Equilibrium 2019 Report: Approaching A Year Of Stability
As we close the final chapters of 2019, the new year serves as a reminder that Equilibrium will celebrate its one-year anniversary in early 2020. Launched in February to bring stability to the volatile crypto space, Equilibrium has released products, sponsored events, and generally evolved in the time since that recent but oh-so-distant launch.
Thanks for following along with us over the course of 2019. We’re extremely proud of the work we’re accomplishing to take decentralized finance to the mainstream, as well as bring common-sense financial stability to the volatile crypto market.
Meeting both of those goals called for adaptive strategies and having highly capable fintech developers on hand to implement changes and solve problems.
We’ve had at least one noteworthy event every month since launch (and that includes launch month). Here’s how the Equilibrium team will remember its 2019:
Provable (ex-Oraclize) EOS oracle integrated
We joined forces with Oraclize.it right as they rebranded to Provable. Their oracle service provides us with highly accurate, verified price data for digital assets.
Price feeds contract released
The smart contract that determines the price data that drives the entire system’s governance went live.
Equilibrium’s first project EOSDT released
Volatile crypto markets call for a common-sense store of value. That’s why we released EOSDT.
HitBTC adds EOSDT & NUT pairs
The popular decentralized cryptocurrency exchange added trading pairs for Equilibrium’s EOSDT and NUT assets.
We speak Chinese
EOS has major traction in China, and we were pleased to begin offering a comprehensive Chinese language content track for that country.
Equilibrium hosts the EOS Hong Kong Meetup
The Equilibrium team was on location in Hong Kong to host the region’s monthly EOS meetup. Topics of conversation included crypto regulation, blockchain governance, and the EOS-based Burning Man camp called CampDAO.
Changelly adds EOSDT & NUT for swaps
Crypto exchange Changelly adds support for Equilibrium’s digital assets, letting users swap EOSDT and NUT. People holding EOSDT or NUT can use Changelly to trade directly against more than 130 other assets.
Newdex lists EOSDT and NUT pairs
Another exchange adds valuable trading support for EOSDT and NUT.
Integration with REX for staking EOS collateral
In some sense, you might think of Equilibrium as a gigantic infrastructure project for the EOS. In July we completed an integration with EOS’s Resource Exchange that lets us stake the system with superfluid collateral.
Huobi Wallet adds EOSDT & NUT
The global crypto company offered wider support and distribution for those seeking to trade in Equilibrium’s core assets.
On-chain BP voting system launch
Our on-chain block producer voting mechanism is a system that lets the Equilibrium community determine which block producers to stake in order to continue perpetuating EOS’s decentralized proof-of-stake network. The decision is made by way of blockchain-enabled voting — participants spend NUT tokens in order to cast their vote for who should be staked with Equilibrium’s collateral holdings..
Automated margin call mechanism
Automated margin calls are trades executed via smart contract that liquidate a user’s collateralized debt position at a discount before the position becomes insolvent. This adds an important layer of automation to how the Equilibrium framework operates.
EOS Titan’s Delphi Oracle integration
Redundancy isn’t always a bad thing, and when you’re talking about the price of digital assets, it’s good to have multiple inputs. Joining our Provable-powered oracle price feed is the same infrastructure via EOS Titan’s Delphi Oracle. More inputs make for a more accurate framework-wide sense of the market.
Liquidation penalty 15%, collateralization 130%
Our decentralized governance model allows for the community to vote and change the parameters that drive the overall system. October saw the first such realignment, and the theme was clearly about reducing barriers: the liquidation penalty was lowered to 15% and the minimum collateralization threshold was lowered to 130%.
Crypto DeFiance Singapore
After attending meetups and conferences around the world, we decided to put on a conference of our own in conjunction with the well-attended BlockShow Singapore 2019. Our event was the day immediately following the conference, and those carrying BlockShow admission could attend our Crypto DeFiance event for free. It was a day of stage presentations and panels about cryptocurrency and blockchain topics, and the well-attended event seems due to reprise somewhere else again soon!
Introduced BP rewards for Equilibrium EOSDT proxy voting
Beyond the passive income opportunities afforded by Equilibrium’s REX integration, users can also earn money when block producers offer digital assets in exchange for their vote (and successful staking).
Equilibrium’s Stability Fund
Serving as a figurative insurance policy against sudden market downturn or other black swan event, Equilibrium’s Stability Fund exists to provide the system with robust liquidity as it liquidates unfavorable positions.
Introducing Exchange and Guardian
Joining the EOSDT stablecoin, Exchange and Guardian are the two newest products by the Equilibrium team. The Exchange contract (it’s technically called “eos2dtdotcom”) is designed to be an on-chain liquidity provider with a built-in decentralized liquidity pool. Guardian is a smart contract that accelerates the purchase of liquidated collateral and the burning of EOSDT “bad debt.”
Fiat on-ramp with MoonPay
Our MoonPay integration makes it possible to buy EOSDT with an ordinary credit card.