Equilibrium Has Allocated 200,000 EQ Tokens to Support Manta Network
To show our support, Equilibrium's teaming up with one of the top three crowdloan projects on Polkadot's auction, offering doubled rewards for community backers who lock their DOTs for Manta via xDOT.
This time, Equilibrium's xDOT is getting behind Manta Network whose COO and Сo-founder Kenny Li was a star guest on our Special Community Call on November 25. Specifically, we're doubling the crowdloan bonus from 0,5 EQ to 1 EQ for participants who lock their DOTs up for Manta with xDOT for a period of two years, and contributing a chunk of 200,000 EQ to reward backers for this service.
We at Equilibrium see Manta as a pal parachain thus providing more value to the Polkadot community. The Manta Network targets an important issue of blockchain - privacy preservation. Mainly consisting of the decentralized private payment protocol and the decentralized private token exchange protocol, Manta is privacy-focused. It offers a cutting-edge privacy solution as its protocol uses zk-SNARKs, a non-interactive form of zero knowledge proofs, to deliver scalable, private transacting and swapping. Along with Groth16 proofs, the same cryptographic technology is implemented behind privacy-oriented cryptocurrency Zcash (ZEC).
The xDOT (liquid DOT staking product) will be moving forward to help reward community members who support Manta Network through xDOT to earn the usual Manta rewards plus a 100% increased bonus that amounts to 1 EQ token per staked DOT. This bonus is coming from a special allocation of 200,000 EQ tokens assigned specifically for this crowdloan campaign. Equilibrium is motivated by the idea that it lowers barriers for new projects and increases liquidity in Polkadot DeFi.
Equilibrium is a cross-chain DeFi super-app that combines a money market and a spot market with margin trading. The platform performs the full gamut of DeFi functions from pooled lending and synthetic asset generation to decentralized trading. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
About Manta Network
Manta Network is the privacy-preserving DeFi stack built on Polkadot. It leverages such cutting-edge cryptographic constructions as zk-SNARKs, a non-interactive form of zero knowledge proofs, to deliver scalable, private transacting and swapping. The Manta token (MANTA) is a utility token that rewards the token holders with a redeem mechanism on the Manta Pay and Manta Swap usage fees.
Bid for Manta here.