Alqo and Bitfineon

ALQO
ALQO
Mar 18, 2018 · 4 min read

As we have already mentioned, the planning phase for our upcoming exchange, named Bitfineon, is over. After the decision of not conducting an ICO for Bitfineon, we had to re-balance a lot of our main plan, but in the end, we are very happy with the outcome of the last few weeks.

All rights reserved. © Bitfineon GmbH i.G.

About Bitfineon

As you already know, the Bitfineon Exchange will allow Alqo to grow even further together with its so called “Planetary System”. The decision of launching an exchange was already on our minds back in July 2017, when we started working on Alqo. The main reason for this, is to bridge huge gaps in the crypto scene, such as enabling easy access to cryptocurrencies, or a truly secure storage of your coins on an exchange. We will try to fill these gaps with an exchange based in Switzerland, with the help of professional lawyers and security experts from in and around Zug.

Founding Bitfineon GmbH

All rights reserved. © Bitfineon GmbH i.G.

Finding the right place and people for Bitfineon was hard work, but in the end, we were even able to connect to important persons from Zug who support our attempt at a cryptocurrency and fiat exchange for Europe and the rest of the world. With these newly established connections, we will be able to establish Bitfineon as laid out in our vision, without the accompanying challenges. Bitfineon will be fully regulated and will face no difficulties in terms of any upcoming regulatory policy changes relating to the cryptocurrency market.

Alqo’s role in Bitfineon

Alqo will play a major role for Bitfineon. In general, Bitfineon will be powered by Alqo. To explain this: to jump start the development of Bitfineon, we will use a portion of the upcoming Alqo developers fee. In return, Bitfineon will pay Alqo’s marketing expenses once it’s up and running.

That’s not all.

For Alqo investors, Bitfineon will become the third arm in the Libra Effect. We thought a lot about how to implement and find a good solution for this idea, and decided that this is the only tractable, long term approach.

This will not affect market liquidity negatively, since it will always balance itself. Based on our calculations, around 600 Masternodes are needed to guarantee a stable network for Alqo. Since we have a lot more than this, losing some Masternodes and having those Alqo stored on Bitfineon will not hurt the infrastructure of the network. But this will even provide a little bit more liquidity for Alqo since not that much Alqo is locked in masternodes, but in the more easily accessible storage of Bitfineon.

How will Alqo earn Revenue of Bitfineon?

Alqo’s new Ticker. All rights reserved. © Alqo Universal UG (haftungsbeschränkt)

Lock your Alqo at Bitfineon

At Bitfineon, you will be able to lock your Alqo in order to earn a revenue share of Bitfineon. This revenue will be paid out directly to your Bitfineon account in either Alqo, Ethereum or Bitcoin. The minimum time frame for locking your Alqo in order to receive a part of the Revenue is 24 hours. This means your Alqo will need to be locked for at least 24 hours to begin accumulating revenue.

Fixed time frames

In order to have a simple system for making those calculations, a Bitfineon day starts at 0:30 AM UTC and ends at 23:30 PM UTC. For you this means that you will have to lock your coins at Bitfineon by 23:29 PM UTC at the latest to begin accumulating — starting the next day. So your first payout will arrive at around 23:59 PM UTC the next day. So there will be payouts every 24 hours at Bitfineon.

Unlocking Alqo stored at Bitfineon

Unlocking your Alqo stored at Bitfineon only takes one click. After this and a short waiting period, your Alqo will be released for trading or withdrawals. But keep in mind that this will reset your lock-timer. Next to your locked alqo you will always be able to see if you are eligible to earn revenue or when the next payout is due.

Other benefits

These are not all the benefits for Alqo Users. You will also be able to pay the fees of non Alqo pairs in Alqo with a 50% discount. Sounds familiar? Yes, we took this idea directly from the global player Binance since we believe this will give Alqo one more use case and generate even more liquidity. Any Alqo that is locked for Bitfineon Revenue Share will not able to be used as trading fee payments.

More benefits will follow

Alqo users may receive airdrops of new coins and tokens, or will help you in participating in contests. These and other benefits will follow once Bitfineon and Alqo are fully available to the public.

Which revenue will be shared?

50% of all transaction fees of all non fiat and non alqo pairs will be shared.

We at Alqo and Bitfineon wish you a good time.

ALQO

Written by

ALQO

ALQO is a multipurpose cryptocurrency driven by it’s own network. Visit : alqo.app for further information.

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