What is QASH?
QASH (QASH), otherwise known as the QUOINE Liquid Token, is an Ethereum-based token launched to fund the creation of a new cryptocurrency exchange, called Liquid. QUOINE, the company that founded exchanges QUOINEX and QRYPTOS, has the goal of using QASH as the basis for building a new universally-accessible exchange for the benefit of both users and token holders. When completed, the Liquid exchange will support not only a wide array of cryptocurrencies but fiat currencies as well. By supporting the services of brokerage firms around the globe and connecting their exchange to the processes of banks, institutional investors and regulators, Liquid plans to have significantly more access to capital and trading volumes than traditional exchanges, helping to create better price discovery by integrating the properties of outside markets.
History of QASH
QUOINE, the company behind the creation of QASH, was cofounded in 2014 by Mike Kayamori and Mario Gomez Lazada. QUOINE’s two exchanges, QUOINEX and QRYPTOS have the distinction of being the first Japanese exchanges to be regulated by the Japan Financial Services Agency. 500 million QASH were offered for sale during the company’s ICO process, which ran through November 2017. By early December, QASH had already reached the $100 million mark in terms of market capitalization value, which briefly surpassed $800 million only a month later. QUOINE, soon to change its name to Liquid, is currently one of the most popular cryptocurrencies exchanges in the world, conducting on average $170 million in trades every 24 hours. After the launch of Liquid, QASH will be known as the Liquid token.
How QASH Works
Not just a basic Ethereum token, QASH has several main benefits as being the official currency of the new Liquid exchange. It will act as the preferred payment token for financial services offered by QUOINE, as well as be used as the primary method of payment for financial institutions, fintech startups and its partners. Its utility as a cryptocurrency will therefore scale with the growth and success of QUOINE and Liquid. After the launch of Liquid, QASH (to be renamed the Liquid token) will take on additional utilities and functions, including access to special platform functions and services.
In addition to acting as the preferred payment token for QUOINE’s financial services, QASH offers the following benefits as a cryptocurrency:
ERC20-compliant token. As an Ethereum-based token, QASH enjoys all the benefits that come standard to being part of the Ethereum network, including advanced blockchain security, smart contract interoperations and fast transaction times.
Payment for financial services. Among financial service and technologies partnered with QUOINE, QASH will be accepted as a method of payment, as well as for services offered by QUOINE themselves.
High liquidity. QASH is currently traded on 13 different cryptocurrency exchanges, including several decentralized exchanges (DEXs), making it a highly liquid token that is widely available for purchase.