What is Quail Finance?
Last updated
Last updated
Quail Finance is a SocialFi dApp that facilitates rotation of credit to group members based on social trust.
It is inspired from the group-based rotating saving and credit scheme called Chit Funds in India. Such practices exist in other parts of the world as well. Ex, as Hui in China, Paluwagan in Philippines, Stokvels in South Africa.
It is deployed on the Blast Blockchain. Quail Finance is one of the runner-ups in the Big Bang Competition in the SocialFi category and will be distributing 100% Blast Airdrops to users.
Because the rotation of credit offers the following benefits 1. Liquidity Woes - We are degens and liquidity is never enough for us. Rotation of funds in a closed circle can solve liquidity woes over time. 2. Saving Habits - Depositing in a pot is like saving and comes with Blast’s native yield. Depositing small amounts in several pots can be life-changing.
3. Increased Trust With Your Peers - Participating regularly in a pot in a disciplined way will increase trust in your closed circle. On top of it Crypto offers users access to global liquidity and opportunities for global collaborations. Quail Finance is a platform where users can leverage global liquidity using global collaborations.
Quail Finance is also a crypto application that is leveraging on the centuries-old concept of group-based rotation of credit.
SocialFi is a hot topic in web3 and crypto at the moment. What is a proper definition of a SocialFi app? Is friend.tech a socialfi app? Is lens protocol a socialfi app? Is farcaster a socailfi app? People understand things in their way so we’ll leave this for the users to decide. The answer is simple. Any crypto application that allows users to convert the social value into a monetary value is a socialfi. Is Quail Finance a socialfi app? We’ll also leave this for the users to decide.
