Search

Industry

Diginex CEO Richard Byworth EQO AMA with Gem Collectors

April 27, 2021
Diginex CEO Richard Byworth, and the Head of Blockchain strategy, Kevin Ting, hosted an AMA about EQP on the Gem Collectors Telegram chat group.

Diginex CEO Richard Byworth, and the Head of Blockchain strategy, Kevin Ting, hosted an AMA on the Gem Collectors Telegram chat group.

Over 14,000 members are the Gem Collectors group, and the Diginex duo were asked some fascinating questions.

Read the full transcript of the AMA below.


***


Crypto_Thai:

Welcome Team EQUOS to the Gem Collector's!


@rb2323 - Richard Byworth, CEO @st01kos - Kelvin Ting


R B:

Hello!


Kelvin T:

Hi everyone! Thanks for joining our AMA!


Crypto_Thai:

How is everyone doing?


Let's start with this AMAzing session


Can you tell us about your Team and background?


R B:

Hi all, absolutely!


The Diginex team comes from a broad cross section of Fintech  technologists, crypto, and a large swathe of traditional investment banking (mainly in derivatives products)


My name is Richard Byworth and I am CEO, my whole career before starting the Diginex financial services firm was around trading and distribution of derivatives


Crypto_Thai:

Fintech and crypto. Best combination there is


R B:

Diginex is the bridge between traditional finance and the emerging crypto world, leading both into a new era of financeโ€”one that is safe, inclusive, and above all, innovative. Itโ€™s an ecosystem that delivers a full spectrum of digital asset financial services and products within a regulated environment to foster the mainstream adoption of digital assets.


Crypto_Thai:

May I ask how the team knows each other?


R B:

The founding team came from similar areas of traditional finance around derivatives, but over the course of the three years, we have been hiring from all of those different segments I mentioned.


We focus on high performance individuals with a dedication and passion for the industry


Kelvin why don't you say hi


Crypto_Thai:

Are there still spots open or is the current team more than enough for what Equos can handle?


R B:

We are always interested in speaking to highly driven, passionate and intelligent individuals


Crypto_Thai:

Always a good one


R B:

https://www.diginex.com/job-openings/


Kelvin T:

Hi all! Indeed, we are always looking for passionate people with market knowledge from both the traditional finance and crypto sides


We believe that there are a lot of potential opportunities between both worlds, and it is always good to be able to see both sides of the picture


Crypto_Thai:

In what way can a marketing person currently help the project?


To slowly dive into the project it self


Team looks pretty good so far!


Absolutely!


Kelvin T:

Thank you very much!


And we also look forward to growing our team, and to have our team grow with the industry


R B:

Marketing is key.


We have built something very special, but right now, not many people know about us


Marketing is about education


Crypto_Thai:

Youve been working a lot on the project and know it's time to position yourself?


R B:

right now institutions don't see many options for how they get involved in crypto


they need regulated, reputable, well governed organizations that can help them enter the asset class


this is what we have built in Diginex... our product suite is starting to take off


Kelvin T:

We do have the EQUOS ambassador program, where marketers can certaily assist the growth of our ecosystem. You can find more about it here:  https://equos.io/promotions/equos-ambassador-program/


If you're interested in our project and are passionate about crypto, we'd be very happy to hear from you!


Crypto_Thai:

The steps to get involved into crypto is sometimes a pain in the ass


For these institutions


R B:

certainly for conservative regulated institutions


retail have the edge in this asset class


Crypto_Thai:

And in what way can EQUOS help with this?


R B:

Well we operate out of one of the most reputable regulatory jurisdictions (Singapore) and our parent is listed on Nasdaq which comes with huge levels of governance requirements


All coins are checked for provenance on the platform so you cannot end up buying tainted or dark coins.  Security personnel from government agencies and platform pen tested by NCC Group, the same group that tests amazon and google.


Kelvin T:

Indeed, and on top of Richard's point on regulation, we also have a huge focus on transparency. To this end, whenever we design our products, we always aim to make the methodology associated with such products public so it is verifiable


Crypto_Thai:

Is this specific project helpful for every country?


