Equilibrium Integration Delivers EQ, EQD Stablecoin and Extended DeFi Possibilities to Moonbeam
We’re thrilled to announce the opening of bi-directional HRMP channel with Moonbeam, making EQ token and EQD stablecoin available on Moonbeam and GLMR in Equilibrium.
EQD’s Moonbeam presence facilitates increased use cases for Moonbeam-based projects. Once users deposit EQD on Moonbeam as xcEQD — the XC-20 representation of the EQD token — EQD becomes available across Moonbeam’s active ecosystem of DApps. This way Equilibrium also helps maintain asset liquidity for improved efficiency and broader participation options within Moonbeam. EQ can be withdrawn to Moonbeam and stored there as xcEQ. This allows users to batch multiple transactions together before withdrawing tokens to Ethereum. Such a strategy is relevant due to cheap transaction costs between Equilibrium and Moonbeam and much more expensive withdrawals to Ethereum.
The Equilibrium integration illustrates interoperability made feasible through Polkadot’s XCM (cross-consensus messaging). DApp developers are now able to create complex interactions between Polkadot parachains and Ethereum by accessing these secure messaging features through Moonbeam. Building novel apps and use cases for DotSama and beyond begins with XCM integrations.
Developers may create cross-chain connected contracts that draw on features and resources from numerous blockchains inside and beyond the Polkadot ecosystem, connecting with both EVM and non-EVM blockchains.
The integration between Equilibrium and Moonbeam allows Equilibrium to support multiple non-native assets as well as export Equilibrium native assets to other ecosystems. This is vital for product quality and overall user experience on Equilibrium.
EQD Stablecoin
EQD is a Polkadot-native asset-backed stablecoin with a 1:1 peg to USD. EQD can be minted against a well-diversified portfolio of assets, thereby greatly reducing a borrower’s collateral risks. EQD use cases extend beyond Equilibrium through its extensive connections with other ecosystems, such as the Bifrost Network.
About the Moonbeam Network
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.
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 order book-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
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