Ribbon Protocol + Burning Testnet

Equilibria
Sep 27 · 3 min read
https://equilibria.network

The team is happy to announce we have began public testing of the ribbon protocol and burning mechanism. Burning being the mechanism used to exchange XEQ into USDE. Minting will be added later when internal testing is complete. To start contributing to the testnet please download the binaries or build from source: github. Windows version provided pre-built.

How can I help?

You can either build from source or download the latest pre-builds. Then start up the daemon in power-shell with command ./daemon --testnet --service-nodeto connect to the test network and boot the command line wallet with ./equilibria-wallet-cli --testnet . Run the command start_mining <# CPU Threads> to mine some test Equilibria! After the coins are unlocked you can burn the coins using the command burn <# of coins>. It will prompt you with this dialog:

Wait for the confirmations and now run the command refresh to see your balance!

NOTE: Burning will not be activated until block 1470 as 960 blocks of exchange data need to be collected. At block 1470, the ribbon explorer will be tweeted out where everyone can track the ribbon prices.

How does the rate of Equilibria get determined?

If you want, you can run your daemon in --service-node mode where you will act as a service node. This means you will be submitting ribbon votes to the network. Ribbon votes are made up of three numbers: ribbon green (raw price from exchange trades), ribbon blue (price with trades 2 standard deviations away from the mean removed) and ribbon volume (traded volume from the last block).

Found a bug?

Join our discord and post in #USDE-Testnet. This testnet will be upgraded overtime so make sure you are keeping up with all of the updates.

Want to contribute?

We are looking to invite more developers to the Equilibria Team, and regardless of your skill level, you will find a role where you can make an impact. Growing our team is a priority of ours, and we have decided to start a bounty program to incentive developers to become contributors of Equilibria. If you are interested in joining our team or learning more about what it looks like to become a team member, contact Harrison Hesslink(harrison@equilibria.network) by email or on discord!

If you are not a developer but want to contribute elsewhere, let us know!

Discord Twitter Reddit

— Harrison Hesslink

Equilibria

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The dollar, decentralized.

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