The Quiver Protocol Introduction

quiverprotocol (29)in #quiver • 3 years ago (edited)

We have seen an exponential increase of cryptocurrency adoption this year as the cryptocurrency market experienced a massive bull run, thus reaching a market capitalization of three Trillion USD in the first quarter of 2021.

Because of the massive explosion of market capitalization, a lot of people just jumped into the wagon hoping to benefit on the ride and investing blindly without proper research of the project they are joining, thus leading to their loss of investments.

The leading problem of their investment losses is their lack of information and a place to get secured information about certain projects.

Their fear of missing out (FOMO) has led to more losses than gains.

If only there is a place to get research data, discuss crypto and create a good investment portfolio, and be rewarded for your loyalty?

INTRODUCING THE QUIVER PROTOCOL

Quiver is a community-driven information provider protocol focusing on investment. Our goal is to build an investment protocol by providing qualified information to investors in real-time by building a Decentralized Information Collector Protocol (DICP).

Protocols are crucial components of Blockchain technologies that enable information to be shared automatically across cryptocurrency networks securely and reliably.

MISSION

The community’s mission is to provide an all-in-one solution for investment. The main focus is to provide qualified information to investors in time by building up a decentralized information collector protocol (DICP).

Quiver sets out to build the most secure and scalable investment mining system using professional investors and analysts to create a market for investment data.

VISION

Quiver’s goal is to build a unique, scalable, and secure investment protocol based on community collaboration and performance metrics for long term investments. Merging the power of global investment audiences, Quiver is building a protocol for collaboration that reduces the burden of research and frees up more time for execution.

SERVICES OFFERED

Based on qualified DICP, the community will build several services to benefit community members.

DAO driven hedge funds — Quiver will be investing on projects at its initial stage, before it goes public, and projects that are in the early stage even though it’s public.
Expert crypto analysis group — the group that analyzes all the information provided by users and makes final reports for the community. This collaboration with the expert crypto analysis group the burden of research will be drastically reduced giving more time to investment execution.
Development team that implements the new idea provided by community members that innovate the crypto ecosystem, thus increasing the foundation driven development services, to build better protocol.
Quiver lending and borrowing — This service is an additional service for high reputation users. It is going to happen after protocol starts making profits from information collector protocol.

THE QUIVER PROTOCOL

Through Quiver’s market for investment data, self-investors or small groups of investors who run on Quiver Protocol can purchase information of different investment categories.

The first version of the DICP will be implemented peer-to-peer where data providers list their research on contract using an encryption key as an NFT. The encryption key will then be provided to data purchasers off-chain by a verifier.

The quality and value of information can then be assessed, and a reputation score developed depending on data purchaser votes, with reputation change history stored on-chain.

Rewards are generated from the protocol fees paid by data purchasers and the data providers who wish to offer information to the network. These rewards are then distributed each epoch between QREP governance token holders, operations, and treasury funds.

It’s managed by a community governance system where all members can write protocol improvement proposals which can then be accepted via the DAO voting process.

The community is open to those who wants to benefit for the community which will mainly consists of:

Investors
Product owners
Developers
Learners
Information providers
Traders
idea providers

Quiver investment protocol is an ecosystem of investors, builders, traders to socialize and maximize their earning potential. The more value one provides to the ecosystem and the longer they stay on the platform, the more they can grow their reputation.

Quiver’s Decentralized Information Collector Protocol (DICP) will have two different token types: the QREP token and the QSTK Token.

QREP Token

QREP is a reputation token for protocol management.
It is not transferable
It can only be minted or burned from a specific user by the governance-controlled proof-of-reputation mechanism.
QREP token ownership describes the reputation of the owner and therefore the share of Quiver protocol rewards.
QREP will also be used as collateral for participants with a sufficient reputation score to borrow stable coins, approved by governance.

QSTK Token

The Quiver Investment DAO (IDAO) runs on top of the Quiver protocol and utilizes the QSTK token that users can purchase to co-invest with the IDAO.

QSTK token ownership, describes the share of Quiver IDAO rewards and Quiver Protocol rewards.
QSTK can be purchased from a DEX or minted by providing USDT into the QInvestor contract.
QSTK token price will be managed in two places — market price that’s driven by DEX and contract price driven by contract.

QSTK token holders will be able to withdraw their investment at any time in one of two ways.

Sell QSTK token on Dex in fair price — QSTK token price is tracked fairly on Dex based on performance
Provide QSTK token to QInvestor contract and get the in-progress investment tokens.

Use cases of QSTK token

discount token for information purchase
protocol rewards token
governance token for funds management

COMMUNITY GOVERNANCE

Community governance is built within Quiver to ensure the decentralized control of the protocol and the services it provides. Protocol governance is managed via the reputation token, QREP, which measures contributions to the protocol

There are 2 Governance system running in the protocol:

Protocol governance is done by reputation token, which describes how much each person contributed to the protocol through profit sharing amongst members.
Service governance is done by its own governance token or if service is a single person, he/she can make self-decision.

SECURITY

Protocol security on Quiver is information security. Data provided is secured and only visible to verifiers with a sufficient reputation threshold.

If a verifier provides data to any user other than a purchaser, they lose their full reputation and the ability to earn rewards. Conversely, data providers put up QREP and USDT as collateral. If the information they provide is correct, they gain more QREP and USDT. If incorrect, they will lose their collateral.

We are still in our initial stage of development. We will be sharing updates and project developments as we go along.
For more information you can read our Whitepaper_Draft_-_04052021