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Digital assets exchange EQONEX (Nasdaq: EQOS) reveals that it will be conducting its first airdrop of EQO dollars (EQO-D) “exclusively for the holders of its native token EQO.”
As mentioned in a release shared with CI:
“Under the terms of the airdrop, 100 EQO-D will be issued per 1,000 EQO held, and will give traders three unique benefits: trading collateral, gift collateral, and buyback benefits.”
Once issued, EQO-D may be used as a form of collateral when trading perpetual futures contracts on EQONEX “on a 1 EQO-D to 1 USDC basis up to a maximum of 5,000 EQO-D.”
The announcement further noted that EQO-D recipients who have been allocated over 5,000 EQO-D may choose to “gift some of their remaining EQO-D tokens to new or inactive EQONEX customers (terms and conditions apply).”
As stated in the release, the third benefit to recipients of EQO-D is the “buyback utility in which the EQONEX exchange will buy back eligible EQO-D.” Qualified or eligible EQO-D holders will “benefit from a buyback pool of 200,000 USDC and be able to earn USDC from their tokens by selling them to the exchange.”
The announcement also mentioned that traders have “until September 19, 2021,to ensure they have 1,000 EQO or more in their EQONEX account to benefit from the EQO-D airdrop on September 20, 2021.”
Traders who sign up, verify their account, and buy EQO can “further benefit from up to $200 in EQO during September 2021,” the update revealed.
Neil Sheppard, Chief Product Officer at EQONEX, stated:
“The upcoming EQO-D airdrop provides an opportunity for EQO holders to experiment with, or increase their, perpetual trading strategies using our advanced trading features such as cross collateral, sub account functionality, and isolated margin whilst benefiting those same holders with increased referral reward opportunities and a buyback.”
To find out more about EQO dollars and to read the whitepaper, check here.
As previously reported, EQONEX is a crypto-assets financial services firm focused on “fairness, governance, and innovation.” The Group encompasses crypto exchange EQONEX and an over-the counter (OTC) trading desk. It also offers “a front-to-back integrated trading platform, Access Trading, a securitization advisory service EQONEX Capital, … hot and cold custodian Digivault, and asset manager Bletchley Park.”
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