Polkadot cross-chain DeFi app Equilibrium kicks off Phase 1 of the public offering for its native EQ token with help from Republic Crypto
Equilibrium, the one-stop decentralized finance (DeFi) platform with a consensus based governance system that is an integral part of the Polkadot ecosystem, partners with Republic Crypto, a Web3.0 investment firm. Through the partnership, Equilibrium will accelerate the first-ever public offering of its native EQ token.
Phase 1 of the offering is available for everyone as it rolled out on June 28 and will close on the morning of July 9. A limited hard cap of 500,000 USD was set for Phase 1, and all participants are eligible for a special airdrop. Phase 2 is split into two phases: early access and public access. Early access is reserved for an overflow of Phase 1 participants who registered for the Reg D whitelist prior to June 12, while public access is open to all.
Equilibrium’s interoperable money market combines a comprehensive lending platform and a professional-grade cross-chain DEX, allowing for high-leverage borrowing and trading thanks to an innovative financial engineering mechanism on the backend. The platform marries a money market with an orderbook DEX to facilitate an all-encompassing DeFi platform. Republic Crypto is an investment firm supporting the most ambitious builders and investors in the Web3.0 space.
“Our token distribution event with Republic Crypto is a major milestone for Equilibrium and it comes on the heels of our successful money market launch,” says Alex Melikhov, Equilibrium’s CEO. “This is a major step towards solidifying ourselves as the premier DeFi platform in the Polkadot ecosystem and pushing the blockchain space toward a NPoS model.”
DFG is an early investor and strategic partner of Equilibrium. “This is amazing news for the Polkadot ecosystem we have been focusing on since 2020.” James Wo, the founder and CEO of DFG comments. “We are very delighted to witness this breakthrough of Equilibrium. Their native token EQ has a tremendous potential to offer more features and better values to investors. The success of the initial offering on Republic also indicates a brand new chapter for Equilibrium. “