QEarn Update: Nearly 11% of Circulating Supply Locked

With over $39.6M in TVL and nearly 11% of circulating supply locked, QEarn has quickly established itself as an important part of the Qubic ecosystem. Launched on 4th December, 2024, this community-led initiative has seen strong adoption, driven by its accessible locking mechanism and rewards structure. These achievements demonstrate the protocol’s role in cultivating active participation and long-term commitment within the community.

How QEarn Works

QEarn offers a simple proposition: users lock QUBIC coins for a chosen duration and can earn rewards based on their commitment. The longer the lock, the higher the potential APY, with the maximum rewards reserved for those committing to the full 52-week period.

Reward Distribution:

Rewards are allocated upon unlocking:

• Early Unlocks: Rewards are adjusted based on how long the coins were locked and are distributed immediately upon unlocking.

• Full 52-Week Lock: Rewards are distributed in full at the end of the locking period, providing maximum APY.

Early Unlocks Boost Other Participants: Early unlocks come with an ecosystem-wide benefit: they boost the yields of other participants within the same locking round (epoch). This mechanism incentivises long-term holding while ensuring that early exits still contribute positively to the broader QEarn community.

Flexibility: Participants can withdraw early without penalties. When an early unlock occurs, unearned rewards are split as follows:

• A portion is returned to the unlocking user.

• A portion is burned, reducing the overall supply of QUBIC.

• The remaining portion is redistributed to other participants.

Participation by the Numbers

Since launch, QEarn has demonstrated strong community engagement:

• Initial Success: Within the first 24 hours, over 5.25T QUBIC - valued at $25M - was locked. This rapid adoption placed Qubic among the top 50 blockchains by Total Value Locked (TVL).

• Current Metrics:

  • TVL: $39.6M.

  • Locked Tokens: 12.49T QUBIC.

  • Percentage of Total Supply Locked: 9.8%.

  • Percentage of Circulating Supply Locked: 10.9%.

These figures demonstrate the community’s confidence in the protocol while highlighting its significant impact on reducing QUBIC’s circulating supply.

Supply Context

To understand QEarn’s influence, it’s helpful to examine the broader QUBIC supply:

• Circulating Supply: 114.6T QUBIC.

• Total Supply: 127.452T QUBIC.

• Maximum Supply: 200T QUBIC.

Access and Usability

QEarn is integrated into the Qubic web wallet, offering a straightforward interface for participants. Users can lock amounts ranging from 10M QUBIC to 1T QUBIC, catering to both small and large participants in the community.

While the web wallet serves as the primary platform, plans are underway to extend accessibility to mobile devices. A video guide is also available to ensure that participants can easily navigate the locking process.

Deflationary Contributions

QEarn incorporates a deflationary mechanism to support long-term sustainability. When participants withdraw early, a portion of their unearned rewards is burned, permanently reducing the overall supply of QUBIC. This approach aligns with Qubic’s goal of a sustainable and robust ecosystem.

Next Steps

The Qubic team is actively working to secure visibility for QEarn’s Total Value Locked on platforms like CoinMarketCap, which could attract further interest and participation. With over $39.6M locked, the QEarn protocol represents a significant milestone in the Qubic network’s evolution.

QEarn exemplifies the power of a community-led initiative. By offering a flexible yet impactful way to lock QUBIC, it encourages sustainable participation while fostering trust and engagement. As the protocol grows, its deflationary mechanisms and community-driven approach continue to help shape the Qubic ecosystem.

If you'd like to ask questions or 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. Participants are encouraged to review and understand the associated risks, and engage responsibly. Always do your own research before making any financial decisions.