AMA Recap: CRYPTO MINERS X EQUILIBRIUM

Equilibrium is a DeFi 2.0 platform with high leverage and one-stop platform to earn, borrow, trade at max efficiency. It is one of the most complex and useful dAPPs built on the EOS blockchain to date. The potential for serving the greater crypto community is still largely untapped: they need a broad pool of financial products like decentralized leverage, a stable unit of account, money market protocols, and synthetic assets. Equilibrium will become the first DeFi one-stop shop by offering exceptional services to the users of major crypto assets like BTC, ETH, MATIC, SOL, and beyond. All this will become possible thanks to Polkadotʼs technology and its substrate framework for creating decentralized systems. Building such a system on the substrate will in turn help Polkadot differentiate its technology from other blockchain 3.0 projects like Kava, Cardano, Algorand, and others.

We hosted an AMA session with Equilibrium on 3rd June.

Mr. Ramsy was the host from Crypto Miners and Mr. Alex, CEO of Equilibrium was the guest. He shared delightful knowledge and unique features of Equilibrium.
.
Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 and welcome to the Crypto Miners AMA session With Equilibrium

To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr. Alex

Alex | Equilibrium:
👋

Hello everyone

Nice to be here with you today

Ramsy | Crypto Miners:
Hello there 👋

Welcome here
Thanks for bringing Us Equilibrium❤️

Alex | Equilibrium:
😎

Ramsy | Crypto Miners:
How are you doing today mate?

Alex | Equilibrium:
Feeling great as usual. How’s yours?

Ramsy | Crypto Miners:
Doing well 🥂

Alex | Equilibrium:
Cool

Ramsy | Crypto Miners:
I’m pretty sure that our Community is very much excited to learn more about Equilibrium ✌️

So let’s get started if you’re ready!!

Alex | Equilibrium:
Let’s roll🦾

Ramsy | Crypto Miners:
First of all Please give us a brief explanation about ‘Equilibrium’ .What popped up in your mind to create such a platform in this Space?

Alex | Equilibrium:
Ok, let me introduce myself first

I’m Alex Melikhov, the Founder and CEO of Equilibrium and Genshiro. I’m an engineer in applied mathematics. Before blockchain I was focusing on fintech, mostly payment systems and gateways. I became completely involved in crypto after co-founding Changelly in 2016.

Ramsy | Crypto Miners:
Nice to meet you

Alex | Equilibrium:
My current team has been working together since 2017 and currently we are working on Polkadot-based Equilibrium and its canary network on Kusama called Genshiro.

In layman’s terms Equilibriums is DeFi 2.0 with high leverage. It’s a one-stop platform to earn, borrow and trade at max efficiency.

From the user perspective, Equilibrium is the first interoperable money market that combines all significant DeFi use cases in one easy-to-use interface.

These use cases include pooled lending (like Compound), synthetic asset and decentralized stablecoin generation (like Synthetix and MakerDAO respectively), and trading (like dy/dx).

Equilibrium allows users to stake and earn, lend, borrow, raise liquidity in synthetic assets and decentralized stablecoins — all in one place.

Ramsy | Crypto Miners:
Thanks Alex for this warm start 👌

Now let’s see our second question from this segment

Q2) So what are your main features and advantages that discern you from other Projects?

Alex | Equilibrium:
I will drop 5 advantages which are distinguish Equilibrium as truly DeFi 2.0:

1. Cross-chain all-in-one DeFi platform — basically as I said above, all DeFi instruments in one place. If you want to utilize DeFi with max efficiency, that’s obligatory nowadays.

2. Own parachains on Polkadot & Kusama are already live — Equilibrium and Genshiro (our canary network on Kusama) are already part of the Dotsama ecosystem.

3. The first orderbook-based DEX on Polkadot with leverage up to 20X — can’t say more here. We are the first project in Dotsama who developed a fully on-chain orderbook!

4. A money market with critical collateralization is as low as 105% — this will allow traders to perform risky, yet profitable trades.

5. Features: pooled lending, trading on margin, native decentralized stablecoin, synths, perpetuals.

With all said above — this is how we are going to build DeFi 2.0 in the Dotsama ecosystem

Ramsy | Crypto Miners:
Impressive Features 👌

3)Could you tell us more about your Republic campaign? What goals are you aim to achieve there and what are the key benefits for early contributors?

Alex | Equilibrium:
Sure and I think I can share some insights with you folks here

As you folks already know, we are running our Republic campaign. There’re several goals we are trying to achieve right now, but — if I can say like that — one of the most important, is simplicity and adoption.

Our Republic campaign will help us to attract a lot of liquidity into the ecosystem in general and to the Equilibrium in particular.

Waitlist is already open and you can join the campaign right now. Let me share the link with you: https://equilibrium.io/en/republic-offering

Remember, this is your only chance of getting EQ tokes allocation.

Speaking of Republic, let me share some news with you folks

We are currently running an EQ airdrop campaign!

