Equilibrium, a Polkadot-based decentralized finance project and parachain candidate, has raised $2.5 million from a number of venture funds primarily involved in the Polkadot ecosystem. Heavy Polkadot backers like KR1, Signum Capital and Hypersphere Ventures joined Equilibrium’s round. Other participants from the general crypto investment ecosystem include OKEx’s Block Dream Fund, Genesis Block Ventures, CMS Holdings, AU21 Capital, DFG Capital, PNYX Ventures, FBG Capital, LD Capital and others. The funding round comes as Equilibrium gears up for the upcoming parachain lease auction on Polkadot. The project said that the investment will help secure a parachain slot, which it estimates will …

Equilibrium, a Polkadot-based DeFi project previously known for its EOS presence, is partnering with Curve Finance to bring the latter’s automated market maker platform, Curve, to the Polkadot (DOT) ecosystem, according to an announcement issued on Monday. The plan involves integrating a Substrate-based version of Curve on Equilibrium’s Polkadot parachain and is supported by the Web3 Foundation’s Open Grant Program. As previously reported by Cointelegraph, Substrate — Polkadot’s blockchain building framework — is already showing significant protocol-level interoperability especially in the version 2 launched back in August 2020. Upon full integration, the Curve plugin will allow for a stablecoin exchange …

A project that bills itself as the first decentralized, interoperable money market has announced it will be participating in Polkadot’s Sub0 conference on Oct. 15. Equilibrium says it aims to open up the vast potential of the DeFi industry by offering services to the users of key crypto assets — people who were isolated until now. The project’s blockchain has been built using Polkadot’s blockchain-building framework, developed by Parity Technologies, and Equilibrium is planning to expand its DeFi product line to deliver a “one-stop, cross-chain money market.” During Polkadot’s event, Equilibrium senior analyst Peter Sergeev will give a speech entitled …

Decentralized finance startup Equilibrium has received a grant of $27,000 from the Web3 Foundation to develop its DeFi pallet and provide tools which enable other projects to migrate to the Polkadot platform. The updated pallet would enable the Equilibrium parachain to introduce a developer environment for DeFi applications. This will include an Ethereum Virtual Machine, aiming to attract Ethereum dApp developers, who can reuse their existing code. The Web3 Foundation offers grants of up to $100,000 to organizations who are developing new technologies. Equilibrium’s DeFi pallet is universal, can be reused and implemented on other parachains. As Björn Wagner, the …

Having recently set up shop on Polkadot, an EOS-based decentralized finance project called Equilibrium is launching a new governance token called EQ. EQ works like the next generation of Equilibrium’s NUT, the platform’s first governance token specifically for use on EOS. As interoperability is a rising issue for blockchain adoption, the new EQ token will work across other blockchains, including EOS. NUT will remain a valid way to participate in Equilbrium’s decentralized governance, but for EOS only. Those who want to use the EQ token can exchange their NUT for it August 31 to September 29. They can then use …

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 …