Equilibrium & Pendulum: Cross-Chain EQD & PEN Integration
We are thrilled to announce our partnership with Polkadot parachain Equilibrium. Equilibrium is the first Polkadot-based interoperable DeFi money market that combines pooled lending, synthetic asset generation, and decentralized trading. There are a lot of synergies here with Pendulum, an open-source blockchain linking the fiat and DeFi ecosystems through a complex smart contract network. The collaboration will introduce minting, liquidity, and trading opportunities for PEN (Pendulum’s native token) and EQD (Equilibrium’s stablecoin).
Equilibrium Parachain
Equilibrium is an all-in-one cross-chain DeFi protocol offering high leverage. The protocol includes a DEX (decentralized exchange), a money market, and DeFi borrowing. Equilibrium’s USD-pegged stablecoin, EQD, is a portfolio-collateral-backed stablecoin and functions as a unit of value within the DeFi ecosystem. While EQ is the native utility token that is used for community governance. Take a deep dive into how the platform works by reading their Whitepaper.
PEN on Equilibrium
Equilibrium’s money market will allow users to stake PEN tokens for rewards (farming) or use as collateral to borrow crypto assets. PEN is the native token of Pendulum chain, with TGE (token generation event) expected in a matter of weeks. After listing PEN, the Equilibrium orderbook DEX will offer non-custodial PEN/EQD trading — perfect for users seeking non-custodial trading.
EQD is a decentralized stablecoin that is pegged to the value of USD and used within the Equilibrium DeFi ecosystem. It is backed by the over-collateralization of a diverse basket of cryptocurrencies. EQD will accept PEN and Pendulum’s bridged (via Spacewalk bridge) fiat-backed stablecoins as collateral, thus creating new opportunities for asset holders.
EQD can act as a gateway to the Polkadot ecosystem and is integrated with numerous parachains and dApps via XCM, providing liquidity through yield farming or trading options against other supported crypto assets on DEXs.
Summary
This collaboration will unleash an array of opportunities, including an expanded user base and boosted utility for both parachains’ native assets. With the collapse of many centralized Web3 entities (FTX, Celsius, etc) in 2022, the case for DeFi has never been stronger. The solution relies on DeFi parachains like Pendulum and Equilibrium collaborating to build a more secure future. Our communities can look forward to even more possibilities, and we can’t wait to see what the future holds! Follow the Pendulum socials to be first to hear about the exact time and details of the PEN TGE.
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. Equilibrium’s USD-pegged stablecoin, EQD, is a portfolio-collateral-backed stablecoin and functions as a unit of value within the DeFi ecosystem.
Follow Equilibrium
Discord | Telegram | Twitter | Medium | Github
About Pendulum
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
Keep your eyes on the Pendulum!
Twitter | Telegram Announcements | Telegram Community | Discord | Reddit