Let me share an announcement with you here

🤯 Introducing the Equilibrium Community Airdrop Program on CoinMarketCap from June 2 to June 22!

🎁 Participate and stand a chance to be one of the 1000 winners to earn from $50,000 worth of EQ tokens prize pool.

👉 Participate here: https://coinmarketcap.com/gravity/articles/29156

Ramsy | Crypto Miners:
Cool 👌

Alex | Equilibrium:
Awesome, thanks

Ramsy | Crypto Miners:
4) Now Share us about your Native token, What are the some of utilities of $EQ Token in Your Ecosystem? And if possible share to us the Tokenomics

Alex | Equilibrium:
Sure, let me cover our EQ token as well

EQ enables the community governance of Equilibrium. It can be used for transaction fees, product fees, and platform liquidity on Equilibrium

It has several unique features, which are distinguish it among other tokens.

1. Governance token: EQ enables the community governance of Equilibrium. It can be used for transaction fees, product fees, and platform liquidity on Equilibrium

2. Platform currency. Users pay transaction fees for operations on Equilibrium’s Substrate and product fees in EQ

3. Bailout liquidity. Liquidity providers can earn yield by locking EQ in Equilibrium’s liquidity pools

4. Staking opportunities. EQ holders receive rewards on their tokens staked to Equilibrium’s governance

And much more! Feel free ti check out web site: https://equilibrium.io/en/eq-token

Ramsy | Crypto Miners:
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Equilibrium If possible could you please share road map with us.

Alex | Equilibrium:
Ok, let me share with you our roadmap first

As you can see it is huge😎

Take your time to check it

Ramsy | Crypto Miners:
Indeed 💯

Alex | Equilibrium:
As you guys already know, Equilibrium has won a parachain slot and will be onboarded on Polkadot as the 12th parachain. This was one of our greatest milestones and we did it thanks for our wonderful community.

The next milestone, as I mentioned previously, is our DEX. We proudly announce the launch of our orderbook DEX! This is the premiere orderbook-based decentralized exchange (DEX) launched on the Dotsama ecosystem.

And the third one, is our fluid xDOT staking. Using it, you can vote for your favorite projects in Dotsama ecosystem. But you are not locking your DOT tokens for 2 years. With xDOT you are making it work for you. I will share a insights on how it works in details a bit later. However, let me share a link here: https://equilibrium.io/en/xdot

Our future goal, is to launch Equilibrium app in production as soon as possible. As you can see here, we are aiming on June🦾

Ramsy | Crypto Miners:
Thanks alex for this well detailed introduction about Equilibrium:)

And that’s the wrap up of our the first part of the AMA session ✅

Let’s now proceed to our Twitter Questions section

i hope you’re ready for that!!

Alex | Equilibrium:
Yes, let’s do that!

Segment 2️⃣: Twitter Questions

Ramsy | Crypto Miners:
1)Does token holders have the right to participate in the management of other projects? Will they be able to vote on a new decision about the project?

Alex | Equilibrium:
Sure, that’s a good question. As you could already saw on our Roadmap, we are aim to launch full governance in the Q1 2023

Those, who will have EQ tokens will have the right to propose various thing, such as adding new assets, proposing design features and so one.

Ramsy | Crypto Miners:
2) I noticed on your Twitter that you are hiring, so please can you specify what kinds of skill sets are you looking to hire and also does goegraphical location affect your decision to hire or not hire someone?

Alex | Equilibrium:
Of course. We are currently looking for an experienced professionals. We welcome human beings who are passionate about technology and next-gen economy as much as we are.

Most of our developments nobody has done before as well as we are taking care of each other and give out support

So, if you think that you can be pf help — feel free to drop us a line: https://equilibrium.io/en/careers

Ramsy | Crypto Miners:
3) I noticed that #Equilibirum provides “Insurance via bailouts” to its users; could you tell us more about this? What exactly does this insurance scheme cover and how does it work? What types of scenarios can it be applied to? What are the advantages for users?

Alex | Equilibrium:
Yes, this is one of our killer features

Let me explain how it works

Equilibrium’s bailout mechanism is an effective new approach for managing debt and risk within a DeFi protocol.

Our system design introduces the role of a “bailsman.” Bailsmen are users who pledge liquidity in advance of a market decline or black swan event, and they play a pivotal role in keeping Equilibrium and Genshiro running smoothly.

There’s no need to quickly gather liquidity when the bad debt mounts up because our bailsmen have supplied this liquidity in the form of other crypto assets. It’s immediately available when we need it.

You can also learn more here: https://docs.genshiro.io/genshiro/mechanics/bailsman-mechanics

Ramsy | Crypto Miners:
4) Can you tell us more about this process and the public offering in general? I noticed on your website that people can join Equilibrium’s public offering waitlist right now; can you tell us more about this process and the public offering in general?

