Polkadot cross-chain DeFi app Equilibrium has launched the first phase of the public offering for its native EQ token.
Equilibrium’s interoperable money market combines a comprehensive lending platform and a professional-grade cross-chain DEX, that allows 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.
An essential part of the Polkadot ecosystem, Equilibrium offers a full array of DeFi services including a decentralized exchange (DEX), money market, insurance, an automated market maker (AMM) for DOT vs DOT wrappers, and insurance.
Equilibrium intends to raise $500K in first phase, partners with Republic Crypto
Equilibrium has set a limited hard cap of $500,000 for Phase 1, and all participants are eligible for a special airdrop. The offering began on June 28 and will close on July 9 at 6:59 a.m. UTC, and it is open for everyone.
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 has also partnered with Republic Crypto, a Web3.0 investment firm, to accelerate the EQ token public offering.
Republic Crypto enables startups to fundraise and finance their coin offerings from pre-sale to launch while complying with all SEC requirements.
Alex Melikhov, Equilibrium’s CEO, said:
“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. 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.”
Equilibrium is backed by James Wo of DFG, the Crypto VC and leading institutional support of the Polkadot ecosystem. DFG’s portfolio has included equity holdings in Circle, LedgerX, Chainsafe, Bloq, Brave, Ripio, and Bitso, among others, and DFG was the lead investor in the development and launch of USDC.
Commenting on the EQ Token public offering, James Wo, the founder and CEO of DFG, said:
“This is amazing news for the Polkadot ecosystem we have been focusing on since 2020. We are very delighted to witness this breakthrough of Equilibrium.”
James pointed out that EQ token 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,” James said.
Read Also: Republic Raises $36M in Series A Funding Led by Galaxy Interactive
