QUIC Finance

Like Bao but quicker

Warning: Quic Finance is in alpha, it is unaudited and is expanding on the work of the thebaoman a one-person self-taught team. While QUIC is being developed by a senior software engineer, with decades of experience, he is still new to the ethereum space. As thebaoman has said, please understand the risks and use this product accordingly.

Why create QUIC Finance?

I really like Bao finance, but the problem is that only paying out 5% and having the rest paid out over 3 years is too long to even make back the fee's for staking LP tokens with Bao.

Secondly, Bao has no plans to support NFT LP tokens at this time. UniSwap v3 NFT LP tokens are coming and soon.

I felt we could do better faster, with QUIC the idea is payout 15% immediately and the rest over a 2 year period daily after the 6 month lock period.

What	When	Block Number
Launch	May 15th 2021	12440760
End of 6 month lock / Start Daily Funds Release	Nov 15th 2021	13636070
End of daily unlocks	Nov 15th 2023

Lower Deposit Fee's / Lower withdraw fee's

The deposit fee is being reduced to .5% from Bao finance's .75%

The withdraw fee drops to 0% after 4 weeks, compared to Bao's 1% after 4 weeks

Launch Date

May 15th 2021

The Quic Vision of Finance

Traditional finance doesn’t work. Not for most people. It works for wealthy suits. It’s great for them. They own the data. They own the marketplace. And if things don’t go their way they change the rules of the game. Many people think the answer to fixing this system is simple. Just put it all on DeFi. But in reality that doesn’t work by itself. The projects that have been successful in DeFi are the ones that do things that did not exist in old finance. Compound, Uniswap, Balancer are good examples. They all do things in a new way.

Why does this happen? It all comes to data. Most people aren’t aware that financial data is what makes institutions so powerful and why you can’t do what they do. This is why synthetics will matter.

But why does that matter? If you can get liquidity in any discrete quantifiable event then what have you created? The world’s most accurate financial data system.

Financial data is used within insurance, lending, hedge funds, risk mitigation, banking, yield, mortgages, credit scores, etc.

Incentivized synthetics allow you to start building an open financial data market. Once you have synthetics, you own the financial data stream to anything because you can incentivize liquidity to make it more accurate. With this financial data stream you can start any DeFi business you want on top of it, or package and sell the data for others to build on. You become the foundation for the future of finance.

Implementation

Quic Finance is like a combination of Bao and MIST but use LP tokens for collateral.

Rather than re-invent the wheel, Quic will create new features for existing DeFi protocols.

The QUIC token acts as a governance token for the fully community run project. It is also backed by the insurance fund where all Quic fees go.