Equilibrium Has Successfully Closed Its Series A Venture Round

April 08, 2021
Equilibrium Has Successfully Closed Its Series A Venture Round

We are pleased to share that Equilibrium has closed a Series A round of financing, securing $2.5 million from a uniquely multinational collection of investors.

This Series A round consists of investment from influential ecosystem funds:

With our comprehensive lending platform and a professional-grade cross-chain DEX already operational, the fresh influx of resources from this investment round will go toward winning the Polkadot parachain lease auction with $43 million in DOT. You simply can’t get there without support from some of the biggest players in the ecosystem.

At the same time, this backing goes beyond the financial: Equilibrium is gaining a series of strong strategic partners in navigating the volatile crypto waters. Here’s what our CEO Alex Melikhov had to say about it:

“It’s extremely heartening to see this collection of funds come together to lend their momentum to us as we endeavor to redefine Polkadot DeFi. The Equilibrium team and user community is grateful for this support — securing our parachain slot on Polkadot is just a preliminary step in that mission, but it’s an extremely important one.”

We are about as set to achieve that goal as we can be. Equilibrium is already production-ready with an Ethereum bridge, pooled lending, and a decentralized stablecoin. Our bailout mechanism is a significant improvement over the usual DeFi auctions for debt management, and a spot market with embedded margin trading functionality is on the way.

We’ll next be kicking off the first phase of our parachain lease offering, a DOT/EQ token swap. You can read more about that upcoming process right here.

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