Multi-Cloud Deployment of Equilibrium Blockchain Nodes

The addition of Equilibrium’s network spec will enable participants in the Equilibrium ecosystem to easily and rapidly deploy and manage nodes via any of our supported cloud providers such as Amazon Web Service (AWS), Google Cloud Platform (GCP) and Alibaba Cloud, helping to scale the network faster than ever! As Onfinality announced their Partnership with Equilibrium.

Benefits of deploying Equilibrium nodes through OnFinality

• Incredibly easy — Deploy Full/ Collator/ Archive Equilibrium nodes on-demand without having to set up infrastructure of your own
• Scalable — Upsize and downsize your nodes easily in a few clicks
• Cost-efficient — Pay for only what you need. You no longer have to buy or set up your own hardware or make tools to monitor your node’s health and performance
• Visibility — Simply connect to our Node Metric Endpoint for automated monitoring and alerts on your node’s health

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About OnFinality

OnFinality is a blockchain infrastructure platform that saves web3 builders time and makes their lives easier. OnFinality delivers scalable API endpoints for the biggest blockchain networks and empowers developers to automatically test, deploy, scale and monitor their own blockchain nodes in minutes.

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About Equilibrium? ($EQ, $EQD)

Equilibrium is an all-in-one substrate-based DeFi protocol on Polkadot that unites a high leverage money market and an order book decentralised exchange (DEX) with margin trading.

Equilibrium offers on-chain price discovery and system-wide insurance by enabling participants to separate and transfer volatility risk and price event risk from borrowers to so-called bailsmen.

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SOURCE: ONFINALITY BLOG

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Announcement of a new and improved bridging solution that they are working on in collaboration with Equilibrium partners with Multichain. This will allow it to remain permissionless while becoming independent from other Multichain pools.

Equilibrium team will have a more direct and streamlined access to maintenance on both Ethereum and Moonbeam sides of the bridge. Overall this should result in a better service compared to the previous solution.

The solution will migrate from the current Router to a new one which will be a purely cross-chain messaging protocol. The key difference here compared to the current Router is that it will not be connected to other Multichain pools. Migration process will be assisted by Multichain. The significant change in design is that wrapper contracts for xc-20 tokens will now be deployed by Equilibrium.

Why do we need a new bridge in the first place?

As you might already know, recently a user was able to withdraw a large amount of USDC tokens from Moonbeam that they should not have been able to. This was due to the differences in expected behavior between erc-20 tokens and mintable xc-20 tokens as explained here. All assets remain secure in Multichain custody and will migrate to the new bridge once it’s ready.

What does this mean for Equilibrium users?

EQ and EQD are both available for bridging. This combined with our recent listing of EQ on exchanges means that users can move liquidity in and out of the Equilibrium platform at their discretion.

ETH and USDC will become available for bridging again when we complete developments of the new solution in collaboration with Multichain.

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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Equilibrium’s main goal is to provide a more accessible and user-friendly DeFi experience to its users. The platform is designed to be user-friendly and intuitive, allowing users to easily interact with DeFi services without the need for technical expertise.

Moreover, one of Equilibrium’s main features is its “EOSDT” stablecoin, which is pegged to the US dollar and can be used for a range of purposes, such as trading, lending, and borrowing. The platform also offers a variety of other cryptocurrencies for trading and staking, including DOT, KSM, and EQ.

In addition to its DeFi services, Equilibrium is also committed to security and transparency. The platform also uses advanced security measures to protect users’ funds and data, and all transactions on the platform are recorded on the Polkadot blockchain for complete transparency.

The main product of Equilibrium is its DeFi platform, which offers a range of financial services to users, including:

1. Staking: Users can stake their cryptocurrency holdings and earn rewards for helping to secure the network.
2. Borrowing and Lending: Users can borrow and lend cryptocurrency assets, including the EOSDT stablecoin, which is pegged to the US dollar.
3. Trading: Users can trade a variety of cryptocurrency assets on Equilibrium’s decentralized exchange (DEX).
4. Governance: Equilibrium also features a decentralized governance system that allows users to participate in decision-making processes related to the platform.

How to stake with Equilibrium

In addition, Equilibrium is a decentralized finance platform built on the Polkadot network that offers various services, including staking.

Here’s how to stake with Equilibrium:

1. First, create an account on Equilibrium’s website. You can choose to create an account with your email, Google, or Twitter account.
2. Once you have an account, log in to your dashboard and navigate to the “Staking” section.
3. Choose the asset you want to stake from the list of available options. Equilibrium currently supports staking for DOT, KSM, and EQ tokens.
4. Select the number of tokens you want to stake and confirm the transaction.
5. Wait for the staking transaction to be processed. Once the transaction is complete, your staked tokens will be locked up in the Equilibrium staking contract.
6. You will now start earning rewards for staking your tokens. The exact reward rate will depend on the asset you staked and the length of time you choose to stake for.
7. To unstake your tokens, simply navigate to the “Staking” section of your dashboard and select the “Unstake” option for the asset you want to unstake. Your tokens will be unlocked and available for use again once the unstaking period has elapsed.

Therefore, staking with Equilibrium is a simple and secure way to earn rewards for holding your favorite crypto assets.

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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.

Twitter | Website |

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Participation in liquidity pools is both a unique and fruitful opportunity for liquidity providers. For the next six months even more so! During this exclusive period users participating in liquidity farming have the opportunity to reap exciting rewards.

Greater earnings — but move fast!

Their recent token offering with Republic Crypto opens up another opportunity for earning optimization through early access to the VIP farming pool, with up to 90% APY. However act fast — this exclusive is only available for the 6 months following the Equilibrium launch on Republic Crypto!

Users who participate in the phase 1 (P1) Republic offering, as well as PLO1 participants will be eligible to get access to doubled farming rewards.

Introducing Equilibrium Liquidity Farming, To receive doubled rewards and maximum APY users don’t have to do anything other than contributing crypto assets to the liquidity pool. No need to take on a loan or act as a bailsman during this 6 month offer — just lock funds and reap the rewards!

Haven’t joined Republic or PLO1? Join liquidity farming program!

Here are three ways you can utilize liquidity within the system:

• Collateral for borrowing and trading on margin
• Insurance pool liquidity (bailouts)
• Liquidity for market maker pools

Rewards

• Rewards pool: 600M EQ tokens.
• Epoch length: 28 days
• Number of epochs: 24
• Reward per epoch: 25M EQ tokens

About Equilibrium

Equilibrium is 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 is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.

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SOURCE:

https://medium.com/equilibrium-eosdt/earn-more-with-equilibrium-liquidity-farming-3945df077121

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