We chose Qawalla because it fit perfectly with our company tag of Quality Software and of course a mix alongside our mascot the koala bear. It was really not a tough choice though, it kind of just came to mind and the team ran with it.
MaticNews x Qawalla AMA Recap and Transcript
MaticNews: Let’s start with your and your team's introduction! What are your past experiences and roles? How many members currently work on QWLA.IO ?
Qawalla: Hi everyone! I am Alex B, founder of Qawalla and we would like to start off by thanking MaticNews and the community for hosting this AMA! I was born and raised in the beautiful Pacific Northwest in the USA. I have been working as a software engineer for 15+ years, started working on the ethereum network 5+ years ago and in the past year we have been slowly migrating over to the Polygon network! The $QWLA team is currently 6 members located all over the world! From the USA, Europe, Canada and India!
MaticNews: Out of curiosity, why did you choose this name? Is there any backup story?
Qawalla: We chose Qawalla because it fit perfectly with our company tag of Quality Software and of course a mix alongside our mascot the koala bear. It was really not a tough choice though, it kind of just came to mind and the team ran with it. Designer already had a logo in mind and within two or three hours everyone loved it!
MaticNews: What is Qawalla, please give us a brief introduction!
Qawalla: Qawalla is a Decentralized ETF or ETFT (Exchange Traded Fund Token). We are taking a successful traditional market vehicle the Exchange Traded Fund or ETF and moving to decentralized networks! Exchange Traded Fund Token (ETFT) will offer lower operating costs than traditional open-end funds, flexible control, greater transparency, and better cost efficiency in wallets / accounts. Traditional market funds have offered many advantages over building a portfolio one asset at a time. QWLA sees the same potential benefits in Blockchain, Crypto, and Decentralized markets. The main utilities for the $QWLA token are Governance, Stake(less) rewards and Fee less swapping.
MaticNews: On which chains is QWLA currently available? Are there any plans to expand in new ones?
Qawalla: $QWLA was originally deployed on the Ethereum network. The ability to utilize smart contracts and build on a growing network was very intriguing to us. Once Polygon was fully up and running with a growing network we worked alongside the Polygon team to make sure we became a “Cross-Chain” asset. At this time we only plan to be available on Ethereum and Polygon.
MaticNews: Starting from your core, which are the use-cases of your native token?
Qawalla: The $QWLA token core is really built off of community. We allow holders to not only vote on what assets are in the fund, but we allow them to control all proposals.
Here are the main utilities 3:
1 - Governance - all asset proposals and voting will be done only by $QWLA holders
2 - Staking(less) Rewards - As the assets in the fund generate APR rewards those are shared with holders
3 - Fund Swap ( fee less swapping ) - Swap $QWLA token with assets in the fund for NO fees
MaticNews: Would you like to explain your Voting Model to us?
Qawalla: Governance for the $QWLA Fund is fully managed by the holders. To propose a vote for the $QWLA fund a holder initiates that through our proposal portal. Once a proposal is made, the community will have 7 days to research and vote on said proposal. If and only if a proposal has community approval will assets be added to the fund.
MaticNews: Furthermore, would you like to tell us more about your staking functioning? I think it is a key point in your ecosystem!
Qawalla: Yes! Staking is or was, one of the biggest utilities of our token! And we’ve recently moved to a Stakeless reward system. In the past, our design was to have holders stake $QWLA tokens to earn rewards from the fund. We are now adding quarterly snapshots and automatic airdrops. This allows for $QWLA holders to always have access to their assets if they need liquidity. This was one of the most requested features during testing.
MaticNews: Do you guarantee anonimity?
Qawalla: Yes full anonymity - Qawalla team / project will never collect any personal data. We fully believe in the transparency the blockchain brings but we have no reason to hold / collect personal details. Please note: we have no control over exchanges and their KYC policies.
MaticNews: Next is tokenomics! Which is yours and why did you choose it?
Qawalla: Ah yes, the tokenomics! Our tokenomics are quite standard, we chose a limited Supply ( 100,000,000 QWLA ).. We have no plan for schedule to burn tokes. We do have a Bridge for cross chain access to Polygon. The total supply of QWLA tokens will never reach above 100,000,000.
MaticNews: Besides this, how is revenue being generated for the project itself that could be used on future development?
Qawalla: This is a great question! And one of the best parts of a community fund. We hold tokens that generate returns ( 3%-9%APR ) that are returned back into the fund / helping generate revenue growth. These APR rewards are split between the Fund, Holders and Team for future development.
MaticNews: Talking about the security side, the clichè question that we ask in all AMAs: Are there any audits or KYC planned?
Qawalla: Audits of funds wallets are going on as we speak! Certik is taking a look at our Smart Contracts as well as the Wallets which hold funds. We have no plans to KYC at this time. Please note: we have no control over exchanges and their KYC policies.
MaticNews: Which is the marketing plan to attract more investors in the future?
Qawalla: The near term marketing will be full of fund info and the Alpha release of our DApp. As soon as audits are completed we will finally be able to release numbers against the current market. Something we have seen so far and are waiting for that to be verified via audits is, Although the market is down as a whole, the losses $QWLA fund experienced are not as drastic as if you were just holding ETH or BTC alone. This is great data for us to provide in future marketing campaigns.
MaticNews: Talking about the future, do you have a road map or long-term plans that you can share with us?
Qawalla: Long term road map is another exciting area for us. $QWLA wants to be a decentralized finance platform providing Governance Smart Contracts and transparent Explorer tools for the next generation of Exchange Traded Funds. Qawalla uses the power of smart contracts and the transparency of the blockchain to provide a unique set of tools that benefit traditional market ETFs migrating to decentralized markets. We would love to see more ETFTs on the market moving away from traditional market limitations.
MaticNews: And the last question will regarding your opinion: What do you think about the current market moment?
Qawalla: This is a tough one and of course anything we say here is not financial advice… But taking a step back and looking at the world markets, they are all moving in the same direction. I think we had unexpected hyper growth and this is a correction from that. The long run we have a bright future but the near term will be turbulent for sure.
MaticNews: Thank you for the great answers! Hope to see eachother in the future.
Qawalla: Thank you too for hosting this great AMA!
Jun 13, 2022