Dear Equilibrians, lately, we've been getting lots of questions from our community about $EQ listing and related community voting, so we'd like to address the issue.
Firstly, the listing of $EQ on some of the most popular exchanges is underway. However, we can't disclose their names due to the nature of our NDAs with them.
But before pushing forward with listing in the current market environment, we sought the opinions of our partners, investors, users, and you can bet we got a diverse range of opinions. Some suggested we wait as the market situation could get worse while some others advised us to list as soon as possible as the market's already at rock bottom.
Making this all-important decision has put us in a bit of a dilemma as it affects every member of our community. One thing is certain: our community is at the heart of everything we do. So we've decided to put it to a vote so you can have your say. In January, we're launching Equilibrium’s decentralized governance, and the first motion will be about the EQ listing decision. We believe a communal opinion will steer us in the right direction.
While some of you have expressed your concerns over the process's transparency, you have nothing to worry about as the governance is the clearest and most transparent way to express the will of the community - every transaction, every vote is recorded on the blockchain for all to see. And we're building our upcoming governance platform very similar to what Polkadot has on its Relay chain. Here's how it works on their end: https://polkadot.network/blog/polkadot-governance/
The only voting eligibility criteria is your ownership of $EQ tokens. There's no segregation based on how you got your $EQ tokens. All $EQ holders are eligible to vote regardless of whether you're an investor, winner, or ambassador who earned her $EQ tokens by working and creating content — everyone has equal voting powers. The process will take around 2 weeks (which is the standard time for governance motions), and the Equilibrium team won't interfere in any way.
By allowing the community to have a say in this important decision, we're upholding our commitment to transparency, accountability, inclusivity and showing our willingness to listen to and consider the opinions of our stakeholders. This will help build trust and confidence in the project and team's leadership.
We understand that involving the community in the voting process may not change the current community sentiment. But if looked at critically, it's a positive step forward.
There's a broader list of questions we'd like our community to consider when they are making their decision on this topic:
- What are the benefits of listing right now?
- If not now, what is the best time to list?
- Where will demand come from?
There are a lot more questions which require separate discussion topics on our Governance forum. Once the Governance is set up, we'll kick start discussions and address the above issues.
For us, it's important that all voices and perspectives are heard and considered. So we'll appreciate your engagement, ideas, and insights as a valuable $EQ token holder, as we come up with a strategic plan for implementation.
Thanks as you join us. We're all in this for the long-term success of the project.
Merry Christmas!
About Equilibrium
Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an order book-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
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