Published Jan 1, 1970
By Qredo Team

Introducing PowerSwap

TL;DR

  • PowerSwap enables you to trade Qredo Tokens (QRDO) with stablecoins USD Coin (USDC).

  • Trades are conducted within the secure environment of Qredo, and assets remain protected at all times by dMPC and your own custom governance policies.

Qredo is excited to introduce PowerSwap; a new tool for trading Qredo Tokens (QRDO) with USD Coin (USDC).

PowerSwap enables trades to be conducted within Qredo Network — backed by your own governance and the unprecedented security of decentralized custody. 

This offers a superior trading experience for all QRDO buyers, whether you are taking an investment position, or seeking to benefit from discounts by purchasing Qredo products and services with the token.

Why PowerSwap?

  • Control over assets, at all times

    Instead of moving assets to an exchange and giving up control, PowerSwap them instantly from within your Qredo account. This way assets remain secured on Qredo Network under your governance policies at all times.

  • Guaranteed execution

    Making large trades on exchanges with shallow liquidity can create slippage, leading orders to be executed at less than favorable prices. When PowerSwapping on Qredo, the price you receive in your quote is guaranteed by the market maker. 

  • Reduced gas costs

    PowerSwaps are executed on Qredo Layer 2, avoiding the fees and delays of transacting on underlying blockchains.

PowerSwap stablecoins with QRDO in 4 simple steps

Follow these steps to access liquidity from within the security of your Qredo account:

  1. Enter the details of your proposed swap, including assets and quantities.

  2. Complete the custody approvals flow according to your governance policy.

  3. Receive a quote that is valid for five seconds.

  4. Accept the quote to execute the trade and receive the assets.

What's next? 

PowerSwap will play a critical role in the upcoming launch of Qredo Fees by enabling users to quickly buy QRDO to access a 15% discount.

In the bigger picture, PowerSwap is also an important step towards building Qredo Liquidity Hub. This sophisticated trading venue will incorporate more advanced functionality, including swaps across different blockchains — all from within the secure environment of Qredo decentralized custody.

Start PowerSwapping today by opening a Qredo Wallet.

Open a Qredo Wallet

FAQs

Who is the counterparty to the swap if everything is carried out on Qredo Network?

A market maker provides liquidity, and Qredo provides the infrastructure that makes this possible.

Will PowerSwap increase Qredo Token utility?

PowerSwap makes it easier to pay fees using QRDO, boosting utility and demand for the token.

Will PowerSwap offer more stablecoins? 

The number of trading pairs available will increase in future.

Are there  minimum and maximum transaction amounts?

  • Minimum transaction amount: $10

  • Maximum transaction amount: $5,000