THE EQONEX CRYPTO GUIDE AND LEARN HUB
EQO

EQONEX Origin explainer: How does Staking work?

March 19, 2021

Staking EQONEX Origin (EQO) on the platform means simply holding onto it on EQONEX. There are multiple benefits for simply holding EQO on EQONEX including earning more EQO, reduced fees and enhanced yield.

Staking is a benefit that is seen across a few cryptocurrency tokens and is used to incentivize holders in the world of DeFi yield farming, as well as in Proof-of-Stake blockchains.  

In a similar process to yield farming, EQO tokens held or ‘staked’ on the EQUOS platform receive part of the daily Reward Batch that is allocated to staking rewards.  

The ‘yield’ is based on a client’s holding relative to the already issued tokens. So, for example, if the Reward Batch on a particular day was 117,124 tokens, and the allocation to staking for the day was 15,811, and a client held 1% of the outstanding EQO tokens, that client would receive 158.11 EQO that day for holding the token.  

Earn More 

Every day, the staking portion of the Reward Batch is allocated based on the overall ownership of EQO on the platform.  If a client doesn’t sell the EQO which they have accrued and hold it in his or her wallet on EQUOS, he or she will receive more EQO daily for the remaining Reward Blocks. For example, if during any day within Epoch 1 there is a total of 2,000,000 EQO held on the platform, and a user holds 20,000 EQO, they will be eligible for 1% of all tokens awarded to staking. The Daily Reward Block during this period is 117,124 EQO. After taking up the Treasury Allocation, the Reward Batch is 105,411EQO. 15% of the Reward Batch is allocated to staking rewards, which is 105,411 x 15% = 15,811.76 EQO. Therefore, this client who is eligible for 1% of all tokens allocated to staking will be eligible for 1% of this allocation, which is 15,811.76 x 1% = 158.11 EQO on that particular day. 

Fee Reductions 

Holding EQO on EQUOS will also entitle clients to discounts on their trading fees. These discounts will be implemented through an uplift to the client’s fee tiers based on how many EQO are held by the client. Clients who hold 10,000, 50,000, 100,000, and 500,000 EQO in their balances will be upgraded by 1, 2, 3, and 4 tiers, respectively. The maximum fee tier that retail clients may be upgraded to is Fee Tier 5. For example, if a client on Fee Tier 2 has a balance of 50,000 EQO, they will be upgraded by 2 fee tiers, meaning that they will be treated as if they are at Fee Tier 4. However, if the same user were to hold 500,000 EQO, they will be upgraded to the maximum Fee Tier of 5. More information about EQUOS fee tiers may be found at https://my.equos.io/exchange-fee-schedule. 

Enhanced yield  

Shortly after EQO’s initial release, EQUOS will introduce the functionality to earn yield on different asset balances within wallets on EQUOS, powered by Digivault. This will mean, for example, that holders of Bitcoin on EQUOS will be able to earn yield on their Bitcoin by placing it into a lock account for specified periods of time. This is where EQO’s utility will come into play. EQO will effectively increase the yields available to clients by a factor of at least 10%. 

To learn more about benefits of staking EQO, read the whitepaper here 

Related Articles

The Second EQO Halving Is Coming Soon! What Happens Next?

The Second EQO Halving Is Coming Soon! What Happens Next?

September 20, 2021

Christina

The next halving event for the EQO token is due to take place on September 24, and it's good news for EQO holders.

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trading Tools to Win

Trading Tools to Win

May 27, 2021

Watch the recording of our "Trading Tools to Win" webinar, in which EQONEX.io partnered with Margin.de to bring you strategies, tools, and tactics you can employ to make your crypto portfolio work harder and perform better. Our panel of experienced traders talked about their trading philosophy, the Margin platform, the panel's favorite Algos, and how EQONEX' native token EQO can boost your returns.

EQONEX Origin Token (EQO) starts trading today

EQONEX Origin Token (EQO) starts trading today

April 8, 2021

EQONEX, the institutional-grade cryptocurrency exchange owned by Nasdaq-listed EQONEX [EQOS], today announced that EQONEX Origin (EQO) officially starts trading, with traders receiving a share of over one million EQO tokens that have been issued to price-taker traders on the platform.

EQONEX Origin explainer: How does EQO reduce fees?

EQONEX Origin explainer: How does EQO reduce fees?

March 30, 2021

Holding EQO on EQONEX entitles clients to discounts on their trading fees. These discounts will be implemented through an uplift to the client’s fee tiers based on how many EQO are held by the client.

THE EQONEX CRYPTO GUIDE AND LEARN HUB

Bringing digital assets to the world.

EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

© 2022 EQONEX Capital Pte Ltd
All rights reserved.

IS 749075