We are making a change that significantly improves user experience with the Equilibrium framework. Starting next week, our users will deal with just one token — EOSDT — and be free of obligation to take exposure to other assets.
It used to be that Equilibrium users paid their associated fees in NUT, the framework’s utility token. Those fees were determined as a function of how much EOSDT was paid back on a stablecoin position at 1% APR. But following the feedback from our community users will switch paying those fees in their favorite USD-pegged stablecoin, EOSDT, on March 16.
This change immediately applies to everyone. Existing users are accountable for paying all fees in NUT up until the moment of the update. After that, all fees will be simply be accounted for and paid in EOSDT. In other words, existing users will pay a fee in two parts — in NUT and EOSDT — when they close their positions. New users will pay solely in EOSDT.
But it doesn’t mean that NUT token reduces its utility. A heads-up to our guardians: after this update, you’ll be able to submit NUT to the liquidator smart contract in exchange for EOSDT at a 6% premium. The system will continuously transfer EOSDT to the liquidator contract when it accrues fees on user positions.