Citadel.one Overview: Quasar
The bear market is a great time for new technologies to come into the crypto space. And on the other hand, it is the right time to explore new and valuable projects that are growing and building despite a bearish period. One of the projects that is worth to research is Quasar.
In this piece, we will tell you all you need to know about this decentralized appchain, which enables secure, accessible, and easy Interchain asset management.
What is Quasar?
Quasar is a Cosmos-based DeFi protocol and decentralized appchain enabling Interchain asset management and striving to become the premier yield aggregator across all of IBC.
To achieve these goals Quasar offers users a transparent, secure, and user-friendly platform to build general-purpose asset management containers (vaults) that can be customized to suit a wide range of goals.
What are vaults?
The core element of Quasar architecture is vaults. Vaults are smart contracts that act as digital containers that can hold a variety of crypto assets. In other words, vaults are bookkeeping mechanisms facilitating interchain digital asset management. These containers are created by an individual or a group of individuals designated as the administrators. It is they who select strategies to determine how assets within the vault are deployed. Strategies are adaptable, upgradeable, and composable, having the ability to communicate with vaults.
Learn more about the vault-strategy model here.
What is the user role?
In addition to being able to act as an administrator, responsible for vault management, users can also act as strategists and create strategies for the vaults, or participate as a liquidity provider. LPs are entitled to participate in vault-level governance.
What is the utility of QSR token?
The QSR token is used as:
- Support for Quasar’s PoS consensus
- Payment of transaction fees on the Quasar chain
- Vault creation (Vault creators must stake $QSR to instantiate a new vault)
- Chain-level governance
- Q-Treasury governance
How can I find vaults?
Just visit app.quasar.fi. At the moment there are 10 vaults available for users (8 of them in the beta testing).
