Equilibrium: May 2022 In Review
Dear Equilibrians, May has passed and we’re ready to keep making waves in the DeFi space! Last month we saw a lot of exciting events and progress within our ecosystem. Community participation and rewards for such participation were a big theme!
We’ve compiled a list of the major highlights and developments to keep you updated on our progress.
- The waitlist for the EQ offering on Republic is open
- We’re moving to Lisbon!
- Equilibrium parachain is live on Polkadot
- The first on-chain orderbook DEX in Dotsama on Genshiro
- Parallel Finance integration
- xDOT token rewards for crowdloan participants via xDOT
- Support for two wallets is added: Subwallet & Talisman
- Medium: Investor spotlight series
- Distribution of crowdloan rewards
- $EQ giveaways
- New social media milestones
EQ token offering waitlist is open
We officially opened the waitlist for network users to participate in our first public token offering for $EQ.
The waitlist shows a commitment to the exciting opportunities which Equilibrium brings to DeFi.
It also allows Equilibrium to show its gratitude and appreciation right back to the community for trusting in the vision. Those who join the waitlist are eligible for early access and other rewards.
Don’t miss out and join the waitlist before June, 12th !
We’re moving to Lisbon!
Portugal creates the perfect environment for the emerging tech companies. Through the non-habitual resident program (NHR), entry barriers are low with favorable conditions for startups. Such a move cuts down time and money in terms of regulations.
That is why we want to continue to pioneer new functionality and innovations within DeFi in the heart of the emergent technical innovation hub.
We look forward to the next chapter of Equilibrium not only in development in Lisbon!
Equilibrium parachain is live on Polkadot
It was a big community success that Equilibrium won a parachain slot. To kick off the month of May, we brought you the exciting news that Equlibrium’s parachain went live on Polkadot.
https://twitter.com/EquilibriumDeFi/status/1522224621327720448
We could not have done it without our community and early supporters: NUT/EQ token swap participants, PLO phase 1 participants, Crowdloan participants, private investors. Now they all are able to see their allocations, vesting schedules and locks.
Through our parachain we’re creating cross-chain compatibility, with low collateral and margin requirements. Moreover, our methods make way for maximum liquidity as we seek to solve DeFi’s all too common liquidity issues.
On-chain orderbook DEX in Dotsama on Genshiro
This past month we launched the first on-chain orderbook DEX! The DEX is now the premiere exchange and an integral part of the Dotsama ecosystem on Genshiro.
With community needs in mind, the DEX included some advanced features, including:
- Full integration of an on-chain orderbook
- Spot market with real-time updates and margin trading
- The lowest comparative margin requirements (5%) in DeFi
Plus DEX users can leverage up to 20x!
The DEX opened with KSM-EQD as the first trading pairs. Subsequent pairs will be opened through reaching certain parameters within the MM pools. For more information and specifics on the DEX launch read our blog post .
Check out the DEX here!
Parallel Finance Integration
We have announced the integration of Parallel Finance on our testnet. The integration is implemented through XCM for native communication and transfers of assets between Parallel’s parachains and Equilibrium’s parachains without a bridge.
Initially Genshiro will support HKO, the native asset of Parallel Heiko, then $PARA will arrive on the Equilibrium mainnet.
In light of these developments we are giving away 50,000 EQ to 50 randomly selected winners.
xDOT token distribution
We have distributed rewards to users who participated in our crowdloans via xDOT. Our community has contributed 197,000 $DOT via Polkadex, Litnetry, and Unique.
If you contributed and received $xDOT you can try out earnings on Genshiro. You can make a good use of your xDOT as collateral for borrowing working capital and also deposit them into the liquidity pool to earn yield!
https://twitter.com/EquilibriumDeFi/status/1527241755221012482?s=20&t=RaQcWvn7eK-vx5SmJXROrw
Support for two wallets is added: Subwallet & Talisman
We integrated two new wallets into our ecosystem. Additional wallets mean more opportunities for community growth, engagement, and therefore development!
We welcomed the Tasliman wallet and Subwallet on the Kusama-based Genshiro (both soon to be live on Equilibrium). Both are Web3 wallets built for Polkadot, Kusama, and the subsequent parachains.
Moreover, in celebration of the partnerships, we decided to drop 100,000 $EQ to 100 randomly selected winners! We’ve already chosen 50 winners (link https://bit.ly/EQWinners1) of our joint giveaway with SubWallet, and another 50 lucky participants of Talisman drop are yet to be chosen. Stay tuned!
Investor spotlight series
Periodically we introduce to our community some of the strategic investment partners, which help make our operations possible. This past month we introduced two more or our investors over on our Medium blog.
LD Capital: A leading global blockchain/crypto investment fund. LD Capital aims to ‘Redefine a Better World with the Digital Economy’. They specialize in diverse marketing strategies and support with development of infrastructure
Digital Finance Group (DFG): A major investment fund in the blockchain/Web3 space to empower projects and startups for success. DFG is known for identifying innovative and disruptive ideas. They invest in projects that are here to make a shift in the space.
We’re very happy to have both VC firms as a part of our support and community building.
Crowdloan rewards distribution
For who contributed to the Equilibrium crowdloan on Polkadot, rewards were distributed this past month. Contributors are able to check rewards here.
The importance of community participation in the crowdloan cannot be stressed enough!
$EQ giveaways
May was a month of giveaways — but could you blame us? Last month many exciting developments and partnerships were secured and we wanted to rally our community.
One of the giveaways was a joint effort with the Unique Network. In celebration of our partnership and the xDOT distribution, we have dropped 50,000 $EQ + 2000 $UNQ! We will randomly select 50 winners very soon.
https://twitter.com/EquilibriumDeFi/status/1531620839237505026?s=20&t=RaQcWvn7eK-vx5SmJXROrw
We also gave away $10,000 worth $EQ tokens on behalf of Equilibrium for those users who simply completed tasks on Gleam. There were 250 random winners chosen to receive $40 worth of $EQ tokens at the price of the public sale. Currently, we are checking the waitlist registration submissions of all selected winners.
Stay tuned for the results and follow us on all of our social media platforms.
Social media milestones
Speaking of social media — in May we hit two exciting milestones: Equilibrium surpassed 50,000 followers on our Twitter and our main chat on Telegram hit 20,000 members!
https://twitter.com/EquilibriumDeFi/status/1525798433541574657?s=20&t=RaQcWvn7eK-vx5SmJXROrw
Don’t forget
This month really highlighted the power and importance of our community. Without all of your engagement and attention to Equilibrium, our commitment to building a sustainable future for cross-chain DeFi interactions is not possible!
As we continue forward, we thank you for your support. Here’s to another full month of progress, innovation, and community!
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. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
Join Equilibrium on Telegram, News Channel, Twitter, Medium, Website, GitHub
