Part 1: 50 /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50/5 users – Open chat for 120 seconds. You can post Max 3 questions. Panther Quant Team will select 5 questions and answer them.
For more details: Panther Quant – @pantherquant Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Part 1: 50$ /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50$/5 users – Open chat for 120 seconds. You can post Max 3 questions. Panther Quant Team will select 5 questions and answer them.
For more details: Panther Quant – @pantherquant Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Equlibrium and our guest was . The AMA took place on the 24th of May.
The AMA session was divided into 3 parts with a total crypto reward pool of $500
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Mary
| Satoshi Club
Hello Satoshi Club! We are happy to announce our
AMA session with Equilibrium! Welcome to
Satoshi Club
Gold
Rocket | Satoshi Club
Greetings,
dear Satoshi Club community!
Today our
guest is @hello_melikhov Alex Melikhov
Equlibrium CEO
Alex
| Equilibrium (Block me if I DM first)
Hello
everyone!
Glad to be
here with you today
Mary
| Satoshi Club
Hello, Alex!
Welcome to Satoshi Club
Alex
| Equilibrium (Block me if I DM first)
My pleasure
Mary
| Satoshi Club
How’s going?
Alex
| Equilibrium (Block me if I DM first)
Pretty good,
you know. How’s yours?
Mary
| Satoshi Club
We are good
as well
Let’s start
our AMA
Alex
| Equilibrium (Block me if I DM first)
That’s
amazing
Let’s do that
folks
Gold
Rocket | Satoshi Club
We are really
excited about upcoming AMA with you
Let’s start!
Introduce yourself please. How did you get to be involved in crypto &
Equlibrium
Alex
| Equilibrium (Block me if I DM first)
Thank you.
Our team is also excited and many of them actually watching us right now
Mary
| Satoshi Club
We will start
our AMA with introduction
Could you
please introduce yourself and tell us how did you get into crypto?
Alex
| Equilibrium (Block me if I DM first)
Sure. The
long story short, my name is Alex Melikhov and as you might already noticed,
I’m founder and CEO of the Equilibrium and Genshiro.
In general
I’m an engineer in applied mathematics, but also an interpreter. Before
blockchain I was focusing on fintech, mostly payment systems and gateways. I
became completely involved in crypto after co-founding Changelly in 2016.
I’ve been
working with my current team together since 2017, when we began building on
Ethereum. In April 2019 we launched the first EOS-based stablecoin and DeFi on
it. Back in the day I was really impressed of what you can actually do with EOS
blockchain.
Gold
Rocket | Satoshi Club
I also
noticed that you love New York
Alex
| Equilibrium (Block me if I DM first)
Thanks! Great
city btw
Mary
| Satoshi Club
Algo stable?
Alex
| Equilibrium (Block me if I DM first)
Anyway,
currently we are working on Polkadot-based Equilibrium and its canary network
on Kusama called Genshiro.
Collateral
baked
Mary
| Satoshi Club
Oh, nice So,
could you explain to our members what is Equilibrium now?
Gold
Rocket | Satoshi Club
Amazing
background
Gold
Rocket | Satoshi Club
love these
stickers
Alex
| Equilibrium (Block me if I DM first)
Sure. In
layman’s terms Equilibriums is DeFi 2.0 with high leverage. It’s a one-stop
platform to earn, borrow and trade at max efficiency.
In general
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 (in future
updates), decentralized stablecoin generation (like Synthetix and MakerDAO
respectively), and trading with margin(like dy/dx).
Gold
Rocket | Satoshi Club
This sounds
very promising.
Alex
| Equilibrium (Block me if I DM first)
In a nutshell
Equilibrium allows users to stake and earn, lend, borrow, raise liquidity in
synthetic assets and decentralized stablecoins and trade – all in one place.
Exactly
Gold
Rocket | Satoshi Club
Also we would
like to know more about your team. Who is on the project team core?
Alex
| Equilibrium (Block me if I DM first)
We have fully
decentralized team, many of them work remotely. Btw our headquarter is located
in Lisbon.
Mary
| Satoshi Club
I saw the
opinion that in order to come to the next stage of crypto mass adoption,
platforms need to simplify the use of products as much as possible. Are you
agree? Will your grandma be able to use Defi 2.0? Or it will be complicated for
her?