R B:

we operate out of Singapore


but institutions from UK, switzerland, HK, and Germany are all users of our platform


Crypto_Thai:

And this will change soon to more countries


R B:

we have more and more firms onboarding every day


we have a regulated firm from Thailand onboarded


the key areas of restriction are US, and Japan


Crypto_Thai:

Looking good


What are the most common set of rules/laws for each country to adopt crypto


Which you guys can help with


R B:

for institutions the key is always reputational risk


if they end up buying tainted bitcoin or deal with a platform that is indicted by the DOJ this comes with reputational risk that can damage their business if not destroy it


so they are always focused on mitigating against that


with Diginex, they have a regulated, well governed, nasdaq listed (SEC approved) firm to deal with


Kelvin T:

Indeed, and to add to Richard's point, we use blockchain analysis tools to ensure that any cryptocurrency that ends up on our platform are AML/KYC-compliant


Crypto_Thai:

Really comforting for these institutions


Kelvin T:

Therefore if there are any funds coming from blacklisted address by various authorities, we will be able to detect them on our exchange


Crypto_Thai:

Which other USP's does the exchange provides?


R B:

Alot is about the features being added this quarter: Managed Accounts for asset managers, cross asset collateralization, user defined margin, isolated margin and of course... our token EQO - the only exchange token that provides DAILY staking rewards. current APY around 300%


Crypto_Thai:

Do you have any demo material for this or a visual concept?


Kelvin T:

Information about our EQO token may be found here, and this is already live on the exchange: https://equos.io/eqotoken/


Crypto_Thai:

Thanks for this! Why should one get the EQO token?


If you can make a summaries it a bit


Kelvin T:

Of course!


R B:

Kelvin T:

EQO has multiple features - and is the first token created by a NASDAQ-listed cryptocurrency exchange


R B:

This doesnt even include the utility!


Crypto_Thai:

Sweet!


R B:

Kelvin, why don't you spin through all the utility?


Kelvin T:

There are some utilities of the token on our exchange that are currently live, which are staking, and reduced trading fees.


Crypto_Thai:

Spill some juice


Kelvin T:

I'm spilling it ๐Ÿ™‚


R B:

spill it all!


Kelvin T:

Pouring it out!


So! with our first one, staking.


Kelvin T:

This utility is a gem.


Crypto_Thai:

๐Ÿ˜‚๐Ÿ‘Œ


Kelvin T:

Essentially, by holding EQO on our exchange, you will be able to receive more EQO everyday!


So in practice, if you were to come onboard the exchange and acquire EQO today, you will be able to receive yield on your EQO every day


R B:

and...?


Crypto_Thai:

Staking all the way


Kelvin T:

We had a special issuance period last month


Crypto_Thai:

What is the APY like?


Kelvin T:

And from that point onwards, you'd get an APY of 52%!


Crypto_Thai:

๐Ÿ˜ฑ๐Ÿš€


R B:

the earlier you get it the higher the APY


the first two weeks was 300%


Crypto_Thai:

How is this sustainable over a longer time frame?


Kelvin T:

However, if you were to come onboard and trade it now, you will still get an APY of more than 30%


R B:

as more tokens get issued yield drops


issuance happens over two years

Kelvin T:

Indeed


Each day, we allocate tokens according to two portions


How much you trade on the exchange


And how much you stake on the exchange


Crypto_Thai:

Smart move. Get the traction goinf


Kelvin T:

There is a set rate of tokens that are distributed to the public each day, and at this point in time, it is 105,411.77 EQO a day


The traction has been fantastic!


Due to this token, our volumes have quadrupled


People can't seem to get enough of it


R B:

Halving every 90 blocks... (days)


biggest rewards to the earliest adopters


Like Bitcoin


Kelvin T:

Here's the distribution table for reference


Crypto_Thai:

Early birds get the wurm


Kelvin T:

Indeed, wurms are up for grabs


Crypto_Thai:

Great! Are there any cons for this?


