EQUAL prides itself on being a multi-platform utility token that is distributed fairly and has a self-deflationary total supply. The goal of EQUAL is facilitating an ecosystem with services and products that receive power, funding, or incentives via the EQUAL ERC-20 token.
Simply put, this multi platform token is designed to unify digital services by being usable on multiple applications instead of just working on a single application or platform. The notable features of EQUAL include a rapidly growing community, self-deflationary nature, and future seed offering program.
Why Did the Team Create EQUAL?
The team behind EQUAL looked at the current cryptocurrency world and the numerous number of tokens. They specifically paid attention to the trend that developers run ICOs to raise money for their tokens that work only on their application. Those tokens are then used to pay membership or transaction fees. However, they can undergo a value decline in comparison to Ethereum. Because of this decline, 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 not one project but many that utilize EQL at their core.
The result is not only an inconvenience for token holders but also a fractured token market. EQUAL feels that this saturated ICO market might even hurt the industry as a whole by leading to an increase in lost investor funds and failed projects. The team realized that all these tokens could easily be replaced with a single utility token that works on multiple platforms. By working in a self-deflationary growth mechanism, they could also ensure long-term stable growth and connect multiple applications. They created EQUAL to provide these functions.
What Is the Ultimate Goal of EQUAL & How Does the Seed Offering Play a Role?
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 offering. 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 currency in-app.
What Should You Know About EQUAL’s Self-Deflationary Nature?
EQUAL includes a transactional fee of 1 percent, or a maximum of 250 EQL (EQUAL), to allow for steady and 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. That decrease of tokens increases the value of each token since the percentage of ownership each token holder has gradually rises in relation to the supply that circulates.
What Is EQL?
EQL Network Token is at the core of an ecosystem of products and services built by the EQL team and community / third-party developers. EQL takes 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 797,777,211 EQL tokens, with 2,222,789 already burnt. There had been 27,706 transactions.
- Token name: EQUAL
- Symbol: EQL
- Type: ERC20
- Decimals: 18
- Initial Supply: 800 million (deflationary)
- Contract address: 0x47dd62d4d075dead71d0e00299fc56a2d747bebb
What Should You Know About the Airdrop?
The team at EQUAL decided to forgo the traditional ICO for multiple reasons. This includes that ICO presales typically favor whales who use the high transaction fees to get tokens. One-hundred percent of the tokens allocated for distribution will be transferred via airdrop. This method maximizes decentralization while also using a strongly anti-whale approach for both token creation and the distribution. Twenty percent of the total tokens were allocated for each the first and second round of the airdrop.
Another 30 percent of tokens were reserved for the seed offering for those established server providers. Five percent goes to community activities and the Bounty Campaign. The final 20 percent is for the EQUAL team, as well as internal product development for applications that are EQUAL-oriented.
What Does the Roadmap Look Like?
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 DISCORD groups that are open to the community.
The final goal for Q1 of 2018 is voting bounties for the exchange community. In Q2, the team will launch the EQUAL wallet and release the bounty campaign v2.0. 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, develop that same unannounced product or service, and conduct v3.0 of the bounty campaign. In addition, the team plans to attract more investors, create a v3.0 of the roadmap, and launch their first product or service.
The team behind EQUAL has a very valid point in the reasoning behind the introduction of the EQL token. The market is indeed fractured and overwhelmed with tokens created for ICOs and then left to stagnate or occasionally decline. EQUAL should be an excellent alternative, provided the team can convince those in the crypto and blockchain world to use EQL instead of creating their own token. Given the current trends, this may pose a challenge at first, but it should become easier as more people in the industry see the advantage of EQUAL.