Alex | Equilibrium:
Of course

In general, everyone can join our campaign

There’s no limitations. Just make sure that you follow the Republic requirements

Let me share with you whailist one more time

https://republic.com/equilibrium-early-access-regulation-s

Don’t forget that this is the only way of getting EQ right now!

Ramsy | Crypto Miners:
Here is our last question from twitter

5) Equilibrium is currently having its COMMUNITY AIRDROP PROGRAM. It says there that we will be able to get a chance to be one of the 1000 lucky winners. Can you tell us how can we increase our chances on winning the airdrop? And is this open for everyone to join?

Alex | Equilibrium:
Exactly

I’ve shared our airdrop campaign above, but let me share it with you one more time

all you have to do is to complete all necessary steps

That’s it

Once our airdrop campaign will be over, lucky winners will receive their EQ tokens

🤯 Introducing the Equilibrium Community Airdrop Program on CoinMarketCap from June 2 to June 22!

🎁 Participate and stand a chance to be one of the 1000 winners to earn from $50,000 worth of EQ tokens prize pool.

👉 Participate here: https://coinmarketcap.com/gravity/articles/29156

Ramsy | Crypto Miners:
That’s the wind up of our twitter question segment

Now Moving on to our last segment — Live Q&A
Shall We Go mate?

Alex | Equilibrium:
Yeah, let’s do this!

Ramsy | Crypto Miners:
Lets go,

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) Sala…..10.:
I AM INTERESTED to investigation in your project. When and where can i buy your tokens? Is it already listed exchanges?

Alex | Equilibrium:
You can get EQ now ONLY by joining to our Republic campaign: https://equilibrium.io/en/republic-offering

2) VILLAIN:
How can the community participate in Equilibrium DeFi application? How to gain profit by using Equilibrium reasonably?

Alex | Equilibrium:
While we are polishing Equilibrium application, you can join our Genshiro app. You can stake your crypto there with up to 32% APY at the moment: https://genshiro.equilibrium.io/gateway/en/portfolio/earn

3) Jarvis $BTC:
Can you tell us about your last week’s development? What achievements did you got in the last week? Can you also talk about your development team?

Alex | Equilibrium:
🏗 Development Highlights: 16 May — 22 May!

Equilibrium constantly seeks to BUIDL the best regardless of the market dynamics!

👨‍💻 Our passionate developers have spent sleepless nights building the future of DeFi with the best performing products!

Here are all the latest development updates that you don’t want to miss👇

🚀 Launched first-ever DEX in DotSama ecosystem and first trading pair KSM/EQD.

💪 Tested a new Liquidity farming model, preparing to launch production in Genshiro.

🔥 Reworked on the Equilibrium website, new interfaces are now slicker than ever before.

👀 Updated market maker pool functionality. Finally, users can redeem their assets.

✅ Integrated Acala, Parallel via XCM, discussing further liquidity incentive steps with the projects.

4) CHUKKY:
Could you go into more detail on Genshiro? What specific functions may this product perform? Equilibrium and Genshiro are able to provide services with lower risks and cross-chain accessibility as a result of this.

Alex | Equilibrium:
Genshiro is a cross-chain protocol which allows you earn yield, borrow and trade on margin. Using asset portfolios instead of single collateral vaults.

We’re concerned about simple replication of Polkadot-based technology on Kusama. Simple ports like that don’t make sense if you want to push boundaries and unlock the full potential of the DeFi market. Equilibrium definitely wants to build something that stands out on its own Kusama-based merits while bringing value to the Kusama network and its community.

For these purposes, our Kusama-based parachain inherits an experimental spirit that’s quite common for the Kusama network. It’s a testing site for our future products before they’re deployed to Polkadot. This means we get to implement some new features for future iterations of Genshiro, like derivatives, perpetual swaps, and futures contracts on gold, ETFs, commodities, and stocks.

You can join Genshiro now: https://genshiro.equilibrium.io/en

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou so much alex For your valuable answers and information about Equilibrium,
It Was Pleasure Hosting An Ama With You

Time To Conclude Our AMA Section

Is there anything else you would like to share or you want us to know ?

Alex | Equilibrium:
Yes, if possible

Let me share our social media, so you can always be on top of the things with Equilibrium.

Don’t forget to join our Republic offering: https://equilibrium.io/en/republic-offering

And thanks for having me here folks!

It was a pleasure for me to be here today with you all

Ramsy | Crypto Miners:
We Wish all the very best for Project Equilibrium And The Entire team behind the project ❤️🤝

Have a nice day mate 🥂

If you want to learn more about Equilibrium, here are some important links for you:

Website: https://equilibrium.io/
Twitter: https://twitter.com/EquilibriumDeFi
Medium: Equilibrium
Publish0x: https://www.publish0x.com/EquilibreumEOSDT
Telegram: https://t.me/equilibrium_eosdt_official
Channel : https://t.me/equilibrium_news_feed