Quidax, the popular Nigerian crypto exchange, has announced its plans to launch an exchange token, $QDX, and expand its offerings to become the home of Binance Smart Chain (BSC) BEP20 tokens.
Quidax has partnered with the fast-growing JulSwap, a leading BSC decentralized exchange, to launch the QDX token on 17th May, 2021 through the JulPad launchpad.
Quidax says it will be launching over 100 Binance Smart Chain (BEP20) tokens allowing users to buy, sell, and trade a mix of centralized and decentralized finance tokens right within the exchange.
The QDX token will be the native token of the Quidax exchange. The token will have the following use cases:
- Allow holders to vote on important decisions such as new coins to list
- Enable customers to get discounts on trading fees
- Allow holders to receive rewards for participating in competitons and other activities
- Trade and swap other coins
Quidax launched in 2018 and has grown to have a customer base of over 400, 000 as of May 2021 with over $3.2 billion in transactions processed since inception.
The latest move by Quidax follows similar initiatives by Nigerian exchanges following the recent crypto ban by the Central Bank of Nigeria as they seek to innovate and remain relevant in the changing regulatory environment.
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