qLQDR Launches and xLQDR Migration Begins

Liquid Driver
3 min readDec 8, 2023

Ever sinceMultichain’s downturn our team has diligently worked towards eliminating our reliance on it, simultaneously revamping our model to shift away from inflation-dependence towards generating stable yields. The efforts have been aimed toward developing innovative liquid products built upon DEXs leveraging the ve model.

As of today, our live products acquired:

  • 28.79% of the total veTHE supply
  • 10.05% of the veRETRO supply

Moreover, LiquidDriver holds direct ve ownership (excluding wrappers) in key DEXs such as Ramses, THENA, RETRO and Velocimeter. This strategic positioning enables us to significantly reduce costs related to incentivizing and sustaining deep liquidity pools.

Tokenomics Overview

Weekly Net Expenditure on Bribes (inclusive of our ve positions):

Total Weekly Expenditure: 9,700 LQDR, amounting to an annualized 504,400 LQDR.

  • Projected Annual Inflation Rate based on current total supply: 5.3%-7%
  • Current Total LQDR Supply: 8,974,413.

Current State of Earnings (Approximate):

  • liveTHE wrapper: 50,000–65,000 liveTHE/week
  • liveRETRO wrapper: 12,000 liveRETRO/week
  • veTHE voting yields: $1800/week

ve-Holdings:

  • THENA: 2,093,091 veTHE (2.23% of the supply)
  • RAMSES: 5,939,000 veRAM (1.51%)
  • RETRO : 185,841 veRETRO (0.3%)
  • FVM: 160,300 veFVM (2.21%)

Through our treasury and our emissionless products, LiquidDriver is currently cash flow positive by a considerable margin, generating more revenue than what we spend in LQDR tokens.

Introducing qLQDR, Powered by Axelar

Transitioning from our previous model, which was heavily reliant on LQDR inflation, we are now excited to introduce a new revenue-sharing mechanism, qLQDR, facilitated by Axelar. This innovation caters to our multi-chain product offerings, ensuring efficient revenue distribution across various networks. Key features of qLQDR include:

  • Flexible Locking Options: Lock LQDR on your preferred chain, including Arbitrum, Fantom, Avalanche, BNB, and Optimism.
  • Multi-Chain Yield Claims: Retrieve yields from any available chain.
  • Mirror batching : We reduced qLQDR cross-chain mirroring by executing the mirroring for every deposit within an epoch. Once you minted qLQDR, you will have to wait for the next execution in order to see your qLQDR on any chains, it will be performed before epoch switch.
  • 12-Week Lock Period: Opt for a stable lock-in period without decay.
  • Early Withdrawal Option: Withdraw your locked LQDR early with a penalty fee. LQDR taken from the penalty fee will be burned.
  • Initial 50% early withdrawal fee for the first 3 months
  • Constant 25% fee thereafter
  • Expandability: Potential to include additional chains in the future.

With qLQDR, we’re reducing barriers to entry for holders looking to capture the revenue made by the protocol while still maintaining holders engaged over the long run.

Only your active balance will be accounted for yield distribution. If your qLQDR is unlocked, you will need to relock in order to claim rewards.

Launch & Migration

A dedicated migration UI is now available for mxLQDR hodlers to claim their qLQDR, migration’s terms is 1:1 with your LQDR locked, if you had 1000 mx/xLQDR with a mirrored balance of 500, you will receive 1000 qLQDR. You will have to relock your old mxLQDR for 2 years to avoid double claiming LQDR.

First batch of rewards will be distributed on Thursday 14th on both Polygon and BNB Chain. They are streamed, instead of being claimable as a lump sum as was the case with mxLQDR.

Future Forward

With our migration finally completed, we look forward to focusing on bringing LQDR back to the masses.

Roadmap for early 2024:

  • Brand new UI
  • Upcoming liveSERIE product on a new L2
  • Boosted ve33 farms on top of RETRO
  • New analytics

Join us on this journey. Onwards and upwards, pirates.

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