Quantum Protocol Kenya
Quantum is a financial protocol aiming to increase financial inclusion, participation, easy user onboarding to the world of web3.
Created on 7th October 2024
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Quantum Protocol Kenya
Quantum is a financial protocol aiming to increase financial inclusion, participation, easy user onboarding to the world of web3.
Why are you participating for Based Africa?
We are participating in the Based Africa to showcase and champion adoption of web3 ecosystems in driving financial inclusion and participation. Based Africa gives us an opportunity to align Quantums mission to build financial tools for Africans including but not limited to cross chain messaging and cross chain transfers, asset bridging, lending, staking, web3 domains and more. Funding through Based Africa participation is also important as it ensures we continue building our products with Base as partners. Quantum protocol leverages underlying Base infrastructure in moving liquidity from other ecosystems to the Base ecosystem.
What challenges are you focusing on?
Africa's financial ecosystem, in web3 as well, needs a boost in accessing liquidity. Quantum Protocol aims to channel liquidity from other blockchain ecosystems to Africa's most used web3 ecosystem, Base. In Africa, many users acquire loans from friends or their peer groups (chamas, saccos). To expand liquidity access on this front, trustless, decentralized p2p lending is essential. This will enable users to access instant loans at cheap lending rates.
How does your submission address this challenge?
We are focused on helping users bridge their assets to Base while also enabling users to access crypto loans. Our submission, Quantum Protocol will channel liquidity to the Base ecosystem by enabling users all around the world bridge assets to Base. To champion P2P lending, any user can supply liquidity to Quantum's supply market and earn yields. Cross chain transfers and cross chain swaps are now possible thanks to Quantum's infrastructure, massively improving transactions in the ecosystem. This enables users, but also other dapps to utilize these features for easy onboarding to the Base ecosystem. Quantums faucet feature will enable developers get test environment to build on Base. To improve UX and onchain identity, users will be able to access Web3 domains such as Base names. Crypto lending will enable users all around the globe utilize Base features and access to liquidity.
Challenges we ran into
Customizing wagmi providers and OnchainKit was a litle challenging but we did find a way through the OnchainKit docs. Deciding to exclusively use onchainkit was a big step in the right direction as well. Onchain kit was something new to our team but we're learning as we build as well. A trait that we've nurtured in our team.
Additional Features
We submitted our project at the EthSafari hackathon in which we emerged as winners. We don't stop here as we aim to build our project for the long term. New features we're adding are on p2p lending and staking. Our users will be able to give and acquire crypto loans easily through our dapp. Last but not least, we added OnchainKit, an easier way to onboard users. Our new Faucet feature will in turn help developers access an intuitive test environment. Our improved bridge feature will channel liquidity to Base.
Technologies used
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.