Thread by @2lambro

#14 @Quasar
#Cosmo based defi protocol that raised 5.4m at 70m valuation !? with tier 1 investors @shimacapital @polychain @blockchaincap @sunnya97 (@osmosiszone founder)

In this thread
1) TLDR - What is Quasar
2) How does Quasar work
3) Opportunities & Challenges
4) Summary

First off, as a big #cosmo fan, I am quite excited on a team with resources building with cosmo sdk & IBC

TLDR
Quasar allows users to launch vaults with DeFi strategies with IBC enabled protocol permissionlessly.

How does it work
It is an early protocol and most of the gitbook is not not finished yet. From it seems like

There are different roles within the ecosystem
-Vault Creators
-Strategist
-Liquidity Providers

I’d imagine
“Strategist” will design & propose different strategy
“Vault Creators” will implement these strategy
“Liquidity Providers” will be the users depositing into these vaults (strategy)

Here's a capital flow map from the team.

Users can deposit into qBANK then choose which strategy they want to deposit into.

Some will be a fee charged and funnel into “Quasar Treasury”

Why is it exciting? Cosmo SDK & IBC

There are lots of chains are actually built via cosmo SDK and IBC is a standard communication that allows tokens within the cosmo ecosystem to transfer frictionlessly. In short it makes all the cosmo ecosystem token flow easily.

Opportunities

First notable strategy based protocol within cosmo ecosystem
(tag me if i miss any other)

All #Cosmo ecosystem chains are POS, even just auto-compounding will be useful to a lot of users.

Challenges
- Currently there are low #DeFi activity on cosmo chains
- Boost strapping a community that contributes different strategy

Summary
As a #cosmo & application thesis fanboy I am excited seeing cosmo protocols getting funded during the bear. Special with a sizable investment from @shimacapital @polychain @blockchaincap @sunnya97 (@osmosiszone founder)

Personally im bullish on the cosmo thesis, however currently there aren’t that much DeFi activity on their right now, not enough trading and active borrow & lending. It will be interesting to see what strategies can be built on top of it.

I am not very up to date with cosmo ecosystem do correct me if i am wrong and tag me with any cool DeFi project in the cosmo ecosystem

Thank you for reading n joining my "new year new me" threadooooor journey

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