We are super delighted to announce the launch of our ETH-backed token Liqueth (LQTH), with a mission to help our users participate in the ETH 2.0 network upgrade. In fact, more than $2 million worth of ETH has already been staked on CoinDCX.
If you have staked Ethereum (ETH) on CoinDCX, your staked ETH would be converted to LQTH in a 1:1 ratio and deposited into your wallets. Along with LQTH, you will also receive a one-time reward in ETH based on the interest earned for staking. Once listed, LQTH would be tradable (LQTH/UDST) and you can sell your staked position in the market whenever you wish or buy more staked positions to accumulate more rewards by buying more LQTH from the market.
LQTH/USDT markets will be live soon on CoinDCX and users would be able to trade their staked positions in the liquid market. Users can choose to exit or enter the staking positions just by Buying/Selling the LQTH token. You will also receive daily interest as staking rewards on your LQTH holdings in ETH.
To learn more about Liqueth (LQTH) and how it works, read our exclusive blog here.
Got more questions? Check our FAQs below.
How is my 1-time reward calculated?
Since a validator for ETH is created against the staked 32 ETH, the rewards earned by the validators are to be distributed to the stakers based on their ETH contribution to the validator. Daily rewards earned by each validator in the form of ETH vary based on network performance but the reward generated by any validator in a day is constant. This reward is pooled together and distributed based on the ETH contribution to the validator creation which depends on the time and amount of ETH staked.
Can I get back my ETH?
Yes! All you need to do is hold LQTH till the ETH (Beacon Chain) allows withdrawals from validators. We will then be able to return your ETH in a 1:1 ratio of LQTH. Your interest accumulated would have already been distributed to you via distribution mechanisms.
Can I transfer my LQTH to other users?
No, this is not allowed. However, you can trade LQTH in the open market once listed where your friends can also buy it.
How much commission does CoinDCX charge?
CoinDCX charges no commission on this activity. However, standard trading fees would be applicable if the user trades on the LQTH/USDT market.
When will I be able to trade my LQTH?
LQTH/USDT will be live in a few days. Updates regarding the listing would be announced on our community channels.
Still got more doubts?
Don’t speculate! Join our community across various platforms and we will answer all your questions.