Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Diginex Launches EQUOS Origin (EQO), the first Nasdaq listed company to issue a token, and it is not for sale

Disclaimer: The text below is a press release that was not written by
Avertissement : Le texte ci-dessous est un communiqué de presse qui n'a pas été rédigé par

EQUOS Origin will reward traders with fee reductions, yield enhancement and can be used as collateral.

(SINGAPORE, March 15, 2021) – Diginex Limited (Nasdaq: EQOS), a digital assets financial services company, today announced the launch of EQUOS Origin (EQO), a token that can only be earned through trading on the EQUOS cryptocurrency exchange.

Unlike most token offerings, 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 lack of pre-mine or sale is fully aligned with the EQUOS values of transparency, fairness, and equality.

EQO will have multiple 'utilities', including being used to reduce fees for trading on EQUOS. Holders of EQO will also be entitled to airdrops of new tokens issued for utility purposes within the Diginex ecosystem in the future.

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. EQO will also be able to be used as collateral for derivative margining.

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 incentivize traders for trading and holders for holding and bringing balances to the platform.”

In homage to Bitcoin, 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.

EQUOS Origin will launch on 8th April 2021, with 11 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

About Diginex
Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian Digivault and funds business Bletchley Park Asset Management.

Lundi 15 Mars 2021