Qoda is presently positioned live on Moonbeam

Qoda is presently positioned live on Moonbeam, which is a smart contract to create cross-chain-linked applications that can connect with users as well as assets and services on every chain. The Qoda protocol, on the other hand, is a decentralized loan exchange that has been duly created on the Moonbeam network. It comes with features such as an on-chain order book and an isolated collateral tier against market-tier assets. Then there is hybrid overcollateralized and undercollateralized borrowing, fixed interest rates, and fixed maturity loans. Further, there is the repayment redemption ratio (RRR).

Moonbeam combines the capabilities of Ethereum, as well as those of Cosmos, Polkadot, and others, onto a single platform and, through this, is able to address the issues raised by the users. It opens the doors for interoperability, creating avenues for futuristic applications. The platform utilizes cross-chain messaging to allow developers to build smart contracts that connect with services on faraway blockchains. The conventional token for Moonbeam is GLMR. 

Following Qoda going live on Moonbeam, they are carrying out some major alterations to the basic functions. These include the conventional token backing as well as the Talisman wallet incorporation. There is also the factor of Qoda backing two networks. One is Moonbeam, and the other is Moonriver. In the case of the changes made to the design, there is a minimum and maximum backing of form fields. There are updates on some form field backing and validation texts to bring about further clarity, and design changes are being carried out for the backing of new wallets as well as multi-network. Currently, Qoda has no token on the Moonbeam network.

As a part of their future plans, they will be actively engaged in developing an incentive-based program targeted towards the liquidity providers, such as the lenders, the borrowers, and associated others. They will also be indulging in fresh collaborations as well as incorporations. They are already contemplating the idea of a DAO.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button