What is Quidax Token (QDX), And How Can I Use It?

Remember that time you got a VIP ticket to your favourite music concert? You got to enjoy the best seat in the house, priority entry, and exclusive access to food and drinks 🍲. It must have been a swell time! 

Now, what if we told you that there’s a token that gives you unlimited access on Quidax? This token can save you money while trading, help you earn passive income, and allow you access to exclusive features and products in the Quidax ecosystem. In this post, you’ll learn all you need to know about the Quidax Token (QDX), the utility token that puts you at the forefront of the Quidax ecosystem 🥇!

Key Takeaways 

• The Quidax Token (QDX) is Quidax’s utility coin
• It has a total supply of 500 million and a circulating supply of 77 million
• You can buy QDX on Quidax, WEEX, MEXC and PancakeSwap (V2)
• Holding QDX will allow you to enjoy exclusive benefits across Quidax’s DeFi and CeFi service offerings
• QDX Raffle is a fun Web3 game where you can win big, earn passive income, and claim referral bonuses

What is QDX?

Quidax Token (QDX) is Quidax Exchange’s utility token. You’re probably wondering what a utility token is. Well, think of it as a special cryptocurrency that gives you access to certain resources, perks, or services within a specific crypto ecosystem (such as a blockchain or an exchange platform like Quidax).

Quidax is a leading crypto exchange that was launched in 2018. Over the years, we’ve been building a world where you can send money as easily as a text message. Today, over 1 million customers across 70+ countries have Quidax as their trusted crypto exchange. The Quidax Token is one way we’re making the crypto experience easier and more rewarding for our amazing Quidaxians, who are at the heart of everything we do 💜.

QDX is a valuable token that offers various possibilities to every Quidaxian. It is a simple, low-cost way to enjoy all the benefits of Quidax’s centralised exchange and decentralised finance (DeFi) services. It will soon offer reduced trading fees, rebates, passive income from staking and savings on Quidax. Currently, you can use it to access exclusive decentralised applications (dApps) such as QDX Raffle. 

How Many QDX Tokens Are There? 

QDX has a total supply of 500 million units, but only 77 million units are in circulation. The remaining 423 million units are vested and will be gradually released over ten years. 

In crypto, vesting involves locking tokens for a set time before releasing them back into circulation. By vesting Quidax tokens, we can prevent market manipulation and reduce price swings. At the same time, it’s a way of showing you our team’s long-term commitment to the QDX project. 

Thanks to the Buy-back & Burn smart contract in the QDX Raffle, the total supply of QDX will reduce over time. That means there is a good chance the token will increase in price if it becomes more scarce and demand increases. 

QDX Raffle is a web3 game played on the BNB Smart Chain. Every month, 20% of the BNB revenue generated from the game is used to buy back QDX tokens. These bought-back tokens are then sent to an unspendable address so they can never be retrieved or accessed again.

Although QDX is built on the Ethereum Network, the token is interoperable (it can be used on multiple blockchain networks). Chainport has bridged all 77 million QDX tokens in circulation to the BNB Smart Chain (BSC). 

What Can You Use QDX For? 

QDX has several use cases. Think of it as a master key within and outside the Quidax ecosystem. QDX will empower you to trade, invest, save on fees, and unlock exclusive perks. 

We’re constantly building and will continue to add exciting products and features to Quidax. As the Quidax ecosystem grows exponentially, QDX’s use cases will expand. Here’s a breakdown of the things you can do with QDX:

1. Trading & Investment

You can buy, sell, or swap QDX just like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other cryptocurrencies.

On Quidax, you can swap QDX with any of the 60+ cryptos listed on our platform using Instant Swap. You can also trade QDX against USDT or NGN using the Quidax Order Book. 

QDX is also listed on other centralised exchanges like WEEX and MEXC. DeFi enthusiasts are not left out! You can buy QDX on PancakeSwap (v2). 

2. QDX Raffle 

Have you ever heard of a lottery where you can’t lose? Sounds impossible, right? Well, welcome to the fantastic world of the QDX Raffle, a Web3 game like no other! 

QDX Raffle is a decentralised application (dApp) that offers a fun and rewarding Web3 gaming experience on the BNB Smart Chain (BSC). In this game, you can mint NFTs called Quidax cards to participate in blockchain-powered raffle draws where you can win BNB prizes. 

You can also upgrade your NFTs to acquire premium NFTs, allowing you to earn passively from every cycle. And guess what? That’s not all! You can earn invite bonuses when your invited friends win a cycle in the Raffle

Here’s a quick video guide on how the QDX Raffle works 👇

QDX Raffle Buy-Back & Burn 

QDX Raffle’s benefits don’t end with the BNB rewards you can earn. It also has long term implications for the QDX you hold. Here’s how 👇

Every month, 20% of the revenue generated from QDX Raffle is used to buy back QDX for token burning. This process is called Buy-Back & Burn. Burning QDX means permanently removing it from circulation by sending it to an unspendable wallet. 

This token burning exercise will reduce the total supply of QDX, making it more scarce over time. It also boosts demand since the market buy-backs create consistent buy pressure. The overall effect is a stronger QDX. So, if you’re holding QDX, every burn potentially makes your bag more valuable 💰.

3. Upcoming Holder Benefits on Quidax

Our community of Quidaxians has always been at the centre of the Quidax mission. With QDX, you’re getting an easier and more rewarding way to interact with your favourite Crypto Buddy, Quidax. So, why settle for the ordinary when you can be a VIP? 

Soon, you will be able to enjoy lower trading fees and trading rebates when you hold QDX on Quidax. Get ready to trade smarter, pay less, and enjoy bigger benefits!

4. Upcoming DeFi Benefits on Quidax

The QDX DeFi story doesn’t stop with QDX Raffle. The Quidax team has more decentralised finance (DeFi) plans in store for you. Soon, Staking and Savings products will be added to Quidax. QDX will enjoy higher interest rates and APY. You know we’re all about giving you opportunities to earn rewards without lifting a finger.

5. Community Participation

You can also join our vibrant community on Twitter and Telegram to get first-hand access to the latest updates, exclusive events, and everything QDX. You’ll also enjoy access to airdrops, community bounties and other promotional campaigns. 

Final Thoughts 

Quidax Token (QDX) is not just another utility token—it’s an advantage. Here is your opportunity to be rewarded while participating in the Quidax ecosystem. With even more products and use cases on the way, you can be sure you will get good value for holding QDX over time.  

Given Quidax’s proven track record of excellence and consistent growth, one can only expect QDX to go all the way. There is no doubt that QDX’s future is worth looking forward to. Want to be a part of that exciting future? All you have to do is buy QDX now on Quidax, WEEX, MEXC or PancakeSwap (V2).  

⚠️ Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢). Please do your own research (DYOR) or speak to your financial advisor before making any decisions.