Gold
Rocket | Satoshi Club
Absolutely in
the spirit of the times. No to dusty offices, yes to intercontinental teams
Alex
| Equilibrium (Block me if I DM first)
All of our
team members is playing vital role in the development of Equilibrium and
Genshiro, but I can point 4 of them
1. Lesley Czuma
– our Business development lead
2. Peter
Sergeev – Sr Project Manager Tech Team
3. Yves Renno
– Lean Analyst
4. Benjamin
Khrapov – Tech Lead
Exactly,
right?
Gold
Rocket | Satoshi Club
dream team
Alex
| Equilibrium (Block me if I DM first)
Also, if your
community members want to learn more about our team. they can visit our
website: https://equilibrium.io/en/about
Gold
Rocket | Satoshi Club
This one
question
Gold
Rocket | Satoshi Club
Thanks for
sharing
Alex
| Equilibrium (Block me if I DM first)
Totally agree
with that! The main hurdle of DeFi is complexity and community are struggling
with it. Especially those who are not familiar with DeFi
One of our
goals here is the simplicity. Since the Genshiro (Equilibrium’s sister chain)
is already live, we’ve prepared detailed wiki on how you can use it: starting
from what is Genshiro and how you download Polkadot.js wallet, ending with some
complicated thing, like formulas, etc
How long does
it take to develop a project? What plans do you have for the future?
Mary
| Satoshi Club
Awesome! I
see you prepared well!
Gold
Rocket | Satoshi Club
I will
suggest to my granny to take a look (she is very modern)
Alex
| Equilibrium (Block me if I DM first)
It purely
depends on project, you know. There is neither exact receipt nor precise time
lines. It took almost year and a half for us to create Equilibrium and roll our
Genshiro in production.
Gold
Rocket | Satoshi Club
Thanks for
great introduction, we will have several questions selected for the Part 1.
Ready to start?
Alex
| Equilibrium (Block me if I DM first)
But anyway,
we still need to overcome some technical obstacles in order to release fully
polished Equilibrium app. Since Genshiro is our testing ground for future
features which will be implemented in Equilibrium, it can be a bit imperfect.
But this is Kusama, you know. Expect chaos!
In short, you
need to put a lot of effort if you want to create a leading product.
Gold
Rocket | Satoshi Club
I’m sure
you’re not afraid of difficulties
Alex
| Equilibrium (Block me if I DM first)
You know how
we say in Equilibrium?
Go hard or go
home!
Mary
| Satoshi Club
Ahaha, so i
assume you all go hard
Alex
| Equilibrium (Block me if I DM first)
We are
Gold
Rocket | Satoshi Club
Great Motto
Mary
| Satoshi Club
Incredible
team!
Alex
| Equilibrium (Block me if I DM first)
Thanks folks
Mary
| Satoshi Club
Alex, are you
ready for the questions from our community?
Gold
Rocket | Satoshi Club
So… lets go
Alex
| Equilibrium (Block me if I DM first)
I think I do!
Let’s do that
Gold
Rocket | Satoshi Club
Q1 from Telegram user @thisistoyin
Hello Equilibrium team.
About your Republic Campaign.
What Could be the Essence of your Republic Campaign? Could you tell us more about your Republic campaign? What goals are you aiming to achieve with this campaign? Could you also tell us more about the benefits for early contributors in your platform? However,
I noticed that you are currently hiring talents in your team. I would very much appreciate it if you could tell us more about the open positions and how to apply for a job in your platform. I hope the application process is still on?
Thank you
Alex
| Equilibrium (Block me if I DM first)
Ok, let me
cover it step by step
Gold
Rocket | Satoshi Club
Take your
time
Alex
| Equilibrium (Block me if I DM first)
I think I can
share some insights with you guys.As you folks already know, we are
running our Republic campaign. There’re several goals we are trying to achieve
right now, but – if I can say like that – one of the most important, is
simplicity and adoption.
As you can
know there are several hurdles in DeFi at the moment. Let me count it here
1. The most
common among them is excessive overcollaterization. Since most lending
protocols require heavy over-collateralization there’s a usual situation when
users need to pledge $200 in order to borrow $100.
2. The second
is liquidations. It is always done via auctions which is risky. Currently 90%
of collateral locked on Ethereum is subject to possible auctions. There might
be no arbitrageurs willing to buy liquidated assets even at a discount, which
puts the solvency of lending protocols at significant risk.
Mary
| Satoshi Club
True
Alex
| Equilibrium (Block me if I DM first)
3. The lack
of utility. Borrowers can’t utilize their loans directly in lending protocols.
