Equilibrians, around five days have passed since our official beta launch and we already have some interesting statistics to share with you.
More than 5000 unique participants from 23 community teams are trying to maximize their portfolios by competing for the $40,000 EQ rewards in the Equilibrium Closed Beta! Join other participants in viewing the impressive Closed Beta statistics on the EQD stablecoin page
Users generated ~7.65M EQD and burnt 4.43M EQD in less than 5 days. The fascinating aspect is the burning, which refers to intraday trading on the DEX. Buying an asset long is the same as minting some EQD while closing out a long position and clearing debt with EQD is similar to burning EQD. Looks like around 60% of DEX volume is generated intraday! Below is an hourly breakdown of the EQD mint and burn intensity for the past 5 days:
Day1: EQD minted: 1128449.24 EQD burned: -532430.97
Day2: EQD minted: 2120001.02 EQD burned: -909277.44
Day3: EQD minted: 1849625.85 EQD burned: -1173285.79
Day4: EQD minted: 1320010.83 EQD burned: -975948.07
Day5: EQD minted: 1236573.76 EQD burned: -834436.84
Shifting to the asset trading volume cumulative numbers since the beta launch, BTC is at the top, followed by GLMR — nice to see an active parachain token traded!
Here are the top 10 earners (insurers) and payers (borrowers) by EQD for the past 5 days of beta platform activity.
Insurers make more than borrowers pay on average as they appear to be fewer. The top insurer made around 34 USD (~4000 EQ) in less than 5 days, which is encouraging, considering the max portfolio he could use is $25,000, resulting in an effective interest rate of at least ~ 10% APR.
Finally, check our beta contest leaderboard to see the team and individual ratings.
is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an orderbook-based DEX. is the native utility token that is used for communal governance of Equilibrium. is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
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