What is Liqueth?
Liqueth (LQTH) – The ETH-backed token is a bond-backed token based on proof of staking reserve protocol i.e the tokens will be generated in a 1:1 ratio of the Ethereum staked through the validator. The token will be an ERC-20 token and will be minted only when the ETH is locked in CoinDCX and sent for validator creation. Each token is backed by Ethereum is the reserve and it is fairly minted with no founder or team rewards. The most important utility of the token will be liquidity. Liqueth (LQTH) will be pegged to Ethereum’s price and tradable on CoinDCX markets.
Liqueth (LQTH) is specially designed to propel CoinDCX’s community’s contributions towards Eth2 upgrade in return for a myriad of benefits that holders and users of LQTH will be getting in the future.