Equilibrium activates its strategic shift: EQ → Q swap started
Equilibrium, the major all-in-one Polkadot-based DeFi platform, has started the long-awaited transition of its tokenomics to new rails of brand-new Q tokens. During the next two weeks, starting today, January 2, all holders of ‘old’ EQ tokens can swap them for Q and be the first to obtain stakes in the renewed project’s economy. Participants can submit DOT on top of their EQ stakes to get a better swap rate.
Here’s what you need to know:
This paradigm shift aligns with Equilibrium’s pivotal focus on Polkadot’s Liquid Staked Derivatives and the recent launch of EQ.finance, a liquid DOT hub of Polkadot. The EQ.finance hub runs the only decentralized interest-bearing stablecoin in the Polkadot ecosystem called EQD. Relaunch of the tokenomics unlocks attractive liquidity incentives for new EQD users and strategic partnerships with liquid staking service providers.
Qnomics introduces a 120M Q token supply that will be vested with a maximum lockup period of three years. Q token model is largely concentrated on EQD mechanics and liquidity incentives for the protocol. Q holders will enjoy extensive staking opportunities for their holdings and staking Q pool will receive a significant fraction of the protocol revenue streams. You can explore Qnomics in greater detail in our latest article here.
Equilibrium’s community decided on these significant changes during referendum #7. The referendum occurred in December 2023, and 52% of its participants expressed their support for the tokenomics amendments through decentralized voting. The results of the referendum are available at the Equilibrium’s governance portal.
The ongoing swap also accepts GENS tokens of Genshiro, Equilibrium’s sister project on the Kusama network. The swap rate for GENS holders is 4,000 GENS per 1 Q, while the lockup period is twice longer: 180 days cliff + 360 days vesting.
Swap is available at https://eq.finance/swap
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 a DOT staking yield.
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