London, September 24, 2020. Equilibrium, the DeFi project, built on the Polkadot Substrate, has started its Testnet today. Equilibrium is creating a cross-chain money market, and represents an unprecedented offer in DeFi, combining pooled lending, decentralized stablecoins, synthetic asset generation, and trading.
On the Testnet, users can already try the EQ token distribution technology according to the project’s tokenomics model. This will be especially relevant to the participants of the ongoing NUT/EQ token swap (that will last until September 29). They will be able to make a claim for test EQ tokens using the private key from the ETH address that they provided to the token swap, to ensure claims after the token generation event. Users will have access to the information page about their vesting schedule and the ability to pull claim vested periodically to receive additional test tokens according to their vesting schedule.
In line with Equilibrium’s product line, soon in October, users will be able simulate trading “virtual” portfolios, generate stablecoins, transfer them, pay fees, earn interest on safeguarding the system. Also, the project is concurrently preparing for Mainnet and its parachain roll-out, for which it has assembled a group of validators (Staking4all, P2P.org, Staker.space, W3F, Simply VC, Stateless.money, Justontime.io, etc.) experienced in working on the Kusama and Polkadot technologies.
Equilibrium sees its calling in opening up the colossal remaining market potential within DeFi that will become accessible with its solutions, which enable interoperability between protocols, and maximize value for every DeFi user.
Three key features differentiate the technology from other projects. An on-chain risk algorithm monitors overall system liquidity across blockchains in real time, from individual users’ multi-asset portfolios to total system solvency. The programmatic interest rate effectively maintains system solvency and lets borrowers choose a balance between risk and collateralization. The bailout mechanism provides a proactive solution to bad debt — the system automatically incentivizes “bailsmen” to secure loans and to provide more liquidity in advance by earning more when the system detects that liquidity is low.
Equilibrium is the first decentralized cross-chain money market built on Polkadot that combines pooled lending with synthetic asset generation and trading. Equilibrium is set to open up the vast potential of the DeFi market and become its #1 app by offering exceptional services to the users of previously isolated major crypto assets. Visit: equilibrium.io
Featured image via Pixabay.