Advanced Blockchain successfully spins out Quasar to begin cross-chain yield aggregation for IBC-Cosmos

Advanced Blockchain (AB) is proud to announce that Quasar, a cross-chain yield maximization platform for the IBC-Cosmos network of blockchains, has completed its incubation process, graduating from the AB ecosystem and now formally begins its journey as an independent DeFi protocol.

In addition to its function as an investor in the DeFi space, AB is a major incubator of DeFi protocols. It has built a robust team of engineers, product managers, designers, and marketers, and has accumulated domain expertise through tested experience building in DeFi. Its incubation arm leverages this depth to research, ideate, and identify problems in the space that can be solved through the creation of companies. AB actively recruits the best minds in the industry to lead the projects it develops internally. It also uses its capacity as an incubator to act as a value-added investor, and help external projects that it funds scale and go to market.

Quasar is a new app-chain built in the Cosmos Ecosystem, optimizing inter-chain value capture with human-centric design. Its mission is to provide sustainable, sovereign, and ergonomic investment vehicles for digital assets. Quasar’s flagship product will be yield-aggregating vaults that enable users to easily deposit Cosmos-based tokens, and passively earn yield generated from automated strategies. It will function like a decentralized, permissionless hedge fund. Its first strategies will be deployed on the Osmosis DEX, and the protocol will actively expand to other DeFi applications in the Cosmos ecosystem, and introduce more diverse integrations. Moving forward, further diversified vaults and community-contributed strategies will be supported through progressive vault-level governance mechanisms. This will create endless possibilities for innovation and the composition of designs for common and novel investment instruments, such as indexes, asset-backed derivatives, or decentralized funds.

Quasar was an internally developed project that was ideated by AB Project Lead Valentin Pletnev together with his team. After strong traction, AB recognized its unique long-term potential and all parties agreed to grow Quasar into a full-fledged company.

“Words cannot express how proud I am for how far we have come. Now, AB and the entire Quasar Team have set the rails for Quasar to grow into something that is bigger than any single one of us - a true gateway to democratized finance in the Cosmos Ecosystem. I can’t wait to keep leading this endeavor at Quasar Labs with newfound wings and help make this vision a reality.” - Valentin Pletnev

“We are excited about the future of Quasar, and the impact it will have. Quasar is the first venture Advanced Blockchain has spun out, and highlights AB’s significant interest in the IBC-Cosmos ecosystem. AB remains focused on solving critical challenges in the DeFi space that help advance ecosystems, align user financial incentives, and increase DeFi adoption. Quasar is a protocol that will help accomplish these objectives.” - Robin Davids

Quasar represents the strength of AB’s incubation arm. Quasar’s original core team was formed through AB’s human capital. AB then enabled Quasar’s further development, including augmenting the team with engineering depth, to scale into a full-fledged venture.

AB is able to both identify challenges within DeFi that need to be addressed, and help scale ventures that it funds. In addition to traditional funding, AB helps increase the speed and quality of product development through its qualified and experienced engineering, product management, and design staff. These resources expand incubated teams to scale their output and help them overcome engineering and development challenges. AB also leverages its ventures and marketing teams to help source funding, launch protocols, and take them to the DeFi market.

Quasar has completed its incubation process and AB believes that Quasar’s traction and brand best position it to stand as an independent venture. AB is in active conversation with the team in regards to opportunities for future collaboration.

AB will continue to operate at the frontier of DeFi, and push to lead innovation in the space through its capacity as a venture investor, and incubator.

To learn more about Quasar, visit quasar.fi and follow their Twitter and Discord.