Posted: January 5, 2024 9:44 AM Updated: January 5, 2024 9:50 AM
briefly
Equilibrium, the Polkadot-based decentralized finance powerhouse that operates Polkadot’s only native decentralized stablecoin called EQD, is proud to announce the launch of the new Q token economics.
Lisbon, Portugal, January 5, 2024
Equilibrium, the Polkadot-based decentralized finance powerhouse that operates Polkadot’s only native decentralized stablecoin called EQD, proudly announces the launch of the new Q token economics, signaling a strategic evolution of the project’s trajectory. This innovative change opens the door to a dynamic ecosystem governed by Q Tokens, moving away from the existing EQ Tokens.
Key highlights of Q Tokeneconomics launch
- Start date: January 2, 2024
- Transition period: January 2 – January 16, 2024
- Assets accepted for swap: EQ, DOT
swap rate
- 1Q = 500EQ
- 1Q = 0.001 DOT + 300 EQ
- Vesting period: 90 days cliff + 270 days vesting
The launch of Q Tokenomics reflects Equilibrium’s strategic focus on Polkadot’s Liquid Staked Derivatives and the recent establishment of EQ.finance, a prominent liquid DOT hub. The core of EQ.finance is EQD, the first decentralized interest-bearing stablecoin in the Polkadot ecosystem. Enabled tokenomics promises enhanced liquidity incentives for EQD users and strategic collaboration with liquid staking service providers.
The Qnomics framework limits the supply of 120 million Q tokens, subject to a lock-up period of up to three years. Designed around the EQD mechanism and liquidity incentives, Q token holders can benefit from an extensive staking environment through the staking Q Pool, ready to capture a significant portion of the protocol’s revenue stream. For more insights into Qnomics, you can read more in our latest article here.
This pivotal decision to embrace Q token economics was made collectively by Equilibrium’s engaged community in the #7 referendum in December 2023. A majority of 52% of participants expressed support for the Tokenomics Amendment through decentralized voting. This is a testament to Equilibrium’s commitment to community focus. rule. Detailed referendum results can be found on Equilibrium’s governance portal.
In particular, the token swap extends to the GENS token from Genshiro, an Equilibrium sister project on the Kusama network. GENS holders can participate in the swap at a rate of 4,000 GENS per 1Q, and the lock-up period is extended to 180-day cliff + 360-day vesting.
About EQ.finance
EQ.finance is the premier liquid DOT hub in the Polkadot ecosystem, enabling users to leverage a variety of DOT derivatives for EQD stablecoin creation. EQD, the first decentralized interest-based stablecoin in the Polkadot ecosystem, brings a new dimension to DeFi by collateralizing a diverse basket of assets.
For more information and updates, join our Discord, news channel and EQ.finance. TwitterMedia, Website, GitHub
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.