Most loans in popular money markets are taken in major stablecoins for new
investment opportunities. But users need to switch to other applications as
there is no trading functionality on the initial platforms.
4. The last,
but not the least is no cross-chain functionality. DeFi liquidity is fragmented
across multiple networks. Due to the lack of seamless cross-chain transfers in
major DeFi protocols, a big part of the ecosystem remains underutilized.
Mary
| Satoshi Club
Totally agree
Alex
| Equilibrium (Block me if I DM first)
And that’s
where Equilibrium shines. We are the first DeFi 2.0 protocol on Polkadot with
novel on-chain approach to risk and pricing for asset portfolios. It enables
borrowing with minimum collateralization as low as 105% and margin trading with
up to 20X leverage.
Our Republic
campaign will help us to attract a lot of liquidity into the ecosystem in
general and to the Equilibrium in particular.
Mary
| Satoshi Club
What is your
final goal? Do you have numbers?
Alex
| Equilibrium (Block me if I DM first)
Waitlist is
already opened and you can join the campaign right now. Let me share the link
with you: https://equilibrium.io/en/republic-offering
Alex
| Equilibrium (Block me if I DM first)
Of course we
do. As I mentioned, we are aim to attract liquidity for the platform. Also,
good marketing and team members is cost you something
In numbers,
we allocated 720 millions EQ tokens for an event, which is 6% of total EQ
allocation.
By the way we
are also offering special conditions for influential communities and industry
media. So, feel free to contact us in any of our channels, if you are eligible
and interested.
Don’t you
afraid to start in bear market? Especially in times when whispers telling that
Defi is dead?
Alex
| Equilibrium (Block me if I DM first)
DeFi is not
dead, don’t believe the whispers.DeFi will stay and it is forever with
decentralized financial instruments
By the way,
most of the Dotsama projects was released in the bear market
Gold
Rocket | Satoshi Club
Thanks for
your great clear answers
Absolutely
agree
Alex
| Equilibrium (Block me if I DM first)
But as you
might see, particularly in Dotsama ecosystem, this was not a problem. Because
in Dotsama what is really matters is technology
Mary
| Satoshi Club
I like your
enthusiasm and believe that such projects as yours will take crypto to new
highs not only in terms of capitalisation, but quality as well
Gold
Rocket | Satoshi Club
I didn’t know
this fact
Alex
| Equilibrium (Block me if I DM first)
And in
Equilibrium, we are developing cutting edge tech
So, answering
your question – no, we are not afraid!
Gold
Rocket | Satoshi Club
It leads you
to success
Mary
| Satoshi Club
Thank you for your answers! Ready to proceed?
Alex
| Equilibrium (Block me if I DM first)
Thanks for
your support. Appreciate it
Gold
Rocket | Satoshi Club
Q2 from Telegram user @V1ct0r_26
Hello, Equilibrium’s Team!
I saw on your Medium articles that a few days ago, you successfully launched your On-Chain Orderbook DEX On Genshiro. Could you please give us more information about this On-Chain Orderbook DEX? What advanced features have been included in it that whe should be excited about? With the launch of this product, what trading pairs has been open and which ones will be included in the future? Also, speaking of this, can users help you decide which pairs will be getting included progressively? Lastly, I would like to know if you could tell us more about what kind of incentives will you give to liquidity providers and what mechanisms have you implemented on the platform for it? Thanks.
Alex
| Equilibrium (Block me if I DM first)
Good
question. Yes, this is the premiere orderbook-based decentralized exchange
(DEX) launched on the Dotsama ecosystem.
And it’s
fully on-chain. In general, this is the first fully on-chain orderbook DEX in
the Dotsama
Mary
| Satoshi Club
Does it mean
that we can place limit orders on your DEX as we used to place on CEXs?
Alex
| Equilibrium (Block me if I DM first)
The launch of
the new orderbook DEX includes advanced features catered specifically to our
community. Let me cover it here as well:
1. A fully
integrated on-chain orderbook.
2. Real-time
spot market with margin trading
3. Our DEX
offers the lowest comparative margin requirements (5%)
4. Users can
leverage up to 20X
The first
open trading pair is KSM-EQD that currently has ~ 100K ask side (KSM) and 100K
bid side (EQD) liquidity thanks to our bootstrap event. All subsequent pairs
will be opened upon reaching liquidity in the MM pools. This means 200,000 USD
worth of liquidity on each side (ask and bid).
Alex
| Equilibrium (Block me if I DM first)
Exactly!
