Things are heating up in the decentralized finance space (DeFi) and Equilibrium’s EOSDT stablecoin is leading the charge on EOS! Remember when paying online with a credit card was considered something risky that only early adopters would do? It didn’t take very long for that to change. The same thing is happening right now with DeFi. More and more people are getting comfortable with the idea of automated finance on the blockchain and DeFi volume is growing steadily. On-chain evidence of this trend was observed on EOS this week when Equilibrium posted a monster ~3x surge in 24h trading volume on NewDex!

Equilibrium allows users to deposit EOS to its smart-contract in order to mint EOSDT stablecoin in exchange. The voting rights of the 4M+ EOS currently locked up in the Equilibrium smart-contract is controlled by the Equilibrium governance token called NUT. The voting rights were initially allocated based on an off-chain voting competition, which was then replaced with an on-chain voting mechanism using the NUT token. The voting system will evolve again on November 2nd, bringing improvements such as voting for more Block Producers as well as eliminating the recurring voting periods.

Equilibrium is also planning their first annual “Crypto DeFiance” event to be held on November 16th in Singapore. This event is attracting big names in the decentralized finance (DeFi) space from both EOS and the wider blockchain community! It’s going to be the place to meet and network with leaders in the blockchain space while discussing hot DeFi topics!

Although Equilibrium’s EOSDT has the most liquidity of any DeFi project currently running on EOS, it’s not the only player in the game. Many people are attracted to the high performance of EOS, which allows for a smooth and enjoyable DeFi user experience when combined with its developer friendly framework. One such example is the Acueos platform, which was deployed on EOS on October 9th. Through smart-contracts, Acueos allows users to:

earn interest on assets lent

deposit assets to be used as collateral

borrow assets against collateral

On top of EOS and CUSD, the platform has recently added EOSDT to the list of available cryptoassets and plans to continue to list more cryptoassets in the future. We encourage you to try out these platforms and features and what better way to do it than with some EOSDT earned by staking to our proxy?

Having spent some quality time with the Equilibrium team in Rio, Brazil during the EOS Community Conference, we’re happy to be able to bring more attention to the initiatives of such a strong team working hard to enable new DeFi use-cases on EOS. As a show of support and to encourage wider adoption, we’ve modified our default proxy rewards portfolio to 90% EOS and 10% EOSDT. Proxy4Nation now supports four different assets (EOS, DAPP, USDT, and EOSDT) and users can easily adjust their rewards to a custom distribution of their choosing. Visit our blog at eosnation.io/blog for a tutorial on how to customize your proxy rewards.

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