EquityPay claims to be a self-growing community of entrepreneurs that transact with each other under community-made laws. The blockchain will act as the base for an E-commerce marketplace similar to Amazon, where members would indulge in the sale and purchase of goods amongst themselves.
Today, we will dive deep to understand EquityPay and also analyze the EQPAY token and its price performance over the years to determine whether it is a legitimate project.
So, without further ado, let’s get started.
What is EquityPay?
EquityPay is a self-growing community comprised of entrepreneurs with the highest ethics. The goal of the community is to build marketplaces where the members would interact with each other by selling and purchasing various goods and services.
The team intends to build E-commerce platforms similar to Amazon and Fiverr that will be dedicated to buying and selling the various services offered by businesses registered on EquityPay. This will be followed by the creation of an educational platform similar in line to Udemy.
These websites will be exclusively available to EquityPay members, while the services offered on the network will be paid for in the blockchain’s native token EQPAY.
What is an EQPAY Token?
EQPAY is the native cryptocurrency of the EquityPay blockchain. The token would predominantly be used for paying for goods and services offered on the platform, including its E-commerce, educational, and service-oriented marketplaces, and as a token for community members to vote on governance decisions.
Apart from this, the EquityPay community has developed a rewards app called the DragonFly App that will run a referral program. The EquityPay development team has allocated 7 million EQPAY tokens for the purpose.
Additionally, several apps developed by the EquityPay team will be publicly available in the coming months, including the DragonFly Wallet that can be used to securely store EQPAY tokens.
You can earn also EQPAY tokens through a 3-year-long referral reward program by inviting others to use the DragonFly wallet.
What Is EQPAY Tokenomics?
The first EQPAY tokens were mined in September 2021. Out of a maximum supply of 18 million tokens, 9 million EQPAY are slated for distribution. However, no tokens are in supply.
At the time of writing, EQPAY is trading at $0.0677 – up over 30% in the last 24 hours. Despite having a $0 market cap, EquityPay was able to achieve a 24-hour trading volume of $268,486. The fully diluted market cap of EQPAY currently stands at $1.217 million.
EQPAY hit an all-time high of $0.584 on July 29, 2023, and recorded an all-time low of $0.0236 on October 2, 2023. The token is currently trading 88% below its all-time high.
Is EquityPay a Scam Crypto Project?
All things considered, EquityPay is a really promising blockchain project. Its developers are working on building marketplaces for businesses, services, and education that will be crucial to the evolution of the blockchain and crypto sector.
The entrepreneurial community’s native EQPAY token will be instrumental in accessing all the products and services on offer. However, the token is yet to be listed on major exchanges as the blockchain is still under development.
The EquityPay team claims the token can be mined and staked on decentralized exchanges, and also stored on the upcoming DragonFly Wallet.
The project is seeking to add more members to its community and is also offering a referral program for inviting others. The EquityPay blockchain and the EQPAY token are slated for public release in 2024.
The project is credible enough to be regarded as a safe bet. Despite its promises, I recommend that you do your own research before making a final decision to invest in the project.
To sum up, EquitPay shows promise as a platform that incorporates innovative features into its functionality.
Its legality is based on a complex framework that requires careful examination, even though its operational aspects are convenient.
For users to navigate this changing landscape, they must comprehend its mechanisms and compliance nuances.