Key Takeaways
- Equilibrium, a DeFi platform on the Polkadot network, has launched an incentivized liquidity mining program called EQ Blast, offering users the opportunity to earn attractive yields through diverse liquidity pools and yield strategies.
- EQ Blast will allocate 1% of the total EQ token supply for the program, with funds coming from a 10% allocation designated for incentivizing liquidity. The program will last for four months or until the quota is fully distributed.
- EQ is the utility token of the Equilibrium ecosystem, enabling community governance and utilization for transaction and product fees, as well as platform liquidity. Equilibrium’s platform offers a comprehensive DeFi product line on the Polkadot network.
- EQ Blast liquidity providers can expect to earn additional yields on their funds locked in Equilibrium’s pools and external incentivized pools on Polkadot DEXs.
- Users can also combine different pools to compose strategies and receive additional APR by locking EQ tokens to maximize their returns.
Equilibrium has launched EQ Blast, an incentivized liquidity mining program with a maximized APR of over 90% for users to earn attractive yields through the proprietary EQ utility token. EQ is the utility token of the Equilibrium ecosystem that enables community governance and usage for transaction fees, product fees, and platform liquidity.
The program allows users to access diverse liquidity pools and yield strategies to earn rewards. Equilibrium allocated 1% of the total EQ token supply from a 10% allocation assigned to incentivize liquidity for the first wave of the program, which will conclude after four months or until the quota is fully distributed.
According to Alex Melikhov, CEO at Equilibrium, the EQ Blast creates a meaningful way for users to earn rewards and build their portfolios using their platform.
To participate in the EQ Blast program, users must deposit funds into Equilibrium’s liquidity pools and can expect to earn additional yields on their funds locked in Equilibrium’s pools and external incentivized pools on Polkadot DEXs.
EQ Blast liquidity providers can also use EQ and EQD stablecoin for reward farming in incentivized pools of external DeFi projects in the Polkadot ecosystem. Participating users will receive APR payments above the standard yield they gain from these pools, with EQ token rewards every eight hours, and assets locked for six months.
Equilibrium offers a comprehensive DeFi product line on the Polkadot network, including basic staking opportunities that can be combined to maximize APR and APR multipliers up to 3.4x.
The available basic opportunities include DOT Liquid Staking, Stableswap Pool, Insurance Pool, and Lending Pool. The program offers dynamic APRs based on risk and market conditions.
Equilibrium supports over twelve tokens as collateral for mining EQD, including USDC, USDT, DOT, xDOT, eqDOT, WETH, GLMR, and ASTR, with additional tokens slated for addition later.
Equilibrium is backed by leading blockchain funds including DFG, Signum Capital, Signal Ventures, and OKX Blockdream Ventures, E.
James Wo, Founder and CEO of DFG, believes that Equilibrium’s liquidity program will generate interest for its existing network and encourage new users to join the community of a truly robust DeFi project.
Read Also: Equilibrium Launches The First Phase Of EQ Token Public Offering
