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DeFi Sunday: The Equilibrium project receives new funding on the Polkadot network

Equilibrium receives a $ 2.5 million financial injection on the Polkadot network. This means significant support and acceleration of the whole project. It is an ideal opportunity for Equilibrium to become one of the 100 parachains on Polkadot.

Investors and EQ tokens

Equilibrium CEO Alex Melikhov has announced new investors who have purchased EQ tokens. Among the many others, you can find names such as CMS Holdings, KR1, Genesis Block Ventures, Signum Capital. Does that mean Equilibrium will quite possibly be one of the parachains on Polkadot?

Current numbers

Alex Melikhov announced that Equilibrium's current market capitalization is around $ 320 million . If Equilibrium manages to win a slot on the Polkadot network, its price could easily skyrocket.

Equilibrium's DOT/EQ token swap Figure 1: Equilibrium's token swap announcement (source: Equilibrium Twitter account)

Slot acquisition on the Polkadot network

According to Equilibrium's analysis, about 1 million DOT coins will be needed to obtain a slot on the Polkadot network. That amount of coins equals about $ 40 million . And it is the aforementioned investors who are expected to invest this sum of money in order for the project to acquire one of the 100 slots.

Equilibrium

Equilibrium company is developing a decentralized interoperable market, which will have a large number of options and functions. Top analysts, developers, economists, and financial strategists such as Kyle Ellicott, Pablo Gabril, Yves Renno, Eric Wang, and others work on the project. Together, this team of people represents a huge knowledge base of the blockchain and financial sector, topped up with excellent marketing. In the most optimistic view, Equilibrium is to be the number "1" in the DeFi world. As such, this ambitious project should have options like offering loans, borrowing, having maximum liquidity, or bridging loan processes across other cryptocurrencies.

equilibrium logo Figure 2: Equilibrium logo

Conclusion

Equilibrium itself is an ambitious project backed by a professional team with top knowledge of blockchain and the financial sector which is an excellent basis for the success of this company. A huge number of investors are aware of this, which is why Equilibrium is a hot candidate in the race to win one of the 100 slots on the Polkadot network. Investing in an EQ token can ultimately be an interesting option.

Jakub is a crypto trader and founder of Trader 2.0 project, which helps hundreds of traders from central Europe to understand cryptocurrency trading and its challenges. Jakub not o...

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