Equilibrium launched a new token today. How can you buy it?

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Equilibrium launched new token today. How can you buy it?

Equilibrium is a relatively project, claiming to include the functionality of all key DeFi apps on one platform. It also has an advanced bailout mechanism for system security. According to the company, users can lend all main crypto assets, borrow EQ tokens, trade stablecoins or synthetics, and even stake EQ tokens.

Equilibrium began building up its Polkadot-based interoperable money market several months ago, and now it has put in motion a Parachain Lease Offering (PLO). The company has several achievements under its belt already. It released its core business logic on the public testnet, held a token generation event, and won the Web3 Foundation’s grant for its efforts.

Claiming to be one of the best-prepared projects on Polkadot, Equilibrium released some details about its fundraising strategy. According to the company, it will take at least 1 million DOT to secure a Polkadot parachain slot. To achieve this goal, Equilibrium planned the PLO’s dates carefully.

Users registering for the whitelist will get a 1% bonus in EQ. This bonus is in thanks to their contributions to the PLO made from blockchain addresses. All whitelist subscribers will receive referral links as well. They can share the link to earn bonuses for other users they recruit for the PLO.

PLO (Parachain Lease Offering) will continue from April 12, 2021, to April 25, 2021. A total of 12,000,000 EQ is for sale, and the ICO price is $2.4 per token.

How does the two-phase Parachain Lease Offering strategy work?

The company plans to raise DOT to secure parachain slots in two consecutive phases. According to Equilibrium, Phase 1 is a token swap, while Phase 2 is the crowdloan.

Users will swap their DOT tokens for the company’s EQ tokens during Phase 1. On the other hand, the crowdloan will see customers contribute DOT directly to the crowdloan module on the Polkadot Relay Chain. They will also receive staking interest in EQ tokens during the parachain lease period.

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