Equilibrium Integrates With Bifrost

Published on: 25.02.2023
Equilibrium Integrates With Bifrost

Equilibrium Integrates With Bifrost, to Support Bi-directional Token Transactions

The Equilibrium Integrates With Bifrost. Equilibrium thrilled to partner with Bifrost, a web3 derivatives protocol providing secure and efficient cross-chain liquidity for staked assets through its XCM integration. This integration expands the potential use cases for staked assets across blockchains and enables our community to leverage liquid staking services for multiple chains.

Through their partnership, bi-directional transactions on Bifrost’s native token (BNC), Equilibrium’s EQ, and stablecoin (EQD) will be supported on Equilibrium and Bifrost, providing users with increased flexibility and functionality. BNC, EQD, and EQ token holders will transfer and utilize their assets across Equilibrium and Bifrost.

Their collaboration opens opportunities for Bifrost users to use staked assets as collateral for borrowing or for minting EQD stablecoin on Equilibrium’s platform. Expanding the potential use cases for their assets. Bifrost’s liquid staking derivatives, upon listed on Equilibrium’s yield AMM, would allow users to swap different liquid DOT tokens.

The introduction of HRMP channels further enhances Bifrost’s liquid staking ecosystem and opens up numerous opportunities for users to borrow assets or generate EQD stablecoin on Equilibrium’s platform.

Building this partnership creates a positive feedback loop, encouraging more users to participate in the Bifrost ecosystem & further expanding the potential use cases for staked assets.

EQD Stablecoin

The EQD, Polkadot-native asset-backed stablecoin with a 1:1 peg to USD. The EQD can be mint against a well-diversified portfolio of assets, thereby greatly reducing a borrower’s collateral risks. EQD use cases extend beyond Equilibrium through its extensive connections with other ecosystems, such as the Bifrost Network.

About Equilibrium

Equilibrium 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 orderbook-based DEX. EQ the native utility token that is use for communal governance of Equilibrium. XDOT is a liquid & tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions & delivers multiple crowd loan bonuses on Polkadot.

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About Bifrost

Bifrost a cross-chain network built on a substrate that gives liquidity to staked assets as staking derivatives. It is based on open-source platforms, primarily as a Polkadot parachain. Because of Bifrost’s cross-chain functionality, others can create integrations to enable staking on other PoS networks.

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