Introducing EQIFI’s Native Token — EQX
3 min readTable of Contents
EQIFI is a decentralized protocol, powered by a fully licensed and regulated digital bank, EQIBank. The protocol has developed a native token, EQX.
EQX is a fungible, ERC-20 token built on ETH. The coin has a total maximum deflationary supply of 500,000,000.
Background into EQIBANK
EQIBank, which launched in 2015, is a unique service that challenges the limitations of traditional banks.
Through blockchain technology, EQIBank is shaping the way modern investments are managed.
In a nutshell, EQIBank is a digital bank and financial services platform. There are various products and services offered by EQIBank. Trust is the core of all things EQIBank.
EQIFI, fintech, and decentralized finance
Decentralized finance (DeFi) and blockchain technology allow EQIFI to bring financial products to a space previously perceived as out of reach to the general public.
EQIFI’s strongly values its ideology that all products and services should be uniformly available and delivered digitally.
The EQIFI ecosystem is a seamless space for investors, traders, developers, and more to explore the future of currency.
This decentralized protocol allows users within the EQIFI ecosystem to engage in pooled lending, borrowing and investing.
This is specifically for ETH’s native token, ETH, and ERC-20 tokens including wrapped BTC (wBTC), Stablecoins as well as certain fiat currencies.
EQIFI’s ecosystem is an unchanging platform for DeFi products with the opportunity to apply for EQIBank accounts, loans, custody, wealth management, and debit and credit cards.
Tokenomics
EQX sports various benefits for holders within the ecosystem, which can be found below.
Token allocations are as follows:
The EQX token has very exciting features on offer for holders.
EQX holders can earn up to 255 Bonus APY as well as a passive return. Interest will be given to holders based on the time tokens are staked in liquidity pools.
Holders will receive higher limits on DeFin products, as well as better rates and reduced fees on the platform overall. An early adopter bonus and staking bonus are also available.
Depending on the number of EQX tokens held by an individual, the better the loan-to-value ratio (LTV).
The EQIFI protocol is essentially governed by EQX holders. The structure allows the community within the ecosystem full control over proposals, voting, and change execution. This is possible through the platform’s governance structure and functions.
Members of the community who hold tokens are therefore able to suggest new asset classes, fees, and even interest rates.
EQX benefits in a nutshell
- Early adopters will be rewarded for joining the platform. This will be capped at the first 10,000 people.
- Holders of EQX will receive better rates and reduced fees on trades, as well as reduced costs on other services across the platform.
- Holders with 800,000 or more EQX are able to vote for new features. This includes adding new tokens to the platform, changes in interest rates, and more.
- Based on the amount of EQX a holder has, lending risk rates and LTV ratios may be more favorable.
- EQX holders may earn up to 25% APY passive return.
- EQX holders who stake the token provide liquidity to the platform and therefore receive preferential rewards.
Join the whitelist here.
EQX takes the DeFi game even further
The EQX token is a testament to the ingenuity and future-focused outlook that is EQIFI. The token takes the protocol one step closer to being self-sustaining.
With the backing of EQIBank, the token has years of world-class service behind it too. This digital institution is a leader in the industry, which is clear in its available products and services.
EQIFI will ensure users are in full control when it comes to managing their money. Token holders have ample opportunity to make the community a space where their needs and wants are realized.
Finally, the benefits of the EQX token make it impossible to resist getting involved. From reduced costs and fees to early adopter rewards and interest received – the plethora of added personal benefits is what sets this token and protocol apart from the rest.
The post Introducing EQIFI’s Native Token — EQX appeared first on BeInCrypto.
