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Quitriam Finance Aims to Replicate the Success of Compound and Aave in the DeFi Sector

The decentralized finance (DeFi) sector is projected by some experts to have a market valuation of $800 billion in 2022. Whether this holds true or not is another thing. However, it is evident from the success of Ethereum, Aave, Compound, Avalanche, etc. that the DeFi sector is here to stay. At least for the foreseeable future.

This growth is attracting new players that are bringing innovations and ideas that complement existing projects. Quitriam Finance is the latest project, still in its presale stage, aiming to shake up the DeFi sector and make it more interesting. Quitriam Finance is powered by a governance token known as the CM token.

What is Quitriam Finance?

Quitriam Finance is more than a single project but a decentralized multichain automated market maker (AMM), incubator, and NFT launch platform. This project was commissioned by Quitriam Finance DAO Foundation, which serves to maintain the platform and benefit CM token holders.

The Quitriam Finance platform has several features that include:

  • A savings and lending platform for investors to earn interest on the digital assets they pool together. Similar to CM, Compound (COMP) is an ERC-20-based token at the heart of community governance of the Compound platform. Compound allows users to lend and borrow Ethereum tokens at different interest rates. The compound governance also allows users to vote on changes that they want to see in the protocol.
  • The MC governance token gives holders voting powers on issues such as interest rates
  • Quitriam will weigh the voting power of CM token holders based on set criteria and will increase the probability of holders benefiting from several incentive options.

The potential success of Quitriam Finance cannot be overstated. One can look at platforms like Aave to have a picture of where Quitriam is headed. Aave allows users to borrow at least 17 cryptocurrencies without using any middlemen. Users can have exposure to different cryptocurrencies without going through the hustle of buying, storing, and selling them. Aave is a collection of lending pools where users can deposit cryptocurrencies they want to lend. Borrowers can take a loan by withdrawing from those pools.

Those that missed the boat when Aave or Compound launched can buy their CM tokens during the ongoing presale.

Quitriam Finance CM Token

The CM token has several utilities within the Quitriam ecosystem. The token is the entry point for people who want to enjoy the benefits offered by the platform. The utilities include voting, access to loans and compound interest, and admission into the platform’s savings program.

Each CM trade will be charged a 0.3% competitive fee where 0.25% of the fee is distributed to liquidity providers based on their contribution and the remaining 0.05% goes to the MC governance pool.

There will be a total supply of 500 billion CM tokens. 30% of the tokens will be allocated for the presale and 50% reserved for liquidity.

Quitriam Tokenomics. |Source: Quitriam.io

What Else is on Offer?

Quitriam is offering a decentralized exchange (DEX) that addresses the weak points of centralized exchanges and allows two users to trade with each other without the need for a trusted third party. The platform is also launching a liquidity pool as a service. This enables users to deposit tokens and earn rewards on their staked tokens.

Quitriam is giving investors and token backers the chance to invest in the earliest stage of the project. The CM governance token will power the ecosystem and is expected to replicate the success observed in well-known DeFi projects such as Compound and Aave.

Final Thoughts

Quitriam Finance is an upcoming DeFi platform that has set its sights on offering users a platform to earn money while enjoying the benefits of a superior product. Those who want to participate in the ecosystem need to hold CM governance tokens which they can buy in the presale.

Website: https://quitriam.io/

Presale: https://presale.quitriam.io/register

Keywords:

Quitriam Finance, DeFi, Governance token, CM, Compound, Aave, Ethereum, presale

 

 

 

 

 

 

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