New HRMP Channels Have Opened Between Equilibrium and Astar Network
Get ready for the native movement of the ASTR, EQ, and EQD tokens between chains.
Throughout the history of blockchains, interoperability and multi-chain applications are considered the holy grail of Web 3.0. With the Polkadot ecosystem of parachains and cross-consensus messaging (XCM), not only do we have multi-chain assets, but we can leverage functional interoperability. At Astar Network, this is the key to creating the next generation of innovative dApps and further progress Web 3.0.
By opening HRMP channels with Equilibrium, we are starting a new chapter in our mission.
Value for Astar
By opening more channels on Astar Network, we are preparing to bootstrap the launch of ink! contracts and begin developing new ways to leverage the powerful XCM format that Polkadot offers. Our Wasm builders have new possibilities with Equilibrium’s growing suite of products: cross-chain markets, lending/borrowing, and fluid xDOT crowdloans.
We will introduct two new assets of Astar Network. EQ is a powerful token designed to be used across the Equilibrium ecosystem and has been integrated with leading infrastructure teams like SubWallet. With the launch of EQ governance and new liquidity mining programs this quarter, we are excited to bring this asset to Astar.
Equilibrium’s USD-pegged stablecoin, EQD, is another Polkadot-native stablecoin. It is overcollateralized and minted against a basket of assets on the Equilibrium platform. EQD holders will now be able to use this stable asset with DeFi projects in the Astar ecosystem. EQD allows you to build a portfolio that hedges against a volatile market while continuing to participate in DeFi activities.
Astar XCM vision
Astar CTO, Hoon Kim, wrote a comprehensive view of our vision for XCM. To understand Astar’s road to becoming the innovation hub on Polkadot reading our vision is a great start. Check it out: part I, part II, and part III.
Imagine if there is a utility smart contract that is dedicated to sending XCM calls for specific extrinsics on a parachain deployed on Astar Network, and all developers have to do is load from that contract to fully utilize what the parachain can offer to their dApp. With the right tools, the right mind, and progress from the ecosystem, we believe that this will be the future of dApps in a heterogeneous network of blockchains. Hoon Kim, CTO at Astar.
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 order book-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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About Astar
Astar Network — The Future of Smart Contracts for Multichain.
Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging (XCM). Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for their code and the dApps they build.
Astar’s vibrant ecosystem has become Polkadot’s leading Parachain globally, supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.