Kelvin T:

The cons are that if you come in late, you get less ๐Ÿ˜‰


R B:

 here is all the utility


Kelvin T:

So, let's get back to the utility


We have only just touched the tip of the iceberg with staking


Now, there are 4 other items in here that this tokens do, which I will explain


The Fee Reduction feature is an existing utility of EQO


Essentially, you will be able to increase your fee tier and pay less trading fees as you hold more EQO!


Crypto_Thai:

๐Ÿ”ฅ๐Ÿ’ช


Kelvin T:

By paying less fees, this means, that your strategies are more profitable


For example, if you wanted to perform an arbitrage trade, as you are paying less fees, your trigger point for performing that trade will be lower.


Therefore there will be more opportunities for your strategy to be profitable!


Now, onto the next 3 utilities


Airdrops!


Everybody's favourite word


Because who doesn't like free stuff


So as we have mentioned earlier, Diginex is a full suite of cryptocurrency products


Now, we have multiple business lines, each one of them doing something somewhat different


And these business lines will also grow over time


What a lot of our competitors do is that they create one single token and build their ecosystem around the one token


This can be good in some sense, but at the same time, there is an exposure risk


Crypto_Thai:

Is inflation possible in the current distribution?


R B:

no - fixed at 21mln


Crypto_Thai:

If yes. Which tricks can you perform to solve it


Good to know!


Kelvin T:

So we will be creating multiple tokens for our various business units


And then out of those new tokens, a portion of those will be alloted to EQO holders


R B:

Effectively our goal is to continue adding value to the EQO token holders because they got there early. As we grow, more features and airdrops get added to EQO.


Kelvin T:

By having multiple tokens, investors are able to bet on multiple businesses


Indeed


Now the last 2 utilities


Crypto_Thai:

Keep it interesting for user and investors


Kelvin T:

Enhanced Interest - we are going to be offering borrowing and lending on our platform soon


By locking up EQO together with your capital, you will be able to receive an additional 10% on your interest


This means that you can use EQO to boost your yield on our platform


The last feature is cross-collaterization


Essentially you can use EQO as margin when opening up derivatives positions on our exchange


Crypto_Thai:

Yields stacked on yields


Kelvin T:

Yieldception


Crypto_Thai:

Is there any check sheet compared with other exchanges?


R B:

no check sheet, but here you go:


1. only exchange token with daily staking


2. exchange growing volumes at 50x over past six months


3. Utility token of an exchange listed on Nasdaq


4. Airdrops


5. Kelvin and his team constantly adding new utility!


Kelvin T:

Spot on!


Crypto_Thai:

Perfect points


So what are the next steps for EQUOS?


Kelvin T:

Our immediate next step is to get these features in place


Crypto_Thai:

Which date/month do you have in mind?


Kelvin T:

Within the next 3 months!


Crypto_Thai:

Nice!


Before I open the gates for the community questions


R B:

@Crypto_thai I am afraid I have to say goodbye in a few minutes, Kelvin is the brains of the operation and will be well positioned to cover all your questions!


Crypto_Thai:

Is there anything else you would like to share with our community?


Thanks for letting us know. will open the community questions soon. Your team can answer as many as they like and pick a winner


R B:

I would say, onboard to Equos.io today, get some eqo, trade to earn more, and get staking reward daily!


We have designed this to be the core token to help maximise your digital asset investment experience within Equos


[Not investment advice]


Kelvin T:

Indeed! Come on to EQUOS now, and start earning EQO today and over the next 2 years!


[Up until 18 Mar 2023]


Crypto_Thai:

Thanks for letting us know


Let's open the gates


 AMA Guard:

Group Gem Collectors ๐Ÿ’Ž session is now Inactive


Crypto_Thai:

Great questions everyone


Let's see how the team answer them


Kelvin T:

Thank you all for your questions!


