Moonbeam Will Integrate Equilibrium’s Cross-Chain USD-Pegged Stablecoin
We’re happy to announce a meaningful partnership with Polkadot-based DeFi project Moonbeam.
Moonbeam is a smart contract platform that delivers broad compatibility and support for Ethereum-based projects to extend to Polkadot. Since Moonbeam supports Solidity smart contracts, Ethereum account structures, and works with the most popular development tools, Ethereum developers can easily deploy code out of the box (without making significant changes) to launch an application on the Moonbeam parachain. Widely-known project SushiSwap recently announced its intention to roll out its automated market maker protocol on Moonbeam’s platform. We can expect other projects to follow suit.
Equilibrium and Moonbeam have agreed to collaborate integrating Equilibrium’s stablecoin into the Moonbeam ecosystem. This collaboration will be a great example of two Polkadot parachains working together to enable native token utilization between chains.
Moonbeam’s emerging DeFi ecosystem will need stablecoins, the figurative engine that powers many DeFi projects. Moonbeam’s platform lacks a native stablecoin, so this collaboration is a natural fit that provides value to both of us. Projects running on top of Moonbeam (like SushiSwap) will benefit from this integration because they gain easy access to our “dollar on the blockchain.” (One natural use case is to open liquidity pools with our stablecoin on SushiSwap.) Equilibrium benefits by gaining applications that go beyond our own substrate-based parachain — our stablecoin will be compatible with the many projects expanding from Ethereum to Moonbeam.