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Join Beamswap in Equilibrium’s Closed Beta and Compete to Win 1.3M $EQ

To celebrate the fast-approaching launch of Equilibrium Closed Beta, the Beamswap community is invited to compete for EQ rewards while testing the platform functionalities.

Attention, Beamswap fam!

With the recent partnership with Equilibrium, we’re giving you a chance to participate in the official launch of Equilibrium Closed Beta, test what the platform has to offer inside out, and get rewarded for your trading achievements along the way.

Here’s everything you need to know.

What is Equilibrium Closed Beta?

Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an order book-based DEX.

Equilibrium’s native utility token is EQ and is used for communal governance of Equilibrium.

https://equilibrium.io/en

Fast approaching the Closed Beta phase, Equilibrium invites the widest community of DeFi-ers to apply for a chance to try out the platform and grow their portfolio along the way in a community trading competition.

Key competition highlights

https://medium.com/equilibrium-eosdt/equilibrium-is-entering-the-closed-beta-phase-2beb4fa85500

👇 Read more about Equilibrium’s Closed Beta. 👇

Rewards breakdown

Closed Beta will showcase all the core features of Equilibrium at a full scale. In order to test and play around with them, the chosen participants will receive a portfolio of virtual crypto tokens to spend and grow in a DeFi way.

All participants will be competing at the individual level and community team level.

The top ten active individual users of the Beamswap community will share 200,000 EQ tokens (see details below). Besides, the Beamswap Community Team will compete against other community teams in a challenge with 1.3M EQ token allocation. Among those, the team with the highest Top 10 aggregated portfolio value will be crowned the Champion Team.

👨‍🦰 Individual qualification

  • Rewards allocation: 200,000 EQ tokens (Beamswap community alone)
  • Distribution: To Beamswap members with Top 10 portfolio value at the end of Beta
  • Rewards: Top 1 = 70,000 EQ; Top 2 = 40,000 EQ; Top 3 = 20,000 EQ, Top 4–10 = 10,000 EQ each

🧑‍🤝‍🧑 Team qualification

  • Rewards allocation: 1,300,000 EQ tokens
  • Distribution: To the community with the highest Top 10 aggregated portfolio value
  • Rewards: All winning community members share the allocation pro-rata to their individual portfolio value

👇 Read more about Equilibrium’s Rewards Mechanics here. 👇

DeFi testing made fun — and safe

The Closed Beta trading competition will bring together several crypto communities, both within the DotSama ecosystem and beyond.

If you enjoy stepping out of your trading comfort zone, you’re encouraged to try Equilibrium’s DeFi functionalities, including lending, borrowing, and margin trading.

Equilibrium Closed Beta will be held on a testnet and mimic the real-world scenario of navigating the platform. You will be able to use various assets, including parachain native assets, to test the trading possibilities and DeFi use cases without risking your existing portfolio.

In the competition, your goal would be to maximize your virtual portfolio value and beat others in the process. In this first-hand experience of the early release of the platform, you will gain an insight into Equilibrium’s DeFi possibilities while having fun building a portfolio in a safe environment.

How to participate

To join in the Equilibrium Closed Beta competition under the Beamswap roof, you need two things:

1. Application form: Register by filling out the application form here: https://forms.gle/44KWy3snu2HZaDSB9. You will need to provide your Polkadot address, e-mail address, and answer a few questions. The registration form will only be available until September 3, 2022, at 00:00 UTC, so don’t be late to the party.

https://forms.gle/44KWy3snu2HZaDSB9

2. Community Code: At the bottom of the Application form, enter the Beamswap Community Code BEAMSWAP6695 to participate as a Beamswap community member and increase your odds of winning with other Beamswappers.

If selected, you will receive an email from Equilibrium with further instructions on how to access the Beta.

That’s it! Good luck, and enjoy paving the way to a solid launch of DeFi by Equilibrium.

About Beamswap

Beamswap is a DeFi hub built on the Moonbeam Network featuring a decentralized exchange (DEX) and an automated market maker (AMM). It gives users the freedom of adding liquidity, performing peer-to-peer transactions, swapping fungible tokens, and earning passive income from staking and yield farming. Beamswap will support the growth of Moonbeam’s ecosystem and act as a launchpad for new projects developing on the network. Our team’s mission is to aid in the multichain vision to serve as a host for projects on the Moonbeam & Polkadot Ecosystem while working alongside projects with existing infrastructure looking to bridge into the multichain universe.

Twitter | Telegram Group | Telegram Announcements | Discord | GitHub

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