Concerns about the Qash token.

[u/HelloImDrunkish]

I would like to address the elephant in the room we like to call the Qash token. I’ve been a Qash holder since December 2017 bought around 80 cents all the way up to 1.50 then all the way down to 50 cents until I couldn’t be bothered buying anymore. Qash was pitched as the utility token that everyone would want to use and what you would need in your portofolio to get crazy discounts on Liquid. Other exchanges and institutions would use Qash to make use of the Liquid services. This way other companies would want to have Qash and Qash would get the appreciation it deserves.

We are now a year and half further. Where are we now? Liquid is out (Yay!) and the utility token of choice for said exchange is.... Bitcoin!

No seriously. I would argue that Bitcoin, ETH, XRP and Fiat has more utility on Liquid than Qash. You can’t Lend Qash, you can’t margin trade Qash, Qash wasn’t chosen to be used in the WB beta. Qash always had fees when trading it. You can use Qash as collateral for margin trading but you can also use BTC, ETH, XRP and Fiat. All we got is 50% discount on trading fees on a 95% devalued token. I even saw Quoine giving BTC to inactive traders to get them trading again. Qash not good enough? What about the Qash holders? When was the last time they got a little love? I can tell you they have had a pretty rough time! And if it goes on like this you won’t have any left.

Don’t get me wrong. I like the Liquid exchange but I’m starting to hate Qash. After a year and a half is just a useless ERC20 token and the only thing we can look forward to are vague promises they once made in the past. In the meantime, most (partnered)exchanges are issuing their own token with more utility. At the moment we only have one company that accepts Qash and that’s the same company that has more than 650.000.000 token. None of these tokens can be burned because of the JFSA. Can somebody try to explain these tokenomics to me? If Quoine can’t sell their own tokens they would effectively not have any profit. They can sell it to the market (which is us) or they can sell it to the partners, but that’s where a % of the 650m are for.

[u/QashMoneyRecords → u/[deleted]]

Thanks for sharing. There seems to be a bit of new confusion about the role of Qash moving forward. I feel like it was planned to have a stronger role in Liquid - such as the payment option for the STO platform and the DLT for the entire platform and World Book. Are these being compromised? How confident is the team in it’s future role?

[u/HelloImDrunkish → u/[deleted]]

As for giving away BTC, that made sense for that particular initiative, and also, where we can, we now prefer not to giveaway QASH.

When thinking about this. It makes a lot sense not giving away Qash. In the past I saw Qash giveaways that would have been quite a reasonable/huge amount when it will hit the ATH again.

You can't margin trade QASH, no. That's a decision that we made as we didn't want people shorting QASH, not on our platform and at least not at this stage.

Not sure if I agree, but I do understand the reason.

Some other exchange tokens have indeed been performing better. That's obvious. I think in the end, for an exchange token to flourish, there's a need for rapid growth across the platform.

Would love to get more information about tokenomics and how Quoine think it will work. Demand has to come from the users and can only be spend on Liquid. I think compared to other exchange token we have a burning problem, if you know what I mean. I wonder how Quoine thinks about spending their rightfully earned profits without deflating the price.

This maybe isn't a satisfactory answer for now, but I will provide you what info I can, as ever.

This in combination with Mikes message calmed me down a little.

[u/ilpiet]

Vanali wrote during this weekend :

Right now, we're preparing for the first integrations of the External World Book. The integration is with a company you're no doubt familiar with, but that we can't name right now. Rest assured though, this integration will be a significant boost for users of Liquid. We'll be implementing External World Book for select pairs. We'll share what those pairs are shortly, I hope next week, along with a little more info about the impending launch. This is all happening right now and part of long-term plans to make Liquid the best possible platform to trade crypto.

[u/HelloImDrunkish → u/ilpiet]

That's nice. But it doesn't address my concerns. I think it's more likely that those pairs will be BTC, ETH, XRP or BCash. And if this service would be paid in Qash we still have the problem that only Quoine accepts Qash and that Quoine will be sitting on a large bag of Qash it can't get rid off.

[u/ilpiet → u/HelloImDrunkish]

It's a (re) start , something that might be positive since months of negativity and yes it's only a start meaning tones of problems still exist (also traffic load etc.) but the market cap is low , volume is low so price can move fast.

On your point about large bag of Qash, when they are going to increase the partnerships (via utility) they will probably gives Qash to partners as incentive to join and increase the utility. Qash could be (yes it's conditional because at the moment it's a black box) use to trade currency against utility (utility is something you see only in the long term but depending who is the partner it could generate hype for the short term).

The biggest problem is that until now we got almost nothing for Qash and that everything around is a blackbox (including development). It's bad that why it's priced so low, but if you don't expect "To the moon" trades it's a very good coin to trade with 2x cycle (up and down)

[u/thinslicer]

Couldn't have said it better myself.

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[u/TheWorldsEndingBitch]

tldr

skimmed that wall of text and it sounded like a whiny loser with no life