Wolfonaire Chatbox : AMA With EquilibriumDeFi (31st May, 2022)

Wolfonaire Chatbox
Published in
8 min readJun 9, 2022


Hello! Wolfonaire Family & Crypto Enthusiasts

We recently hosted an AMA With Equilibrium 31st May, 2022 at 02:00 PM UTC. This session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…

Guest Speaker :

Mr. Alex Melikhov | CEO, Equilibrium

(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)


Alex : Let me introduce myself first. I’m Alex Melikhov, the Founder and CEO of Equilibrium and Genshiro. I’m an engineer in applied mathematics. Before blockchain I was focusing on fintech, mostly payment systems and gateways. I became completely involved in crypto after co-founding Changelly in 2016.

My current team has been working together since 2017 and currently we are working on Polkadot-based Equilibrium and its canary network on Kusama called Genshiro.

All of our team members is playing vital role in the development of Equilibrium and Genshiro, but let me highlight 4 of them:

  1. Lesley Czuma — our Business development lead
  2. Peter Sergeev — Sr Project Manager Tech Team
  3. Yves Renno — Lean Analyst
  4. Benjamin Khrapov — Tech Lead


Feel free to learn more about our team here😎

Wolf : For our members who are not already familiar with the project, can you give us a very high-level overview of what #Equilibrium is and what competitive edge it brings to the Crypto Universe?

Alex : Of course. In layman’s terms Equilibriums is DeFi 2.0 with high leverage. It’s a one-stop platform to earn, borrow and trade at max efficiency.

I will drop 5 advantages which are distinguish Equilibrium as truly DeFi 2.0:

  1. Cross-chain all-in-one DeFi platform — all DeFi instruments in one place. If you want to utilize DeFi with max efficiency, that’s obligatory nowadays.
  2. Own parachains on Polkadot & Kusama — Equilibrium and Genshiro (our canary network on Kusama) are already part of the Dotsama ecosystem
  3. The first orderbook-based DEX on Polkadot with leverage up to 20X — can’t say more here. We are the first project in Dotsama who developed a fully on-chain orderbook!
  4. A money market with critical collateralization is as low as 105% — this will allow traders to perform risky, yet profitable trades.
  5. Features: pooled lending, trading on margin, native decentralized stablecoin, synths, perpetuals.

Long story short, that’s it. That’s our advantages and as you can see, they are pretty cool

Wolf : How do holders of the #EQ Tokens benefit in the ecosystem? What power within your model do individuals hold? Why is it so attractive and what are the basic requirements to participate?

Alex : Long story short, EQ enables the community governance of Equilibrium. It can be used for transaction fees, product fees, and platform liquidity on Equilibrium.

There several key features which I will drop now

1. EQ holders have a say in system changes and EQ-weighted votings.
2. Works as a platform currency. Users pay transaction fees for operations on Equilibrium’s Substrate and product fees in EQ
3. Bailout liquidity. Liquidity providers can earn yield by locking EQ in Equilibrium’s liquidity pools
4. Staking opportunity. EQ holders receive rewards on their tokens staked to Equilibrium’s governance

You can learn more details on our beautiful website: https://equilibrium.io/en/eq-token

Wolf : Really amazing. Excited for EQ! Please share more details about your upcoming sales.

Alex : Thanks folks! think I can share some insights with you guys😎As you folks already know, we are running our Republic campaign. There’re several goals we are trying to achieve right now, but — if I can say like that — one of the most important, is simplicity and adoption.

Our Republic campaign will help us to attract a lot of liquidity into the ecosystem in general and to the Equilibrium in particular.

Waitlist is already open and you can join the campaign right now. Let me share the link with you: https://equilibrium.io/en/republic-offering

Speaking of Republic, let me share some news with you folks

We are currently running an EQ airdrop campaign!

Let me share the announcement here with you. This is the only way when you will be able to get EQ. Besides our Republic campaign.

🔥 Mega $10,000 worth EQ Gleam Community Giveaway!

🚀 On the occasion of Equilibrium winning the Parachain on Polkadot and the upcoming EQ token sale on Republic, we are doing a $10,000 worth EQ tokens community giveaway.

🎁 250 random winners will get a $40 worth of EQ tokens each at a public sale price.

👀 All you need to do is simply complete the tasks on gleam to win.

⏩ Take part here: https://bit.ly/EQGleamGiveaway1

Could you kindly PIN it? If possible, of course\

Wolf : Yeah it’s always possible for Equilibrium

Wolf : Let’s move for the another question- Why do you think EQ will be the leader of Polkadot Defi?

Alex : Ah, this one is interesting. The main hurdle of DeFi implementation in Dotsama ecosystem is its fragmentation. In general, if you want to fully leverage your crypto, you have to use several platforms simultaneously. And this is definitely not a user-friendly approach.

Wolf : Exactly

Alex : We at Equilibrium strive to achieve best possible user experience in DeFi, That’s why we are aim to build DeFi 2.0 where you will have all your financial instruments in one single application.

As I said earlier, If you want to utilize DeFi with max efficiency, that’s obligatory nowadays.

Basically, you will be able to trade, stake, borrow, lend — all in one app. That’s how we will do it😎

Wolf : Beautiful! Great Explanations Alex

Let’s move for twitter round

Q1. I noticed that Equilibrium will be having its own stablecoin soon. We all know what happened to Terra Luna and the $UST stablecoin lately. How can we ensure that your stablecoin, “EQD Stablecoin”, will not be the same as Terra Luna’s UST?

