The primary focus of Qredo’s new tokenomics is to offer advanced token utility, create powerful economic incentives for token holders and builders, and bolster the overall security of the network in preparation for upcoming decentralization initiatives that will introduce external validators, protocol fees, and enhanced QRDO staking solutions to the Qredo network.

By working closely with the CryptoEconLab team, Qredo will leverage its blockchain research and development expertise to finalize designing and implementing a robust token economy that aligns with the network’s decentralized vision.

Some features that we are considering for the revised tokenomics framework include staking pools to enable network governance where staking users receive interest payments and validators earn a commission from public goods funds, network fees, and service fees, as well as airdrop programs where users will be able to earn rewards by reaching network usage milestones.

“We know there has been great anticipation from the Qredo community around this revised tokenomics framework, and we are pleased to report that it is complete. The CryptoEconLab team at Protocol Labs’ experience with computer science, economics, and game theory analysis in the crypto space is second to none. Having them stress test our tokenomics framework before official release will be instrumental in refining and validating our work in service of all Qredo ecosystem participants.” – Josh Goodbody, COO of Qredo

“We are thrilled to collaborate with the Qredo team and to support their ecosystem. We are contributing our expertise to help Qredo align its current tokenomics with the long-term vision of a truly decentralized custody network. This includes modeling and tuning the main tokenomic parameters and assessing some key mechanisms such as stakeholder roles, token utility, the staking model, and the fee model to ensure the stability and resilience of Qredo Network. We admire Qredo’s dedication to cultivating a strong and sustainable community and hope this partnership contributes to their mission.”— Maria Silva, Senior Researcher at CryptoEconLab

ABOUT Qredo

Qredo is a leading provider of institutional-grade digital asset self-custody solutions. The company’s distributed multi-party computing (dMPC) technology provides users with a secure and regulated environment to store, transfer, and manage their digital assets.

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ABOUT CryptoEconLab

CryptoEconLab offers design, research, and modeling solutions to enable robust incentives and tokenomics. The team combines their economics, mechanism design, and modeling expertise with crypto-native primitives at scale. With global representation across the Americas, EMEA, and APAC.

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The post Qredo Partners With CryptoEconLab appeared first on Smart Liquidity Research.

Qredo’s integration with WalletConnect v1.0 supports any EVM-compatible chain, unlocking access to almost the entire world of DeFi and NFTs.

Connect by simply scanning a QR code

No need for insecure browser plugins, clunky APIs, or additional software. Simply scan a QR code to establish a secure connection between the crypto wallet and dApp.

Secure signing activity with decentralized MPC

Transactions are signed through your own custom governance secured by decentralized multi-party computation (MPC) — removing the risk of private key theft or loss

“Qredo’s WalletConnect integration offers a complete DeFi and NFT package for individual traders and organizations — from DAOs to crypto funds and growing investment teams. All of these players can benefit from tapping into trading, lending, and crypto staking strategies from the most secure form of custody available.” — Qredo COO Josh Goodbody

How to use WalletConnect with Qredo

WalletConnect is currently only available to organizations, but anyone can create an organization. Once you have an organization, you will need to create your WalletConnect wallet.

From there, simply navigate to your chosen dApp, connect with a QR code, and deploy assets directly from Qredo by following these simple steps:

• Open a Qredo account and download the Signing App.
  Available for Android and iOS.
• Open a DeFi app
  Navigate to the website of your chosen application.
• Open WalletConnect in Qredo
  Open your Qredo Wallet, and go to WalletConnect.
• Scan the QR code to connect
  Click the dApp’s WalletConnect button and scan to connect. The dApp can then send transaction requests to your Qredo Wallet for you to manually approve.
• Deploy assets
  Execute your DeFi strategy directly from your Qredo Wallet, secured by your very own custom governance and approval policies

ABOUT Qredo

Qredo works at the cutting edge of cybersecurity and blockchain. It uses the latest innovations in cryptography and distributed ledger technology to deliver unique solutions for securing and trading digital assets.

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The post Qredo Integrates with WalletConnect appeared first on Smart Liquidity Research.

However, as the market has developed and more people have looked for ways to manage and transact their digital assets, more solutions have emerged to make that process easier.

In doing so, many users have, either by choice or inadvertently, sacrificed the fundamental control over their assets by leaving them under the stewardship of a third party. At the end of the day controls the keys to the assets.

Qredo is different. By using a unique implementation of decentralized multi-party computation, Qredo offers users a means of managing their keys and digital assets securely. It is without compromising on the sovereignty and control that is fundamental to the technology.

What is dMPC?

Multi-party computation (MPC) is a cryptographic tool that allows multiple parties to make calculations using their combined data, without revealing their individual input. Invented by Chinese computer scientist Andrew Yao, MPC works by using complex encryption to distribute computation between multiple parties.

MPC works by using complex encryption to distribute computation efforts between multiple parties.

From anonymizing buyers’ offers in Danish beet auctions to protecting sensitive medical information in large-scale trials, MPC has evolved into a favored encryption technique for crypto assets. Users seeking to protect their private keys.

By splitting the data across multiple nodes, the data is held in a more secure environment where no single stakeholder holds the keys to the system.

One of the major issues with crypto asset security remains that of private keys. If lost or compromised can open up assets to unknown third parties.

MPC instead uses Threshold Signature Schemes (TSS) to create and distribute independently held parts of a private key where no single person controls the private key.

Why dMPC?

Qredo takes the concept one step further by distributing the control of the nodes on the network, decentralizing the MPC computation, and ensuring that the sensitive key material is not under the control of any single entity.

Crypto is all about decentralization. With the promise that your coins will remain yours alone so long as you control the keys.

However, with most implementations of MPC ultimate control over your asset in the form of signing authority remains in the hands of a trusted third party. The custodian or exchange holding the coins is not much different from banks.

That’s why Qredo developed the concept of decentralized MPC (dMPC). Offer crypto asset owners a truly independent and secure network. Assets can be held and traded without sacrificing the Satoshi Vision.

How does dMPC work?

Decentralized MPC solves the twin issues of private key management and asset control by creating multiple independent secrets which are distributed between MPC Nodes on a fast-finality blockchain.

The information is keep in top-tier data centers in six financial hubs around the world. Each node independently generates its own secret key information. The encryption is combined with Qredo’s Layer 2 blockchain, which facilitates control of access and instant settlement between network participants.

With assets held by third parties such as exchanges, your assets can fall out of your control. For example, if the exchange falls into bankruptcy proceedings.

Qredo’s approach eliminates that risk while providing world-class security and interoperability with other blockchains. All without sacrificing the fundamental principles of crypto.

STAY TUNED WITH QREDO

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The post Introducing Qredo’s dMPC appeared first on Smart Liquidity Research.