- CoinDCX announces the launch of the litepaper of its ETH-backed token – Liqueth (LQTH)
- The litepaper contains the entire roadmap, as well as details on the utilities, LQTH is going to provide to CoinDCX’s users
- CoinDCX, being the hub of innovation, will embrace all the innovations and upgrades the crypto industry will be getting with Ethereum 2.0
CoinDCX is excited to announce the launch of the litepaper of our planned ETH-backed token, Liqueth (LQTH). With almost a million-dollar worth of ETH already staked on CoinDCX, the LQTH tokens will be generated in a 1:1 ratio of the ETH staked through CoinDCX. LQTH is an ERC-20 token that will be supporting the staking as well as validation activities on Ethereum’s blockchain. This Litepaper provides a clear summary of the key points and information about our token, which is planned to launch in the future to help our community take the best advantage of the Eth2 upgrade and benefit them with multiple utilities on CoinDCX’s platform.
This litepaper contains more details about Ethereum 1x, the reasons behind Ethereum 2.0, how Ethereum 2.0 functions, the various challenges that people had to face with the conditions mentioned, and finally the solution that CoinDCX is providing to the community. This litepaper also contains a description of the Ecosystem and the Roadmap of the token. It also highlights the different reasons why ETH 2.0 was needed, how ETH 2.0 changes the scenario, and how CoinDCX has supported this upgrade by providing its solution to the crypto community.Liqueth Litepaper
ABOUT ETH2 UPGRADE
December 1, 2020 -, Ethereum, the world’s second-largest cryptocurrency, has announced to upgrade its consensus mechanism from Proof of Work to Proof of Stake. The Foundation has named the upgrade Ethereum 2.0. An upgrade in the network’s consensus mechanism has always been a topic of discussion.
While Proof of Work compels miners in the network to compete with one another to win rewards, nodes, or validators in the Proof of Stake protocol leads all nodes to work together to validate transactions. This shift will not only solve the scalability and accessibility issues but also be more environment-friendly.
This token can also be used as an exchange utility token to get benefits on trading fees, airdrops, rewards, and more! The wait will soon be over as CoinDCX will launch a token that is not only ETH backed, but it is community-backed too powered by the most-awaited technological transformation on the world’s most widely used Blockchain. As mentioned above, CoinDCX will create an ecosystem for its community to reap the benefits of Ethereum 2.0 and this token will serve as a fuel that will be powering this ecosystem providing a series of benefits to its users.
CoinDCX’s take on Ethereum 2.0
CoinDCX has always been at the forefront of embracing new innovations in the crypto industry. We extend our support and eagerly wait to see what lies ahead of the Phase 0 launch for Ethereum 2.0.
November 11, 2020, CoinDCX announced that it is preparing to launch an ecosystem for its users to get the benefits of Ethereum 2.0. One of the most pivotal products CoinDCX launched for this ecosystem was ETHEREUM STAKING where you will be able to receive rewards as high as 20% APR. To stake ETH on CoinDCX, all you need to do is deposit a minimum of 0.1 ETH. That’s it. Just deposit and approve staking your ETH, CoinDCX will handle the rest. You will not be charged any upfront maintenance or installation costs from our side. This is why we have called it- No Stress Staking. On Ethereum, the staking reward may vary from 6% to 20% depending upon the network rate.
November 26, 2020, CoinDCX announced it is going to launch a community-driven ETH-backed token which is going to be a crucial part of this ecosystem mentioned above. That token is here, and it is called Liqueth (LQTH.
— CoinDCX: India’s Largest Cryptocurrency Exchange (@CoinDCX) January 16, 2021
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Liqueth (LQTH) is specially designed to propel CoinDCX’s community’s contributions towards Eth2 upgrade in return for a myriad of benefits that holders and users of LQTH will be getting in the future.
Read in complete detail about Liqueth (LQTH) here.