The guide shares details about the new Lq Token to help investors make the right investment decision.
Protocol incentives and community alignment are the two complex topics discussed in the crypto marketplace. The new protocol’s development team has put all their efforts into researching the available tradeoffs across different DAO bootstrapping models and governance methods. They created a new protocol called Liqwid or LQ Protocol.
Liqwid is the revolutionary open-source, decentralized finance protocol launched on the Cardano blockchain. It aims to create Liquidity Pools with special algorithmically set interest rates calculated based on borrower demands and lender supply of the asset.
Investors in the United States are attracted to this lending and borrowing platform and the native token called Lq Token.
What is Liqwid or LQ?
Liqwid is the interest rate curving decentralized finance liquidity pool built on the Cardano ecosystem. It focuses on developing the Defi marketplace for borrowers and lenders to smoothly interact via supplying assets funds, minting interest-bearing tokens, participating in governance, and borrowing assets.
It is the non-custodial, open-source liquidity protocol designed to help investors yield on borrowing and depositing assets. It has a governance token called LQ used to vote on proposals made by the development team or the fellow token holders.
The Lq Token gives the power to stake their voting power to other token holders and pool their powers. The token is getting quite popular amongst the borrowers and lenders in the United States.
Founders of Liqwid
According to the official website, the founder and co-founders of the platform are Dewayne Cameron and Joshua Akpan, Tashoma Vilini, and Florian Volery, respectively. The tech lead of the platform is Holger Hartstock, and Emily Martins serves as the core developer of the platform.
Cardano Ecosystem promotes the token, and the platform is active on different social media channels.
What are the Market Statistics of Lq Token?
After evaluating, we found that the token is available for minting on the Cardano platform. However, the live price and value of the token are not confirmed on any platform.
There is no data available about the token’s market capitalization and fully diluted market capitalization. Therefore, the market ranking of the token can’t be shared now.
The token’s total supply is 21 000 000 LQ, and there is no data on the maximum circulating supply of Lq Token. So, investors have to wait until it is fully available for public trading on major exchanges.
How to Buy Lq?
The token is only available for minting on the Cardano platform. So, investors have to visit the Cardano exchange to stake the token:
- Launch the Cardano Token Tool and search for the token
- Use the contract address da8c30857834c6ae7203935b89278c532b3995245295456f993e1d24 to check the mint and transaction history
- Enter the number of tokens you want to buy
- Use the supported currency to buy Lq Token
- Secure it in your account and use it for voting and other purposes on Liqwid
FAQs
Q1. What is the Official Link of Lq?
A1. If you want to gather more details about the token, you have to visit the official website https://www.liqwid.finance/.
Q2. What is the Contract Address of LQ?
A2. The contract address investors have to use to mint LQ is da8c30857834c6ae7203935b89278c532b3995245295456f993e1d24.
Q3. When Did Liqwid Platform Launch?
A3. The Liqwid platform was launched in 2021.
Conclusion
Borrowers and lenders can respite now as there is a fully transparent platform launched where they can carry out the transaction and yield returns. Liqwid is the platform for borrowing and lending assets with low-interest rates. Lq Token is used as the native governance token of the platform that allows investors to vote.
If you are interested in investing in the token, you need to mint it on the Cardano platform. But, ensure to read the helpful tips on What You Must Know Before Investing in Cryptocurrency.
Do you have anything to share about the token? Please, share it in the comment section.