Equilibrium’s February 2021 Wrap Up
If you’re out of the loop on what Equilibrium has been up to lately, you only need to read this summary of what we’ve achieved in February. As we enter the final month of the first quarter, our plans for making a big impact on the DeFi ecosystem are coming to life.
Here’s what we achieved over the past month.
Curve Finance is on its way to Equilibrium’s parachain on Polkadot
We have finalized plans with Curve Finance to bring a Substrate-based runtime version of their automated market maker (AMM) to our users and the larger Polkadot ecosystem. This is being done with support from the Open Grant Program by the Web3 Foundation.
Once complete, our Curve plugin will power a stablecoin exchange offering passive income for liquidity providers in a low-slippage environment. It will also become a highly efficient tool for exchanging homogeneous assets on Polkadot, whether they are DOT-based or different tokenized versions of the same asset, like Bitcoin’s WBTC and renBTC.
There’s a lot to say about Curve and what we’re working on. Check out our full article here.
Our ETH bridge is live on the testnet
Our EQ tokens are available right now for cross-chain transfers. We’ve also added support for Curve’s virtual CRV tokens, and we’re only going to be introducing further compatibility down the road. Long live the ETH bridge!
Learn about our EQ token and USD-pegged stablecoin
We published the two newest articles of our educational series on Equilibrium’s basics. The first one covers the key functionality of our EQ token, the second breaks down how our stablecoin works. Go get yourself acquainted with our products!
We formed new partnerships with Kylin Network and RockX
Kylin is an oracle solution working on our system for enhanced price feed redundancy. This ensures the price feeds that drive our interoperable money market are as accurate and reliable as possible. This partnership will see us integrate price feeds from Kylin as one more source for accurate data for valuating digital assets on our network.
RockX is a staking platform that had previously invested in Equilibrium and other projects. It will add support for our EQ token to its staking platform. This partnership will increase the utility of our native token while enhancing our overall system liquidity at the same time.
Equilibrium is on the way to the Rococo testnet
We have been invited to the sixth batch for integration on Rococco, which is Polkadot’s testnet for parachains. All the development and testing for new parachains takes place here before anything goes into production on Kusama or Polkadot. Our testnet integration will demonstrate equilibrium’s compatibility with Kusama and Polkadot. We expect integration to be complete in a couple of weeks or so.
We have held our third community call
Our community call is a once-a-month check-in with our supporters. We deliver our latest news and updates to keep everyone apprised of what’s going on. This time we had about 160+ attendees who asked more than 70 questions.
About our PLO
The whitelists for our token swap and crowdloan are now closed!
We are working with a dedicated custodian to enable the first phase, a token swap in which participants pledge their DOT for EQ tokens. We’re currently onboarding the custodian and will make an official announcement soon.
There you have it — our work in February is setting us up for a productive March.