Equilibrium: October 2022 in Review
Following our September Closed Beta launch, October was also very busy. We spent time compiling and working through the results from the Closed Beta and participated in a couple of events.
Here’s a highlight of all the activities of October.
- Our recent Web3alert integration lets you track your trade positions
- Alex mentored at Polkadot Base Camp by Outlier Ventures. Again!
- We were blown away by the Closed Beta results
- Outstanding team performances
- We got featured on Crypto News
- Tutorial videos to help you navigate Equilibrium’s UI
- The Equilibrium team attended GITEX Global
- Did you miss our community call?
- CRUST wins parachain slot
- Thanks for being a being a part of our community
Let’s dive in.
Our recent Web3alert integration lets you track your trade positions
We are proud to inform you that we have successfully integrated with Web3alert by Ryabina — this is one of our most important integrations ever. Now you can track your trade positions and we’ll send you instant notifications of various events like margin calls and liquidations so you can possibly prevent many liquidation scenarios.
Find out more here.
Alex mentored at Polkadot Base Camp. Again!
Alex has been a long-time mentor of the program and was invited to the 3rd Wave to help build a 360° support for projects building on Polkadot.
Learn more about the Polkadot Base Camp.
We were blown away by the Closed Beta results
We are excited you took the Equilibrium application on a spin and pushed it to its limits.
Your activities made the Closed Beta stats impressive right from the get go. $3 million was deposited within the first 7 days was unbelievable. And by the 8th day, we had recorded a cumulative trading volume of over $52 million. Within the same period, our DEX cumulative debt rose to over $4.5 million indicating a lot of users showed interest in collateralizing their assets to earn rewards.
At the end, we recorded 2247 unique pool deposits. You can check out some of the raw data from your engagement with the insurance pool.
Cryptus Media and Darwinia Network emerged as the top performers. You can find the other top performers and know your position on our leaderboard. You can check out the non-technical breakdown of the number of daily active users, most traded assets, trading volumes, etc., in this super cool in-depth analysis.
If you’re one of the winners, do follow us on our social channels as we’ll distribute the rewards this November.
Outstanding team performances
Beamswap put up one of the finest performances with the top 5 users on their team trading an accumulated volume of over $430,000 in the early stages of the competition. Phala Network team members were also very active in our insurance and lending pools. The Avault Star team had one of the most diversified portfolio of deposited assets. And you can find the assets that Astar Degens deposited here.
In case you missed it, Alex, our CEO, gave a special thank you note to every member of our community for the success of the event. Read what he said.
We got featured on Crypto News
We weren’t the only ones excited about the Beta’s performance — Crypto News also featured us.
That’s why we’re inviting you to come have a 1:1 chat with us and share your feedback if you participated in our Closed Beta.
Tutorial videos to help you navigate Equilibrium’s UI
We created a couple of video guides to help you navigate our UI.
This quick guide details how to navigate your account and track your portfolio’s performance. Our money market interface guide shows the TVL, collateral, and assets on our money market. And if you’d love to borrow assets on our money market and trade on margin in our DEX, here’s how.
We’ve got lots of great informational content in the pipeline for you, so ensure to subscribe and join our Discord.
The Equilibrium team attended GITEX Global
Another interesting activity in October was our participation in GITEX Global — the largest tech event in the Middle East. Big names in the crypto industry like FTX and Binance were in attendance. We were excited to meet with potential partners to discuss Equilibrium’s launch.
Did you miss our community call?
We held our last month’s community call where we shared our progress so far and development updates with our community. We also got to speak live with members of the Cryptus team (Closed Beta winners) where they shared their honest review of the event. Read the recap.
Thanks for being a being a part of our community
We were surprised (and humbled) by the massive engagement you and other members of our community demonstrated in our Closed Beta launch.
With your continued support and encouragement, we strongly believe we can continue to build a sustainable future for cross-chain DeFi interactions.
Thanks once more, and we look forward to another full month of progress, innovation, and community-building with you.
About Equilibrium
Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an orderbook-based DEX. 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.
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