QRDO Monthly Update: Burn, Governance, and Ecosystem Expansion

TL;DR

• Monthly burn of 225,430 QRDO tokens scheduled, bringing the total burned since inception to 546.690M tokens.

• Governance proposals forthcoming, aligning with community feedback and requests.

• Warden Protocol snapshot for OGs emphasizes public goods participation (ie staking and participating in governance by voting the next QPIPs)

• Discussions underway to adopt QRDO as utility token and potential airdrops for increased adoption.

• Liquidity efforts focused on DEXs like Uniswap and prominent CEXs to ensure efficient trading.

The QRDO Foundation gears up for its monthly burn, prepares for governance initiatives, and explores avenues for expanding the token's utility and liquidity. In this comprehensive update, we delve into the latest developments surrounding QRDO, providing insights into its burn statistics, upcoming governance proposals, efforts to enhance token utility, and strategies to bolster liquidity across decentralized and centralized exchanges.

This week marks the execution of QRDO's monthly burn, with an anticipated burn amount of 225,430 tokens, equivalent to 45,086 transactions multiplied by 5 QRDO. Reflecting on the burns throughout 2023 and the beginning of 2024, a total of 546,465,000 QRDO tokens have been burned since the token's inception. This figure represents a significant portion, 27.7%, of the total token supply of 2 billion, showcasing a commitment to reducing supply and increasing scarcity over time.

In line with community feedback and requests, several QRDO Improvement Proposals (QPIPs) are set to be introduced in the upcoming week. These proposals aim to address various aspects of governance and community participation within the QRDO ecosystem. Community members are encouraged to stay informed and prepared for these proposals, with assistance available for those needing guidance or support.

The Warden Protocol team has emphasized the importance of participation in voting in governance, particularly for OGs, as they prepare for a snapshot aimed at rewarding contributors to the public good within the QRDO ecosystem. Community members are urged to seize this opportunity to engage actively in governance activities to maximize their participation and potential rewards.

Efforts to enhance the utility of the QRDO token are underway, with initial discussions initiated with protocols and decentralized applications (dApps) to adopt QRDO as their utility token. Additionally, discussions are ongoing with custody protocols regarding potential additional airdrops, aiming to further incentivize participation and adoption within the ecosystem. Updates on these endeavors are anticipated in the coming months as discussions progress.

To ensure a healthy and liquid market for QRDO, efforts are being made to increase liquidity across decentralized exchanges (DEXs) such as Uniswap, as well as prominent centralized exchanges (CEXs). These efforts aim to maintain a reasonable spread and facilitate seamless buying and selling of the token. Despite current trading volumes ranking favorably, steps are being taken to further enhance liquidity and market accessibility for QRDO traders and investors.

• Liquidity to come on Uniswap (QRDO/USDC). We will do an announcement when done.

• QRDO main pairs continue to see activity and will see their liquidity increased.

  • On KuCoin (QRDO/USDT)

  • On Gate (QRDO/USDT)

  • On Crypto.com (QRDO/USDT)

  • On Bitget (QRDO/USDT)

  • On HTX (QRDO/USDT)

The QRDO ecosystem is witnessing significant developments across burn initiatives, governance proposals, utility expansion, and liquidity enhancements. With the community actively engaged and various initiatives underway, QRDO continues to solidify its position as a dynamic and vibrant ecosystem within the broader blockchain landscape. As the ecosystem evolves, stakeholders are encouraged to stay informed and actively participate in shaping the future of QRDO.