Equilibrium to Become Polkadot's (DOT) 12th Parachain
It took Equilibrium roughly two years ‘to become a meaningful part of the ecosystem since the project released [its] whitepaper and started developments on the Substrate framework in February 2020’.
Parachains are special shards on the Polkadot network that allow respective projects and their communities to have a sense of ‘control’ over their goals. Parachain slots are limited and auctioned off through a candle auction depending on the amount of DOT staked/reserved to win them.
According to the team at Equilibrium, its community supported the journey to win a parachain auction through a crowdloan campaign.
The CEO and Founder of Equilibrium, Alex Melikhov, also added that Equilibrium will soon be launching the first order-book DEX on Polkadot with margin trading. He said:
We’ve been extensively building during the past few years and this time has come: very soon we will be launching the first orderbook DEX with margin trading on Polkadot. It will allow for trading with high leverage being combined with a money market that applies the lowest collateral requirements ever. We are sure that these innovations will drive liquidity to the ecosystem and attract advanced market makers along with retail investors
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