Equilibrium’s xDOT supports Crust crowdloan and allocates rewards of 250,000 EQ
We are very excited to announce that Crust is cooperating with Equilibrium, which will serve as a third-party crowdloan channel. Equilibrium keeps finding new ways to unlock more value for their users and foster the DeFi ecosystem by providing liquidity for crowdloaned assets. Equilibrium supports Crust for xDOT staking (voting in crowdloans via Equilibrium).
In addition to Crust’s crowdloan reward pool allocation of 20,000 $CRU, Equilibrium would like to offer additional rewards of 10 $EQ tokens for every 1 DOT contributed to everyone who votes for CRUST via xDOT!
Entry address: https://equilibrium.io/en/xdot
What is xDOT
Users will be able to stake their DOT for their favorite Polkadot parachain and get xDOT, which are DOT wrappers on Equilibrium parachain.
Users can then use xDOT as collateral for borrowing assets on Equilibrium. For example, users can collateralize xDOT for borrowing more DOT, and use them for staking on Lending Pool for yield farming or staking them on relay chain to earn staking rewards.
Users can also collateralize xDOT for borrowing stablecoins for their working capital needs or for trading purposes. Not just that, users can also use xDOT for minting EQD, which is Equilibrium’s native overcollateralized asset-backed stablecoin. They can then use EQD for margin trading on the DEX or staking in Lending pool for yield farming.
Equilibrium is the one-stop DeFi platform with high leverage in borrowing and trading without compromising system stability. It is built on its own Polkadot parachain and designed to be cross-chain compatible. Equilibrium includes a money market with lowest collateral requirements ever and fully on-chain DEX for margin trading with leverage up to 20X. Critical collateralization as low as 105%.
Crust Network is a versatile, purpose-built storage blockchain that delivers truly decentralized file storage and hosting capabilities for the entire Web3 ecosystem, empowering privacy and data ownership. Crust Network enables dApp hosting, NFT metadata storage and encrypted file storage across a wide range of blockchains.
Join Crust Network now and enjoy access to over 1000Pb storage across more than 3,000 nodes!