Liqwid v1 Deployed on Cardano Mainnet
We are pleased to announce Liqwid v1 mainnet launch is finally here — You can supply ADA and earn interest plus staking rewards yield, directly in your wallet by holding qADA as a lender.
We are pleased to announce Liqwid v1 mainnet launch is finally here — You can supply ADA and earn interest plus staking rewards yield, directly in your wallet by holding qADA as a lender. You can also lock your qADA as collateral to originate loans on Cardano’s first pooled lending protocol. Currently users may only borrow ADA but we’ll soon have full support for other Cardano native assets and stablecoins as algorithmic lending markets on Liqwid. To our knowledge Liqwid is the first DeFi protocol in existence to compose staking rewards and supplier APY into a single fungible asset.
The ADA market stake validators have been delegated to the following pools on mainnet:
BSP, WEQNT, QCPOL, PSYA, SMAUG, ZOE, TANGO, PSB, SWAG, ITZA, PRIDE, ADA, CARDs, 314, OTG, POA.
We would like to thank our technical partners at MLabs and Tweag for their support and steadfast dedication throughout the software development and auditing phase of the Liqwid v1 protocol. In addition to our Liqwid Labs developers, the talented engineers and smart contract auditors at these software development organizations have played key roles in getting us to this point of mainnet launch.
We began smart contract development in Plutus back in February 2021 with a bold vision to develop a liquidity market protocol for Cardano users to seamlessly lend and borrow native assets. Since then our core developers have been heads down working to ship the first algorithmic money market and liquid staking derivative protocol on Cardano. The beta mainet app is accessible at:
qADA policy ID: a04ce7a52545e5e33c2867e148898d9e667a69602285f6a1298f9d68
As a reminder the mainnet ADA market parameters are as follows:
What’s up next:
Following a final round of UI testing in the coming days we will open the governance portal in the app to enable LQ staking (including Aquafarmer boost), proposal voting and delegation.
Support for Cardano native asset markets is in final testing including updates to the UI to support non-ADA markets. The first new markets will have community governance proposals submitted for voting in the next few weeks.
Protocol incentives to Liqwid suppliers and borrowers will begin following the completion of our off-chain rewards distribution system.
Minswap Collective Zap-in begins next Tuesday, February 7th. For more information read our latest article here.
DeFi integrations with Cardano DEXs and DeFi protocols (e.g. borrow and swap in a single transaction).
App UI and performance improvements will be an iterative process we continue working on through mainnet launch.
Implement the modifyCollateral action in liqwid-offchain so users can update their Collateral distribution without needing to repay or borrow more assets.
Implement borrow and supply caps for all markets in liqwid-offchain as an additional risk management parameter (if an on-chain update is required to implement this it will be completed as part of Liqwid v2).
Launch a supply-only LQ market that enables LQ holders to borrow DJED or other community approved stablecoins (similar to how the AAVE market on Aave works).
Implement credit delegation via an Atala Prism/IAMX integration.
Explore flash loans and other yield generation mechanisms for the ADA market supply.
Deploy the Liqwid protocol on a Cardano Layer 2 solution such as Hydra.
Finally a HUGE THANK YOU to our community of Aquafarmers for your continuous support and patience during v1 development. Your lively discussions in Discord and the governance forum kept our core team focused on the mission during this marathon of a development phase.
- The Liqwid core dev team
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