Equilibrium is already compatible with EOS and BTC cryptocurrency for securing a collateralized position in USD-pegged stablecoins. Now we’re opening the door to Ethereum, the most popular cryptocurrency in DeFi, to serve a major population of crypto users.
The secret ingredient in our interoperable solution is pTokens, a tool that enables cross-chain composability. In other words, pTokens is a technology that lets siloed, independent blockchains interact with Ethereum and sign transactions to that blockchain.
How does it work?
pTokens is driven by a set of smart contracts and hardware solutions that enables secure cross-chain transaction-signing capabilities between two traditionally separated blockchain platforms. It uses Trusted Computing sandboxing techniques (TEEs) to guarantee a secure and fully auditable execution of all the processes that make it possible.
The design of pTokens calls for one sandbox (TEE) to cooperate with another, jointly validating a deposit of an underlying asset. It uses a technique called multi-party computation to trigger the issuance of the corresponding pTokens on a destination blockchain.
Our framework is ready for you to collateralize your ETH in exchange for EOSDT as you see fit. We’ll leave you to it!