September was one of the busiest months we have had in a while. There were lots of community events, but the biggest of them all was the launch of our long-awaited Closed Beta.
We’ve compiled a list of the major highlights and developments to keep you updated on our progress.
- Equilibrium’s Closed Beta launch kicking off
- Stats from the Closed Beta launch
- Closed Beta rewards
- Lessons on how to maximize your portfolio
- Participating in several AMAs
- Integrated with Subscan
- We went to Singapore
- We upgraded our UI and other backend functionalities
Equilibrium’s Closed Beta launch kicking off
Right from mid August, we have been spreading word of our Closed Beta launch across to you. And we are super excited to inform you that the Closed Beta went live on 28th September, 2022.
We are not the only ones pumped for the launch. The entire Polkadot ecosystem and members of our community have expressed their excitement for this event. This is evident in the amount of interest the launch attracted.
Some of the big ecosystem names that joined the waitlist are SubWallet, Talisman, Astar, Subsocial, Beamswap, Phala Network, Kylin Network, and many others.
Do check here to know if your favorite team was among the participants.
Stats from the Closed Beta launch
We were surprised by the overwhelming interest our community showed in our Closed Beta. We got 10,000 applications for our waitlist and chose 5,000 participants despite an initial plan of admitting 500 participants. We have 23 teams participating in this Beta round. Some of the notable names that were selected include Phala Network, Avault Finance, Its Blockchain, Subsocial, Darwinia Network, Algem, Beamswap, Starlay, and Astar Degens.
It promises to be exciting. Feel free to check if your team is one of the competitors.
Closed Beta rewards
One of the major highlights of September was the introduction of the reward system for the Closed Beta event.
There are lots of amazing prizes to be received like the 100,000–200,000 EQ guaranteed allocation and 1,300,000 $EQ top prize the teams will compete for. But that’s not all.
While we have been talking about the teams participating in the event, the competition is not only limited to team participation. There will also be individual participants. Individual participants either do not belong to a team or their teams could not pass the 30-participant threshold.
Individual users will compete for the prize of 650,000 $EQ. However, the grand prize of 1,300,000 $EQ will go to the champion team.
If you are participating in our Closed Beta, you can track your (and your team’s) position on the leaderboard.
Lessons on how to maximize your portfolio
To be a winner in Equilibrium’s Closed Beta, you will need to have one of the largest portfolio values at the end of the competition. To help you achieve this ambitious goal, we spent the whole of September educating participants on how to earn variable interest rates to maximize their portfolio values.
Do check our Medium and YouTube channel to learn strategies to earn as a participant.
Connecting with our community through AMAs
Our community is at the forefront of everything we do at Equilibrium. And we are always looking for opportunities to connect with and leverage our base. So all through the month of September, we hosted several community AMAs to discuss issues beneficial to you.
We collaborated with Algem, where we talked about why we chose to build on Polkadot, the problems we solve, and the core functionalities of our platform. We also hosted AMAs with Beamswap, Subsocial, and Darwinia AMAs where Natalie Cheah from the Business Development team shedded more light on the Closed Beta and how you can participate with your team.
Integrated with Subscan
In September, Equilibrium and Genshiro officially went live on Subscan.
We did this to provide you and other members of our community better on-chain data transparency. Now you can explore, verify, and visualize various on-chain data on your Equilibrium and Genshiro accounts. This integration will also allow you track your on-chain transactions.
Here is all you need to know about this integration.
We went to Singapore
In September, Alex and Natalie attended the TOKEN2049 event in Singapore. This is one of the largest crypto events in Asia: attracting over 7,000 participants from all over the globe.
Our interest was mostly in the Polkadot ecosystem events. So we attended three events including the main event which was held on the 28th.
We got the opportunity to exchange ideas and explore partnership collaboration with parachain partners, investors, and other projects looking to build on Polkadot. Many projects also reached out to us to discuss collaboration opportunities.
So it was indeed an exciting one. Some of the teams we met were Astar, Phala, Efinity, Bifrost, Kylin, SubQuery, Gear, Nova wallet, etc.
We upgraded our UI and other backend functionalities
Even after the launch, we continued working to make the launch the best we can. We improved our UI so people can easily engage with our platform’s functionality.
We redesigned the landing page and revamped the entire app’s interface for easy navigation. We also added a leaderboard so participants can track their performances. Then we set up market makers for currency pairs, so there’s more liquidity.
We also set up some analytics and API endpoints to track users and ensure the numbers are accurate. All these to give the participants an exciting and engaging experience.
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 response to our Closed Beta launch.
Getting over 10,000 applications is no small feat, and we could not have done it without you. Although we could not accept all of you, we want to thank you for the renewed support you have shown us.
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.
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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Equilibrium: September 2022 in Review was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.
