Looking Back On Equilibrium’s September 2021
It’s been another month of exciting updates and developments for the Equilibrium/Genshiro team. If you tuned into our recent community call, you’ll recognize many of these details from before, but we are here to collect the past month in any event!
Here’s what’s on tap in this edition of the monthly roundup. Check out the soundbyte headlines below and read on for more details on each.
- Genshiro’s closed beta is live with over $2.3 million TVL and over 30% APY mining rewards!
- We had our 10th community call: Fluid DOT staking, Gens opt-out details were announced
- Genshiro was listed on DeFi Llama
- Kusama Demo Day took place on September 2 and drew over 1,000 attendees
- We published two educational articles about free transactions on Polkadot and an explanation on how to use Polkadot.js extension to vote for Kusama parachains
- We appeared on the Crypto & Things podcast as well as in the Web3 DeFi Privacy Forum!
Genshiro’s closed beta is live with over $2.3 million TVL and 30% APY mining rewards!
We’ve launched Genshiro’s substrate in closed beta, and it is available right now for registered users. Every beta participant gets access to our cross-chain DeFi products, as well as GENS staking and mining. They will also get an extra 5% APY in GENS (via liquidity farming) on their average deposit during the first three months after Genshiro launches.
Since Genshiro launched in closed beta on September 2, we've already achieved a total value locked in excess of $2.3 million, and there’s currently an APY over 30%!
If you’ve joined the beta and are trying to figure it out, feel free to check out this helpful guide. If you want to sign up and join the beta, you are welcome to ask active users for an invitation in our chat. Each active beta participant can invite up to two friends to join.
We had our 10th community call: Fluid DOT staking, Gens opt-out details were announced
Our tenth community call has come and gone — were you there? We had about 90 participants in attendance, tuned in to Alex and Pete sharing relevant updates about our work. We covered our revolutionary fluid DOT staking, GENS opt-out, Equilibrium crowdloan waitlist and the bonuses structure, the official Curve implementation on Polkadot & Kusama, and more! Watch the video replay here. You can also check out the text recap in blog post format right here.
Revolutionary fluid DOT staking
We’ve developed a mechanic that completely changes the user experience of crowdloan campaigns. Our fluid DOT staking makes it possible for users to stake their DOT for their favorite parachain and get DOT wrappers that are actually usable on the Genshiro (as opposed to seeing their liquidity locked up for two years). Genshiro is already running and has a lot of functionality on offer, like its lending platform with over $2 million in total value locked.
You can use these wrappers in Genshiro liquidity pools to start earning yield right away, or even use them as collateral to take out a loan from the system. It’s never been done this way before!
GENS opt-out mechanism
Any potentially disappointed lockdrop participants from back in the day have the option to opt out of GENS. Those who want to opt out will have the opportunity to transfer their whole allocation from the lockdrop to the GENS pool. Those who want to bid for the GENS that will be compounded in this pool can submit BUSD to get these tokens. The final price of GENS will be defined by the proportion of GENS to the BUSD pool.
Genshiro was listed on DeFi Llama
DeFi Llama is an aggregator that tracks total value locked across various projects. Now you can track Genshiro's TVL and other stats on this page.
Kusama Demo Day took place on September 2 and drew over 1,000 attendees
With help from our media partners at CoinTelegraph, Equilibrium and Genshiro hosted a very full and successful Kusama Demo Day for a large internet audience! A number of projects that have actually made it into production on Kusama Network joined us to showcase their efforts, and we had more than 1,000 people tune in to watch the program live on the day.
You can check out this text recap to see what you might have missed or watch video replays here.
We published two educational articles about free transactions on Polkadot and an explanation on how to use Polkadot.js extension to vote for Kusama parachains
We are in the middle of creating and releasing a series of articles about Polkadot and Kusama to educate our community. The second article of our series is out! Did you know it’s possible to send free transactions on Polkadot? Check out this explanatory article by our developers to learn how it’s done, just be warned that it’s quite technical.
Also, we want to make sure everyone following our progress has a strong level of competence and understanding when it comes to Polkadot-based interoperability and supporting crowdloans like our own. Check out this article on how to use the Polkadot.js extension and vote for your favorite parachain.
We appeared on the Crypto & Things podcast and in the Web3 DeFi Privacy Forum!
Our CEO Alex joined a panel discussion titled “How DeFi Projects Can Tap Into Privacy” at the Web3 DeFi Privacy Forum, which was organized by Manta Network. Check out the replay right here.
Alex also joined a hot DeFi discussion with Scott Cunningham, covering our cross-chain interoperable DeFi money market, as well as updates on our DEX and plans for the future. You can watch that replay here.
That’s all the substantive news that took place for us in September. We’ll see you next month with much more!