Equilibrium 28th Community Call Recap

Spring is in the air and what better way to end March than to discuss the month’s activities with our community. March was another busy month, and we couldn’t wait to connect with you to chat about everything we worked on, including sharing future updates.

We were also excited to host a few ecosystem partners and a surprise guest from MEXC Global. The call was hosted by Alex Melikhov, our CEO, and Marie, our head of the community.

Without further ado, let’s dive into the crux of the call.

EQ Blast: TVL has reached $2.14M & mining continues!

Exciting times over here at Equilibrium HQ. We’ve witnessed steady growth from the start of our EQ Blast campaign, growing from $50,000 to $2.14M TVL. That is over 40x growth.

The campaign has attracted 300+ active participants. Of which 204 Blast users contributed their EQ tokens and will receive EQ rewards: we’ve already distributed 1.5M EQ tokens.

If you haven’t been following, here’s how the Blast campaign works.

Participants contributing to our liquidity pools get extended rewards paid in EQ tokens. Some of the strategies to grow your APR include;

• Contribute and lock your funds in our lending liquidity pools to lend them out to borrowers in the system
• Provide liquidity to the insurance pool to secure the system — risky, but attracts a higher APR
• Lock your stablecoin in our Stableswap pools
• Stake DOT in DOT staking pools on our platform: this is almost risk-free as your DOT remains liquid. For example, you’ll get an eqDOT wrapper for locking your DOT in Equilibrium, which you can reuse in the protocol and lock as collateral. You can also use it to raise more liquidity and get stablecoins from the money market. The stablecoins can also be used to get more DOT or do other trades.

Another interesting concept of our EQ Blast is our staking rewards. For example, locking DOT in our liquid staking gets you the 12% APR that Polkadot offers and 18% APR in EQ tokens. Combining these strategies attracts an impressive APR of over 90%. Surely, this is one of the most attractive liquidity mining campaigns in the DOTSAMA ecosystem.

Have a peek at what’s on offer using this link.

EQD stablecoin is gaining more traction

EQD stablecoin is our decentralized stablecoin in the DOTSAMA ecosystem. We initially designed it to be used on our platform and as a lending instrument to raise liquidity. However, we found that it can provide value to other products and partners in the DOTSAMA ecosystem, and we’re excited to see other projects integrate with it.

Currently, $400,000 EQD stablecoins have been minted. Right now, there’s only one Stableswap pool on our platform — the EQD/USDC pool — for swapping EQD and USDC and vice versa. This pool has $600,000 worth of liquidity. Staking your EQD/USDC LP tokens to leverage our money market will further maximize your APR. You can engage with all these instruments in one interface on our comprehensive platform.

We’re planning more campaigns with various partners within the DOTSAMA ecosystem. Kindly subscribe to our social media channels to get updates.

EQ is one of the most influential projects on DOTSAMA

Hooray! Polkadot recently announced on its Twitter page that Equilibrium is one of the most influential projects on DOTSAMA. Thanks to our colleagues at Polkadot Insider for such recognition.

This shows we’re making a significant impact on the ecosystem. And we expect our recent developments to be more impactful even as we’re working to establish EQD stablecoin as DOTSAMA’s native stablecoin for all the projects.

Polka DeFiance 2023 is scheduled for May 4

Another exciting news for our community is our much-anticipated Polka DeFiance event slated for May 4th and will be online. The previous two attracted a combined total of 4000 participants. We’ve already confirmed 21 Polkadot parachain and EVM-compatible projects like Moonbeam and Astar that’ll be joining us — 11 other participants are pending confirmation.

We’re looking forward to this event and will share details on the Polka DeFiance website: stay tuned.

Equilibrium adds support for InterBTC and INTR

We’re also excited to announce our integration with Interlay. This is one of our most important integrations as they’re one of the major players in the DOTSAMA ecosystem. Their goal of building a DeFi conglomerate on top of Bitcoin is truly innovative and the platform is safe for liquidity providers and those who want to bridge BTC from the Bitcoin Network to DOTSAMA.

Integrating with Interlay will be beneficial for both protocols as our community will be able to leverage real BTC on Equilibrium. You can also use InterBTC and INTR as thus;

• Deposit them in our lending and insurance pools to earn over 90% APR (if you apply all strategies discussed earlier)
• InterBTC can be used as collateral for minting EQD
• Use your InterBTC as collateral for borrowing other assets like DOT, USDT, USDC, etc.

