EQO Token
Asia Latest News

Diginex: First Nasdaq Listed Company to Issue Digital Token

EQO, the first token to be backed by a Nasdaq-listed cryptocurrency ecosystem, rewards traders with fee reductions, yield enhancement and can be used as collateral.

Launching in April, the EQUOS Origin (EQO) token – launched by digital assets financial services firm Diginex Limited – can only be earned through trading on the EQUOS cryptocurrency exchange.

EQUOS operates out of Singapore with an exemption under the payment services regulations of the Monetary Authority of Singapore (MAS).

EQO will have utility within an already fully functioning exchange and is not being offered for sale to raise capital. Instead, EQO can only be earned by trading on or ‘staking’ on the exchange, with a minority portion of the daily allocation sent to the EQUOS treasury.

The token is designed to benefit holders through its own utility, as well as staking, additional airdrops and a discretionary buyback-and-burn programme. Its goal is to drive volume and balances higher on EQUOS in the way it is rewarded.

Richard Byworth, CEO of Diginex, said: “From a fairness, security and compliance perspective, the EQUOS platform is already a leader in the industry. However, a key component for institutional clients and traders is having deep liquidity and consistent volume growth.

“EQUOS Origin is being issued specifically to drive activity, volume, and balances on the platform. It has been carefully designed to incentivise traders for trading and holders for holding and bringing balances to the platform.”

EQUOS Origin will launch on 8 April 2021, with 11 reward blocks. The first 10 blocks will reward fee-paying clients’ price taking volumes between 16 March 2021 and 7 April 2021. EQO has a finite supply at 21 million tokens, with no pre-mine. 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.

Author

Related posts

UK Fintech News: The Latest Stories 14/04

Polly Jean Harrison

Exscudo becomes an official sponsor of Money20/20 Europe 

Manisha Patel

Juniper Research Finds Digital Wallet Spend to Exceed $10 Trillion Globally in 2025

Polly Jean Harrison