The Equilibrium team wishes you Happy Holidays and rolls out this comprehensive guide to help our community get the most out of our crowdloan and to understand our bonus structure. We are pleased to announce our early bird bonus has been extended over the next several days. Crowdloan participants will receive 30% more EQ for a limited time.
The fastest way to get started is by visiting our crowdloan page. The only way to get your hands on EQ tokens right now is by pledging DOT in Equilibrium’s Polkadot crowdloan. Rewards and bonuses encourage members of our community to vote for Equilibrium. In addition, xDOT is distributed back to voters, giving them different opportunities to use their xDOT on Genshiro or Equilibrium’s newly launched exchange. Holders do not have to wait two years before they can trade back their xDOT for DOT.
For Ledger X and Ledger S device users, please note that we’ve added a way to vote with your Ledger.
Check yourself — here are six simple steps to vote with Equilibrium and get bonuses:
- Install the Polakdot.js wallet (here is the link to the guide).
- Top up your balance with some DOT.
- Visit our crowdloan page: https://equilibrium.io/en/crowdloan .
- Scroll down to use the calculator.
- Click “Connect Wallet” and enter the desired amount of DOT. On the right, you will see your rewards: the number of EQ tokens, all your bonuses, and the amount of xDOT.
- Press “Deposit.” That’s it! You’re good to go!
Support Equilibrium with your DOT! We assure you it takes less time than reading this guide.
It is also possible to vote via a special crowdloan module on the Polkadot.JS portal or use centralized exchanges, like KuCoin, Kraken, and Gate. Participation by any of these methods has one major drawback: you will NOT receive xDOT. It means your DOT will be simply locked for two years and there is no way to leverage its liquidity during this period.
What will I get? Why participate in Equilibrium’s crowdloan?
Equilibrium offers a number of benefits to participants in its crowdloan. Equilibrium allocates one of the highest shares of total token supply for crowdloans. Whoping 20% of the entire EQ token supply is available for you as crowdloan rewards! This means Equilibrium rewards are among the highest possible out of all projects who currently engage in batch 2 crowdloan auctions.
Next, here is EQ bonus structure:
- Crowdloan rewards: 200 EQ per 1 DOT.
- Our 30% early bird bonus
- 6% referral bonus: 3% for referrals + 3% for referrers.
It goes without saying that voting is conducted via xDOT. You will receive xDOT in addition to bonuses and rewards, with the ability to earn money by staking it and generating liquidity (which you can do by using our money market on Genshiro, for instance).
Winning a parachain slot auction means Equilibrium can successfully be deployed on Polkadot’s network. Bridge, borrow, lend, trade, swap, and stake assets both from the Polkadot ecosystem and from other blockchains. The list includes Ethereum, BSC, HECO, and many others to come. As such, one of the most advanced DeFi platforms, and all of its cross-chain tools, will become accessible. And guess who’s in front of the line? You are!
EQ token holders can generate income 24/7 through yield farming. Users will be able to earn higher yield profits by staking EQ tokens in liquidity pools, increasing farming rates up to 100%.
All of the benefits listed above make Equilibrium a strong contender in Polkadot’s parachain auction. Supporting Equilibrium by staking DOT not only results in EQ tokens, but also xDOT. Both are one way tickets to new and exciting ways of using DeFi across many blockchain ecosystems. Don’t forget about our extended 30% early bird bonus period.
To learn more details about bonuses, read about our strategy here.
What is the time frame for the crowdloan?
The crowdloan is starting on December 23. It lasts for a week so it’s highly recommended that you take part as soon as possible.
Why is it better to participate now?
It is simple: the earlier you join, the higher your rewards will be! In addition to huge bonuses, which can be as high as 40%, all early participants are automatically eligible for special Christmas/Holiday bonuses we will be distributing out before December 25th.
What is a crowdloan?
A crowdloan is a way of voting by staking DOT for new projects. Doing so will help the project to get a certain amount of DOT required in order to win the parachain slot. DOT is held for 2 years and returned to the owner later, but if you use xDOT you don’t lose that liquidity. Users can earn on their DOT during the lease period.
About Equilibrium
Equilibrium is a comprehensive cross-chain DeFi super-app that combines a full-fledged money market with a spot market, synthetics, and perpetuals. We are the first to bring the best practices of mainstream finance on-chain, including risk-based pricing, portfolio margining, and insurance. Our developments have received several grants from the Web3 Foundation.
Equilibrium is supported by known ecosystem funds like KR1, CMS Holdings, Genesis Block Ventures, PNYX Ventures, Signum Capital, and DFG. EQ is the native utility token, used for communal governance of Equilibrium. xDOT is liquid and tradeable wrapped DOT that unlocks liquidity of DOT pledged to parachain auctions and delivers multiple crowdloan bonuses on Polkadot. Equilibrium’s sister project (and recent slot winner) Genshiro is one of the first DeFi platforms running on Kusama.
Bid for Equilibrium via our website and calculate your rewards online!
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EQ Crowdloan Participation Checklist was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.
