Quasar Finance Launches Main Network Based on Cosmos DeFi Protocol: All You Need to Know

On March 27, it was announced that the main Quasar Finance network based on the Cosmos DeFi protocol has now been launched. Users can access the cross chain treasury OSMO PRO and multiple Osmosis liquidity pools, which will automatically compound returns. Quasar Vault allows users to access cross chain DeFi by combining and automating various other Cosmos protocol products, and Osmosis will be launched on schedule. OSMO PRO uses unilateral deposits to access three different Osmosis pools: OSMO-ATOM, OSMO-USDC, and OSMO-stOSMO. Users only need to deposit into OSMO without other operations, and the vault will be processed automatically. The initial total deposit limit for the OSMO PRO Treasury is 500000 OSMOs, which will gradually increase and eventually be eliminated, depending on the governance situation. There are four different sources of rewards generated from the treasury: returns generated by the liquidity pool through transaction fees, Osmosis incentives, external incentives, and Quasar incentives. The QSR token is planned to be launched in the second quarter of 2023. Users do not need to hold any QSR at this time to use the first Interchain vault. Prior to this, the gas fee on Quasar was paid by OSMO.

DeFi protocol on Cosmos, Quasar Finance main network is now online

As of March 27, 2021, Quasar Finance has officially launched its main network based on the Cosmos DeFi protocol. With this launch, users now have access to the cross-chain treasury OSMO PRO along with multiple Osmosis liquidity pools that automatically compound returns. In this article, we’ll take a closer look at what this latest launch entails and how it will benefit users.

Table of Contents

– What is Quasar Finance?
– Introduction to the Cosmos DeFi protocol
– Quasar Vault: Automating cross-chain DeFi
– Access to OSMO PRO and Osmosis liquidity pools
– How OSMO PRO works
– Rewards generated from the Quasar Finance Treasury
– The future of Quasar Finance: Launching the QSR token
– Gas fee payments on Quasar

What is Quasar Finance?

Quasar Finance is a cross-chain DeFi platform that provides users with access to multiple protocols, including Cosmos, with the goal of simplifying the user experience. The platform aims to offer a range of interoperable financial services, such as lending, borrowing, and trading. With the recent launch of its main network based on the Cosmos DeFi protocol, Quasar Finance is creating a more user-friendly DeFi ecosystem for all.

Introduction to the Cosmos DeFi protocol

The Cosmos DeFi protocol is built on top of the Cosmos SDK, a modular framework for building blockchain applications. The Cosmos protocol enables developers to create customized blockchains that can communicate with each other, allowing for interchain communication. This means that users can transfer assets and data across different chains seamlessly.

Quasar Vault: Automating cross-chain DeFi

Quasar Finance’s cross-chain DeFi platform is based on the Quasar Vault, which utilizes the Cosmos protocol’s interchain communication capabilities. Quasar Vault allows users to access cross-chain DeFi by combining and automating various other Cosmos protocol products, creating a simpler and more streamlined user experience.

Access to OSMO PRO and Osmosis liquidity pools

With the launch of Quasar Finance’s main network, users can now access the cross-chain treasury OSMO PRO and multiple Osmosis liquidity pools. OSMO PRO uses unilateral deposits to access three different Osmosis pools: OSMO-ATOM, OSMO-USDC, and OSMO-stOSMO. This means that users only need to deposit into OSMO without other operations, and the vault will be processed automatically.

How OSMO PRO works

The initial total deposit limit for the OSMO PRO Treasury is 500000 OSMOs, which will gradually increase and eventually be eliminated, depending on the governance situation. There are four different sources of rewards generated from the treasury: returns generated by the liquidity pool through transaction fees, Osmosis incentives, external incentives, and Quasar incentives. The Osmosis incentives come from the yield farming mechanism, and the external incentives come from other cross-chain protocols that interact with the Osmosis network.

Rewards generated from the Quasar Finance Treasury

The rewards generated from the Quasar Finance Treasury comprise returns from the liquidity pool transaction fees, Osmosis incentives, external incentives, and Quasar incentives. The total returns earned are then distributed to the users who have deposited funds into the OSMO PRO Treasury. As the Treasury grows, the rewards generated will increase, thereby creating a virtuous cycle for the platform.

The future of Quasar Finance: Launching the QSR token

The QSR token is planned to be launched in the second quarter of 2023. Though users do not need to hold any QSR at this time to use the first Interchain vault, it is likely that the QSR token will become an essential component of the platform in the future. The launch of the QSR token will create new opportunities for users to earn rewards and participate in the governance of the platform.

Gas fee payments on Quasar

Prior to this launch, the gas fee on Quasar was paid by OSMO. However, with the new main network launch, users will now have to pay gas fees in Atom, the native cryptocurrency of the Cosmos network. This change will ensure that Quasar remains secure and sustainable over the long term, further improving the DeFi experience for Quasar Finance users.

Conclusion

In conclusion, the launch of Quasar Finance’s main network based on the Cosmos DeFi protocol is a significant milestone in the world of cross-chain DeFi. With access to OSMO PRO and multiple Osmosis liquidity pools, users can now enjoy a more streamlined and robust DeFi experience. In the future, the QSR token will also be launched, providing additional opportunities for users to earn rewards and participate in the governance of the platform.
##FAQs
1. What is Quasar Finance?
A: Quasar Finance is a cross-chain DeFi platform that provides users with access to multiple protocols, including Cosmos, with the goal of simplifying the user experience.
2. What is the Cosmos DeFi protocol?
A: The Cosmos DeFi protocol is built on top of the Cosmos SDK and enables developers to create customized blockchains that can communicate with each other, allowing for interchain communication.
3. What is the OSMO PRO Treasury?
A: The OSMO PRO Treasury is a cross-chain treasury that enables users to access three different Osmosis pools: OSMO-ATOM, OSMO-USDC, and OSMO-stOSMO. Rewards are generated from the Quasar Finance Treasury and distributed to users who have deposited funds into the OSMO PRO Treasury.