Crypto_Thai:

Pick a bunch of question and ofcourse the winner in the end


For Now:

The EQO token will be built on top of the Ethereum network as an ERC20 token. More gas fees for run smart contracts is prevailing problem with etherum network.. What is the reason to select etherum network?  How will this matter be managed in EQUOS ?what are the advantages Equos has obtained by building $EQO on etherum network?


Kelvin T:

We selected ETH due to its large reach. There is already a lot of support for it, and it is easy to integrate into pretty much any cryptocurrency wallet. However, we do agree that gas fees are expensive, however, this will be solved in coming ETH upgrades


Veloraa $ C R Y P T O:

Helo Sir. @st01kos and @rb2323  Q1.. Can you describe a buy-back and burn mechanism process that will be introduced once the EQO is fully distributed..??   Q2.. What does #EQUOS think about the future competition for "CEX" and "DEX"? Do you agree with the opinion that DEX will dominate "CEX" in the future? Why does #EQUOS prefer to build on the "CEX" platform rather than "DEX"..??


Kelvin T:

Q1. We are certainly looking into a buyback and burn mechanism at the end of the distribution period. However, the exact mechanism is still under wraps.  Q2 Good question. CEXs and DEXs fulfil different market gaps. DEXs have traditionally been slower in terms of execution due to the need to wait for the blockchain, so this means that if you build a DEX on ETH you need at least 15s for the trade to come through. We are using CEX to satisfy institutional needs for fast trades


Lovely_DC:

When building your Soils project, did you consider community feedback or requests to develop new ideas for the project? And Nowadays many projects fail because they don't understand their target audience and customers. So I want to ask: Who is the most ideal customer for your product?


Kelvin T:

Yes we did! We perform a lot of user surveys on what they would like to see in the product. Our ideal customer profile is actually both a retail and institutional trader


Redandi Dece:

Hello sir @rb2323 @st01kos  Q1 Since the Cryprocurrency boom, many trading platforms have sprung up. each platform has its own advantages and uniqueness. What are the advantages and uniqueness of the EQUOS trading platform, how is the security system? how many users are already using your platform, and how can beginners easily understand your platform?  Q2 Is EQUOS really a part of Nasdaq? how did you get to partner with the Nasdaq, and why did you choose the Nasdaq, what advantages did you get?


Kelvin T:

Hi Redandi,   Q1. Indeed this is correct. In the AMA, we mentioned that our strengths are regulation and security, and trust. We constantly test our platform against threats. Beginners can learn from our site http://learn.equos.io/  Q2. We are listed under NASDAQ under the ticker EQOS. We went through a long listing process and chose to list here because of the legitimacy and trust it brings


Nguyeuh Chriit:

EQUOS has addressed the reputational risk factors prevalent in the crypto industry, implemented robust KYC / AML processes, crypto asset sourcing checks, enhanced security, and an institutional architecture designed for bank-level standards.   my question   why do you have to have KYC on your platform what it functions for and what is the bank level standard system you mean, can you explain?


Kelvin T:

Thanks Nguyeuh, great question! We need to have KYC to comply with local laws to ensure that our clients are free to trade crypto in accordance to where they live. This means that our customers who trade on our platforms are less at risk when it comes to compliance, and are more unlikely to have their banking services disrupted as we are compliant with local laws


TOMPLEH:

What is your top priorities in 2021? Could you share some plans for the upcoming year?Which part of the project are you most focused on right now?



Kelvin T:

Our top priorities is to roll out a bunch of products which are user-friendly, and this will allow us to gain traction and grow our ecosystem and the crypto space as a whole. We would also like to grow our retail segment. We are focused on multiple projects at once as we have multiple teams


Indeed, you are right. We have a fast internal feedback loop which looks out at external developments, and we quickly turn those into product specifications which we use internally. We take our internal quality control seriously


Kartikaโคโค:

Hello Sir @rb2323 and @st01kos  How do you think the mechanism of changing the circulating supply according to liquidity ??? Which factors depend on the $EQO circulating supply ??? Can you explain the process of decentralizing the liquidity token sale '' Add '' and '' Delete '' ???? And how does EQUOS derivatives market protect speculators from major losses in derivatives??? What are the risk control mechanisms???