Ans. That’s a good one. In general LUNA is an algorithmic stable coin, EQD is a collateral backed stable coin. These are different approaches and with collateral backed stablecoin the bankruns are not possible.

All you have to do, is to provide some collateral for EQD and mint it. That’s how it works. Simple and secure. You just can’t get any EQD without collateral.

Q2. I noticed that Equilibrium, like many other projects, will have an economy of multiple tokens, they are EQ, EQD, and GENS, but can you tell us what use each of them is for? Will these work together and depend on each other for stability?

Ans. So, as you guys know, we have Genshiro. In general, this is sisters chain of Equilibrium. And the main utility token there is GENS. This token plays an important role in the system. It can be used as a platform currency. That means that you can use it for paying fees. Whenever you make some action on Genshiro, you need to pay some fees. And those fees can be payed in GENS.

You can already stake your liquidity there and earn up to 25% APY

And I think I’ve also covered EQ as well, but let me drop you it’s advantages one more time:
1. Governance token
2. Platform currency
3. Bailout liquidity
4. Staking opportunities

Q3. if we want to stake and farm “Equilibrium’ , how will the profit be calculated? and will “Equilibrium’ cooperate with DEX AMMs from other projects such as Pancakeswap?

Ans. So, basically we use three key elements that no one else offers:

  1. Risk algorithm:
    Monitors & corrects liquidity continually in real time. Incentivizes bailsmen & liquidity providers to add more liquidity if needed.

    2) Programmatic interest rate:
    Users can choose their collateral ratio — & influence their interest rates(these are not fixed)

    3) Bailouts instead of forced auctions to resolve bad debt:
    We recall what happened on Black Thursday with Maker DAO in Spring on 2020. That was because auctions are a risky mechanism — especially in adverse markets. That’s why we have replaced them with bailouts instead — thereby minimizing your risk.
  2. In general bailsmen provide their liquidity in advance to earn a substantive fraction of interest paid by the borrower. The interest rate fluctuates depending on several factors, including the conditions of the bailout pool, and bailout rewards fluctuate correspondingly.

So, the long story short — the more borrowers we have on platform, the more APY will earn bailsman.

You can also learn more on that here: https://docs.genshiro.io/genshiro/mechanics/liquidity-farming-mechanics

Q4. I understand that Equilibrium is a project developed on the Polkadot blockchain, but why did they decide to use Polkadot instead of other more powerful blockchains like Ethereum or BSC? With winning the parachain slot, how will this help Equilibrium grow strongly in the future?

Ans. Ok, so the long story short. We decided to choose substrate because of interoperability and Polkadot & Kusama shows us how it can be achieved via the concept of parachains. That’s the main hurdle of DeFi 1.0 — lack of interoperability.

If you built something on Ethereum you are locked in its ecosystem. However, if you are developing on Polkadot, you have no boundaries because of interoperability and bridges.

That’s basically it😎Done✅.

Wolf : Yeah!I believe interoperability is the futureBut it’s cool on paper,execution is the key.

Q5. Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?

Exactly! But we’ve already implemented it 😎

You can stake any assets in Genshiro, bridge all supported assets via our KSM / ETH / BSC / HECO bridges and earn up to 25% APY. I can say that we’ve been developing Equilibrium since 2018 and aim to become DeFi 2.0 in Dotsama ecosystem. Join our Republic campaign and then leverage your crypto with our application.

Take a look on Genshiro. Recently we’ve released built-in DEX on platform: https://genshiro.equilibrium.io/exchange/en/trading

Let’s move for Community Round

Q1. According to the roadmap, what is your most important next priority?

Ans. Our most important priority at the moment is the launch of Equilibrium application as well as our Republic campaign.

Remember, that you need to join the whaitlist in order to get EQ tokens: https://equilibrium.io/en/republic-offering

Upon joining the waitlist you will get:
1. Be eligible for a special EQ drop
2. Access the offering 48 hours before it officially starts
3. Get a guaranteed EQ allocation

Wolf : And also, don’t forget about our EQ airdrop as well: https://bit.ly/EQGleamGiveaway1

Q2. Could you elaborate on Genshiro? How functions could this product accomplish specifically? Which allows Equilibrium and Genshiro to offer services with lower risks and cross-chain accessibility?

Ans. Genshiro is a DeFi platform with high leverage. You can start use it now and earn up to 25% APY on your crypto: https://genshiro.equilibrium.io/en

Ans. Let me share our social media, so you can always be on top of the things with Equilibrium and Genshiro:

👉 Equilibrium Twitter: https://twitter.com/EquilibriumDeFi
👉 Genshiro Twitter: https://twitter.com/GenshiroDeFi

👉 Our Medium: https://medium.com/equilibrium-eosdt
👉 Publish0x: https://www.publish0x.com/@EquilibriumEOSDT

👉 Telegram community: https://t.me/equilibrium_eosdt_official
👉 Telegram News Feed: https://t.me/equilibrium_news_feed

👉 Genshiro community: https://t.me/genshiro_official
👉 Genshiro News Feed: https://t.me/genshiro_news_feed

Join us, so you will always be updated!

Now the session ends with lots of thanks to our Guest Speaker…

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