Decentralized finance protocol, Equilibrium, has announced the commencement of the first phase of the public offering of its token. The one-stop-shop cross-chain DeFi protocol is partnering with Web3.0 investment, Republic Crypto, to accelerate the public offering of its native EQ token.
The first phase of the offering is open to the public and commenced on June 28 and will close on July 9 at 6:59 a.m. UTC. A limited hard cap of 500,000 USD was set for Phase 1, and all participants are eligible for a special airdrop. Upon completion of Phase 1, the overflow of Phase 1 participants who registered for the Reg D whitelist before June 1 will make up the early access phase for Phase 2. Afterwards, the public access stage of Phase 2 will commence.
Commenting on the token ICO launch, Equilibrium CEO Alex Melikhov stated:
“Our token distribution event with Republic Crypto is a major milestone for Equilibrium, and it comes on the heels of our successful money market launch.”
Equilibrium in the Polkadot ecosystem
Melikhov noted that the public offering of the EQ token is a major step toward building its repertoire in the Polkadot ecosystem. “This is a major step towards solidifying ourselves as the premier DeFi platform in the Polkadot ecosystem and pushing the blockchain space toward an NPoS model, ” he said.
The protocol offers a full array of DeFi services, including a decentralized exchange (DEX), money market, insurance, an automated market maker (AMM) for DOT vs DOT wrappers, and insurance.
Equilibrium’s interoperable money market merges a comprehensive lending platform with a professional-grade cross-chain DEX. The combination allows for high-leverage borrowing and trading. Also, the platform combines a money market with an order book DEX to facilitate an all-encompassing DeFi platform.
DFG is an early investor and strategic partner of Equilibrium. “This is amazing news for the Polkadot ecosystem we have been focusing on since 2020.” James Wo, the founder and CEO of DFG comments. “We are very delighted to witness this breakthrough of Equilibrium. Their native token EQ has a tremendous potential to offer more features and better values to investors. The success of the initial offering on Republic also indicates a brand new chapter for Equilibrium. ”
Equilibrium the one-stop-shop for interoperable DeFi
Equilibrium is a software service with a consensus-based governance system and is an integral part of the Polkadot ecosystem. It is the first to combine a money market with an order book decentralized exchange (DEX). Equilibrium is a parachain on Polkadot facilitating borrowing and trading with high leverage. Equilibrium’s innovative financial mechanism on the backend enables the lowest collateral and margin requirements for its users, allowing borrowers to set interest rates on their loans.