Kelvin T:

We have a fixed supply of EQO, and the circulating supply changes daily based on how many is released into the ecosystem. It is not a token sale.  EQUOS derivatives have a liquidation reserve which is essentially an insurance fund: https://help.equos.io/en/articles/4634057-liquidations


Tyo Marthata:

To : @rb2323 and @st01kos  Q1.. Most of course the current token offering is being done with the sole purpose of raising capital to enrich themselves, thus making investors question why they are investing.. So what makes the launch of #EQO different from other token offerings we've seen? How are tokens designed to benefit their holders..??


Kelvin T:

Thanks @Tyomarthata08 this is exactly what makes #EQO different. There is no capital raising element. You can earn EQO by trading or by buying it on the secondary market.


Crypto_Thai:

Keep it going


Feel free to pick a winner legend


The Miracle | ZTH:

Q1. The industry has been plagued with reputational risks related to KYC / AML, terrorist financing, market manipulation, governance, and software hacks. These issues have led many investors to steer clear of this growing asset class. What solution does EQUOS provide to regulate and maintain a stable trade? Can you carry out transactions between fiat currencies and cryptocurrencies on your platform under a secure scheme?  Q2. You are the CEO of Diginex, the first Nasdaq-listed company with a cryptocurrency exchange and EQUOS is a part of it. If Iโ€™m not mistaken, today will be the official trading of $EQO and Iโ€™ve heard that $EQO is not being offered for sale to raise capital. So if itโ€™s not for sale can you tell us the ways on how we can earned your Token and what will be itโ€™s uses in your platform? @st01kos


Kelvin T:

Q1. Indeed. We have an institutional-grade matching engine which provides the fundamental base layer for our platform. On the layer above, we have many market integrity controls in place. USD is treated as USDC on our platform at a 1:1 ratio. You can carry out trades against USD/USDC.  Q2. The token can be earned by trading and staking on our platform. More details here: https://equos.io/eqotoken/


Lovely_DC:

Hello Sir @rb2323, @st01kos ๐Ÿ˜Š  Transparency is the key to any project. One of the features that EQUOS provides is that it will provide privacy in a transparent manner but is also compatible with KYC and AML, if your project is truly private and decentralized then why is KYC needed? Is that just another option? And is the app free? how safe is this application guaranteed against viruses?


Kelvin T:

Our project is actually centralised with elements of decentralisation!


let's see


Crypto_Thai:

GIF


Kelvin T:

I'd say it's this one!


Crypto_Thai:

Congrats winner!


Will send you a DM


Kelvin T:

๐ŸŽ‰


Crypto_Thai:

Hope you still got a energy left after this ama session


Kelvin T:

Crypto never sleeps ๐Ÿ˜Ž


Crypto_Thai:

Wish you the best with the project


And we stay in touch ๐Ÿ’ช


Kelvin T:

Thank you @Crypto_thai


Indeed!


Crypto_Thai:

Keep us posted


Kelvin T:

And thank you everyone for all your questions!


We will!


It was a pleasure


Crypto_Thai:

Thanks!!


Kelvin T:

To the moon guys, see you on EQUOS!


Related Articles

This week in crypto...

June 13, 2021

On Monday, a US government taskforce recovered $2.3 million in crypto from the Colonial Pipeline attack last month.

Keep up with crypto through EQUOS!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

This Week in Crypto...

June 6, 2021

On Monday, Bloomberg released an article questioning if Ether would take over Bitcoin in market value, citing multiple sources that agree it will.

EQUOS Crypto Exchange Achieves โ€œA+โ€ Transparency Ranking

June 3, 2021

Ranked Top 20 For All Exchanges Globally by Cryptocurrency Market Data Provider Nomics

This Week in Crypto

May 7, 2021

On Monday, Ethereum founder Vitalik Buterin became a billionaire after ETH passed the $3,000 mark.