Here’s What Equilibrium Made Happen In May
We are turning the page on Q2 2021 and entering Q3 with some meaningful plans and goals. But as we do each month, we’ll round up all the events pertaining to our project that took place over the past four weeks.
Let’s get into it.
We have launched our EQ/GENS lockdrop!
We announced our Kusama-based project, Genshiro! It’s a DeFi canary network that operates adjacent to Equilibrium — now EQ token holders have the opportunity to participate in our lockdrop, earning 10 GENS for every EQ they lock. GENS will play a key role in the Genshiro network, as well as in the DeFi products that are built on top of it.
The lockdrop features bonuses up to 30% for early participation. That maximum bonus is still available, so you can get started right here. If you’d like a detailed writeup about how to participate in the lockdrop, just check this out.
We announced our Kusama PLO strategy
Genshiro will be a testing site for our future products before we deploy them on Polkadot — this means Genshiro users get to play with exciting, experimental features before anyone else. They’ll have access to a broader range of crypto assets compared to Equilibrium, more relaxed margin rules, the Curve AMM, a DEX with derivative contracts on ETFs, stocks, gold, and commodities, and more.
We intend to win two forty eight-week leasing periods for our Kusama parachain slot. This is a Kusma relay-chain module that lets people contribute to the PLO by locking up their KSM until the end of the lease. Participants will be able to stake KSM to our parachain and earn rewards in GENS tokens during the parachain lease period.
You can read details on Genshiro’s tokenomics here, as well as our specific plan to win two forty eight-week leasing periods here.
We launched the Genshiro ambassador program with a prize pool of 300,000 GENS
Our community makes our product what it is, so we are happy to offer a way for our most passionate users to earn rewards for spreading the word about our products. The Genshiro ambassador program is a way to earn GENS for simply tweeting about or creating memes about Genshiro.
We couldn’t make the impact we do without our wonderful ambassadors — please read the details and sign up here!
We finalized plans to integrate the Band Protocol and Bluezelle oracles with Genshiro
Genshiro will come ready to roll with price data provided by Band Protocol and Bluezelle. Each is a standout oracle in this industry, and we’re thrilled to have their involvement. You can read more details about our Band partnership here and our Bluezelle partnership here.
We have completed the first phase of the Equilibrium PLO on Polkadot
The results are in: we netted 250,000 DOT that will go toward securing a Polkadot parachain slot. Our community opted for a 24-month lease period, and you can read the full details of our phase one PLO results right here.
The phase two crowdloan comes next!
We released an educational article on Equilibrium’s robust risk model
Introducing the role of the bailsman as a novel means to manage debt, we think Equilibrium’s risk model is something really special. That’s why we wrote up this educational article on how it works — check it out!
We made appearances at Polkadot Decoded and CryptoCoinShow
Equilibrium CEO Alex Melikhov participated in Polkadot Decoded and presented on the topic “Bailouts vs Auctions: How Equilibrium Uses Polkadot for Sustainable Lending.” Check out his presentation here!
Alex also appeared on CryptoCoinShow to discuss our cross-chain interoperable DeFi money market, the issues with cross-chain liquidity in DeFi, Equilibrium’s DeFi products and EQ token, and the upcoming launch of our Kusama- and Polkadot-based platforms. You can watch it here!
We held our sixth-ever community call
We run a special live stream for our community every month, and we just concluded the sixth edition. This time we covered updates on our tech milestones, demoed the lockdrop, reviewed Kusama auction parameters, and covered our GENS listing. We had about 170 people watching the live broadcast, and they asked some 100 questions before and during the call.
You can watch the video replay of the live call here, or you can simply read the text recap.
The future is bright and we’re excited to build the future of finance — thanks for being part of it!
