We just held the third instance of our community call, which serves as a monthly check-in and update for our growing body of DeFi supporters. Just like the previous two times, we had Equilibrium CEO Alex Melikhov, Director of Customer Success Lesley Czuma, and Senior Project Manager Peter Sergeev on hand to steer the conversation and deliver our updates.
On the other side of the screen were 160+ attendees who asked more than 70 questions between the online form and our open question time. Our third community call was the best-attended we’ve had to date and we look forward to seeing what kind of turnout we can get next month.
If you missed the February community call, you can watch the video replay right here or read on for a text recap of what we covered. Until then, we’ll see you at the end of March for round four.
Financial pallet integration
Pallets replace smart contracts on Polkadot, and our financial pallet is now fully integrated into our blockchain following a grant from the Web 3 Foundation.
This financial pallet is a module that calculates statistical and economic data based on the oracle feeds and price info it receives. It helps us calculate certain important statistics on a per-user basis, like portfolio volatility. It also calculates overall system measures like collateral volatility. We’ve migrated from an earlier iteration that mostly tracked volatility — the pallet now is a mature, fully featured bit of DeFi development.
Updates on the liquidity farming roadmap
We have updated our roadmap for our liquidity farming functionality, which will now be split into two development phases. At first, there will be a flat rate of 20% paid just to the bailout pool, then we will announce a more sophisticated model that’s on the way after that. Our goals here pertain to limiting the sell pressure on vested EQ tokens, and bootstrapping the initial bailsmen liquidity so that the system may start from a place of safety.
Our mobile interface
Here’s an exciting update that’s going to make our users’ lives easier and more convenient: our mobile interface is set up so you won’t have to juggle multiple accounts like you do on other protocols.
In our quest to end market fragmentation, we are building Equilibrium into a one-stop DeFi shop that can handle any customary use case. We felt it was important to unite all this functionality into one clear interface that will work in conjunction with our DEX, as well as help you monitor the rest of your assets and use them in conjunction with Equilibrium’s products.
Getting ready for the Rococo parachain integration
We have been invited to the sixth batch for integration on Rococo, Polkadot’s testnet for parachains. All the development and testing for new parachains takes place here before anything goes into production on Kusama or Polkadot.
Testnet integration will demonstrate equilibrium’s compatibility with Kusama and Polkadot. We expect integration to be complete in a couple of weeks or so.
Preparing our DEX
We are working on a decentralized exchange that will enable leverage, spot trading, and derivatives trading. It will let multiple assets be lent out or be settled into liquidity pools across chains. We are actively working on this today, and our next steps are about implementing lending functionality, margin call maintenance, and establishing an on-chain order book.
We expect to launch it in mid-2021, so stay tuned!
Equilibrium is bringing Curve’s AMM to Polkadot
We are developing the runtime version of Curve’s automated market maker (AMM) technology on a grant from the Web 3 Foundation.
Curve is an Ethereum-based AMM that offers income for liquidity with low slippage. It’s the fourth largest DeFi project in terms of total value locked — Curve maintains some $4 billion of digital assets. The platform’s stableswap functionality is more efficient than what’s found on conventional DEXs. It reduces the risk to liquidity providers, can be plugged into from any substrate parachain, and is usable for every homogenous asset in the ecosystem (like stablecoins).
We’re going to roll this technology out on our parachain, and we expect it will be huge news for the ecosystem.
Our ETH bridge is gaining traction
We’re bringing interoperability to life. EQ tokens are available right now for cross-chain transfers. We’ve also added support for Curve’s virtual CRV tokens, and we’re only going to be introducing more tokens integrated and further compatibility down the road.
What’s next for our PLO
The whitelists for our token swap and crowdloan are now closed!
We are working with a dedicated custodian to enable the first phase, a token swap in which participants pledge their DOT for EQ tokens. We’re currently onboarding the custodian and will make an official announcement soon.
Two big events coming up
Our Polka DeFiance conference happens on March 18th at 4 PM CET. This virtual event will deliver the lowdown on what’s actually happening in Polkadot DeFi. We’ll have a number of relevant panels and speakers on hand to inform and inspire — don’t miss our slate of topics running from an intro to parachains to how to invest in the Polkadot ecosystem.
We will also be holding a local offline tech meetup at a date to be determined soon. We will be hosting local insiders from Parity to explain Polkadot’s technology to local developers. It’ll be open to anyone interested in attending. We’ll share further details as these plans firm up.
That’s what we covered for our third community call. The next one is on March 25, so we’ll see you there!
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