Astar Network Collaborates with Equilibrium to Initiate Latest HRMP Channels

Please fol­low and like us:
Pin Share

Dur­ing the blockchain sector’s his­to­ry, mul­ti-chain appli­ca­tions and inter­op­er­abil­i­ty are cat­e­go­rized as the most cru­cial points of Web3’s offer­ings. With Polkadot’s ecosys­tem con­tain­ing cross-con­sen­sus mes­sag­ing (XCM) and parachains, Astar acquires mul­ti-chain assets. How­ev­er, they can take ben­e­fit from func­tion­al inter­op­er­abil­i­ty. The net­work assert­ed that this is the chief cru­cial point for them to cre­ate the upcom­ing gen­er­a­tion of exclu­sive decen­tral­ized appli­ca­tions and take the Web3 world to new heights.

Aster Network and Equilibrium Collaborate for Unique HRMP Channels between the Platforms

Astar Net­work men­tioned that by col­lab­o­rat­ing with Equi­lib­ri­um to open HRMP chan­nels, they are com­menc­ing a unique chap­ter toward ful­fill­ing their objec­tive. The plat­form is of the view that by start­ing addi­tion­al chan­nels on its net­work, they are ready­ing to restart the “ink con­tracts”. Along with this, they will start cre­at­ing new ways to ben­e­fit the resilient XCM for­mat offered by Polkadot.

Astar men­tioned that the Wasm builders oper­at­ing on the net­work have exclu­sive pos­si­bil­i­ties because of Equilibrium’s expand­ing pack­age of prod­ucts. These ser­vices take into account cross-chain mar­kets, liq­ue­fied xDOT crowd­loans, and lending/borrowing facil­i­ties. Astar will intro­duce a cou­ple of new assets named EQ and EQD. EQ is con­sid­ered a strong token struc­tured to be uti­lized through­out the ecosys­tem of Equi­lib­ri­um. It has been inte­grat­ed into Sub­Wal­let as well as the oth­er lead­ing infra­struc­ture groups.

Astar to Launch Liquidity Mining Projects and EQ Governance This Quarter

The Astar Net­work dis­closed that it will release gov­er­nance for the EQ token and the lat­est liq­uid­i­ty min­ing projects in the cur­rent quar­ter. The oth­er token named “EQD” is also Polka­dot-native but it is a sta­ble­coin pegged into USD. The sta­ble­coin oper­ates on Equi­lib­ri­um. The respec­tive sta­ble­coin is over­col­lat­er­al­ized. It is mint­ed against sev­er­al assets run­ning on the plat­form of Equilibrium.

Those hold­ing EQD can now uti­lize the respec­tive asset with DeFi-cen­tered projects offered in the ecosys­tem of Astar. EQD per­mits the hold­ers to con­struct a port­fo­lio to hedge against an unsta­ble mar­ket while keep­ing on tak­ing part in DeFi-relat­ed activ­i­ties. Hoon Kim, the CTO of Astar, not­ed down a broad view of the platform’s vision relat­ed to XCM.

This vision pro­vides a remark­able begin­ning, as per Astar. Equi­lib­ri­um is an all-inclu­sive DeFi forum based on Polka­dot. It per­mits the bor­row­ing and trad­ing of dig­i­tal assets with high lever­age. EQ is the local util­i­ty token of Equi­lib­ri­um and is uti­lized for Equilibrium’s com­mu­nal governance.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *