In a recent announcement, the MoonBean network has revealed that it will be partnering with the Equilibrium network. The partnership will allow for both parties to integrate Multichain Assets. MoonBeam is regarded as the top destination for multi-chain applications on the Polkadot network. Moonbeam wrote in its announcement blog post;
A community-approved bi-directional HRMP channel between Moonbeam and Equilibrium made it possible for GLMR, EQ token and EQD stablecoin to move between the chains and now supports bridged liquidity from outside the Polkadot eco demonstrating the potential of the Moonbeam connected contract strategy.
Very recently, an XCM connection between Moonbeam and Equilibrium was successfully established. This was done using a bi-directional HRMP channel. As a result of the integration, Equilibrium’s native tokens have now been registered as EQ and EQD stablecoin as xcEQ and xcEQD and allowed to be used on Moonbeam Network.
It is also worth noting that the GLMR token can be used on Equilibrium. Additionally, the integration of XCM is already a base point for Moonbeam Routed Liquidity (MRL). In the MRL, Moonbeam functions as a router that brings liquidity from external blockchains like Ethereum to Polkadot parachains
Equilibrium is a one-stop Substrate-based DeFi protocol parachains that runs on the Polkadot network. The protocol aims to bridge the gap between the high-leverage money market, and an order book decentralized exchange (DEX), with margin trading.
Equilibrium permits high leverage in trading, along with borrowing digital assets. The platform also combines a money market with an offer book-based DEX. Meanwhile, EQ is a native utility token that is being utilized for the communal governance of the Equilibrium platform.
The benefits of Equilibrium are a handful. The platform offers on-chain price discovery along with -wide insurance. This is fine by allowing for participants to separate and transfer volatility risk and price event risk from borrowed to insurers. The platform further recognized that access to Ethereum and other non-sustainable based assets is extremely important for scaling and stability to take place.
Moonbeam is a leading smart contract platform that serves a very specific and significant market. Using MoonBeam, building cross-chain connected applications that can access users, services, and assets on any chain, can be done with ease.
MoonBeam is also tackling one of the biggest user experience issues plaguing different platforms. With the uniting of functionality from the links of Cosmos,
Ethereum, Polkadot, and many more into one platform, Moonbeam ends up tackling major fragmented user experience problems. The platform opens the doors to true interoperability and paved the way for the next generation of applications
