We are glad to meet here:
Richard Byworth, CEO of Diginex (@rb2323)
Welcome Richard, thank you for taking your time today!
Our team has prepared 4 questions for you to start with:
Let`s start with the introduction!
Q1: Can you introduce yourself to our community?
Sure! My name is Richard Byworth and I am the CEO of Diginex.
Perfect, thank you for the intro!
Great, let's talk now about Diginex:
Q2: Can you briefly tell us what is Diginex in 3-5 sentences?
Diginex is the bridge between traditional finance and the emerging crypto world, leading both into a new era of finance—one that is safe, inclusive, and above all, innovative. It’s an ecosystem that delivers a full spectrum of digital asset financial services and products within a regulated environment to foster the mainstream adoption of digital assets.
Great, well structured! thank you Richard!
The next one is:
Q3: What are the components of the ecosystem?
Our cryptocurrency exchange: EQUOS
multi-venue trading platform: Access
digital asset custodian: Digivault
securitization advisory firm: EQUOS Capital
and investment solutions firm Bletchley Park.
Great, and the last one from our team is:
Q4: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
We launched the EQUOS exchange in July of 2020, and became the first Nasdaq-listed crypto exchange operator in October of 2020. The biggest milestone to date, however, is coming up soon, with the release of EQUOS Origin (EQO), our native token.
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.
EQO will have multiple ‘utilities’, including being used to reduce fees for trading on EQUOS, increasing yields on assets and being usable as collateral for leveraged trades and loans. Holders of EQO will also be entitled to airdrops of new tokens issued for utility purposes within the Diginex ecosystem in the future.
Thank you for such detailed and interesting answers!
It is time to move to the community questions part.
Let's remind AMA rules to the community😊
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I will open the chat at 11:11 UTC, check exact time on time.is
please prepare your questions
AMA starts in 4 minutes!
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I will open the chat at 11:11 UTC
please prepare your questions
Most token offerings these days are done with the sole purpose of raising capital to enrich themselves,thereby making investors question why they invested in the first place. What makes EQO launching different from other token offerings we've seen? How's the token designed to benefit its holders?
Hi Abisola, this is a great question: we are not offering this token for sale.
To be clear, it can only be earn in two ways:
By holding (staking) the token on EQONEX
Both pay and earn more EQO daily.
Utility for the user: staking, airdrops, collateral asset, enhanced yields on other assets, reduced fees
An excerpt from your whitepaper says there will be a special reward upon launch. Congratulations in advance for the launch, can you tell us more about this special reward which you have in place and how we can benefit from it?
If I'm right, EQO token is scheduled for lunch on 8th of April 2021, how many trading pairs will be available upon launch and on which exchange will it take place?
Thanks for your questions @kunlefighter
The special allocation period is between 16 March and 7 April inclusive. All price-taking trading on the platform in that period will receive a pro-rata allocation based on their volume. This will be allocated on 8th April - when the normal daily issuance begins
The platform is already live and includes BTC, BCH, USDC, ETH and USD fiat for spot and BTC and ETH perpetuals
What problem is EQUOS currently addressing in the DeFi ecosystem that other similar projects are yet to address and why should users choose EQUOS over its competitors?
Can you please send links to your social medias?
EQONEX is CEFI not DEFI. Although EQO brings an element of DEFI with daily staking
Moon the light
What role will EQO play in the EQUOS platform, how can users earn it? What benefits will the owner receive?
Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Yes third-party audit of the smart contract has been finalized for launch
Why should users choose EQUOS over other trading platforms? How will EQUOS build a platform to protect user data and assets to create trust in users?
EQONEX is part of a Nasdaq listed company. We are focused on security and governance being SEC and Nasdaq standards of oversight to the industry.
Thé exchange is building towards providing a one-stop shop service for all your digital asset needs
R fys ~ COTI.IO
Will $EQO be listed on other CEX exchanges?
Not at this point. EQONEX only
I saw that EQO has a supply of 21 million tokens, i would like to know if there will be a pre mine or not? Also, how will the token be distributed, Will it be on a daily or weekly or monthly basis?
Special allocation is 10 reward blocks
Then moves to single reward block daily
Every 90 blocks, reward halves
The issuance period lasts for 2 years
Earning post the special issuance is between traders and stakers
I saw in your platform that ,
Derivative products are offered on the same platform operated by EQUOS..
What are such derivate products?
How can user use such products within EQUOS?
Derivatives today are the delta one product: the perpetual future. In the coming road map: dated futures, options, and eventually structured products
Will EQUOS be Applying any marketing strategy to get information across and attracts new users?
Yes, every day we are marketing in the media, and on podcasts. This was me talking about EQO on Bloomberg tv last week: Bitcoin May Rise to $175,000 by Year End: Diginex CEO
Gets Hot OR Burned
As a community-based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System??
We have a referral scheme on EQONEX - 30percent of all fees on clients you refer... FOR LIFE
What innovation does EQONEX have in its operating platform compared to others? What are the core values you will bring to your users?
governance, security, trust, products (derivatives and borrow lending), reputation (entire leadership team come from regulated roles)
What partnerships have EQUOS been able to seal so far and how have these partnerships positively impacted the EQUOS platform and its users?
We think one of our key differentiators is that we do not market make on our own exchange, so we have partnered with many market makers including industry-leading GSR. We also have partnerships with some crypto trading groups like Margin.de
Cool Hi Caker
Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
The team is made up of a mix of ex-investment bankers, like me, who made the move into crypto when we saw the potential of the market, plus technology experts who have worked on the worlds largest exchanges plus security specialists from government agencies
R fys ~ COTI.IO
When are you launching $EQO?
8th April, but earning has already started
Richard many congratulations on your growing success, Diginex has a great looking eco system, digivault looks very robust but when will lending/borrowing be added to that so users of the vault can generate some yield on the holding?....and is this something your building in house or using existing solutions?
Thank you for the question. Borrow and lending for institutions will begin in the next few weeks, integration with EQONEX will be in a few months
Can your project be traded on a pancake swap? If so, can you provide me with that token's smart rule? Also what pairs are available for STAKING?
What security features will be implemented to prevent smart contract hacking. Are they regularly inspected for vulnerabilities?
Fairly simple smart contract and has already been audited.
Ok thanks for all the questions everyone. Looking forward to hearing more from you all. And make sure you get onboarded fast: EQO like Bitcoin sees the majority of the supply released in the early reward blocks!
Thank you @rb2323
Great answers, thank you for your time
thank you to everyone who took part
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