Equilibrium In Review: March 2021
March was a productive month for Equilibrium that saw us achieve important milestones and deepen our connection to our users. Whether you’ve just joined us on our DeFi journey or are an O.G. user from our earliest days, we want to transparently share our progress toward the goal of unlocking the full potential of the DeFi market.
Our first milestone for the Curve grant is complete!
We are making great progress in meeting technical requirements that will secure us a grant from the Web3 Foundation. We have submitted our code for approval and are currently waiting for any updates.
This grant is specifically about porting the Curve AMM protocol to our Polkadot parachain. We’ve completed a module design that will handle assets in a new way, using a new asset trait. We also introduced customizable liquidity pools that let users specify which assets should be in it, and we implemented a method for invariant calculation.
We’re ready to kick off the first part of our two-phase PLO
We will conduct a parachain lease offering in two stages, a token swap that’s followed by a crowdloan. Everyone is presently gearing up for the token swap starting on April 12, so we published this guide about how it works and what to expect.
Equilibrium has won the parachain slot on Rococo V1 testnet
We announced the news ourselves via this tweet! Wait till you see what we have in store here.
Our cross-chain stablecoin has a name: introducing $EQD
We polled our users to name our new USD-pegged decentralized stablecoin — it’s going to be called EQD, short for “Equilibrium dollar.” This simple naming convention makes it easy to launch comparable stablecoins pegged to different currencies in the future. EQE might be pegged to the euro, for example.
We hosted our PolkaDeFiance event!
It wasn’t just another virtual event about crypto, it was four hours of high-quality programming and conversation about Polkadot DeFi, one of crypto’s hottest topics. More than 2,200 individual people tuned in to Polka DeFiance! You can watch the entire event by panel over at our YouTube channel, or you can read our written highlights here.
Our lending functionality is ready to go live on the testnet
We are prepared to unveil our lending functionality on the testnet, where it can safely exist as something that’s in production yet functional. People will be able to use it for “paper trading,” seeing what kind of returns they get using simulated money instead of real digital assets.
Band Protocol brings its decentralized oracle into our fold
Band Protocol is the latest oracle to integrate with our platform and add accessibility to price data on the open internet. Four oracles might seem like a lot, but there’s no such thing as a crowded party here — enhanced redundancy is the name of the game when it comes to navigating the volatile crypto market and security through mitigation of dependencies. DeFi projects like Equilibrium rely on price data coming from external providers — the more oracles we can incorporate into our system, the better.
We published “Bailouts: The New Normal For Managing Debt In DeFi”
We are continuing our series of educational articles that explains how Equilibrium works. The latest in the series explains how and why we introduced our bailout mechanism, as well as the advantages that it offers over the usual DeFi auctions. Check it out!
We had our fourth community call
Community calls are our once-a-month web conference check-in with our users. It’s a space for us to make announcements, review recent developments, and discuss our progress toward existing goals. All told, we had more than 220 registered attendees who asked more than 80 questions between our submission box and our live channels.