Having arrange store on Polkadot just a week and a half ago, an EOS-based decentralized finance challenge referred to as Equilibrium is launching a brand new governance token referred to as EQ.
EQ is probably the subsequent technology of Equilibrium’s NUT, the platform’s first governance token particularly to be used on EOS. As interoperability is a rising situation for blockchain adoption, the brand new EQ token will work throughout different blockchains, together with EOS. NUT will stay a legitimate solution to take part in Equilbrium’s decentralized governance, however for EOS solely.
Those that wish to experiment with the EQ token can trade their NUT for it August 31 to September 29. They’ll then use their newly acquired EQ to experiment with the system. We spoke to Equilibrium CEO Alex Melikhov to study extra.
“Polkadot lets us supply all-new merchandise for our business, like cross-chain pooled lending, decentralized stablecoins, artificial property, any past,” Melikhov stated. “It even helps cross-chain DEXes that lets customers transact BTC, ETH, and XTZ for a number of DeFi devices.”
DeFi has been booming recently, and Equilibrium has grown considerably in just some months. “Our decentralized EOS-based stablecoin, EOSDT, has seen its each day trading volumes surge to over $10 million,” Melikhov stated, “however I imagine that DeFi’s full potential has not been reached but. Cross-chain interoperable merchandise like Equilibrium will enhance the market.”
In case you’re occupied with attempting out EQ, you solely have to trade some NUT for it. Equilibrium is allotting 25% of its whole provide of 120,000,000 EQ tokens for the upcoming swap.