We Launch On-Chain Orderbook DEX On Genshiro. Equilibrium comes next
We proudly announce the launch of our orderbook DEX! This is the premiere orderbook-based decentralized exchange (DEX) launched on the Dotsama ecosystem.
What to look for
The launch of the new orderbook DEX includes advanced features catered specifically to our community. This includes:
- A fully integrated on-chain orderbook.
- Real-time spot market with margin trading
- Our DEX offers the lowest comparative margin requirements (5%)
- Users can leverage up to 20X!
Open Trading Pairs
The first open trading pair is KSM-EQD that currently has ~ 100K ask side (KSM) and 100K bid side (EQD) liquidity thanks to our bootstrap event. All subsequent pairs will be opened upon reaching liquidity in the MM pools. This means 200,000 USD worth of liquidity on each side (ask and bid).
Liquidity provider incentives
Prior to the launch, we invited users to become liquidity providers for our new market making (MM) pools. They could also earn bootstrap rewards from a special GENS allocation. With the launch of the DEX liquidity providers can now enjoy DeFi-like income on their liquidity provisions to the MM pools.
The new liquidity incentive mechanics was developed to track several user activities in the system. Genshiro switches to rewards per epoch with following parameters of the reward model:
Rewards pool: 60M GENS tokens.
Epoch length: 7 days
Number of epochs: 48
Reward per epoch: 1.25M GENS tokens
Genshiro tokens will be distributed to users according to their involvement in the platform activities, several parameters are tracked over the course of each epoch:
- Average liquidity value inside MM pools
- Average value of insurance in the Bailsman portfolio
- Average value of the debt of the Borrower portfolio
The higher are all the factors, the higher the user “score” among all of the other system users and the higher is the user’s share of total rewards. Please refer to the Genshiro Wiki for details.
Both our past liquidity events and the launch of the DEX encourages our community to participate in the process of gaining liquidity in our ecosystem. And this is just the beginning of our journey as these developments will go live on our Polkadot parachain in June.
About Equilibrium and Genshiro
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.
Genshiro is a Kusama-based sister-chain for Equilibrium. It’s the protocol that helps users seamlessly earn yield, borrow, and trade on margin. Using asset portfolios instead of single collateral vaults.
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