INTRODUCTION
INTRODUCTION
The end of the project
28th January 2024
For awhile we observed almost no interest of the users in our project, which was confirmed by a survey on X (formerly twitter).
Finishing the development of the project would still require approximately a year of work, which is together with low interest very demotivating. All token holders were paid the full price of EQT V2 they hold. Price was determined as highest dollar price of EQT V2 among all 3 blockchains where EQT V2 exist. The payouts were done in form of MATIC on the polygon blockchain.
The full list of payments can be checked using one of the following links (there is excel sheet packed in .zip):
https://ipfs.io/ipfs/bafybeiaghytaxekwi4rkmjp5e6vzhxvrgrx475nb6dou66d62shlnuef5m
https://bafybeiaghytaxekwi4rkmjp5e6vzhxvrgrx475nb6dou66d62shlnuef5m.ipfs.nftstorage.link
(The content of this website will be kept for the case that we'll ever decide to continue with the development)
Connecting Two Worlds
Blockchains are a whole new digital world consisting of thousands of individual projects. We live in another world - the physical one.
Our goal is to create a simple way to connect tokens or other assets of projects on the blockchain to the value of anything existing in the physical world.
You can now create your own project and use Equivalence Protocol to assign it the value of anything your creation is supposed to represent.
Investment Opportunity
As a new project, the Equivalence Protocol has great potential for growth.
You can invest in the native token of the project, participate in the rewards program to receive some EQT over time, or become a liquidity provider and receive a portion of the fees charged by the liquidity pool of your choice.
For details about the rewards please see the section "Fees and Rewards".
Safe Haven
Our project began it's existence in the year 2023, shortly after the crypto market had gone through a lot of hardships.
You surely know the discomfort of not knowing what is going to happen to the value of your assets in difficult times for the market, but at the same time you may not want to withdraw it and convert it into fiat money.
This was one of the main reasons why our project was created. When you hold EQT, you can convert EQT to the connected asset-referenced tokens to hold value in a stable and time-verified assets like for example gold, you can even create a new asset-referenced token that suits your needs best.
By doing this, you're not leaving the blockchain and in a few clicks you can convert your asset-referenced tokens back to EQT, sell it, or participate in rewards program.
To convert the tokens check the tutorials to find out how to do it manually, or wait for updated version of our application compatible with the Equivalence Protocol V2.
How it Works
The principle is simple - when you decide to exchange your Equivalence Tokens (EQT) for a connected asset-referenced token, let's make it for example "Gold", you will set how many Gold tokens you want to get. After you approve spending your EQT and confirm the transaction, the contract will mint new Gold tokens into your wallet and at the same time burn that amount of EQT from your wallet, which have the same monetary value as those Gold tokens. The current price of EQT doesn't matter - if it's low, more EQT will be burned, if it's high, less EQT will be burned - it will match the value of Gold tokens you want to receive, in other words - it will provide the equivalent value of the Gold tokens, hence the name Equivalence Token.
When you decide to get your EQT back, it will be exactly the same process, just the opposite way - Gold tokens will be burned and new EQT will be minted to your wallet. Again, the price of EQT won't matter, you'll receive as many EQT as necessary to give you the equivalent value of your gold represented by the Gold tokens.
Would you like to know more? Then have a look at "About the Project".
Create Your Own Custom Tokens
If you ever wondered what it would be like to make your own crypto, now is your chance!
Code prepared by us for a previous version of an asset-referenced token unfortunately won't work as-is with the new version of Equivalence Protocol, but you can use it as a reference and with a small changes create your own asset-referenced token.
All you need is available in this section: "For Developers".
If you don't have any programming skills, don't worry - new and more advanced version of the smart contract code will be prepared by us soon, very likely before the end of 2023. Without any programming skills you'll be able to use it and easily create your own E-money or Asset-referenced token.
If you create your own custom code, please make sure your code is in accordance with our rules for the use of Equivalence Protocol, otherwise we would not whitelist your token.
