Equilibrium’s xDOT (the liquid DOT staking product) is moving forward to provide more value to the Polkadot community. We are teaming with Astar, one of the top three crowdloan projects on Polkadot’s auction, offering a doubled crowdloan bonus and allocating a chunk of 200,000 EQ tokens to reward community backers who lock their DOTs for Astar via xDOT.
Participants supporting Astar network using xDOT will earn regular Astar crowdloan rewards plus a 100% increased crowdloan bonus which equals 1 EQ token for each staked DOT. The latter bonus is coming from a special allocation of 200,000 EQ tokens assigned specifically to the Astar crowdloan campaign.
We at Equilibrium see the value in the Astar parachain as it lowers barriers for new projects to enter the ecosystem, which in turn increases liquidity in Polkadot DeFi. With this motivation in mind, we have decided to contribute to Astar’s Polkadot success and the overall ecosystem sustainability.
Equilibrium is a cross-chain DeFi super-app that combines a money market and a spot market with margin trading. The platform performs the full gamut of DeFi functions from pooled lending and synthetic asset generation to decentralized trading. 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.
Astar Network (previously Plasm network) is a multi-chain decentralized application layer on Polkadot that incorporates Ethereum Virtual Machine, WebAssembly, and Layer2 solution. Aster has a native currency called ASTR and is currently leading the 3rd auction on Polkadot.
Bid for Astar here.
Equilibrium Allocates 200,000 EQ To Boost Astar Crowdloan was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.