EQ.finance crowdloan is live, 1M Q allocated for rewards

EQ.finance joins the ongoing batch of parachain auctions with its crowdloan campaign. In this campaign we seek 50,000 DOT staked for two years for our parachain. To reward participants, we’ve allocated a significant fraction of the Q supply to reward participants: 1M Q tokens which equals 0.83% of the overall supply.

This article breaks down the mechanics and explains why it’s attractive to DOT holders to participate. Let’s take a deeper dive together.

What is a Crowdloan?

As you may know, Polkadot crowdloans are a widely-known mechanisms through which participants can lend or contribute their DOT to support specific projects or parachains seeking to secure a slot on the Polkadot network. During a crowdloan, contributors lock up their DOT tokens for two years, effectively “loaning” them to a parachain project of their choice. In return for this support, participants are typically offered incentives, such as native tokens of the parachain project or other rewards.

The crowdloan mechanism allows parachain projects to attract the necessary DOT backing to secure a parachain slot, fostering a decentralized and community-driven approach to network expansion. It also enables DOT holders to actively participate in the growth and development of the Polkadot ecosystem while earning rewards for their contributions.

EQ.finance Crowdloan Details

Here’s all the information you need to get up to speed with Equilibrium’s upcoming crowdloan in one place:

Note, we reserve the right to allocate additional rewards during the campaign that can be distributed in a form bonuses.

What is Q?

New Q tokenomics (Qnomics) represent a significant shift in the economic model of EQ.finance. A portion of Q tokens was initially distributed through the EQ → Q swap conducted recently.

As we covered in our previous articles, the relaunch of project’s tokenomics unlocks multiple opportunities to scale EQD as an ecosystem decentralized stablecoin that leverages Liquid Staked Tokens (LSTs) of Polkadot. The list of supported LSTs includes but not limited to the most established liquid staking providers — Acala, Bifrost, and Taiga Protocol.

Alongside previously conducted swap, the crowdloan is one of the only ways to get Q tokens in your wallet. You can learn more about Qnomics from this article.

How to participate in the crowdloan

• Mobile wallet Nova allows users to contribute from the Nova Wallet App
• Polkadot.js allows users to directly lock their DOT directly on the relay chain.
• Another way to participate is on parachains.info website
• Some desktop wallets, such as Talisman and Subwallet allow their users to participate in crowdloans as well.

About EQ.finance

EQ.finance is the first liquid DOT hub of the Polkadot ecosystem. It enables liquid DOT holders to leverage their LDOT, vDOT, eqDOT and other wrappers for dollar-pegged EQD stablecoins. EQD is the first interest-bearing decentralized stablecoin of the Polkadot ecosystem. It is collateralized by a weighted basket of assets and can be used as a universal unit of value within the DeFi ecosystem. eqDOT is a liquid DOT staking wrapper that allows users to participate in DeFi on Polkadot while earning DOT staking yield.

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