Established in Polkadot only a week and a half ago, a decentralized financial project based on EOS, called Equilibrium launches its new governance token called EQ.
EQ may be the next generation of Equilibrium’s NUT token. The platform’s first governance token, used specifically for EOS. Since interoperability is a constant problem for the mass adoption of blockchain technology, EQ’s new token also works with other blockchains, including EOS. NUT will remain a valid way to participate in the decentralized governance of Equilbrium, but only for EOS.
If you want to experiment with the EQ token, you can exchange your NUT for it from August 31 to September 29. You can then use your newly acquired EQ to experiment with the system. We spoke to Alex Melikhov, CEO of Equilibrium, for more details.
“With Polkadot, we can bring completely new products to our industry, such as cross-chain combined loans, decentralized stablecoins, synthetic assets and much more,” said Melikhov. “It even supports multiple cross-chain DEXs that allow users to handle BTC, ETH and XTZ across different DeFi instruments.”
DeFi continues its boom and Equilibrium has grown significantly in just a few months. “With our EOS-based decentralized stablecoin EOSDT, the daily trading volume has increased to over 10 million US dollars.” said Melikhov, “But I think the full potential of DeFi has yet to be realized. Interoperable cross-chain products like Equilibrium will drive the market.”
If you want to test the EQ token, all you have to do is exchange a NUT for it. Equilibrium provides 25% of its total supply of 120,000,000 EQ tokens for the next exchange.