BlogCommunityWhy EQX is Worth Watching in 2021

Why EQX is Worth Watching in 2021

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The crypto space, since the launch of Bitcoin by anonymous developer Satoshi Nakamoto, has seen the rise and fall of various trends, from decentralized autonomous organizations [DAO] to non-fungible tokens [NFTs], and now decentralized finance [DeFi]. 

Albeit a new trend, the decentralized finance market, unlike other trends before it, has opened up limitless opportunities for the growth of the crypto market. Currently worth over $96 billion according to CoinGecko [at the time of writing], it is reported that the nascent trend presently has a 15.32% control of the market. Astounding, right? 

Whilst on the path of widespread adoption, the billion-dollar market is faced with a couple of stumbling blocks, one of which is its complex and inaccessible nature. Lack of interoperability between traditional banking systems and blockchains is also a foremost sticking point of this emerging yet burgeoning market. 

In addition to these problems, digital asset holders have over time become accustomed to limited investment, trading, and secure custody options. Investors are presently on the lookout for professional, safe, convenient, and secure banking activities as well as platforms. 

To resolve most of these problems and set the DeFi market on the path of mass adoption, the EQIFI platform was developed. Powered by EQIBank, one of the world’s leading licensed and regulated digital Banks, EQIFI is on a mission to become a global leader in DeFi. This blockchain-based protocol is on the path of delivering more financial products than any decentralized system. 

Through its native token, EQX, the EQIBank-powered project seeks to pioneer a radical shift in the modus operandi of the billion-dollar DeFi market. 

The EQX Token; Worth Watching? 

EQX, one of the most advanced and useful tokens to watch out for this year, is a utility token that runs the EQIFI ecosystem. 

A self-governing ecosystem, the EQX token, according to the development team, will provide token holders with unreserved rights to take part in the overall governance of the ecosystem. EQX holders will propose and vote for new features to be integrated into the network. 

Token holders will receive rewards in the form of interest each time staked or locked up assets are borrowed. Additionally, they also earn as much as 25% annual percentage yield [APY] as well as other passive income revenues for simply holding EQX. 

On the EQIFI ecosystem, token holders will get a better loan-to-value [LTV] ratio based on the number of EQX they hold. Staking bonuses are also provided. The EQIBank-powered project offers users preferential bonuses regularly for simply staking assets in a liquidity pool. 

Finally, EQX guarantees users on the network reduced fees for each operation executed. 

“EQIFI reunites DeFi features and products in a single place” 

Aimed at addressing the problems facing investors and the DeFi scene, EQIFI through an array of unique features will seek to pioneer a requisite change in how the market functions. Speaking to reporters, Ioana Frincu, Chief Technology Officer [CTO] of EQIFI had this to say; 

DeFi gives individuals the opportunity to be part of a community collaborating for everyone’s benefit transparently. For example, if multiple parties provide liquidity to a system, they are proportionally remunerated for that. Unfortunately, in traditional finance, sometimes you are even punished for providing this (see ING’s negative interest on deposits in the Netherlands). 

EQIFI reunites different DeFi features and products in a single place, offering to its users the opportunity to lend, borrow, stake, or access the best yield out there. Until now DeFi has been retail-oriented but starting with EQIFI, both retail and institutional clients can benefit from the same ecosystem, on equal footing”. 

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