AMA with Equilibrium

AMA with Equilibrium

On the 6th of MAY, 2022 at 12:00 PM UTC, Decentralized Club had the honor of hosting Alex (CEO)from Equilibrium for an Ask-Me-Anything session on their Telegram page with a community of over 1,00,000 people. It was hosted by Ella.

The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.

If you missed this event and would like to know what a Equilibrium is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.

Segment 1 — Introduction

[Ella]

Hello !

Hi Everyone! Hope you guys doing well😌

Today i am hosting an AMA session with the Decentralized Club.

My name is Ella and I will be hosting EQUILIBRIUM in this session

Let’s welcome our guest Alex

[Alex]

Hello everyone!

Glad to be here with you today👋

[Ella]

HI Alex! How are you?☺️

We are pleased to have you as well!😁

[Alex]

I’m doing awesome, how’s yours?

[Ella]

I am going great Thanks for asking🙈

Can you introduce yourself to the Community ?

[Alex ]

Cool😎

Sure

I’m Alex Melikhov, the Founder and CEO of Equilibrium and Genshiro. I’m an engineer in applied mathematics. Before blockchain I was focusing on fintech, mostly payment systems and gateways. I became completely involved in crypto after co-founding Changelly in 2016.

[Ella]

OMG! You are an engineer in applied mathematics! Tough subject though!🙊

[Alex]

It is actually

But this background was worth it😎

Sure, let’s do this

[Ella]

Greeat!😍

Let’s divine into the session

Yeeeeeaaahh!💪🏻

Starting with our first segment

Q1. can you give a brief about Equilibrium and what inspired you to start this project?

Kindly type”✅” after you are done answering! or you can send us Stickers😛

[Alex]

My current team has been working together since 2017, when we began building on Ethereum. In April 2019 we launched the first EOS-based stablecoin. Today it is the most liquid decentralized stablecoin and the biggest DeFi project on EOS. EOS is a great blockchain, but when we discovered Substrate and Dotsama ecosystem, we decided to develop our tech on it. One of the key factors here was famous interoperability of course.

At the moment we are working on Polkadot-based Equilibrium and its canary network on Kusama called Genshiro. Let me share the links on our websites as well:

Equilibrium: https://equilibrium.io

Genshiro: https://genshiro.equilibrium.io

[Ella]

Greatt.. It’s interesting

Q2. What is Equilibrium’s Unique contribution to the crypto space? What distinguishes it from the others?

[Alex]

Thank you☺️

From the user perspective, Equilibrium is the first interoperable money market that combines all significant DeFi use cases in one easy-to-use interface.

These use cases include pooled lending (like Compound), synthetic asset and decentralized stablecoin generation (like Synthetix and MakerDAO respectively), and trading (like dy/dx).

Equilibrium allows users to stake and earn, lend, borrow, raise liquidity in synthetic assets and decentralized stablecoins — all in one place.

Recently we’ve also launched Epsilon — official implementation of CurveFi on Polkadot. You can now swap your stablecoins with minimum slippage directly on Polkadot. Check this out: https://epsilon.io/en

Let me also briefly cover Genshiro. In general, Genshiro is Equilibrium’s Kusama-based canary network. It is a bolder version of the products that we will later offer on Polkadot. It represents a cross-chain DeFi conglomerate complete with a lending platform and cross-chain DEX (in development at the moment), both traditional and AMM. Genshiro inherits an experimental spirit that’s quite common for the Kusama network.

There will be more experimental elements, like support for a wider range of synthetic assets that can represent derivatives from the world of traditional finance, like gold and ETFs. We will also offer support for a wide range of ERC-20 based tokens.

Genshiro is already live and in production with around $9 million TVL.Check this out here: https://genshiro.equilibrium.io

[Ella]

Ohh .. it would be great to find all our trading access in one place

Dear Community, Please JOIN EQUILIBRIUM’s

NEWS FEED: https://t.me/equilibrium_news_feed/658

WHITELISTING: https://twitter.com/EquilibriumDeFi/status/1521889562737401856?t=Jrb8MBVRs6-rG8Sn_1OQCg&s=19

It’s Great.. 🙌🏻

People check this too🙌🏻

Q3. How can a user obtain an EQ token? What are the advantages?

