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Polkadot Breaks Barriers: Multichain Assets Enabled, Expanding Contract Possibilities

Posted on 23. Mai 2023 in Allgemein

• MoonBeam and Equilibrium have announced a partnership to integrate Multichain Assets.
• This will open up a number of benefits, as well as expanding the possibilities for connected contracts.
• Equilibrium is a Substrate-based DeFi protocol parachains that runs on the Polkadot network with an EQ token used for governance.

Moonbeam & Equilibrium Partner to Integrate Multichain Assets

MoonBeam has announced that it will be partnering with the Equilibrium network to enable integration of Multichain Assets. This bi-directional HRMP channel between Moonbeam and Equilibrium allows GLMR, EQ token and EQD stablecoin to move between the chains using XCM technology, creating bridged liquidity from outside the Polkadot ecosystem.

Benefits of Integration

The partnership provides a number of benefits such as on-chain price discovery along with system-wide insurance, allowing high leverage in trading, along with borrowing digital assets which is combined in a money market and an offer book-based DEX. The native utility token EQ is used for governance of the Equilibrium platform.

Moonbeam Network

Moonbeam is regarded as one of the top destination for multi-chain applications on Polkadot network, providing users access to programs like smart contracts, decentralized finance (DeFi) protocols, oracles and more while remaining interoperable across other blockchains like Ethereum.

Equilibirum Platform

Equilibrium is a Substrate based DeFi Protocol Parachains running on Polkadot network which bridges gap between high leverage money market and order book decentralized exchange (DEX) with margin trading capabilities by combining both money market and offer book based DEXs together.

Connected Contracts Strategy

This collaboration demonstrates potentials of Moonbeam’s Connected Contract strategy which uses XCM technology to route liquidity from external blockchains into Polkadot parachains bringing wide range use cases like cross chain asset swaps or bridge tokens or even multidimensional applications built around those technologies.