Equilibrium will always strive to provide benefits for the community. We are partnering with Phala Network, a privacy-preserving cloud computing service in the Web 3.0 ecosystem, and doubling their bonus offer while also allocating a chunk of 2,000,000 EQ tokens to reward community backers who lock up their DOTs through xDOT. In return for this generosity, we expect our participants supporting Phala Network using xDOT will earn special rewards from them — an increased crowdloan bonus that equals 10 EQ tokens per staked DOT + 12 PHA + extra 5% for OG (contributors from the previous Khala Kusama auction will have a 5% extra reward, on top of the basic rewards).
This initiative is coming straight from Equilibrium as we see value in helping bring new people into the ecosystem which in turn decreases barriers by making crowdloan participation easier than ever before: just apply and receive funding! For such reasons, we have decided to contribute towards some part of what makes up the project that has gotten so much attention: the parachain implementation with its unique design pattern.
About Equilibrium
Equilibrium is a cross-chain DeFi super-app that combines a money market and a spot market with margin trading. The platform performs the full gamut of DeFi functions from pooled lending and synthetic asset generation to decentralized trading. 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 Phala Network
Phala Network is a Web3.0 computing cloud that supports data privacy while remaining trustless. Unlike centralized cloud service, Phala doesn’t own any server or data center. Anyone can provide permissionless servers into Phala Network, and because of a clever combination of blockchain and trusted execution environments (TEE), we can make sure the servers can’t be evil even when they are in an edge network situation. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.
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2,000,000 EQ Allocated by Equilibrium for Phala Users was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.
