Introducing QEarn: Locking Coins for Yield

A Community-Driven Initiative

Welcome to Day 3 of 4 Days of X!

This week, we officially unveiled 'Project X', a huge enhancement for the Qubic ecosystem and a revolutionary initiative set to take it to the next level.

We also introduced two of the four elements of Project X, the new emission model and the CCF (Computor Controlled Fund), and it’s now time to reveal the next initiative that aims to utilise the new protocol extension: QEarn.

What is QEarn?

QEarn is designed to lower the circulating supply of QUBIC significantly by offering users attractive yields in exchange for locking their coins for extended periods, creating a deflationary impact. 

This initiative motivates participants to lock substantial amounts of QUBIC and enforces penalties for early withdrawals, which not only reduces the immediate supply but also burns a percentage of the coins, further decreasing the total supply. 

This reduction in supply, combined with the potential increase in demand driven by the appealing yields, is anticipated to create upward pressure on QUBIC price over time. 

This innovation is a testament to the power of community-driven projects and the potential of the Qubic ecosystem.

How QEarn Works

Each week, a percentage of the weekly emissions—for example, 10% or 100 billion QUBIC—will be allocated to a staking rewards pool. 

These rewards will be distributed among participants who lock their QUBIC for staking. 

The distribution is proportional, ensuring that stakers receive a fair share based on their contribution during the epoch in which their QUBIC is locked.

Maximising Rewards

To earn the full reward, participants must lock their QUBIC for a 52-week period. This commitment is designed to encourage long-term engagement and stability within the ecosystem. 

For stakers who choose to unlock early, their rewards will be reduced. The remaining rewards from early unlocks will be split, with a percentage being burned to support Qubic’s deflationary model and a percentage redistributed among the remaining stakers.

Get Involved and Stay Informed

This initiative represents a significant step forward for the Qubic community, providing an opportunity for participants to not only earn yield but to also play a key role in the growth and development of the network. We are excited to see how the community embraces QEarn and look forward to its development.

More detailed information, including the high-level concept and technical specifics, provided by the team can be found here. 

Look out for more updates as QEarn progresses. 

This initiative also showcases the effective use of the Qubic Grants Program, which supports innovative projects driven by the community, such as QEarn..

Join the Movement: If you're interested in participating or simply want to learn more, visit our Qubic Grants Program page and get involved today!

Next Steps for QEarn

As this is a community-driven project, to date, we can only outline a potential path to QEarn’s success. Stay tuned for a detailed roadmap and other updates, which the project team will release soon.

• Grant application

• Blog post from the team detailing the final concept including a deep dive into the model

• Community discussion on funding rate

• Smart contract development

• IPO and launch

The QEarn team is eager to deliver this initiative to the community as soon as possible. If you'd like to support, feel free to contact @MrUnhappyX in the Qubic Discord.

Disclaimer: QEarn is a community-driven initiative and operates independently of Qubic Core and the Steering Committee (SteCo). It reflects the efforts and ideas of the community. QEarn does not guarantee any specific returns or yields on investments. The information provided does not constitute financial advice, and participation involves risk. Always do your own research before making any financial decisions.

4 Days of X: What’s Next?

It’s the final day of 4 Days of X tomorrow! We'll be introducing the last element of Project X, which underpins to it all: the protocol extension.

Important Dates for Project X

• August 4th: Introducing the protocol extension

• August 8th: Testing of core extension

• August 8th: Blog post detailing the technical concepts of emissions and max cap

• August 12th: Blog post on CCF outlining how we support ecosystem growth

• September 18th: Emission model smart contract launch

• September 25th: First emissions to be received by CCF

• September 25th: First emissions reduction

Don’t forget to join the discussion in our Discord. We are excited to be on this journey with you.

‘Project X: a collaboration among Qubic stakeholders and an innovative emissions model to create a balanced and thriving ecosystem’.