Equilibrium’s October In Review

November 10, 2021
Equilibrium’s October In Review

It’s been another month!

October has come and gone, and we think you’ll agree we’ve got a lot to show for it. We’re going to wrap up all the pertinent updates and developments we’ve made in October, then continue carrying that momentum happily into November. Let’s get into it.

  • Our revolutionary fluid xDOT staking is LIVE!
  • Our official implementation of the Curve AMM on Polkadot and Kusama is live!
  • We announced Equilibrium’s crowdloan bonus structure
  • The Genshiro UI got a facelift
  • We launched a GENS opt-out mechanism for lockdrop participants
  • We’ve updated the ambassador programs for Equilibrium and Genshiro
  • We held our eleventh community call and participated in Crypto Fest 2021

Our revolutionary fluid xDOT staking is LIVE!

We’re introducing a completely new and useful mechanic for the Polkadot parachain auctions. Thanks to our new fluid xDOT staking, users will be able to stake their DOT for their favorite Polkadot parachain and get xDOT, which are DOT wrappers on Genshiro, our canary network on Kusama.

You can use xDOT to earn yield on Genshiro or pledge to take out loans. Genshiro is already up and running in a closed beta mode and offers a lot of functionality, like a working lending platform with over $3.2 million of real liquidity already locked.

This means you don’t have to lose the utility and liquidity of any DOT that might be otherwise occupied for a parachain slot during the parachain lease period.

You can bid in DOT using our platform on all the projects that are running crowdloan campaigns right now. At this moment, that list includes Astar, Acala, and Linentry. We will of course be adding more names to this become available.

Some of these projects are offering additional bonuses for xDOT participants. For example, Astar has allocated an additional 30% bonus for our users. You can check these bonuses out here.

Equilibrium’s crowdloan campaign is not yet live, but you can support us in advance using the xDOT platform — we have prepared special bonuses for early supporters like yourself! Those who lock their DOT for Equilibrium until November 25, 2021 will get an exclusive 20% bonus on their regular rewards.

Vote for your fave parachain.

Our official implementation of the Curve AMM on Polkadot and Kusama is live!

We have launched the official implementation of Curve.Fi’s automated market maker, Epsilon. Epsilon will run on Genshiro and will later be integrated with Polkadot. The Equilibrium team has set up the first stablecoin pool with liquidity in DAI, USDC, USDT, BUSD, and EQD. Its development was supported by a grant from the Web3 Foundation. Bringing Curve to Kusama and Polkadot is an important technical development that effectively makes interoperability real and practical!

You can read more about Epsilon here.

We announced Equilibrium’s crowdloan bonus structure

We want to incentivize strong participation in our crowdloan, so check out the latest bonus structure:

  • A 10% bonus for waitlist participants on their contributions. (The waitlist is currently closed.)
  • A 10% bonus on contributions from PLO first phase participants.
  • A 15%+X whale bonus: Those who contribute 10,000 DOT or more will get a guaranteed bonus of 15%, and depending on how many tokens remain after we win the slot, these participants can expect to share the remainder proportionally to their stakes.
  • 6% referral bonus (3% for referrals + 3% for referees)

You can read more about the bonus structure here

The Genshiro UI got a facelift

We’ve made Genshiro’s interface more intuitive and user-friendly. Long story short, we’ve made it easier to become a borrower or liquidity provider within the platform, among other things. Here’s our visual writeup of the new layout.

We’ve released the Genshiro bonus structure for the next round of parachain auctions

This campaign is special — we will put the entire 150 million GENS allocation in the hands of our supporters. Currently 2,832 participants joined our crowdloan. There are over 24,000 KSM staked! You still have time to earn with the Genshiro crowdloan. Check the bonuses:

  • Current average rewards: 4,850 GENS : 1 KSM
  • 1,000 GENS per KSM for contributions over 500 KSM
  • 500 GENS per KSM for everyone who previously participated in the first and/or second rounds of Kusama auctions
  • 6% bonus for referral program participants (3% for referral + 3% for referees)

We launched a GENS opt-out mechanism for lockdrop participants

A number of users who locked their EQ for GENS were expecting to receive GENS tokens upon the successful completion of our Kusama parachain slot auction bid. Winning the Kusama auction is delayed for objective reasons, but we are invested in taking care of the users that make our work possible. So this innovative GENS opt-out mechanism is an opportunity for users who want to sell their GENS allocation and get BUSD until we launch our parachain on Kusama. It happens via an open auction process with no penalties involved. Hurry up and join the first wave of magnificent trades until November 11!

Check out the full details here.

We’ve updated the ambassador programs for Equilibrium and Genshiro

We are happy to announce a new wave of our ambassador program! This time we are welcoming not only our users, but influencers and their entire communities to join us! We’ve prepared a set of incentives for you to spread the word about Equilibrium and Genshiro and collect rewards in the process.

If you’d like to learn more about how you can be compensated for helping to spread the word about Equilibrium and Genshiro, just click here.

We held our eleventh community call and participated in Crypto Fest 2021

On October 29, we conducted our eleventh community call with our Founder and CEO Alex Melikhov and tech team lead Peter Sergeev. There were 128 participants! You can read the text recap of all those updates right here, or watch the video replay here.

Also, Alex moderated a panel discussion “Mirror Mirror on the Wall. Who is the Fairest of Them All? Battle of the Blockchains” with Alon Muroch (Box Staking) and Samy Karim (Binance Smart Chain) at Crypto Fest 2021. Watch a replay here.

There you have it: another month in the can! Thanks for your attention and consideration as we continue harnessing the full potential of the DeFi market.

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