Equilibrium 31st Community Call Recap

Although June was a swelteringly hot month, the heat couldn’t hold us back from doing cool stuff.

At the end of every month, we sit with all Equilibrians to chat about the events and projects we embarked on: June wasn’t any different.

Despite being our shortest call on record, there were lots of talking points. Our CEO, Alex Melikhov, and Sr. Project Manager, Peter Sergeev, walked us through the progress on our Ledger app front and new integrations.

Here are the highlights.

Ledger app proposal hot debates

We’ve been actively working on the Ledger app. And here are a couple of reasons why we decided to put forward the proposal for the development of the app.

• Currently, Zondax, which develops apps for Polkadot-based chains, doesn’t build apps for parachains. This posed a challenge for most parachains, so we thought of building something more universal to support all parachains
• A lot of the apps on Polkadot are complicated. We plan to make the app easy and intuitive for users by adding only important features

Based on the amount of time and effort we have committed to researching and the input we’ve gathered from discussing with both the Parity and Ledger teams, we’ve now got an idea of what we’d like the app to look like.

We’ve put forward the proposal, and there are a lot of hot discussions about it on Polkadot. Please, go support our proposal here.

Equilibrium at the Attempts at Governance show

Still on the Ledger app proposal, we compared our app’s proposal with Zondax’s app on the Kusamarian podcast — this ended up being one of the most heated up debates on the podcast. While we emphasized our universality, Zondax claimed their platform was secure.

You don’t want to miss this discussion that turned out to be some sort of quarrel. You can watch the video here.

EQD/USDT pair goes live

We’ve officially launched our EQD/USDT pair on Equilibrium’s stableswap pool. This pool introduces:

• 90% APR to our Blast liquidity mining
• Additional bonus for EQ token holders
• LP tokens can be reused in Equilibrium pools as collateral to grow your commitment’s liquidity
• USDT withdrawals are now available on Binance, and this opens up a lot of opportunities

Click the link to try out the pool.

Gate.io collaboration

Another important update worth mentioning is our Hodl and Earn campaign with Gate.io. Moreover, we’re giving out $200 worth of $EQ to participants! All you need to do is complete some easy Gleam tasks.

Equilibrium goes to Polkadot Decoded

Another exciting news! Alex was invited to give a talk at Polkadot Decoded: this is the largest event on the Polkadot ecosystem. This year’s 2-day event which was held in Copenhagen lasted from June 28th to 29th.

The topic of our presentation was “EQD as an ecosystem decentralized stablecoin of Polkadot.” EQD is our over-collateralized, crypto-backed decentralized stablecoin with a lot of use cases created to help the Polkadot community and its members conveniently move their funds/assets around and mitigate the volatility with cryptocurrencies.

Pendulum XCM integration

We’re not slowing down in our bid to make Equilibrium the best platform for our community members. And that’s why we’re integrating with Pendulum. In terms of XCM integrations, Equilibrium is one of the most well-connected parachains because we’re constantly building XCM connections. So far, we’ve established connections with Moonbeam, Astar, Interlay, etc.

Pendulum is our newest (and 13th) integration — this will expand EQD’s use cases.

Currently, Pendulum is working on a payment solution, so we’re looking forward to the compatibility and opportunities EQD will bring to their development.

You can view the integration graph here.

Multichain bridge updates

Multichain is having difficulty moving to their new router for various reasons. We’ve been in touch with the team and they haven’t provided any timeline yet, so we’re looking for a way to approach them collectively.

If you’re stuck and can’t withdraw funds, consider opening a support ticket with us and we’ll keep track of that. Also, we highly recommend to contact Multichain’s support directly via this link.

Right now, we’re looking at using other bridges like Snowfall which is coming to the Polkadot ecosystem.

Development updates

Even though it’s summer season, we still had a lot of stuff going for us.

Probably the biggest news is the migration of Polkadot to the new runtime version of XCM v3. We are excited about this development as it opens a lot of cool opportunities to improve our products. Although it also creates a lot of overhead as most of the projects haven’t migrated. For this reason, we have to support both the old and new versions on our frontend and EVM chains like Moonbeam and Astar.

Still on the new XCM API: it allows us to build a multi-hub where your tokens can be transferred from one chain to another in a graphical or chain fashion. This expands our insurer user journey — our mock insurer user interface is complete, and it will go live once the issues with the XCM upgrade are settled. This will allow insurers to manage their portfolios on all the DEXes we are connected to.

Another exciting update for our community: We’re moving forward with the backend development for Genshiro — we’ve developed and tested the chain part. We’re still working on the frontend and will shed more light on what we’re building in the coming weeks.

The new Genshiro UI prototypes have been mocked. What remains is putting both the frontend and backend together.

We also finalized Polkadex integration and added their token. You will be able to use your PDEX tokens on Equilibrium. We still haven’t decided on the risk parameters — once we’ve done that, we’ll decide on a discount and you will be able to use PDEX as collateral for minting EQD, to lend, or build insurance liquidity, and basically all the use cases on the Equilibrium app.

Finally, we’re integrating with Pendulum — the Forex parachain of Polkadot. Their first product will be the bridge to the Stellar ecosystem: this bridge will bring both XLM and XRP tokens into the Polkadot ecosystem, which is really cool.

Q&A Session

Watch the recap of Q&A with the EQ community here.

We look forward to seeing you on the next Community Call!

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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