[Alex]

That’s an interesting question. Recently we won parachain slot. thanks for the massive support from our community. But the campaign is over😎

However, we’ve just launched our REPUBLIC CRYPTO CAMPAIGN where you can receive EQ tokens!

🚀 Equilibrium is gearing up to launch EQ.

🎉 Whitelisting is now OPEN!

To convey our gratitude and appreciation to our early Equilibrium supporters for trusting our vision, we are opening the much awaited Whitelist!

📌 Join the Whitelist here: https://rep.pub/eq-early-access?utm_source=bloom&utm_medium=anounce1

👉 International Whitelist:

https://rep.pub/eq-whitelist-intl

👉 U.S. Whitelist:

https://rep.pub/eq-whitelist-us

Join our Whitelist folks. Currently this is the only option of getting EQ tokens😎

[Ella]

People Join this asap otherwise you will miss the opportunity to get the EQ Tokens😄

Q4. Do you have any partnerships or marketing initiatives in the works to further promote your platform?

[Alex]

Of course we do😎 Let me covet it briefly.

Recently we’ve partnered with AU21 Capital: a leading venture capital firm primarily investing in innovative and revolutionary crypto/blockchain projects.

Our latest partnership was with LD Capital, one of the renowned global blockchain/crypto investment funds that aim to ‘Redefine a Better World with Digital Economy’.

⏩ Read more: https://bit.ly/EQ_LDCapital

Also, let me cover here our revolutionary xDOT mechanics. In general, xDOT is a special token you get when you contribute your DOTs to parachain auctions via Equilibrium.

Right after that you can use xDOTs inside the Genshiro money market: supply liquidity and earn APY over 45%, borrow liquidity against xDOT, trade on Equilibrium DEX using xDOT as margin. Sell xDOT or provide liquidity by putting them into the corresponding Balancer pool. So you can make use of your DOT and not just leave it for 2 years in the crowdloan module.

We set up a lot of partnerships with the most influential projects: Astar, Acala, Parallel, Clover, Efinity, Composable Finance, Centrifuge, HydraDX, Interlay. Thanks to that, our community were able to vote during their parachain campaigns and receive xDOT along with the crowdloan rewards.

Check our fluid xDOT product and vote for your favorite project here: https://xdot.equilibrium.io/en

Don’t hesitate visit our xDOT platform and vote for your favorite project: https://xdot.equilibrium.io/en

[Ella]

Sure, We will visit and vote for our Favourite Project🙊

Q5.Can you tell us about Equilibrium’s forthcoming events and the accomplishments it has made thus far?

[Alex]

Sure. We have 3 mains directions in the development at the moment.

1. We are going to release our built-in DEX on Genshiro. This will be the first order-book DEX on Polkadot.

2. Launch of Equilibrium parachain and crowdloan rewards distribution. This is vital for the ecosystem. Equilibrium will become a parachain in a matter of days.

3. Our Republic campaign. This is important stage of development for us. Fell free to support us and join our whitelist here:

📌 Join the Whitelist here: https://rep.pub/eq-early- access?utm_source=bloom&utm_medium=anounce1

👉 International Whitelist:

https://rep.pub/eq-whitelist-intl

👉 U.S. Whitelist:

https://rep.pub/eq-whitelist-us

[Ella]

cool! Looking forward to it🙌🏻

Came to an end of segment 1

Time to take up question from our Twitter Community

Q1.I see Equilibrium has its own stablecoin called the “EQD Stablecoin”. Can you tell us the advantage of using your stablecoin compared to the ones many people uses today such as USDT, USDC, BUSD and DAI? How unique is EQD Stablecoin?@0JeanWayne

[Alex]

By now you’re familiar with the thinking and functionality that drives Equilibrium. Equilibrium’s USD ($EQD) is our figurative dollar on the blockchain. It enters circulation when users open a collateralized debt position on our platform. By overcollateralizing their varied and volatile digital assets within our interoperable smart contracts, DeFi platforms like ours can derive steady, intuitive value from a pile of varied and volatile crypto.

Decentralized stablecoins work as a kind of “smoothing agent” that makes it possible to manage predictable finances in the crypto world. Our decentralized stablecoin is a fundamental part of our price quotations for our built-in cross-chain DEX. It can even form the basis for an infinite liquidity pool where people borrow at an APR lower than regular stablecoins available on the platform — borrowing them brings costs to the liquidity providers who first brought stablecoins into their pools.

