Having arrange store on Polkadot only a week and a half in the past, an EOS-based decentralized finance undertaking referred to as Equilibrium will
Having arrange store on Polkadot only a week and a half in the past, an EOS-based decentralized finance undertaking referred to as Equilibrium will carry its governance token NUT to the Polkadot ecosystem for sake of facilitating a promotional token swap.
The token swap will run from August 31 to September 29. Throughout this time, individuals who wish to test-drive Equilibrium can alternate their BTC for NUT, then use that NUT to experiment with the newly launched platform. 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 belongings, any past,” Melikhov mentioned. “It even helps cross-chain DEXes that lets customers transact BTC, ETH, and XTZ for a number of DeFi devices.”
DeFi has been booming these days, and Equilibrium has grown considerably in only a few months. “Our decentralized EOS-based stablecoin, EOSDT, has seen its each day buying and selling volumes surge to over $10 million,” Melikhov mentioned, “however I consider that DeFi’s full potential has not been reached but. Cross-chain interoperable merchandise like Equilibrium will increase the market.”
Equilibrium’s NUT token drives the undertaking’s decentralized governance. NUT holders acquire privileges to vote on the parameters that management how Equilibrium operates, just like the rate of interest and overcollateralization threshold related to EOSDT. To achieve NUT is to realize a say in how this explicit DeFi undertaking and its tokenomics function.
Now that NUT will probably be available in alternate for BTC throughout the upcoming token swap. Equilibrium is allotting 25% of its whole provide of 120,000,000 NUT tokens for the swap.