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The cryptocurrency market is currently flooded with over a thousand tokens that have run ICOS to raise funds for tokens that have a singular application or singular purpose use. These tokens are then used to pay membership fees or transaction fees. The tokens actually hinder the end user instead of taking advantage of a multi-platform token which harnesses a shared community of users and the added benefits of value growth from a multitude of products and the flexibility to develop an unlimited amount of services. The result is not only an inconvenience for token holders but also a fractured token market.
This brings us to the attention of the EQUAL Network Token. A young and self motivated team from Melbourne, Australia self-described as blockchain enthusiasts with a passionate love for technology. The team is currently made up of 5 individuals from Melbourne and 1 developer from Siberia. The team has stayed anonymous as they continue to build the foundation of the team in time for an grand release in conjunction with a brand-new website and wallet release scheduled to be in Q2 according to their roadmap.
EQL feels that this fractured token market may hurt the industry as a whole by leading to an increase in lost investor funds and failed projects. The team sensed that a lot of tokens could easily be replaced by a single utility token that has multi-platform use. EQL’s unique adjustable smart contract allows added functionality for future apps and their self-deflationary growth mechanism creates the ability for long-term stable growth for investors.
EQL believe that the ICO market is dominated by whales who use their sheer power to gain uncontrollable market share of each token sale. EQL’s fair distribution method through airdrop aimed to solve this problem. 40 percent of the Total Supply was airdropped to the large EQL community. This method maximizes decentralization while also using a strongly anti-whale approach for both token creation and distribution.
What is EQL?
EQL Network Token aims to be at the core of an ecosystem of products and services built by the EQL team and community / third-party developers. The EQL wallet will take advantage of the Ethereum network infrastructure through its connectivity to DAPPs and DEXs allowing for EQL to take advantage of pre-existing service providers.
At the time of writing, there was a total supply of 797,589,594 EQL tokens, with 2,410,406 already burnt. There had been 30,042 transactions.
Unique Deflationary Supply (DTB – Deflation through Burn)
EQL is the first self-deflationary token on the market inbuilt within their smart contract. EQL includes a transactional fee of 1 percent, or a maximum of 250 EQL, to allow for sustainable growth. The transaction fee is not designed for any type of profit and will instead be burnt. This process of burning the transaction fee allows the EQUAL supply to constantly decline otherwise known as DTB (deflation through burn). The decrease supply will create relative scarcity and reward holders as their holdings become more valuable over time. They also plan to split the fee into two adjustable parts, 0.5% will remain as a burn fee the other 0.5% will be a staking fee. This will be the first cryptocurrency to adopt a staking system without minting new tokens. This term is regarded as IFS (Incentive for Stake).
Unique Seed Offering/Partnerships Program
The eventual goal of EQUAL is for the EQL token to be the most widespread of all cross-platform utility tokens. The team sees it being used in multiple tech-oriented applications. This goal is directly related to the planned seed partnerships. Established service providers will be able to take advantage of the seed offering of tokens, provided they want to adopt the token and use it within their applications in the form of a reward or in-app currency.
EQL aims to facilitate a solution to the fractured token market by creating a unified ecosystem for community developers. EQL attempts to empower community developers to adopt the EQL platform and build and network of products and services to protect the unity of the market. The empowerment of the community establishes the team’s passion for the cryptocurrency environment and its flourishment going forward.
Roadmap of EQL
The idea for EQUAL was conceived in Q3 of 2017, and Q4 saw numerous advances. These included creating the EQUAL ERC-20 contract, launching the website, airdrop round one for both registration and distribution, the first version of the whitepaper, the first exchange listing, the second round of airdrop registration, and the EQUAL contract swap and redistribution.
Now in Q1 of 2018, EQUAL has already released the second version of the whitepaper, gotten listed on CoinMarketCap and other paid exchanges, had the second round of airdrop distribution, launched the bounty campaign’s first version, and made a dedicated DISCORD active channel that are open to the community where the team lives and constantly converses with community members.
The EQUAL team is currently working tirelessly on product development whilst still maintaining a high level of community interaction. In Q2, the team will launch the EQUAL wallet which endeavours to be able to send any ERC-20 token and in conjunction with wallet release, the team unveil and website rebranding. They will also work on planning a new and yet unannounced service or product. In Q3, they will open the seed offering, make improvements to the EQUAL Wallet which plans to include a unique staking system that enables users to receive stakes without minting tokens. Q4 will see EQUAL listed on either Poloniex, Bittrex, or Binance. In addition, the team plans to attract more investors, create a v3.0 of the roadmap, and launch an unannounced product or service.
- Token name: EQUAL
- Symbol: EQL
- Type: ERC20
- Decimals: 18
- Initial Supply: 800 million (deflationary)
- Contract address: 0x47dd62d4d075dead71d0e00299fc56a2d747bebb
- Website: https://www.equaltoken.io
- Twitter: https://twitter.com/EqualToken
- Telegram: https://t.me/joinchat/GtLjl1JMYiTHzhaQA5CGPw
- Discord: https://discordapp.com/invite/nCY5qgY
- Medium: https://medium.com/@EqualToken
- Reddit: https://www.reddit.com/r/EQUAL_Network/
- BTT: https://bitcointalk.org/index.php?topic=2814625
- WhitePaper: https://www.equaltoken.io/whitepaper_v2.pdf
- CMC: https://coinmarketcap.com/currencies/equal
- EtherScan: https://etherscan.io/token/0x47dd62d4d075dead71d0e00299fc56a2d747bebb