African Crypto Exchange, Quidax Raises Over $3 Million on the Worst Day of Crypto

Financial ServicesBlockchainCryptocurrency

By AIT News Desk On May 25, 2021

Sells out its native ecosystem token, QDX in less than 48 hours

On what could be tagged as the worst day of crypto this year, African-founded exchange, Quidax, raised over 7,772 BNB ($3 million) from the public sale of its token, QDX. The crypto market suffered its first major dip in 2021 on Thursday, May 19, with Bitcoin dropping as low as $30,000 from highs of $64,000. In spite of this, the public sale of QDX sold out in less than 48 hours.

Recently, Quidax announced that it had processed over $3 billion in transaction volume since its launch in 2018 with over 400,000 customers across more than 70 countries. In the announcement, Quidax also shared a shift from its African-focused strategy to becoming the global home of BEP20 tokens.

Next Steps for Quidax

On Friday, the exchange revealed that $QDX will be listed on its platform and DeFi platform, JulSwap, from Sunday, 23rd May, where anyone will be able to trade QDX.

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Quidax also unveiled its QDX roadmap that highlights the next developments within the QDX ecosystem. The revelation included the listing of several tokens including BNB, DOGE and SHIB.

As part of its roadmap, the first major product in the QDX ecosystem, QDX Vault will enable people to stake their QDX tokens and earn token airdrops from every other token that gets listed on the exchange.

Additionally, an airdrop has been scheduled in June for Quidax and JulSwap community members that hold QDX.

The QDX roadmap also indicates the launch of a self-service listing that will go live in August. This unique feature will serve BEP20 projects looking to list their tokens on Quidax’s exchange within 24 hours.

A fast-growing ecosystem

The Quidax ecosystem continues to grow with partnerships. One such partnership is with blockchain analytical firm, Chainalysis. Also, Quidax recently revealed that it would be listing Wall Street Games Token (WSG). Wall Street Games is one of the biggest blockchain-based gaming platforms and this development shows the commitment towards building a unique ecosystem.

Apart from its instant exchange & order book services, Quidax enables OTC trading for institutions and gives fintech companies the tools to offer cryptocurrency services to their customers through a dedicated plug and play API.