Epsilon, The Curve.Fi AMM on Kusama and Polkadot, Is Live

October 26, 2021
Epsilon, The Curve.Fi AMM on Kusama and Polkadot, Is Live

Equilibrium has launched the official implementation of Curve.Fi’s automated market maker, Epsilon. Epsilon will run on Genshiro, Equilibrium’s Kusama-based canary network, and will later be integrated with Polkadot. Its development was supported by a grant from the Web3 Foundation. Bringing Curve to Kusama and Polkadot is an important technical development that effectively makes interoperability real and practical.

Curve.Fi is one of the most efficient AMMs to pair similar assets, and Epsilon makes it interoperable between Ethereum and Binance Smart Chain (with more networks to come). Interoperability lets users seamlessly swap stablecoins across liquidity pools on multiple blockchains with miniscule slippage. The Equilibrium team has set up the first stablecoin pool with liquidity in DAI, USDC, USDT, BUSD, and EQD, Equilibrium’s native decentralized stablecoin.

Being the official Substrate-based implementation of this AMM, Epsilon rewards veCRV holders by distributing fees to them that were applied to the total swap volume from all of the liquidity pools. The fee of 0.02% is taken in swapped assets, automatically converted to Equilibrium’s and Genshiro’s native tokens (EQ and GENS), and available for periodic collection by veCRV holders then.  

Genshiro is already accepting Epsilon’s LP tokens both as collateral and liquidity provision. This is an important synergy between the two platforms, as it provides fluidity to assets locked in Epsilon and even lets its users earn interest from borrowers on Genshiro and yield via Genshiro’s liquidity farming program. Epsilon is ready for you to experience it firsthand.

“Once we make sure that everything works as intended, we will deploy the same functionality to our Polkadot-based Equilibrium chain, which we are planning for a later time,” said Equilibrium founder and CEO Alex Melikhov. “The future is interoperable, and it’s clear that Polkadot and Kusama are leading the charge on this front. We’re proud to be playing a high-level technical role in developing financial technology that will set a tone for the crowd going forward.”

“Cooperation with satellite projects is an important step towards expanding Curve.Fi's presence on different blockchains. Furthermore, we’re excited to have an additional opportunity to reward veCRV holders,” said Michael Egorov, CEO of Curve.Fi.

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