Published on 02 February 2022

Updated on 03 February 2022

What is happening?

Liquid Group and all of its operating subsidiaries including Quoine Corporation (Cryptocurrency Exchange Business Kanto Finance Bureau Director No. 00002) and Quoine Pte. in Singapore are being acquired by FTX Trading Ltd.

When is this happening?

The acquisition is expected to close by the end of March 2022.

QASH and Liquid Chain (LQT)

What will happen to QASH?

In the near term, there will be no changes to QASH utilization at Liquid:

  • Users of Liquid will benefit from a 50% reduction in trade fees when paid in QASH

  • ~50% of all trade fees are burned on a weekly basis. More information can be found on the QASH Burn page: QASH token burn schedule.

  • The Liquidity Pool Program is launching on 07 February 2022. The QASH rewards distributed to liquidity providers will also be burned 1:1 basis in addition to the weekly QASH trade fee burn: Earn rewards with Liquid's Liquidity Pool Program.

  • More important announcements about QASH utility will be made in February 2022.

What will happen to Liquid Chain?

The Liquid management team is preparing an announcement about Liquid Chain that will be shared with the community in the next ~2 weeks.

About FTX

Who is FTX?

FTX is a crypto asset exchange founded by traders, for traders. FTX.COM has grown rapidly since its inception in 2019 to become one of the most highly regarded crypto asset exchanges in the world offering spot, derivatives, NFTs and other innovative products & services.

If I have further questions, who can I contact?

If you have any further questions or clarifications, please do not hesitate to send your questions.

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