What We Got Up To In July

August 05, 2021
What We Got Up To In July

t’s been another exciting month of community engagement and technological developments as the Equilibrium team endeavors to unlock the DeFi sector’s maximum potential.

This month we have DAI and Ledger support to talk about, as well as the first-ever Polkadot and Kusama BSC bridge, results of the first Kusama auction and a special offer for the second round, and more.

Have a look at our month in review below, and do be sure to join our Telegram community and follow us on Twitter if these kinds of things speak to you.

Kusama auction results, doubled rewards, and a special offer for contributions over 500 KSM

The Kusama auctions were one of the biggest events in the Kusama and Polkadot ecosystem. We saw quite a lot of activity and were happy to take part there with our canary network, Genshiro.

We raised over 8,000 KSM worth some $15 million, according to current market prices. With right around 1,000 total participants, the average contribution to our campaign was 7 KSM.

We ended up taking 9th place by number of contributions after Altair.

There’s never been a better time to throw your support behind Genshiro — we seek to win a Kusama parachain slot in the second round of auctions. We are overhauling our rewards structure by doubling the rewards for those who contributed in the first round (up to 4,800 GENS per 1 KSM), offering a 20% bonus for any contributions over 50 KSM, and offering a 25% bonus for early participation (joining the crowdloan in the second round during the first 7 days).

Also, if you staked more than 500 KSM during the second round, you’re eligible to receive a special offer! Just submit this application form.

The first-ever Polkadot & Kusama <> BSC bridge is live on the testnet!

We’re the first team in the crypto world to create and implement a Binance Smart Chain bridge on Polkadot and Kusama. This bridge will enable bi-directional asset transfers between the BSC-based network and Substrate-based networks (Polkadot and Kusama). You can try it out using BUSD tokens on our testnet — read more here to get started.

Equilibrium Supports MakerDAO’s DAI

DAI is a major USD stablecoin, and we are pleased to share that it will be compatible with our full suite of DeFi services, opening up even more use cases. StableNode will be providing initial DAI liquidity. Check out the announcement right here!

Equilibrium supports Ledger devices

We are the first substrate project to add support for Ledger devices directly into our substrate and parachain. Our Ledger app supports assets on the DOT, KSM, EQ, and GENS networks, as well as their corresponding prefixes and derivation paths. Our Ledger Live listing is also pending, so we will be proud to bring a wide swath of new support to the Ledger community soon.

This development significantly improves security for those holding EQ and GENS in a Ledger device. Check out the full details here.

Equilibrium And Genshiro Partner With Pinknode

Pinknode has agreed to provide us with secure API endpoints, full node-running services, and collator node-running services. In return, we can send traffic to Pinknode’s architecture, which will see higher usage volume as traffic increases on our platforms. Both of us will benefit as we work toward winning a parachain slot. Read more here.

Equilibrium opens up local international communities

We’ve made the strategic decision to engage with our local communities in Russia, Turkey, Vietnam, and Latin America. We will be sharing our developments at Equilibrium with them and publishing fresh content in their local languages. We are also introducing our platform to local opinion leaders and media outlets in these countries.

As the first step to this end, we have significantly expanded our Telegram community offerings so that Equilibrium users can chat with each other locally and in their own language. We’ve now got discussion groups for our users in Russia, Turkey, Vietnam, and Latin America.

We’ve appeared on a number of podcasts

Our CEO Alex participated in an episode of the Crypto And Things podcast. It comes out soon, watch this space to catch it. Alex also appeared on an episode of Chainlink’s podcast, so check it out here.

Our lead analyst Peter participated in a Russian language podcast by Slezi Satoshi.

A number of community events took place

It’s been a great time for the Equilibrium and Genshiro communities. We recently completed our CoinMarketCap airdrop with 180,000 participants, for example. We’re also running a cool promotion with DotMarketCap where people can earn up to 20,000 GENS just for learning about Genshiro.

Our eighth community call was on July 29

We covered our latest tech updates, Genshiro’s strategy for the second round of parachain auctions, our Binance Smart Chain bridge, DAI integration, Kusama crowdloan stats from the first round of auctions, and more!

Check out this text recap or watch a full replay here.

There you have it: another month on the books as we continue down the path of unlocking the DeFi sector’s maximum potential. We’ll see you at the end of August!

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