QASH is a utility token as well as a crypto currency. From the utility side, QASH token holders can redeem QASH for all QUOINE services (QUOINEX, QRYPTOS, LIQUID).
Andre Pemmelaar our Chief Trading Officer shares:
You trade ETH on LIQUID and you have a choice to pay your 10bp fee in fiat, ETH, or QASH. How much are you willing to buy QASH for? Well any price that is less than the cost of buying 10bps worth of ETH means you just paid your fees at a discount. So this sets up a natural demand for it and creates a theoretical price for it. Too low a price means it is better to go buy QASH and use it. Also, it establishes a clear value relationship between the value QASH and other Cryptos.
Let’s say you are an exchange that has partnered with us. And we share the same client. She sold on one exchange receiving fiat and went long on the other and now is holding crypto there. Now to complete this arb she is going to need to swap her fiat and crypto (e.g. send them to the opposite exchanges). Normally, the crypto isn’t too hard to move but the fiat takes time, money and is very inefficient. But what if QASH could be used as the currency of settlement between the two exchanges? We (the exchanges) would agree to net it out with QASH. This would free up a lot more capital that arbs could deploy to increase liquidity.