Quoine Liquid, the platform developed by Mike Kayamori and Mario Gomez in 2014, became widely known in 2017 when it became the first cryptocurrency company to be officially licensed by the FSA, Japan’s Financial Services Agency.
In this review, we will be focusing on QASH (pronounced “cash”), the native currency of the platform above. QASH is the primary weapon with which Quoine Liquid aims to solve the liquidity problems that currently seem to be plaguing the crypto industry.
How does the Quoine Liquid platform work?
To take on this monumentally ambitious goal, Quoine Liquid combines two smartly designed mechanisms/offerings: World Book and Prime Brokerage.
In short, the World Book smootfhly combines order books from different exchanges to one big order book with added fiat-pairs. This provides traders from all corners of the world with the possibility of using a great number of fiat currencies to purchase or sell crypto.
World Book consists out of a matching engine (ME), a cross-currency conversion engine (CCCE), and a smart order routing system (SOR). The ME has the ability to process millions of transactions per second, and it includes support for the major token pairings. It’s designed from the ground up to offer enough scaling power to encompass all new pairings.
The CCCE ensures automated and quick conversions between multiple currencies. It is also designed to ensure an increase in the number of possible matches. Finally, the SRO component is responsible for monitoring all major exchanges and externally competing for orders that can’t be fiddled by default by from the World Book.
The job of the Prime Brokerage component is to provide users with direct access to all exchanges in the World Book without them having to create an account for each one. With the help of Prime Brokerage, users can also extend a credit line and leverage trades.
The QASH token
As mentioned before, the QASH token is the asset used to pay for services on the Liquid platform. It also allows its holders to receive discounts, promotional products, and various other investment opportunities.
Currently ranked 93rd on CoinMarketCap, QASH is worth $0,109308. The circulating supply is of 350,000,000 QASH out of a total supply of 1,000,000,000 QASH. It’s worth noting that a token sale was held in November 2017 where 33% of the maximum supply was issued in exchange for somewhere around 106,000,000.
300,000,000 QASH are allocated to the community, 200,000,000 QASH belong to the team and shareholders, and 150,000,000 are held by strategic partners and institutional buyers. Other interesting aspects about the QASH token include the fact that it’s a utility token of ERC-20 format and that it cannot be mined or staked.
It’s also worth noting that the project intends to move away from Ethereum and create its own blockchain, by which time the QASH tokens will be rebranded to Liquid tokens.
Where to buy QASH
QASH started trading in November 2017 and has since then become a lot more popular. QASH can be purchased directly on Liquid, as well as on more popular exchanges such as Huobi, Hotbit, Gate.io, Ethfinex, and GOPAX. Since most of these exchanges are crypto-to-crypto exchanges, users are required to first buy either Bitcoin and Ethereum (because these are the two most popular trading pairs). A full list of exchanges from users can buy QASH is available on CoinMarketCap, on the dedicated Markets section.
Where to store QASH
Since QASH is currently an ERC-20 token, it can be stored on any Ethereum-compatible wallet. One of the most popular choices for ETH and ERC holders is MyEtherWallet, a very good online storage solution that does not compromise security like most similar services. Another very good wallet is Jaxx, especially for users who need to access their funds from a wide range of devices.
For more privacy and security-oriented users, a hardware wallet is a better option. In this case, spending some money on a Ledger Nano S or a Trezor wallet is definitely worth it.
As it stands, QUOINE LIQUID is an ambitious and appealing crypto project that aims to bring liquidity to cryptocurrency investments through technologies such as World Book, Prime Brokerage, and QASH token. So far, the team managed to keep the project of a positive track landing lots of business partnerships. If the project’s own blockchain launch will be a success and if the token sees more adoption, Quoine Liquid might become of the greatest projects in the sphere.