A Roundup Of Equilibrium’s 4th Community Call
We are hitting a stride with our monthly community calls. They’re a means for us to check in with our community of supporters and issue public-facing updates about our products and technology.
We held our fourth community call on Friday, March 26. All told, we had more than 220 registered attendees who asked more than 80 questions between our submission box and our live channels.
You can watch a video replay of the call right here if you weren’t able to watch it live, or you can simply read on for our roundup of all the relevant takeaways.
Tech and product updates
Our lending functionality is live in a pilot phase that’s limited to the liquidity of the bailsman pool. We’ve successfully completed simulation and integration tests by borrowing non-USD assets with it. Lending on Equilibrium works by way of a weighting calculation that determines how much it can lend out. This will be limited to no more than 50% of the total liquidity of an individual asset, ensuring sufficient bailsman reserves in case there are future liquidations.
We have completed the first milestone for the Curve automated market maker grant we applied for with Parity and Web 3. And we’ve also completed the user interface for the first-phase token swap of our parachain lease offering.
Here comes the PLO
Our two-phase PLO formally begins on April 12, 2021 when we kick off a DOT/EQ token swap. Participants will submit DOT and receive EQ tokens in exchange at an initial swap rate of 0.07 DOT per 1 EQ. They can earn up to 25% bonuses for participating, and they simultaneously get the right to swap their DOT back for EQ at the end of the parachain lease period for free, all while keeping any earned bonuses in EQ.
Every participant will undergo basic KYC processes on our website in advance so that we may operate compliantly. Our custodial partner for this token swap is Copper, a trading infrastructure that offers rapid settlement times, institutional execution, and more. The gatekeeper will be Signum, a Singapore-based company that participates in pre-sale stages of token generation events and equity investments.
After the token swap closes on April 25, we’ll be making ready to initiate a crowd loan to complete the second phase of our PLO.
Equilibrium will be on Kusama as well as Polkadot
We plan to participate on Kusama in a similar fashion as we plan for Polkadot, but with a few key differences. First of all, there will only be a crowd loan instead of a KSM swap. We will also offer an attractive premium structure that looks like this:
*i.p means initial premium
We also offer additional bonuses for users:
- Users doing the EQ/DOT swap profit directly from KSM: They will get 10 KEQ in addition to every EQ they have.
- This holds both for current EQ holders and also for EQ holders who want to participate on our PLO on Kusama.
Our next step here will be a naming contest for our utility token on Kusama!
With some 2,200 people tuning in live, our Polka DeFiance virtual conference was a hit. We had four hours of A-list programming at the intersection of Polkadot and DeFi. We had panels and presentations featuring guests from reputable entities like CoinTelegraph, Polkastarter, Injective Protocol, and more. If you weren’t able to attend and watch live, then you only need to check out this text recap.
We need your help getting votes and attention for our ideas on Polkadot Decoded! If you’ve got a moment to lend your support, please go there and cast your vote for “Bailouts vs. auctions,” “How Equilibrium uses Polkadot for maximum DeFi liquidity,” “How Equilibrium uses Polkadot to enable multiple-collateral stablecoins,” and “Bridging assets from Ethereum to Equilibrium” as your favorite topics! You are able to vote for 3 out of 4 topics. Voting is open until March 31, thanks in advance for your support.
We announced a developer meetup in Moscow taking place April 17, and we’ll have some guest speakers on hand to supply some interesting topics. Fedor Sakharov of Parity, Alexey Karasov of McKinsey, and Equilibrium’s very own Benjamin Khrapov will each present for in-person attendees or for those watching the recorded event later.
Right now our focus is on facilitating a successful PLO, but our plans go far beyond that. Reading writeups like this one is a great way to stay on top of our latest developments. If you want to catch our latest current events as they happen, be sure to follow us on Twitter and Telegram, subscribe to our Medium blog, and attend our live community events!