Equilibrium’s newest partner is RockX, who is also one of its earlier investors. RockX has previously delivered grants to Oasis and Algorand. It is a crypto platform that lets users diversify their digital asset holdings and gain exposure to others in one unified interface, and runs a $20 million investment fund specifically for Polkadot-based projects. It will be adding its support for our EQ token to its staking platform.
Digital assets are the world’s fastest-growing asset class, and RockX’s staking platform supports this growth. From the advent of Bitcoin in 2009, the overall cryptocurrency space has grown from just one to more than 4,000 different currencies. Bitcoin’s market cap is a useful analog for the public’s overall interest in cryptocurrency technology, and it’s only increasing, reaching all-time highs around $758 billion in January 2021. When you add the total value of all the other coins to that, it constitutes an industry with a trillion-dollar market cap overall. The demand for these assets is reaching critical levels.
RockX is not only working to make digital assets more accessible and intuitive, but to expand their scope at the same time. Every currency, asset, supply chain, and even reward point has the potential to be tokenized on the blockchain. This means the term “digital asset” will grow to include a number of things, even blockchain-enabled representations of conventional assets like gold and oil. Digital assets are everywhere we look today, and tokenization appears to be the path towards the future.
This partnership will increase the utility of our native token while enhancing our overall system liquidity at the same time. RockX has more than $65 million of assets being staked right now. RockX and Equilibrium will cooperate in perpetuating the whole Polkadot ecosystem by adding more resources in the long term.
As this partnership comes to fruition, RockX users can easily gain new exposure to our EQ token if they choose.