Quasar is set to launch its mainnet on 23rd March 2023. Its $QSR token launch is confirmed and users of the current testnet can qualify for the airdrop. In this article, we will explain what Quasar is and what you can do to position for the airdrop.
What is Quasar?
Quasar is a specialized capital management blockchain within the Cosmos ecosystem, set to launch its first product: an IBC-integrated, multi-vault strategic investment platform. This development fills a gap in the Cosmos ecosystem, which currently lacks a vault protocol. By utilizing Quasar, users can access yields from every IBC-compatible blockchain.
With Quasar, liquidity providers (LPs) can select a vault for depositing their tokens via single-sided asset staking, receiving enhanced yield returns compared to depositing LP tokens in traditional liquidity pools. Each Quasar vault embodies a distinct strategy executed through an automated workflow. Vaults will cover various services, such as generating yields and offering collateralized loans, while also extending their focus to other ecosystems and blockchain networks.
In February 2023, Quasar successfully raised $6 million in a seed funding round led by prominent investment firms Polychain Capital and Blockchain Capital, with participation from some of the top builders and investors in the Cosmos ecosystem such as Figment, Lightshift Capital, Galileo, Binary, HashCIB, Sunny Aggarwal of Osmosis and Evra, the founding team behind Evmos.
What is the Quasar ($QSR) token?
Yes, Quasar confirmed in its document that they are launching the $QSR native token for the Quasar chain. It will be used for proof-of-stake security via Tendermint Consensus Algorithm. Additionally, $QSR enables full self-governance, granting the community decentralized autonomous organization (DAO) authority to shape the future direction of vault strategies and the treasury. Transaction fees on Quasar will also be paid in $QSR.
How to Receive $QSR Airdrop?
Quasar has hinted in their Discord channel that they may be doing an airdrop. In particular, the airdrop will reward testnet participants. Here’s how to receive a potential $QSR airdrop:
Interact with the Quasar Public Testnet to be eligible for the $QSR airdrop in the future. Here’s a step-by-step guide:
- Connect Keplr Wallet to Quasar Testnet
Go to testnet.quasar.fi and connect your Keplr wallet. Switch the network to Quasar Testnet.
- Claim Testnet Tokens from Faucet
You can claim $QSR, $OSMO, and $AYY test tokens at stakely.io/en/faucet/quasar-testnet.
- Bond Testnet Tokens to the Orion Vault
Once you have your test tokens, click on “Explore Vault”. Then, bond your assets and approve the deposit.
This action locks your tokens within the Vault, and you’ll receive proportional shares as CW-20 tokens unique to that vault. Once your assets reach the Osmosis Testnet chain, they will be automatically distributed into yield-generating AMM pools. You can monitor the progress of the liquidity provider strategy through the vault data dashboard.
- Submit Bug Report
If you found any bug, submit your wallet address at the Quasar Testnet Form. They might send you some $ATOM if the bug report is new to them.
- Become a Validator on Questnet
You can also join the Quasar Testnet as a validator if you already have Quasar binary running and your node is fully synced. Visit their guide for more details.
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Quasar confirmed it will airdrop $QSR to testnet users.
Airdropped Token Allocation: They have not disclosed their tokenomics yet.
Airdrop Difficulty: The tasks are very easy to complete. Simply connect your Keplr wallet and bond your testnet tokens to the Orion Vault.
Token Utility: $QSR will be utilized for proof-of-stake security through the Tendermint Consensus Algorithm while enabling full self-governance, allowing the community DAO authority to steer vault strategies and treasury management.
Token Lockup: TBD