Introducing Exchange And Guardian, Equilibrium’s Two Newest Products
In case you were wondering, we continue to build DeFi products on top of the Equilibrium framework. We’re announcing the release of our Exchange and Guardian smart contracts, which join the EOSDT stablecoin to round out our ecosystem of DeFi projects.
Guardian is a smart contract that accelerates the purchase of liquidated collateral and the burning of EOSDT “bad debt.” In the latter case, this contract goes straight to exchanges, converts collateral back to EOSDT, and then returns it to the margin caller (along with the profit). The guardian contract will evolve into a liquidity pool in iterations to come, and will also be able to monitor the state of a liquidator, letting users supply EOSDT or EOS to the guardian contract. Combined with automated margin calls that we released earlier, this represents the most agile liquidation system for undercollateralized positions in the entire DeFi space.
The Exchange contract (it’s technically called “eos2dtdotcom”) is designed to be an on-chain liquidity provider with a built-in decentralized liquidity pool. When guardians integrate this contract within their code, they can more easily buy out liquidated collateral and sell it at a profit with a single transaction. This contract currently supports the EOS/EOSDT, EOSDT/USDT, and NUT/EOS trading pairs, but we are planning for it to become a fully-functional on-chain decentralized exchange complete with its own API!
Guardian and Exchange are open-source products that dovetail elegantly with our existing EOSDT offering — they enhance the EOS ecosystem and expand the DeFi industry at the same time. We dream of making mass DeFi adoption a reality, and these smart contracts are two of our contributions to getting there.