QASH rebrand: say hello to LQC

In Product
“Water is fluid, soft, and yielding. But water will wear away rock, which is rigid and cannot yield. As a rule, whatever is fluid, soft, and yielding will overcome whatever is rigid and hard. This is another paradox: what is soft is strong.” ~ Lao Tzu

For QASH to reach its full potential, it needs to be fully integrated into the Liquid platform, giving our customers special benefits across all the products and features we develop.

The utility of QASH is important for the growth of the platform, but it should also have an identity that represents the values we stand for at Liquid.

This is why, over the next several months, we will rebrand QASH to LQC (Liquid Coin).

We want our community to be proud to hold LQC and to be the driving force behind adoption of this exciting cryptocurrency.

Our goal with Liquid is to offer our customers access to exceptional financial services powered by blockchain technology, bridging the worlds of traditional finance and the cryptocurrency economy.

LQC reflects the Liquid vision of democratizing finance.

The rebrand to LQC complements the next phase of Liquid, Liquid 2.0, which comes with an updated interface and much-improved user experience for our customers.

This will help fuel our growth as we continue to expand globally.

QASH holders do not need to take any action to prepare for the launch of LQC, but you should be aware that the rebrand will happen over the next few months, during which time you may see QASH and LQC used interchangeably.

There won’t be a token swap until later, when we introduce the Liquid Distributed Ledger (LDL).

When we reach LDL mainnet, LQC will be one step closer to becoming a true cryptocurrency.

We will provide commercial grade smart contracts, tools and libraries for fintech companies to build their services on top of our LDL – a distributed ledger built by experts who have years of experience at global financial institutions.

Use cases of LQC

We have previously discussed the use cases for QASH. With LQC, we are now ready to implement more of the features that bring these use cases to life.

Our LQC holders have much to look forward to.

One important change we’re making on Liquid is the introduction of an improved trading fee structure. There will be a single trading fee across all pairs on Liquid, including fiat-crypto and crypto-crypto pairs.

Outside of Japan, this fee for both maker and taker will be 10bps, or 0.1%, on every trade. We believe this is fair and competitive in today’s market.

LQC holders will benefit from this model.

There will be a 50% discount on trading fees when using LQC, reducing trading fees to just 5bps, or 0.05%, across all pairs.

Liquid customers will be able to access similar discounts on fees across the platform, including but not limited to a feature to unlock rapid, secure withdrawals.

With the introduction of flat fees, we will be able to offer a revamped and improved referral program.

You will be able to earn a portion of the fees collected from every trader you refer to Liquid, including those you have already referred.

There will be other benefits to holding and using LQC, including a loyalty program that will reward our most dedicated community members.

We will also ensure that LQC is the preferred settlement currency on Liquid.

Over time, uses of LQC will expand and grow along with the whole Liquid ecosystem. LQC will have a life of its own, especially in places like Asia where there is a need for strong currency.

Next steps

We will begin the rebrand of QASH to LQC and implement the new trading fee structure. We will keep you informed about the process here, on Twitter, in Telegram, on Reddit and over email.

Over time will come the introduction of additional utility features that will take us deeper into the next phase of Liquid evolution.

LQC holders will appreciate and benefit from the growth of the platform and the token economy. As the platform expands and we welcome more customers, we will increase exposure to LQC.

It’s going to be a big year for Liquid.

We will be making fundamental improvements to our platform.

  • We recently introduced credit and debit card deposits to bring extra flexibility to our funding options.
  • We are implementing secure, rapid withdrawals, one of our most requested features from our community.
  • The Liquid Pro mobile app will put the power in your hands.
  • We’re also making improvements to our API and considering to list popular, in-demand crypto tokens and additional fiat currencies.
  • Finally, we will continue to add support for more languages to increase our global presence.

Looking at the bigger picture, we have a number of major projects coming.

  • Liquid Infinity, or Perpetual Swaps, which are essentially futures contracts with no expiry or settlement.
  • The Liquid Distributed Ledger is a technology aimed at the fintech space.
  • Liquid Vision will be our in-platform suite of social tools.
  • Custody solutions are coming.

Thank you for being a part of this incredible journey.

This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.

WRITTEN BY

Mike Kayamori

CEO and Co-founder of Liquid.