Limit and market orders are included
Mary
| Satoshi Club
Wow! That’s
really cool
Alex
| Equilibrium (Block me if I DM first)
It really is.
And once we will reach threshold of $200,000 in our MM pool for, let say ETH,
we will launch ETH / EQD trading pair
So, basically
it all depends on the community now
Mary
| Satoshi Club
If we will go
back to the original question, what pairs we should expect to be added next?
Those, which will choose community?
Alex
| Equilibrium (Block me if I DM first)
Will they
bring us liquidity for BTC? Or for DOT? Or may be it will be CRV (CurveFi)? Who
knows! But we are so excited that our community can decide which trading pairs
they currently need the most.
Basically the
community will decide which one they need most.
Mary
| Satoshi Club
You
definitely know what you’re doing
Alex
| Equilibrium (Block me if I DM first)
Thank you for
such comprehensive questions
As I told you
Go hard or go
home!
Mary
| Satoshi Club
Thank you,
Alex for your detailed answers! Ready to jump to the next question?
Alex
| Equilibrium (Block me if I DM first)
Always ready
Gold
Rocket | Satoshi Club
Q3 from Telegram user @Cheriemike
The governance for Equilibrium will be driven by an on-chain process and will make use of the Democracy and Council pallets.Some of the main components of this governance model include Councils,Referendum and Voting.So what are the special voting rights Councils have within your system and how can one become part of a Council member or is it limited?Can all members of the Equilibrium community have a say when a Referendum is initiated since Referendum proposal have to do with change in the system?And for Voting aspect you said users will vote base stake-weighted basis.Can you please tell us what you mean by stake-weighted basis?Thanks
Alex
| Equilibrium (Block me if I DM first)
Hm, we
haven’t yet finalized all of the details, once they become available we will
share them with our beloved community. But I can definitely say that as we
indicated in our roadmap. we will implement governance in Q1 2023
By voting.
Several month ago we help redenomination event, where EQ holders should make a
decision – whether they want to increase total EQ amount or not.
The majority
voted “Yes” with their EQ and so we increased it. Community voting
and pure governance
Mary
| Satoshi Club
Gotcha! Thank
you
Alex
| Equilibrium (Block me if I DM first)
But we will
implement a bit more comprehensive system in future
Mary
| Satoshi Club
We will
follow your updates sure it will be
something special
Mary
| Satoshi Club
Ready for the
next question?
Alex
| Equilibrium (Block me if I DM first)
Sure. Shoot!
Gold
Rocket | Satoshi Club
Q4 from Telegram User @JesusFre1tes
Currently their Trading + Lending + Synthesizers platform is available on the Ethereum and Binance Smart Chain networks; but I read on their website that it will soon also be available on Houbi, Solana and Bitcoin soon. What will be the tools you will make use of to maintain seamless interoperability between chains? With these new blockchain network integrations, what impact will it have on Equilibrium protocols and $EQ trading?
Alex
| Equilibrium (Block me if I DM first)
That’s not
quite that. Our platform is developed on Substrate and based on Polkadot.
Equilibrium is already a parachain and fully integrated in the Polkadot
ecosystem.
I think
JesusFre1tes meant our bridges
We do have
Ethereum and BSC bridges
This means
that you can transfer (bridge) ERC20 and BEP20 assets to our system and fully
utilize it
Let me show
you how you can do that
Alex
| Equilibrium (Block me if I DM first)
Here’s the
screenshot from Genshiro
Mary
| Satoshi Club
Any other
blockchains you plan to be added?
Alex
| Equilibrium (Block me if I DM first)
As you can
see, my portfolio counts several assets, as well as ERC20 tokens (CRV, ETH) and
BEP20 (BNB, BUSD)
That’s the
power of bridging. You are not constrained with Substrate native assets only,
like DOT, KSM, EQ or ACA
Yes. Polygon,
Bitcoin and Cosmos
Mary
| Satoshi Club
Perfect
Alex
| Equilibrium (Block me if I DM first)
Thank you!
Mary
| Satoshi Club
İ love that
bridging is easy now
Thank you for
your answers! Ready to answer next question?
Alex
| Equilibrium (Block me if I DM first)
Sure
Gold
Rocket | Satoshi Club
Q5 from Telegram User @Danylko_UA
Hello Equilibrium Team!
