In a blog post published on 12 July the company behind PancakeBunny, Bunny Finance, announced the launch of a new lending and borrowing protocol on Binance Smart Chain (BSC). Qubit will have zero withdrawal fees to reduce the cost of lending and borrowing for retail users. A zero-fee structure will also enable PancakeBunny and other BSC yield aggregators to employ leveraged strategies to maximize returns on single asset deposits.
The newly-launched protocol will support vertical integration of code review for PancakeBunny and other farming platforms to enhance the security of the BSC ecosystem. Vertical code review will also enable the protocol to avoid the destabilizing impact Layer 1 migrations might have on Layer 2 services. Once fully launched, the team behind Qubit will introduce derivative products such as margin trading and leverage tokens to the platform.
The total supply of QBT will be 1 billion tokens, equivalent to a $50 million market cap at the initial pre-launch liquidity price. At launch Qubit, will support USDT, BUSD, USDC, and DAI stablecoins, as well as ETH, BTC, BNB, CAKE, and QBT. In the coming months, Qubit will expand to different blockchains to further strengthen both the platform and the wider PancakeBunny ecosystem.
The Qubit Pre-Launch Liquidity Event will provide liquidity for QBT ahead of the launch and is scheduled to take place between 14 July and 19 July.