An EOS-based decentralized finance project, Equilibrium, has announced its plans to develop a new interoperable protocol on the Polkadot (DOT) blockchain. The project is set to develop an independent parachain connected with Polkadot, featuring an independent utility token called EQ. It acts both as a token for paying transaction fees and for governing the protocol. Equilibrium began as a MakerDAO analog on EOS, but its CEO, Alex Melikhov, told Cointelegraph that the Polkadot transition will also include an expanded suite of products. In addition to a lending protocol that powers a new interoperable stablecoin, it will also allow generalized lending …

Equilibrium, an EOS-based decentralized finance, or DeFi, project similar to MakerDAO (MKR), is adding four block producers to its governance system, most notably Binance. Other members include Eosfinex, an EOS decentralized exchange affiliated with Bitfinex, as well as stand alone block producers EOS Nation and EOS Cannon. The group of four will act as “governance supervisors” for the system. Their primary purpose is to sign off on smart contract upgrades for Equilibrium. As Alex Melikhov, the CEO of Equilibrium, told Cointelegraph, this leverages a distinctive EOS feature: “One of the main advantages of EOS lies in updatable smart contract code. …

As the decentralized finance, or DeFi, industry continues to grow, the need for liquidity in cryptocurrencies is steadily increasing. DeFi startup Equilibrium has today expanded the supply of its decentralized EOS stablecoin, EOSDT, as a result of integrating Bitcoin (BTC)-powered liquidity. Equilibrium, a major multi-chain DeFi framework, has raised the EOSDT circulation cap from $70 million to $170 million, the firm announced on May 1. EOSDT integration with pBTC drives the liquidity flow This push became possible through EOSDT’s integration with cross-chain DeFi liquidity network pTokens, which enabled Bitcoin collateralization through pTokens’s BTC-pegged token, pBTC. Bitcoin is the biggest cryptocurrency …

On March 11 at 4:56 p.m. UTC, Tedros Adhanom Ghebreyesus, the director of the World Health Organization, stated that COVID-19 can be characterized as a pandemic. Industry experts consider the global uncertainty around this respiratory disease — from travel bans imposed by governments across the globe to the continuing global market turmoil — to be a trigger of the cryptocurrency market’s painful crash. Most cryptocurrencies saw their biggest 24-hour price drops in a single 24-hour period. The strong downward trend started off around 6:00 a.m. UTC on March 12 and continued until the morning of March 13. Ether (ETH) took …