EQO, the primary token to be backed by a Nasdaq-listed cryptocurrency ecosystem, rewards merchants with payment reductions, yield enhancement and can be utilized as collateral.
Launching in April, the EQUOS Origin (EQO) token – launched by digital property monetary companies agency Diginex Restricted – can solely be earned by way of buying and selling on the EQUOS cryptocurrency alternate.
EQUOS operates out of Singapore with an exemption beneath the cost companies laws of the Financial Authority of Singapore (MAS).
EQO may have utility inside an already absolutely functioning alternate and isn’t being supplied on the market to boost capital. As a substitute, EQO can solely be earned by buying and selling on or ‘staking’ on the alternate, with a minority portion of the each day allocation despatched to the EQUOS treasury.
The token is designed to learn holders by way of its personal utility, in addition to staking, extra airdrops and a discretionary buyback-and-burn programme. Its purpose is to drive quantity and balances larger on EQUOS in the way in which it’s rewarded.
Richard Byworth, CEO of Diginex, mentioned: “From a equity, safety and compliance perspective, the EQUOS platform is already a frontrunner within the trade. Nevertheless, a key part for institutional shoppers and merchants is having deep liquidity and constant quantity progress.
“EQUOS Origin is being issued particularly to drive exercise, quantity, and balances on the platform. It has been fastidiously designed to incentivise merchants for buying and selling and holders for holding and bringing balances to the platform.”
EQUOS Origin will launch on eight April 2021, with 11 reward blocks. The primary 10 blocks will reward fee-paying shoppers’ value taking volumes between 16 March 2021 and seven April 2021. EQO has a finite provide at 21 million tokens, with no pre-mine. Tokens will probably be distributed each day by way of a reward block over a two 12 months ‘issuance interval’ and may have an everyday provide discount (or halving function) each 90 reward blocks.