Furthermore, our stablecoin is running on top of the on-chain risk management system and the bailout mechanism, core system components that underpin the entire platform. You can learn more about these components in our previous educational articles, they effectively make our stablecoin stable.. We think DeFi developers seeking an easy way to represent USD values with crypto technology are really going to like it.

[Ella]

Q2.What are the long-term benefits of holding $EQ and has your smart contract been audited?@411ireport

[Alex]

Unfortunately, I can’t give any financial advices here, so let me cover our code audit. Equilibrium was recently partnered with Quantstamp. Quantstamp will audit Equilibrium’s core components, including the code which governs our underlying business-logic on balances, risk and price modules, and also our “bailout” mechanics.

Quantstamp’s audit is of key importance to ensure the quality of Equilibrium’s performance. The main reason is that you are customizing a blockchain runtime when you are building on Substrate. If a bug affects a part of the logic on the Substrate, the blockchain as a whole can come to a standstill.

[Ella]

It’s NIce🔥

Q3.I saw that you announced your collaboration with Republic Crypto. But may we know, what is the result of this collaboration for Equilibrium especially? Will there be another partnership in the near future?@Lavana2016

Dear Community, Please JOIN EQUILIBRIUM

NEWS FEED: https://t.me/equilibrium_news_feed/658

WHITELISTING: https://twitter.com/EquilibriumDeFi/status/1521889562737401856?t=Jrb8MBVRs6-rG8Sn_1OQCg&s=19

[Alex]

This will increase our awareness among all crypto community and help us gather liquidity. Liquidity is the key element in any DeFi project, and this is one of the reasons why we started our campaign.

And of course we are aim to establish more partnerships in future 😎

[Ella]

Greaaattt🔥🔥

Looking forward to it

Q4.Does your project support staking program? if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform? Do you have a Token Burning plan to increase Token value and attract Investors to invest?@Sparkpoetic

[Alex]

Of course we do. It calls “Bailout mechanism”. Equilibrium’s bailout mechanism is an effective new approach for managing debt and risk within a DeFi protocol. Our system design introduces the role of a “bailsman.” Bailsmen are users who pledge liquidity in advance of a market decline or black swan event, and they play a pivotal role in keeping Equilibrium and Genshiro running smoothly.

There’s no need to quickly gather liquidity when the bad debt mounts up because our bailsmen have supplied this liquidity in the form of other crypto assets. It’s immediately available when we need it.

The current APY of being Bailsman on the platform is around 35%😎

Let me share a link with you as well: https://genshiro.equilibrium.io/gateway/en/portfolio/earn

[Alex]

It;s an interesting Project🤩

Moving on to the last question from segment 2

Q5. I read that Equilibrium is looking for skilled and like-minded people with a strong interest in #DeFi to join the team. This is a fantastic new. What are the open positions that are available within the team? What are the requirements for users who want to be part of the team?@TheShadowJK_1

[Alex]

Exactly. We are currently expanding our team and looking for a high skilled professionals and passionate builders. If you thing that you are qualified, feel free to drop us a line here: https://equilibrium.io/en/careers

[Ella]

It’s Great..Community if you want to work for EQUILIBRIUM..Here is your chance.. GRAB IT

🎉

Ending segment 2 with great Information about the project!☺️

[Alex]

Let me share our whitelist one more time

📌 Join the Whitelist here: https://rep.pub/eq-early-access?utm_source=bloom&utm_medium=anounce1

👉 International Whitelist:

https://rep.pub/eq-whitelist-intl

👉 U.S. Whitelist:

https://rep.pub/eq-whitelist-us

Time to take up some questions for segment 3 from our live audience! Guyss be readyyy to shoot your questions😉

Dear guest,

Please pick five original questions to answer.

Try to ignore generic, vague, and copy-paste questions 😊

AMA Rules for the community

🚨DC AMA Rules🚨

1️⃣ Post your best questions first. Community members are allowed a maximum of three(3) questions per session but do not repeat questions from the same account. People who break this rule will be disqualified even if the excess questions are deleted. WE ARE WATCHING 🙄

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Please join our courtroom for disputes and to report copied questions and cheaters with relevant proof.