Firstly, I must commend the projects’s team. The general structure, views, aims/goals of the platform is something I find very pleasing and interesting. From my research, I had observed that there was a transfer of xDOT allocations to participants/users in the Equilibrium group loan, which happened April, 2022. Can you give more details on this financial strategy? what is the idea behind this? What was the aim and essence of this strategy? In what ways have this been beneficial to the Equilibrium platform as well as the users? You had mentioned that xDOT offers a substantial amount of use cases on Genshiro: what are these use cases? Site some examples, thanks.
Alex
| Equilibrium (Block me if I DM first)
That’s a good
one. Let me cover it in details
Our users
stake their DOT for their favorite Polkadot parachain and get xDOT in return.
xDOT offers a substantial amount of use cases on Genshiro, our Kusama-based
canary network, that includes trading, staking, and collateralizing to take
loans. As such, you won’t get stuck with your DOT locked for the two-year
parachain lease period and without a guarantee that a project performs well or
DOT doesn’t drop in value.
Alex
| Equilibrium (Block me if I DM first)
In general,
you will receive the exact amount of xDOT in exchange for your DOT immediately.
It’s only for
Equilibrium contributors? Any plans to repeat something like this in the
future?
Alex
| Equilibrium (Block me if I DM first)
We will soon
run campaign with future Polkadot auctions participants. You know, stay tuned
for our anns
Mary
| Satoshi Club
For sure
Thank you for
your answers! Ready for the 6th and last question from this part?
Alex
| Equilibrium (Block me if I DM first)
Yes, let’s do
that
Gold
Rocket | Satoshi Club
Q6 from Telegram User @ghostofcharmeleon
Hello, the Equilibrium team.
As I understand it, only participants who pass KYC and meet the requirements of their place of residence will be able to participate in the public offer of $EQ. However, you position yourself as a DEFI 2.0 project. Don’t you think that the authentication system of your project contradicts the very philosophy of crypto – providing unlimited access to finance to anyone, and besides this returns the problem that DEFI 1.0 sought to solve – anonymization of users and interaction of contracts directly with the wallet, bypassing the CEX exchange?
Alex
| Equilibrium (Block me if I DM first)
Good
question. Basically this rather depends on Republic. KYC is their requirement
and we must follow it. We are aim to attract a lot of non-crypto investors and
Republic is one of the best places of doing so.
Also, we
allocate significant amount of EQ for our crowdloan participants. And as
noticed, our personal crowdloan campaign didn’t required any form of KYC
Speaking of
Republic, let me share some new with you folks
Mary
| Satoshi Club
Sure
Alex
| Equilibrium (Block me if I DM first)
We are
currently running EQ airdrop campaign!
Mary
| Satoshi Club
Oh, this
sweet word airdrop
Alex
| Equilibrium (Block me if I DM first)
Let me share
the announcement here with you. This is the only way when you will be able to
get EQ. Besides our Republic campaign.
Mary
| Satoshi Club
Shoot it
Alex
| Equilibrium (Block me if I DM first)
Mega $10,000 worth EQ Gleam Community
Giveaway!
On the occasion of Equilibrium winning the
Parachain on Polkadot and the upcoming EQ token sale on Republic, we are doing
a $10,000 worth EQ tokens community giveaway.
250 random
winners will get a $40 worth of EQ tokens each at a public sale price.
All you need
to do is simply complete the tasks on gleam to win.
Could you
please PIN it for a while? If this is possible of course.
Mary
| Satoshi Club
Satoshiclubbers,
let’s try our luck
Gold
Rocket | Satoshi Club
Don’t miss
great opportunity Satoshi clubbers
Mary
| Satoshi Club
Alex, this
was awesome, great and perfect first part of our AMA
Gold
Rocket | Satoshi Club
Thanks for
this amazing first part of AMA
Mary
| Satoshi Club
But i can
hear the sound of printing fingers besides the screen
Gold
Rocket | Satoshi Club
You are
awesome speaker
Alex
| Equilibrium (Block me if I DM first)
It was a
pleasure
Mary
| Satoshi Club
Our users are
preparing for the live part!
Alex, are you
ready?
Alex
| Equilibrium (Block me if I DM first)
How much
should I pick?
Always ready
Gold
Rocket | Satoshi Club
10 best
questions
Alex
| Equilibrium (Block me if I DM first)
Ok, let’s try
it!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @LuisPagulayan
I read about your EQ Gleam Giveaway. Was is done now? Will there be any chance that those who are interested to use Equilibrium platform participate in this kind of activities? What requisites should be complied first to be able to join soon?
