Place/Date: - November 2nd, 2021 at 10:03 am UTC · 3 min read
Contact: AscendEX, Source: AscendEX
Qredo delivers a radical new approach to bring liquidity and capital efficiency to the blockchain economy. They have pioneered the first decentralized, trustless multi-party computation (MPC) custodial network. This advancement enables them to offer decentralized custody, native cross-chain swaps, and cross-platform liquidity access.
The network is designed to address challenges that traditional financial firms face when entering the DeFi space and provides an open protocol that continually updates its capability with the support of its DAO and community. The project provides a Layer 2/Layer 3 decentralized architecture with a programmable governance layer to encourage digital asset custodian adoption or enable convenient self-custody for digital asset traders looking for best-in-class digital asset custody.
The network is not a threat to a digital asset centralized custodian’s business model; while it provides an opportunity for centralized custodians to grow their businesses and maintain relevancy as the world expands into decentralized infrastructure. These centralized custodians can use their existing infrastructure to support their customers’ activities, which generate custodian approval transactions and offer customized programmable compliance and governance flows to them.
Qredo’s team of developers build with a ‘network is the vault’ design ethos in mind. The protocol declares asset ownership rights on a decentralized ledger rather than storing ownership information in a centralized database. A decentralized ledger obviously can provide data durability and immutability.
QRDO is a utility and the governance token for the network. It has been designed to be “user-centric” and have an incentive structure that economically favors all network participants to build network effects and drive adoption. As such, the design takes into consideration the incentives required for each participant, including validators, liquidity providers, traders, and custody users.
AscendEX is a global cryptocurrency exchange with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
Qredo delivers a radical new approach to bring liquidity and capital efficiency to the blockchain economy. They have pioneered the first decentralized, trustless multi-party computation (MPC) custodial network. This advancement enables Qredo to offer decentralized custody, native cross-chain swaps, and cross-platform liquidity access.