Phase 1 of Equilibrium’s Campaign on Republic Has Ended Oversubscribed
We are excited to announce the successful completion of the first Phase of our first ever offering on Republic. Despite the difficult times in the crypto space, members of our community showed massive interest in Equilibrium’s token offering and participated heavily.
Republic Offering Phase 1 Roundup
The token offering lasted 4 days, and we had set a hard cap of $500,000. But within the first 12 hours of going live, members of the Equilibrium community had flocked in and bought 30% of the offering. At the end of this first round, over 350 participants had bought in, resulting in an average of $1,500 per participant.
There were a couple of reasons to think we would not have achieved the hard cap goal. For example, this first round was restricted to only whitelisted investors and the Republic community, and we experienced some technical glitches with the Republic payment system (which was later resolved). However, these did not deter participants as members of the Equilibrium community were enthusiastic about the opportunity and heavily attended the token offering. This made the Phase 1 of the first Equilibrium token offering to be a huge success as we exceeded the hard cap.
Phase 2 and Next Steps
Moving forward, we are already making preparations for the Phase 2 of the offering, and we will be announcing the date soon as the interest in our $EQ tokens keep getting stronger.
The second phase will be broken into two categories; the first category is for whitelist members that could not get in Phase 1’s hard cap.
While the second category is for the general public — all restrictions will be lifted for this category.
While you anticipate the announcement of this next phase, do subscribe to our newsletter so you do not miss any of our updates. We will also release special conditions for participating in the next round — every detail will be in our newsletter, so we encourage you to subscribe.
Reasons for the significant participation in the $EQ offering
Equilibrium is the first DeFi 2.0 platform with innovative financial engineering under the hood. The Polkadot parachain allows for a real high leverage in borrowing and trading without risks for system stability. Equilibrium’s all-in-one DeFi platform combines a money market with an orderbook DEX.
Our advanced cross-chain protocol allows:
- Borrowing and trading with high leverage.
- Borrowing with the low collateral and margin requirements.
- Borrowers to set interest on their loans.
- High liquidity, thereby solving DeFi’s chronic liquidity issues.
Equilibrium is backed by top VC firms, including Genesis Block Ventures, KR1, Signum Capital, CMS holdings, DFG, and Hypersphere.
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.
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