Alex | Equilibrium (Block me if I DM first)
Giveaway is still active! You have a solid chances of getting EQ. All you have to do is to complete our Gleam campaign here: https://bit.ly/EQGleamGiveaway1
Q2 from Telegram user @AugusS7
It caught my attention that on your website they say that “Equilibrium improves everything”, but could you really describe to us what specific characteristics in DeFi it improves? and will it really be available to any user?
Alex | Equilibrium (Block me if I DM first)
Let me cover 5 most important things here. We have 5 advantages among the other DeFi projects in Dotsama ecosystem.
Cross-chain all-in-one DeFi platform
Own parachains on Polkadot & Kusama are already live
The first orderbook-based DEX on Polkadot
with leverage up to 20X
A money market with critical collateralization is as low as 105%
Features: pooled lending, trading on margin, native decentralized stablecoin, synths, perpetuals
Q3 from Telegram user @V1ct0r_26
When I was reading about the project, I saw that there are three different roles users can take on the system, which are; traders, lenders, and bailsmen. What caught my eye here was the bailsmen’s role since is something I’ve never heard of before, so, could you please give us more details about what a Bailsmen is and what role do they fullfil on Equilibrium’s correct development? How can someone become a Bailsmen, what requirements do they need to meet and how can someone apply for this role? What do they need to do while performing this role? How is a bailsmen important on the platform? What benefits can Bailsmen receive from their job on Equilibrium? Thanks.
Alex | Equilibrium (Block me if I DM first)
Basically there’re 3 roles which you can take in Equilibrium & Genshiro:
Borrower role
Bailsman role
Trader role
And while trader role is obviously familiar to you, Bailsman role might be not. 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.
By securing loans in the system, Bailsman receive around 25% APR at the moment.
Could you elaborate on Genshiro? How functions could this product accomplish specifically? Which allows Equilibrium and Genshiro to offer services with lower risks and cross-chain accessibility?
Alex | Equilibrium (Block me if I DM first)
Genshiro is a cross-chain protocol that helps users seamlessly earn yield, borrow and trade margin. Using asset portfolios instead of single collateral vaults.
Can you give details about the process waiting for the people who have joined the whiletlist and won the right to buy? For example, how will they make the payment and receive their $EQ tokens?
Alex | Equilibrium (Block me if I DM first)
Details on that will be published in our Social Media. By the way, don’t hesitate to subscribe. We will also share EQ airdrop results there:
There are plenty of tasks planned for the next month including the launch of money market and spot margin trading. Will you complete those tasks despite the current bear market? How does the current market affect the future of Equilibrium? Should I hesitate to invest in your project due to this market condition?
Alex | Equilibrium (Block me if I DM first)
Exactly. Let me share our roadmap with you here. Here you can see the whole picture of our plans as well as the approximate deadlines.
The main priority for us at the moment is polishing Equilibrium app and releasing it to the production.
Q7 from Telegram user @musulusoy
Do team members only make decisions about the future of your project, or do you have a governance (DAO) model that truly cares about the community’s opinions?
Alex | Equilibrium (Block me if I DM first)
As I mentioned above, we will implement full DAO in future. We have plans on implementing the comprehensive governance model in Q1 2023.
Q8 from Telegram user @Kushal85127939
One of the recent case of Terra luna which cause most of the Investors to suffer heavy loss. How Equillibrium ensure usage Investors funds will be safe when using Synthetic stablecoins in Equillibrium Platform?
Alex | Equilibrium (Block me if I DM first)
Well, LUNA is algorithmic stablecoin, EQD is colalteral backed stable coin, these are different approches and with collateral backed stablecoin the bankrupts are not possible.
Q9 from Telegram user @mamamelos2
Equilibrium is a comprehensive platform to earn, borrow, trade with maximum efficiency, offering users everything in one place in the DeFi market. But the integration of Genshiro in Equilibrium caught my attention. What impacts can Genshiro have on its ecosystem? What advantages and benefits will it bring both to the community and to investors?
Alex | Equilibrium (Block me if I DM first)
Genshiro is Equilibrium’s testing ground. For these purposes, our Kusama-based parachain inherits an experimental spirit that’s quite common for the Kusama network. It’s a testing site for our future products before they’re deployed to Equilibrium. This means we get to implement some new features for future iterations of Genshiro, like derivatives, perpetual swaps, and futures contracts on gold, ETFs, commodities, and stocks.
Q10 from Telegram user @Ravan_since_1996
When is your public sale gonna start? And what is the price of tokens ?
