Equilibrium: November in 2022 Review

This post was originally published here

After a productive October, we entered an exciting November. The month began with the EQ Phase 2 Offering announcement and our participation in the Web Summit in Lisbon. Here’s a recap of November and its events.

  • Equilibrium EQ Phase 2 Offering
  • EQ long-term utility
  • The use case for LP tokens in Equilibrium
  • The FTX Disaster
  • The Equilibrium Live Contest
  • Equilibrium Updates (including live launch)
  • Equilibrium Liquid Dot Staking
  • Equilibrium Updates
  • The Equilibrium team attended the Web Summit in Lisbon
  • Did you miss our community call?
  • Thank you, Equilibrium community

Let’s begin.

The EQ Phase 2 Offering Was a Major Success!

We’re excited by your overwhelming response on holding the EQ Phase 2 Offering. Participants competed for 200M in EQ rewards, with whitelisting attracting up to 20% extra EQ bonus. The EQ Phase 2 Offering was a success! Stay tuned for a detailed article with important updates. Users should also be keen on vesting, which is already underway.

For more information, click here.

EQ Long-Term Utility

We explored the different EQ utilities, explaining why the token is a strategic, long-term coin. EQ is the primary exchange currency in Equilibrium, responsible for fees attracted in transactions within Equilibrium. There are plans to list EQ in the Equilibrium DEX and have EQ traded against EQD.

Equilibrium employs various strategies as safeguards around the EQ token to mitigate any immature abandonment. The move ensures our community is safe from uncommitted members.

Find out more about EQ and its long-term possibilities here.

Insurance Pool: LP Tokens Use Case in Equilibrium

Aside from providing utility and unlocking liquidity for staked tokens, wrapped tokens rarely deliver any meaningful value to their owners. We navigated through upgrading wrapped coins from dead-weight to profitable assets through our insurance pool. The Equilibrium bailsman function creates opportunities for wrapped tokens of all flavors.

Click here to find out how you will extract more utility from your wrapped asset.

The Equilibrium Live Contest

We also announced the Equilibrium Live Contest to follow up on the Closed Beta experience. The Live Contest allows participants to explore Equilibrium products, trade, and earn from their inventive trading concepts. Unlike the Closed Beta, the EQ contest will feature user assets. Participants won’t receive virtual assets for trading. Participation is individual or via teams, with EQ prices of up to $20,000.

Learn more about the Equilibrium Live Contest here.

The FTX Catastrophe

FTX’s collapse sent shudders across crypto by damaging its reputation with unsavory headlines. We dissected the problems, giving the telltale signs of FTX’s impending fall. Our analysis highlighted the dangers of centralized exchanges, which were glaring while FTX filed for bankruptcy. We also gave a template for the future of exchanges, decentralized exchanges.

Find out more in our thought-provoking piece on FTX.

Equilibrium Liquid DOT Staking

Our liquid DOT staking product allows DOT holders to unlock DOT liquidity and earn yields of ~14% APR. We built a system (using the fractional reserve approach) that adapts to the needs of the Equilibrium ecosystem. By preserving a portion of liquidity unstaked, we will support instant withdrawals and impose a 1% withdrawal fee when users unstake their liquidity.

Click here to learn about optimum yields when staking DOT.

Equilibrium Updates (including Live Launch)

We released updates on our planned full release and events to follow. The just concluded EQ Phase two offering initiated our list, followed by the Equilibrium live launch, which is in Mid-December, and our trading contest that follows soon after the launch. The Live launch will initially support nine assets as Equilibrium plans to increase the number after going live. Our trading launch will follow the Equilibrium platform full release.

Read more about our events in December and beyond here.

Alex in Lisbon

Part of our team was at the WebSummit in Lisbon (The Equilibrium home), where they interacted and shared with various industry players on DeFi solutions, handling crypto, and much more.

Did you miss our community call?

On November 23rd, Equilibrium had its 24th community call, during which we welcomed many speakers who gave their opinions on the current condition of the DeFi industry and how it affects the Polkadot ecosystem.

The main talking topics were updates on our development and live launch.

November’s community call also saw an exciting guest appearance of Eric Qiu from CMS holdings. We discussed our imminent full launch, multichain integration, development updates, and more.

Click here for a recap in case you missed it. Watch it here.

Thank You, Equilibrium Community

We’re encouraged to continue creating and improving by your continued support through our contests, product launches, and other platform activities. We look forward to your engagement in the upcoming events, including the EQ Live Contest. We’ll give back to our community via the EQ rewards and engage through the contest period.

Thank you for another month of progress.

About Equilibrium

Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an orderbook-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.

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