Unlike most token offerings, EQO will have utility within an already fully functioning exchange and is not being offered for sale to raise capital. EQO can only be earned through trading on the EQUOS cryptocurrency exchange and rewards traders with fee reductions, yield enhancement on other assets and can be used as collateral for derivatives trades. Holders of EQO will also be entitled to future airdrops of new tokens issued for utility purposes within the Diginex ecosystem. As EQUOS rolls out borrowing and lending capabilities, scheduled for later this year, EQO will be used to boost yields available on assets held in Digivault, the hot and cold wallet custodian integrated into EQUOS.
Richard Byworth, CEO of Diginex, said: “We have seen an enthusiastic uptake for EQO since we launched just a week ago, with a meaningful increase in retail sign ups and a record retail daily trading volume. Together with strong interest from our institutional customer base, this reflects significant retail and professional trader interest in earning the EQO token. “
“EQO is designed to allow utility across the future prime / private bank-like experience for digital assets that we have been building. Since last week’s launch, we have seen increased activity coming from a diverse range of countries, with trading volume from customers across Europe, the Middle East, Asia and Australasia. It’s great to see such global recognition for this very unique exchange token.”
The EQUOS Origin will launch on 8th April 2021, with 11 Reward Blocks. Tokens will be distributed daily via a "Reward Block" over a two year "Issuance Period" and will have a regular supply reduction (or halving feature) every 90 Reward Blocks. The first 10 blocks will reward fee-paying clients' price taking volumes between 16th March 2021 and 7th April 2021.
To read the whitepaper, click here.
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