⚠️Requirements: 👉 Join Indonesian Satoshi Club Telegram group 👉 Join DEFY Telegram chat
We will have the following structure:
Part 1: 50 /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50/5 users – Open chat for 120 seconds. You can post Max 3 questions. DEFY Team will select 5 questions and answer them.
For more details: DEFY – @DEFYofficial Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish Indonesia – @satoshi_club_indonesia
⚠️Requirements: 👉 Join Indonesian Satoshi Club Telegram group 👉 Join LunchDao Discord channel
We will have the following structure:
Part 1: 50 /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50/5 users – Open chat for 120 seconds. You can post Max 3 questions. LunchDao Team will select 5 questions and answer them.
For more details: LunchDao – @LaunchDao Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish Indonesia – @satoshi_club_indonesia
⚠️Requirements: 👉 Join Satoshi Club Spanish Telegram group 👉 Join Kubecoin Telegram group
We will have the following structure:
Part 1: 50$ /5 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 5 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 50$/5 users – Open chat for 120 seconds. You can post Max 3 questions. Kubecoin Team will select 5 questions and answer them.
For more details: Kubecoin – @kubecoin Satoshi Club – @satoshi_club Russian – @satoshi_club_ru Spanish – @satoshi_club_spanish
The debate over whether cryptocurrency is superior to banking is as old as blockchain technology itself. Blockchain technology traces its history to the 2007 economic downturn when the world suffered as a result of poor central bank management.
As a consequence, cryptocurrencies were born, and they now outperform banking systems in terms of efficiency. They also provide superior financial systems than banks. The primary downside of cryptocurrencies right now is their volatility, as evidenced by the crypto fear and greed index. As a result, cryptocurrency cannot be used in day-to-day transactions.
Cryptocurrencies have rather strong security systems, which is appealing to investors. They also provide more dependable transactions at faster speeds than conventional alternatives. As a result, they are becoming crucial in facilitating a better and cashless financial era. However, as previously stated, there is still work to be done for cryptocurrencies to close all gaps in traditional banking systems. Kyrrex aspires to fill these enormous shoes.
What is Kyrrex?
Kyrrex is a worldwide investing, payment, and economic ecosystem that aims to blur the line between banking and cryptocurrency by offering a concise range of products and services to everyone, wherever.
Kyrrex is the first of its kind. It holds its place as the first global digital bank to ever exist. It is a remarkable platform that has disrupted the traditional financial world by integrating it with digital finance and cryptocurrency trading. It is now simpler than before to exchange fiat currencies for digital assets and conversely by using a single tool like Kyrrex.
Commitment is one of the core languages of Kyrrex as it is committed to reshaping the fresh-faced cryptocurrency market. It hopes to achieve this with traditional market expertise, professional tools, and techniques adapted to an online environment. Kyrrex is one of those projects that sees the demand for all-in-one solutions and opts to wear the big shoes.
Kyrrex’s primary goal is to create a global system of financial services or products that are accessible from anywhere and at any time, regardless of geographical, legal, or time constraints. Kyrrex’s products are available to both corporate and retail clients. Its product collection includes Crypto Exchange, Liquidity Hub, OTC Platform and Wallet, Banking, Tokenization Platform, and Crypto Merchant.
Kyrrex is the World`s First Global Digital Bank
Kyrrex, as a neobank, provides users with unparalleled versatility and flexibility. This platform uses the best of technology, an avalanche of finance and investment tools, investment services, and traditional banking all finely paired with blockchain technology.
Kyrrex has several features which come together to make it stand out from anything you’ve ever seen out there. Kyrrex’s robust ecosystem offers the market a game-changing financial model that includes digital banking services and the capacity to work with more than 177 cryptocurrencies. Also, it can be used to send funds directly to credit and debit cards. What’s more? It is also very secure to use because of its hybrid cryptographic encryption methods.
More features include low trading fees, a deep liquidity pool, speedy transactions, Up to 14.5% APY with $KRRX token, 24/7 virtual customer support, integrated wallets (web and mobile wallets), and a Class 4 VFA License.
The Exceptional Kyrrex Ecosystem
Kyrrex’s ecosystem enables a one-stop-shop experience by utilizing cutting-edge trading and custody innovation that is rooted in advanced and proprietary algorithms and is delivered via a safe and stable infrastructure. Its ecosystem comprises:
Kyrrex Crypto Exchange
One of the key business components of the Kyrrex ecosystem is its professional cryptocurrency exchange. Users can trade on demo or real accounts, exchange and store cryptocurrency and fiat, and enjoy daily trading tips as well as educational courses, and a lot of other features.
