Here’s What We Covered During Our Sixth Community Call

June 02, 2021
Here’s What We Covered During Our Sixth Community Call

We hold our community call once a month as a means to update our supporters on our latest news and technology updates. We just recently held our sixth-ever community call and it’s hard to believe they’ve been going on for half a year already!

As usual, this call featured Equilibrium CEO Alex Melikhov, senior project manager Peter Sergeev, and director of customer success Lesley Czuma. We had about 170 people watching the live broadcast, and they asked some 100 questions in advance and during the call.

You can watch the video replay of the live call here, or you can simply read the text recap of the call below.

Our tech updates

We’ve released a new version of the Equilibrium chain into production. Some of the improvements here include support for new oracles, a module to support our lockdrop, and a variety of bug fixes found during integration testing. We also deployed new margin call logic, which is effectively the first step in the long process of building a decentralized exchange.

We’re also preparing to register a Kusama parachain. Unfortunately Parity hasn’t announced any timing details yet, but we are actively testing on the Rococo testnet so we can be ready to go from day one.

We have a lot of tech updates planned for the near future as well! These include:

  • adding the Curve AMM pallet to Genshiro
  • adding a RenVM bridge to Genshiro
  • further developing our DEX
  • adding bridging support for stablecoins like DAI, USDT, USDC (this will help us set up a Curve AMM pool with stablecoins)

Our tech milestones

Our CEO presented at Polkadot Decoded

You can watch Alex’s keynote right here — he covered how Equilibrium offers bailouts (instead of forced auctions) to manage debt while maintaining constant liquidity and ensuring sustainable lending. He showed how our products are made possible by Polkadot’s unique technology, which enables interoperability, multi-consensus bridging, high scalability, collective organization, cumulative security, XCMP cross-chain messaging, and more. He also had the opportunity to shed some light on our Kusama-based canary network, Genshiro.

Our Kusama PLO is coming right up

We are holding a PLO on Kusama as a means to raise 100,000 KSM for a parachain slot. We are seeking eight lease periods lasting six weeks each.

Our crowdloan will be open for one week. Register for the whitelist right here or read the full details of our PLO strategy here.

In a nutshell, participants will be able to stake KSM to our parachain and earn rewards in GENS tokens during the parachain lease period. Users can earn up to 30% APR while participating in the PLO, but the actual premium will depend on the amount staked. The math looks like this:

We’re participating in Kusama’s crowdloan PLO platform on OKEx

You can read more here, but the important details are that OKEx is handling much of the technical backend we require to run a successful PLO.

Further GENS listings

We will hold an initial DEX offering using on-chain liquidity provider DoDoEx as one more way for users to acquire GENS. Thanks to the IDO, tokens will be immediately liquid & tradable. We will officially announce the IDO dates in our social media channels, so stay tuned!

Our lockdrop is live!

Those who participate in the Genshiro lockdrop will receive the utility token, GENS, at the rate of 10 GENS for each EQ locked. GENS plays a key role in the Genshiro network, as well as the DeFi products built on top of it. GENS holders use their tokens to express their opinions about the state of the system and enforce governance decisions via referendums.

Here’s a detailed guide on how to participate in our lockdrop. EQ token holders can get started right here.

Don’t miss the maximum bonus at the beginning of the lockdrop, which will decline to zero over the course of one month starting from May 27.

Right now our focus is on facilitating a successful PLO on Kusama, but our plans go far beyond that. Reading writeups like this one is a great way to stay on top of our latest developments. If you want to catch our latest current events as they happen, be sure to follow us on Twitter and Telegram, subscribe to our Medium blog, and attend our live community events!


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