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.
This comes as trading volumes on EQUOS have reached record levels in recent weeks in anticipation of the EQO launch.
With the full launch of EQO now complete, the EQO/USDC trading pair is now live on EQUOS, providing immediate liquidity for traders looking to buy or sell.
Holders of EQO receive a number of benefits that are unique to EQUOS.
This includes reduced trading fees, access to future airdrops, staking rewards, the collateral against derivatives transactions, and enhanced interest for crypto lending. There will also be a buy-back and burn mechanism implemented once the token has been fully distributed.
In accordance with the EQO whitepaper, EQO will be distributed every day in the form of trading and staking rewards over a two-year period. Every 90 daily Reward Blocks the rewards halve, increasing the similar to Bitcoin, and highlighting its increasing scarcity. The whitepaper is available in English, Chinese, and Korean.
Richard Byworth, CEO of EQONEX, said: “It’s extremely encouraging to see record-breaking volume on EQUOS, as traders realize the benefits of owning EQO. The EQUOS Origin token offers a great range of utilities and incentives for traders using the EQUOS platform, and we’re very excited about how this will continue to spur the explosive growth we have been seeing.”
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.
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.
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