The extensive range of services offered on the exchange includes trading on demo or real accounts, exchanging and storing cryptocurrencies and fiat, educational courses, daily trading ideas, and many other features. The exchange also offers users complete protection and management of their crypto assets.
Liquidity Hub
Kyrrex offers a diverse profile of crypto services, as well as ample and often available liquidity via a dependable order book with installed real-time data streams. Its adaptable liquidity hub provides extremely high liquidity to meet even the most stringent corporate requirements.
Kyrrex OTC Platform and Wallet
Kyrrex Crypto OTC
Kyrrex Crypto OTC (over-the-counter trading) serves as Kyrrex’s professional retail and institutional traders with fast, secure, and convenient ways for purchasing and selling digital assets at fixed rates.
Kyrrex Crypto Wallet
The Kyrrex Crypto Wallet is a multicurrency wallet that allows you to buy, sell, and store cryptocurrency and fiat currencies. It gives you complete control over your holdings thanks to industry-leading portfolio management features. All users can backup their funds, protecting their assets from third parties who try to gain unapproved access to the wallet.
Banking
Kyrrex is the first global digital bank in the world. It enables all global traditional finance operations to be completed quickly, securely, and efficiently. Customers, both private and corporate, can open accounts and trade multi-currency bank accounts, including IBN. Users can do a lot more with this key feature of the Kyrrex ecosystem.
Tokenization Platform
Kyrrex supports tokenization on any of the user’s assets. It offers the user actual accounting system auditing, equity ownership, the development of a secondary asset market, and the upkeep of a token ownership registry. Also, users can safely trade with assets.
Crypto Merchant Platform
Kyrrex’s crypto merchant platform hopes to connect users to the world of e-commerce and online business. It allows these users to receive payment for any goods or services that their company provides. It also allows customers to make payments to businesses via the Kyrrex platform, and much more.
Meet the Kyrrex Team
Kyrrex’s team comprises a group of European genius entrepreneurs and technical gurus as well as financial and technology experts from the United States.
Roadmap
Tokenomics
The native ecosystem utility token of the Kyrrex project is the $KRRX token. It has various use cases across all products and features available on the platform. It also provides exclusive benefits to all $KRRX holders. It is a critical part of the Kyrrex ecosystem. The total emission for the $KRRX utility token is 500,000,000. Currently, the token price for one $KRRX is one dollar ($1).
Token Benefits
Trading Commissions: Users receive additional discounts on all their trades when they stake $KRRK tokens. The more $KRRX tokens that are staked, the greater the discount that users receive on all of their trades.
Smart Trading: This feature is expected to be implemented in Q1 2022. Upon launch оf the Trade Ideas functionality, users will be enabled to subscribe and follow other traders. The cost for this service will be fixed and can be paid either in fiat, crypto, or $KRRX tokens.
Multi-Account Management: This feature is expected to be implemented in Q1 2022. Following the introduction of the MAM (Multi-Account Manager) service, investors who consent to pay a fee on profits made in $KRRX tokens will be able to claim a 10% discount on the amount paid for a manager’s services (trader). Managers (traders) who claim a reward in $KRRX tokens from investors will earn a 10% bonus on that reward.
Referral Program: This feature is expected to be implemented in Q1 2022. The Kyrrex Referral Program urges users not only to stake their $KRRX holdings but also to refer new users to the Kyrrex ecosystem. Kyrrex offers a secret bonus that becomes accessible after a user invites at least three other users to register and transact on the platform.
Bonus Program: Each user has the opportunity to receive additional bonuses for using the Kyrrex crypto exchange when they pass verification on the exchange. They also receive bonuses when they deposit assets valued at $500 or above.
Online Banking: This feature is expected to be implemented in Q4 2022. Users of Kyrrex’s online banking feature will receive benefits like $KRRK tokens, cashback, discounts, and payment widgets.
Token Allocation
Use of Collected Funds
Collected funds by the Kyrrex Team will be used thus:
45% of the total received funds will be invested in the development of the Kyrrex ecosystem products. 35% will be used to implement Kyrrex’s top-notch marketing strategies. 10% of the funds received will be used to support legal operations in various regions. The remaining 10% will be used as an insurance fund to cover costs in any unforeseeable circumstances that threaten the contract between Kyrrex and its users or investors.
