best source of liquidity for smaller tokens that have not yet been listed on major platforms. And as many DEXs are now running on Layer 2 protocols, they can also offer the most cost-effective and capital efficient trading experience.
Qredo WalletConnect offers a secure way to trade on popular DEXes across all Ethereum-compatible chains, including popular venues such as Trader Joe on Avalanche and Uniswap on Ethereum.
Plus, Qredo introduces an additional security check that means your funds are now more protected than ever before:
Limiting dApp Approvals
When wallets interact with dApps, they typically use the ERC-20 approve method, which grants dApps permission to transfer an almost unlimited number of tokens from the wallet. This is convenient, as it means there is no need to approve individual transactions, but it comes at the cost of security — as simply connecting to a dApp can now lead to a wallet being emptied.
Qredo's WalletConnect integration introduces a limited approval mechanism, so you only approve what you want to spend, and can thus protect the funds in your wallet from being withdrawn without your consent.
2. Farming Stablecoins
One way to weather crypto market volatility is by earning steady yield on dollar-pegged assets.
Qredo x WalletConnect offers a secure way to do this by farming stablecoins on dApps such as Curve. You can deploy assets on Curve deployments across all EVM chains — including Polygon and Fantom — by simply scanning a QR code. Connecting in this way also reduces the risk of falling victim to other crypto market risks, such as malware clippers and phishing attacks.
3. Borrowing and Lending
Peer-to-peer lending protocols are the central pillar of DeFi. They give lenders the opportunity to earn yield, and enable borrowers to access funds instantly to cover expenses, and boost their investment power by leveraging holdings.
Qredo and WalletConnect offer the most secure way to connect to lending protocols such as Aave and Compound.
4. Flipping NFTs
Whether you're collecting CryptoPunks or buying fine art, Qredo and WalletConnect can connect you to all the top marketplaces — such as OpenSea, Rarible, and SuperRare — to buy and sell NFTs across all EVM chains.
On Qredo Network, the NFTs are secured by decentralized multi-party computation, and can be protected by your own custom governance and insurance policies.
5. Gaming and exploring the metaverse
Entertainment is a big part of the Web3 ecosystem; forming both an important entry route for newcomers, and a testing ground for innovative ideas.
Qredo and WalletConnect offer a secure way to manage your in-game and in-platform assets — whether it is virtual property in Decentraland (on Ethereum), fierce creatures from Axie Infinity (on Ronin), or cards from the Alien Worlds game (on BNB chain).
Connect by simply scanning a QR code
No need for insecure browser plugins or additional software. Simply scan a QR code to securely connect, without the insecurities of browser extensions or the risk of malware intercepting your communications.
Secure signing activity
Messages between Qredo and the dApp are end-to-end encrypted, and transactions are signed through your own custom governance secured by decentralized multi-party computation (MPC) — removing the risk of private key theft or loss.
Access hundreds of dApps across dozens of blockchains
Qredo's integration with WalletConnect v1.0 supports any EVM-compatible chain, unlocking access to more than 450 dApps across Web3.