Equilibrium’s February In Review

This February was an event-rich month for us! We’ve prepared a list of the most significant items to keep you updated on our progress and upcoming releases.

• Genshiro’s most important technical developments
• Equilibrium’s crowdloan updates
• A bird’s-eye view of EQ’s 2022 roadmap
• Our brand new DEX is coming
• KuCoin is hosting a Flash Bonus event for Equilibrium’s crowdloan
• Genshiro’s liquidity bootstrapping event
• Crowdloan Boost Bonus
• Round three of our ambassador program
• Substrate.io case study about Equilibrium
• Project overview by DFG

Genshiro’s important developments

• We’ll be ready to deploy the yield pool for xDOT/DOT AMM and the oracle for xDOT prices into production when we finish up the interfaces. We tested the AMM on the testnet and reworked our oracle to support price feeds based on this AMM.
• We performed API-related fixes on our DEX, introduced market orders there (where users take liquidity rather than supply it to the book), worked on optimizing blockchain speeds to fit many more transactions per block. We can safely operate at 800–1,000 transitions per block right now.
• We’ve tested XCM-based transfer of KSM tokens to and from the Genshiro network and expect this to be launched by the time the liquidity bootstrapping event for our DEX starts.
• We deployed a minor technical tweak to interest rates to account for the risk of liabilities in user portfolios.
• We benchmarked all of our methods, calculated new transaction weights, and significantly increased transaction fees.
• We optimized oracle storage handling and moved from maps to vectors, which surprisingly sped up the read/write process. We optimized the number of technical transfers needed for certain in-system actions like margin calls and fee redistribution.
• We’ve built a new module for the prediction market pallet where users can bet with GENS tokens on the outcome of certain financial events. We still need to wrap this functionality into a separate product and design and implement user interfaces for it.
• Now users who deposit assets into the system for the first time get part of their assets swapped automatically into 100 GENS tokens to be able to operate inside the blockchain efficiently as part of the GENS treasury buyout. After the update users will be able to perform this action manually and select the desired amount of GENS tokens they wish to buy.

Equilibrium’s crowdloan updates

We’ve raised over 1.29 million DOT from more than 7,200 contributions.

Over 55% of the contributions were made by retail participants.

A bird’s-eye view of EQ’s 2022 roadmap

Here are some key future benchmarks we’re paying attention to:

• Winning the parachain slot and getting onboarded there
• Liquidity bootstrapping event
• Launching the full line of our products (money and spot markets, AMMs, xDOT)
• Bridge Equilibrium and Genshiro
• XCM integrations with other projects
• Release updated bailout model with risk levels, credit scoring, and maximum utility for bailsmen
• Launch governance and democracy, remove SUDO
• Launch perpetuals on DEX
• Introduce Layer 2 scaling solution, improve DEX speed and usability
• Integrate more ecosystems: Solana, Near, Avalanche, and others

Our brand new DEX is coming!

The first DEX on Polkadot and Kusama with an order book is coming soon. Watch the interface sneak peek video on our YouTube. Follow Genshiro on Twitter and Telegram to keep an eye on our announcements.

KuCoin is hosting a Flash Bonus event for Equilibrium’s Crowdloan

We’ve partnered with KuCoin to organize a special event for KuCoin users! The early birds can participate now and a huge bonus will launch on March 3rd. Check out the details here.

Genshiro liquidity bootstrapping event

The aim is to bootstrap liquidity for MM pools and bailsman (insurance) pools, using KSM, ETH, MOVR, BNB, GENS, and EQD assets. The 100% APR will be live for 7 days so don’t miss the announcement.

Equilibrium’s Crowdloan Boost bonus is active

To support our loyal community we’ve made a 30% bonus for contributions done after February 22. We’ve also introduced a 15% welcome bonus for first-time voters. Find the details here. Learn how to get an extra 5% reward on your crowdloan bonus here.

There’ll probably be more Flash Bonus events soon. More than 1,000 people were delighted with 150% and 200% rewards for their contributions. Make sure to join our waitlist and be the first to know about the exact time and date of future events like this. Furthermore, having a waitlist subscription also gives you priority during reward distribution.

Equilibrium & Genshiro Ambassador Program: Round 3

This time we’ve increased the prize pool from 35,000 to 185,000 GENS and decided to reward more ambassadors: there’ll be 160 winners instead of the previous 100! Join the group and start earning GENS involving more people in the DeFi future!

Last but not least:

• Read the Equilibrium case study by Substrate.io here
• Watch the recap of our 15th community call on our YouTube
• Check out the overview of how Equilibrium works, published by DFG here

About Equilibrium

Equilibrium is a cross-chain DeFi super-app that combines a money market and a spot market with margin trading. The platform performs the full gamut of DeFi functions from pooled lending and synthetic asset generation to decentralized trading. 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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