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.
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 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/
Follow Diginex on social media on Twitter
@DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn.
Follow EQUOS.io on social media on Twitter @EQUOS_io and
on LinkedIn.
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
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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
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Statements contained herein as to the content of any agreement or
other document are summaries and, therefore, are necessarily
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forward looking statements that involve risks and uncertainties.
Forward looking statements are statements that are not historical
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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
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reasonable as of this date. Diginex undertakes no obligation to
update any forward-looking statements to reflect events or
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new information or the occurrence of unanticipated events, except
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materials herein belong to their respective owners. Nothing
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Copyright (c) Diginex 2021.
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SOURCE Diginex Limited