Another month has come and gone, so we’re here now to look back at everything the Equilibrium and Genshiro teams achieved in August 2021. Perhaps predictably, it was a busy and productive month. Just check out these headlines below and read on for more details on each one — we’ll see you in another month for the September recap!
- Our closed beta is live!
- We established the first-ever KSM downside protection for parachain auctions.
- We revealed crowdloan bonuses for the second round of the Genshiro crowdloan.
- Huobi Pool joined us as our new validator.
- We released a number of new educational articles.
- We held our ninth community call, our CEO participated in DeFi Conference, and even got a spot on Kraken’s Parachain Auctions podcast.
Our closed beta is live!
We launched our standalone substrate. Those who participate in Genshiro’s closed beta program are the first to gain access to our cross-chain DeFi products, as well as GENS staking and mining. They will furthermore get an extra 5% APY in GENS (via liquidity farming) on their average deposit during the first three months after Genshiro launches.
If you’re not in the beta yet, the only way to get in now is to get an invitation from a friend who’s already in — every beta participant can invite up to two others to join. Try to ask for an invite in our community or follow us on Twitter and stay tuned! We are planning some further activities that will see us give away a limited amount of passes that grant access to our closed beta.
We established the first-ever KSM downside protection for parachain auctions.
It’s never been done until now: those who stake KSM in support of Genshiro to win a Kusama parachain slot will enjoy knowing that their stake is protected against negative price movement while KSM are staked during all the period of parachain lease (48 weeks). We have allocated a maximum of 10% of the total GENS supply as a hedge for our community. If KSM price should move in an undesirable direction beyond the fixed price, we will distribute this GENS to crowdloan participants, covering up to 50% of the downside.
We revealed bonuses for the second round of the Genshiro crowdloan.
The second round of Kusama parachain auctions started on September 1 and we are eager to incentivize our community to participate. We announced the latest rewards for those who want to help us win this parachain slot, the breakdown looks like this:
- 20% bonus on contributions greater than 50 KSM
- Doubled rewards for contributions made in the first round
- 3% referral bonus for Genshiro’s referral partners
- A special offer for those who contribute 500 KSM or more (please write to firstname.lastname@example.org to learn more)
Huobi Pool joined us as our new validator.
We are proud to share that Huobi Pool will work as a validator for Equilibrium/Genshiro. Our networks are getting even more reliable and unbiased! You can read the full details on our partnership with this A-list crypto company right here.
We released a number of new educational articles
If you want to know what makes Equilibrium’s DEX distinct from the rest, just check out this article, which goes into great detail on it.
We are also creating a series of articles about Polkadot and Kusama to educate our community. The first one delves into how different wallet addresses work on Polkadot and Kusama, and you can read it right here.
We held our ninth community call, our CEO participated in DeFi Conference, and even got a spot on Kraken’s Parachain Auctions podcast
We held our ninth community call on August 26 with 86 attendees. As usual, we issued a variety of updates to our community, including tech updates, the production launch of Genshiro, liquidity mining, bonuses for our Kusama crowdloan, our development in the Chinese market, and the Kusama Demo Day. Watch a replay!
Our CEO Alex Melikhov participated in DeFi Conference 2021, discussing the importance of cross-chain interoperability for DeFi and its impact on the current financial system. You can watch him here, and if you want to hear more from our main man, check out his appearance on Kraken’s Parachain Auctions podcast where Alex told about Genshiro.
There you have it: another month in the can! Thanks for your attention and consideration as we continue harnessing the full potential of the DeFi market.
Here’s What Equilibrium And Genshiro Did Last Month was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.