New XCM integrations: Phala, Litentry, Bifrost

In our usual fashion, we chatted with some partners to shed light on our new integrations and the value it brings to both our communities.

Chat with Litentry and Bifrost

Our first two guests were Teun and Christian, both growth managers of Litentry and Bifrost respectively. Teun talked about their interesting product called Identity Hub which will help users in DOTSAMA access their wallet addresses, blockchain-based history, and transactions in one place without revealing their true identities. Christian, on the other hand, talked about using Bifrost’s Vee tokens for minting stablecoins. Both added that EQD will be very valuable to their projects.

You can find out more about the chat here.

EQ is listed on Gate.io

Another interesting news: our EQ token was listed on major exchanges like Gate.io and MEXC on March 9th. And it has seen decent trading volumes on both exchanges.

Both platforms were enthusiastic about moving forward with the integration, so we listed the Ethereum version of EQ tokens to ramp things up on the technical front. Now we’re working on the native parachain integration which will go live soon.

Chat with Andrew Weiner

Andrew is the VP of MEXC Global, and he couldn’t hide his admiration for our innovation. He described it as ‘true innovation,’ and ‘a project that solves a real problem.’ He said Equilibrium pieces together the fragments in the DeFi space and enhances the user experience for the regular DeFi user who’s been locked out of traditional finance. And he said DeFi is positioning itself to replace the traditional finance that it sought to disrupt.

You can listen to the chat here.

EQ Lab introduced a concept of a common app for Ledger

Next up is our universal app for Ledger which allows for the batched integration of parachain projects into Ledger’s live application. The proposed solution is using _BLINDSIGNING_ mode to make app deployment more universal.

This universal app concept is built on EQ Lab — the development hub for Equilibrium’s protocol. You can find more details of the concept on eqlab.io. Please give us your feedback as we’re now collecting entries from the parachain project regarding this integration.

We have launched a questboard on Zealy (prev. Crew3)

Zealy is a web3 platform that empowers communities to work towards shared goals. And Marie, our head of community at Equilibrium, walked us through our integration with Zealy. Our Zealy allows anyone to learn about Equilibrium, spread the word, and earn some perks using the platform. Currently, we’ve got over 400 members and 85 different quests in our Zealy.

Our Zealy questboard is designed for:

• DeFi enthusiasts looking to discover new projects
• The Equilibrium community
• Our ambassadors

We recently added three new quizzes to our quests with different difficulty levels. The highest difficulty level rewards our liquidity miners with the Blast Bonus that unlocks a max APR of over 90%. We recommend you also try out the other two quizzes as they’re fun and will help you understand our products better. Plus we’re adding more tasks to help you engage with our app, explore its features, and earn some Blast bonus. Completing a quest makes you eligible for some exclusive rewards.

You can access the questboard here.

Multichain bridge update

We’re improving our integration with Multichain, and this is in the testing phase on Moonbase. The new solution will split responsibilities between us, Moonbeam, and other counterparties. Our Equilibrium bridging pool will be isolated from other assets. Hopefully, the new split solution will be live in a few weeks.

Development updates

We’ve completed multiple UI improvements — you can now view your farming statistics. We’re done with the unification of our homepage and the wallet application page. We’ve added new token pages to easily manage your tokens and portfolio. And we’re working on more effective liquidity management.

Also, we’re working on our blockchain code refactoring, improvements, and optimization to be open-source in favor of our community. We’ve recently developed the mobile interface for the Equilibrium app: this will be deployed within the application soon. And a new EQD stablecoin landing page is being deployed on our website.

A lot of XCM-related work and refactoring has been completed and more integrations are in the works. Some of the projects we’ve integrated with include Litentry, Bifrost, Phala, Interlay, etc. We’ve also been working on deeper wallet integrations with SubWallet and Fearless wallets — this is going live soon. We’re also working on Moonbeam’s UI integration: this will also be live soon.

About Equilibrium

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 orderbook-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. Dollar-pegged EQD is Equilibrium’s native decentralized stablecoin, collateralized by a weighted basket of assets and 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 Equilibrium while earning DOT staking yield.

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