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🔔 KEEP TO THE RULES AND COLLECT REWARDS. NO REWARDS ESPECIALLY FOR COPY PASTE QUESTIONS.

THIS RULE APPLIES TO ALL AMA SEGMENTS, NOT ONLY LIVE SEGMENT, WHETHER IT WAS POSTED BEFORE THE LIVE SEGMENT DOESN’T COUNT AS AN EXCUSE.

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Dear community, as a measure to deter bots and reward hunters, please include the guest’s full name in your questions so the guest can tell original questions apart!

DO NOT TAG THE GUEST

The group will be unmuted shortly 😊

Let’s get ready @hello_melikhov to answer more questions from our Lovely audience

Seems like we have got a lots of question🤩

@hello_melikhov you can choose and answer any 5 questions you liked! Go ahead please

[Alex]

Ok, let me see

Q1) Do you have a whitepaper available? If so, please forward it to us, and do you have any plans for a pre-sale? Now, where can we get involved? @chukky10z

[Alex]

Sure! Feel free to visit our website and subscribe to our updates. We will send it right on your email.👌

Q2. Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product? @Mustafa87590

[Alex]

Good question. We are aim to enable the full governance on Equilibrium in Q1 2023. Community plays very important role in Dotsama ecosystem, so it’s a vital to have full governance on your platform.

[Ella]

Dear Community,

PLease visit their site to get access to whitepaper and all other things https://equilibrium.io/

Dear Community, Please JOIN EQUILIBRIUM

NEWS FEED: https://t.me/equilibrium_news_feed/658

WHITELISTING: https://twitter.com/EquilibriumDeFi/status/1521889562737401856?t=Jrb8MBVRs6-rG8Sn_1OQCg&s=19

Q3. Is the WHITELIST open to everyone?? Joshua

What are the requirements to participate and stand a chance to get whitelisted?

Joshua

[Alex]

Opened for everyone. Fell free to join our whitelist here: https://rep.pub/eq-early-access?utm_source=bloom&utm_medium=anounce1

👉 International Whitelist:

https://rep.pub/eq-whitelist-intl

👉 U.S. Whitelist:

https://rep.pub/eq-whitelist-us

[Ella]

2 more to go !🎉

Grab the opportunity folks!

Q4. Is your project only for elite investors, what about others with small funds, is it open to everyone? solanaBase Form

[Alex]

We are open for retail sector as well. You can join Genshiro for instance and stake your tokens right now: https://genshiro.equilibrium.io/gateway/en/portfolio/earn

Q5. You point out that Equilibrium is a comprehensive platform to earn, borrow, trade with maximum efficiency, but when you refer to “earning”, could you detail how many different ways we can generate income in this future parachain? Memo

[Alex]

There are several ways at the moment. You can become a bailsman, deposit to our AMM pool or to the MM pool. Don’t hesitate to learn more here: https://docs.genshiro.io/genshiro/

And of course you can join our Republic campaign as well 😎

Think I’ve covered all five

https://rep.pub/eq-early-access?utm_source=bloom&utm_medium=anounce1

👉 International Whitelist:

https://rep.pub/eq-whitelist-intl

👉 U.S. Whitelist:

https://rep.pub/eq-whitelist-us

[Ella]

ohh yeeaahh! Please share the link once again

[Alex]

Thanks for having me here folks. Let me share our social media, so you can always be on top of the things with Equilibrium and Genshiro:

👉 Equilibrium Twitter: https://twitter.com/EquilibriumDeFi

👉 Genshiro Twitter: https://twitter.com/GenshiroDeFi

👉 Our Medium: https://medium.com/equilibrium-eosdt

👉 Publish0x: https://www.publish0x.com/@EquilibriumEOSDT

👉 Telegram community: https://t.me/equilibrium_eosdt_official

👉 Telegram News Feed: https://t.me/equilibrium_news_feed

👉 Genshiro community: https://t.me/genshiro_official

👉 Genshiro News Feed: https://t.me/genshiro_news_feed

[Ella]

Noww, It’s a wrap🎉

Thank you dear guest for your time 😊

Your answers were brilliant!

Thankyou for choosing us❤️

Cheers to you and your team for their time and effort in making this project a success!🥂

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