Equilibrium November Updates
This month was full of major news and milestones, and we’re not even talking about the American election. Let’s take a look back at what Equilibrium accomplished in November.
Our main products are live on the testnet
Join our testnet and take our products for a test drive! We’ve launched our core business logic there and we’re eager for our users to check it out. They can earn passive income by staking collateral that secures loans, or borrow Equilibrium’s USD-pegged stablecoin against a basket of varied crypto collateral.
Almost every technical component we need for our cross-chain money market is in place. The systems for on-chain risk management, pricing, balances, bailout modules, deposits, transfers, and withdrawals are up and running now. You can read more here.
Our mainnet is live, and EQ tokens are available for claiming
Our token generation event saw our newly minted EQ tokens released into the market — you might want to check out our step-by-step guide on how to claim your tokens. EQ can be used as collateral in a fashion similar to Sythetix’s SNX. Users can earn passive income on their tokens by putting them in Equilibrium’s bailout pools to secure the overall liquidity, becoming so-called “bailsmen” for the system.
Users might also want EQ for paying fees, voting for Substrate validators, and gaining access to Equilibrium’s community governance mechanisms. EQ is the system’s core utility asset used in its products. See more details here.
Our white paper is live
We’ve released a thorough technical document that explains how Equilibrium works from top to bottom. Whether you’re an established DeFi fiend or a curious newbie, you can dig into our white paper. Just put your email address in the special window on the website and we’ll send it to you right away.
We explained the fundamentals of our platform
We published a big-picture writeup of Equilibrium, how it works, and the user roles the system requires. This first piece is starting off a series of ELI5 articles that will be explaining various aspects of our DeFi one-stop-shop in simple terms. You can learn more right here.
Partnership with Stafi_Protocol
We teamed up with DeFi protocol StaFi to make our networks and assets more compatible with each other. Now users will be able to borrow more assets from Equilibrium to stake to StaFi against rTokens, or they can lend rTokens out and earn yield on top of interest they get from staking. This works to bring more liquidity to StaFi and rTokens, and enhanced liquidity is a strong benchmark for projects that might consider integrating with Equilibrium. Read more here.
We partnered with ChainLink and Bluzelle for diversified price feeds
We will use Chainlink’s price feed to power our stablecoins, lending synthetic asset generation and enhanced functionality to our Polkadot-based cross-chain money market. Chainlink price feeds will provide our smart contracts with accurate pricing data for properly issuing loans, pricing collateral, and executing trades with synthetic assets, all in a completely decentralized manner.
But a diversified price feed is an important part of any DeFi protocol. That’s why we simultaneously integrated Bluzelle’s decentralized price feed for use with our main DeFi services like lending, borrowing, and trading. Our price feed gets more redundant without the need for complex development.
A new partnership with Reef Finance
We’ve partnered with Reef Finance in a way that will boost liquidity for both our platforms. We are helping them bootstrap some initial liquidity to start, then we’ll get the same courtesy from them in the future.
Equilibrium.io is live on Subscan.io
All three development milestones for the W3F grant are complete
Our financial pallet has met all three milestones to satisfy a grant by the Web3 Foundation. This includes initial implementation, calculating returns and correlation, and calculating volatility. You can read more here.
EOSDT now supports ETH for collateralized positions!
We are continuously maintaining our EOS-based products. EOS and BTC cryptocurrency can already secure a collateralized Equilibrium position in USD-pegged stablecoins. Now we’re opening the door to Ethereum, the most popular cryptocurrency in DeFi, to serve a major population of crypto users. Read more here!
Stay tuned for further updates!