Diginex Launches EQUOS Origin (EQO), the first Nasdaq listed company to issue a token, and it is not for sale
EQUOS Origin will reward traders with fee reductions, yield enhancement and can be used as collateral.
SINGAPORE, March 15, 2021 /PRNewswire/ — 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.
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 EQUOS.io 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.
For more information visit: https://www.diginex.com/
This press release ("Press Release") is prepared by Diginex Limited ("Diginex") and is provided for information purposes only and is a summary only of certain key facts and Diginex plans. This Press Release does not constitute an offer or solicitation or form part of an offer or solicitation of any kind to anyone in any jurisdiction in relation to any securities or other regulated products or services. Without limitation, the Press Release does not constitute an offer or solicitation to make use of any services provided by Diginex, and neither this Press Release nor anything contained in it will form the basis of any contract or commitment whatsoever. The contents of this Press Release have not been reviewed by any regulatory authority in any jurisdictions. Statements contained herein as to the content of any agreement or other document are summaries and, therefore, are necessarily selective and incomplete and are qualified in their entirety by the actual agreements or other documents. This Press Release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Diginex’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to recognize the anticipated benefits of the business combination; the ability of Diginex to grow and manage growth profitably; Diginex’s limited operating history and history of net losses; Diginex’s ability to execute its business plan; the inability to maintain the listing of Diginex’s shares on NASDAQ; Diginex’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex’s products; Diginex’s ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex’s intellectual property; general economic and market conditions impacting demand for Diginex’s products and services; and such other risks and uncertainties indicated in Diginex’s Shell Company Report on Form 20-F, including those under "Risk Factors" therein, and in Diginex’s other filings with the SEC, which are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this press release are based on assumptions that Diginex believes to be reasonable as of this date. Diginex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Other than those of Diginex, all names, trademarks and logos in this Press Release and used in the materials herein belong to their respective owners. Nothing contained on this Press Release should be construed as granting, by implication, estoppel, or otherwise, any right or license to use any third-party names, trademarks, or logos displayed on the Press Release without the written permission of such third-parties. Copyright (c) Diginex 2021.
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