Equilibrium In Review: June 2021
June has been a packed and productive month for us, so let’s go through our updates and achievements!
Our Kusama parachain crowdloan is LIVE NOW!
We’re excited to announce that you can participate Genshiro’s crowdloan right this moment! We will distribute 240 million GENS tokens (20% of the total supply) as rewards to incentivize KSM holders to vote for Genshiro to receive a parachain slot.
According to the current GENS and KSM market prices, you can earn 75% APR when you participate in our Kusama crowdloan. As of July 2, this will apply to contributions over 50 KSM.
Instead of 1,000 GENS per KSM, small contributions will now get 2,000 GENS per KSM. If you lock 50 KSM or more, you can expect a 20% bonus on top of that.
After Genshiro wins a Kusama parachain slot, 10% of the participant contribution in GENS will be immediately unlocked. The remaining GENS will be claimed by way of linear vesting during the parachain lease period.
We completed the W3F grant for bringing the Curve AMM to Polkadot and Kusama
Our implementation of the Curve automated market maker will first launch on Genshiro, so we have met all the requirements necessary to receive a grant from the Web3 Foundation. You can read more about it right here.
Our GENS IDO on DODOex is complete
GENS is the utility token for Genshiro, Equilibrium’s canary network on Kusama. Its use cases include voting for validators, paying transaction fees, and paying interest rates. It will also work as liquidity for bailouts and collateral when GENS becomes more established.
We had 318 participants in the IDO, raising a total of 286,000 BUSD. GENS is available for trading right now on DODOex.
GENS got listed on Kucoin and BKEX
We successfully auctioned a variety of NFT cats
We raised 310 ETH worth approximately $630,000 by selling a collection of NFT cats. All of that money will go toward covering our operational costs, as well as funding our bid for the Kusama parachain slot auction.
Each NFT bears the image of a cat pertaining to a different cryptocurrency — BTC, ETH, DOT, KSM, GENS, and EQ are represented by our adorable kitty cat NFTs. They also come with a fun feature that depends on the real-time price, provided by Chainlink price feeds. When these various cryptocurrencies cross a certain price threshold — when BTC crosses $100,000, for example — it will unlock a golden version of each cat.
You can read more about our NFT cats right here.
We appeared on a number of podcasts and AMAs
If you want to go even deeper into our work and get the details straight from our CEO, then you tune into one (or many) of the podcasts we’ve been featured on lately. You can catch us on Crypto Coin Show, Unstoppable, the AMA with Bluzelle in our Telegram group, and the AMA with PolkaWarriors. Lots of details about our Genshiro crowdloan are waiting for you there.
We held our seventh community call
Once a month, we hold a live video conference to interface with our community, answer their questions, and issue updates about what we’ve been up to. You can read a full text recap of that call here, or you can watch the video replay here.
We’ve migrated our asset functionality
Now Equilibrium and Genshiro alike will support automatic asset addition to the blockchain, without the need to redeploy any code. Here’s to highly efficient interoperability!
We’re ready to apply our Ledger app to Ledger Live
We’ve finished the development of our Leger app. It supports the DOT, KSM, EQ, and GENS assets and networks, as well as their corresponding prefixes and derivation paths. This means we are ready to apply for Ledger Live listing. Once we’re there, we will become the first substrate project to add direct support for Ledger devices into our substrate/parachain.
We’re happy to be passing time productively and bringing the full potential of the DeFi market to bear! Thanks for following our updates, and as always, be sure to stay tuned for what happens next.