CEO and Co-founder of QUOINE, Mike Kayamori states:
There are many incentives for token holders both for the long term and short term. But the biggest incentive is the utility of QASH expanding especially in the fintech ecosystem.
We envision QASH to be the token of choice for fintech and financial institutions.
At a micro level, as we are the issuers of QASH, we will work with Fintech Startups to structure promotions and incentive schemes for their users. For example, we can jointly do discounts only for QASH token holders. Another advantage for the token holders would be to get early access to QASH connected Fintech services. As the QASH enabled ecosystem grows, the utility of QASH will grow as well.
We had a call with Bloomberg today. You would be surprised that we have been in discussions for the past 6 months (just to highlight, this is how slow traditional financial institutions work).
So how do you start out?
We will be providing the following to start out:
· BTC/JPY
· ETH/JPY
· ETH/BTC
We will then make sure that they will handle QASH prices as well.
The beauty of this is that one of our Chief Architects worked at Bloomberg. Our Management Team worked at large financial institutions. For the Crypto token to become mainstream, we need to dance with them. So, coming from the traditional side does have its benefits! Burning tokens actually pumps up the price as they are trying to depress supply.
At the end of the day, QASH will be the preferred token for financial services (especially fintech startups). Hence, we would like to have a gradual price appreciation. Unfortunately, we won’t be able to control price and we shouldn’t, but with some of the exciting pipeline, we are excited.
Volatility on the other hand is something that will become better over time when:
More sophisticated financial instruments become available such as options, futures, swaps. For a merchant who wanted to hedge the future price of Crypto, it is almost impossible today. This is not because of technology but more because of regulation.
A crypto needs to have certain level of market cap to become more stable. Approximately should be around USD200B. Bitcoin is still USD70B, so it needs to at least triple from here.
Having said that, we need multiple liquidity partners to sustain a healthy crypto ecosystem. We are proud of the fact that we are the first ones to do it in scale.
What does this mean in terms of liquidity?
We will offer QASH listing on QRYPTOS and both QUOINEX EN and QUOINEX JP (pending JFSA approval) from Day 1 of listing.
What is the utility of the token and how does that connect to the value of QASH?
Andre Pemmelaar our Chief Trading Officer shares:
Here are some examples for you to understand.
Case 1:
You trade ETH on LIQUID and you have a choice to pay your 10bp fee in fiat, ETH, or QASH. How much are you willing to buy QASH for? Well any price that is less than the cost of buying 10bps worth of ETH means you just paid your fees at a discount. So this sets up a natural demand for it and creates a theoretical price for it. Too low a price means it is better to go buy QASH and use it. Also, it establishes a clear value relationship between the value QASH and other Cryptos.
Case 2:
Let’s say you are an exchange that has partnered with us. And we share the same client. She sold on one exchange receiving fiat and went long on the other and now is holding crypto there. Now to complete this arb she is going to need to swap her fiat and crypto (e.g. send them to the opposite exchanges). Normally, the crypto isn’t too hard to move but the fiat takes time, money and is very inefficient. But what if QASH could be used as the currency of settlement between the two exchanges? We (the exchanges) would agree to net it out with QASH. This would free up a lot more capital that arbs could deploy to increase liquidity.
Hence, the utility and demand for QASH goes up significantly.
QASH Token Sale Website (and registration): https://liquid.plus
Whitepaper download: https://liquid.plus/quoine-liquid_v1.5.pdf
Join our Community's Telegram: https://t.me/QUOINE
ABOUT THE COMPANY
QUOINE is a leading global fintech company that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, QUOINE combines a strong network of local partners with extensive team experienced in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com
In 2014, QUOINE launched Quoine Exchange, now known as QUOINEX, which became one of the largest bitcoin exchanges in the world by transaction volume. QUOINE offers powerful trading features, a sophisticated user dashboard, and secure regulatory compliance to individual and corporate customers. QUOINEX provides trading services for bitcoin and fiat currency pairs in Japanese yen, US dollar, Euro, HK dollar, Indonesian rupiah, Singapore dollar, Philippine peso, Indian rupee, Australian dollar, and Chinese Renminbi. QUOINE has exceeded USD 12billion in transactions in the past two years. In September 2017, QUOINE Corporation became the first global cryptocurrency exchange to be officially licensed by the Japan FSA. More information can be found at www.quoinex.com.
In June 2017, QUOINE launched a fully digital cryptocurrency exchange and trading platform called QRYPTOS, exclusively for cryptocurrency trading in desktop version at www.qryptos.com.