• Moonbeam and Equilibrium have announced a partnership that allows for the integration of multichain assets.
• This integration has enabled the use of GLMR, EQ token and EQD stablecoin on both networks.
• The partnership also opens up opportunities for connected contracts and provides benefits such as on-chain price discovery, system-wide insurance, bridged liquidity from outside the Polkadot ecosystem, and high leverage trading.
Moonbeam & Equilibrium Partnership
MoonBeam and Equilibrium have announced a major partnership tailored towards the integration of multichain assets. The partnership opens the doors to a large number of benefits while playing a huge role in expanding the possibilities for connected contracts. A bi-directional HRMP channel between Moonbeam and Equilibrium has made it possible for GLMR, EQ token and EQD stablecoin to move between the chains and now support bridged liquidity from outside the Polkadot ecosystem demonstrating the potential of the Moonbeam connected contract strategy.
Benefits For Connected Contracts
The bridge between Moonbeam and Equilibrium will allow for both parties to integrate Multichain Assets. Very recently, an XCM connection between Moonbeam and Equilibrium was successfully established using this bi-directional HRMP channel. As a result of this integration, Equilibrium’s native tokens have now been registered as EQ and EQD stablecoin as xcEQ and xcEQD allowing them to be used on Moonbeam Network. It is also worth noting that GLMR can be used on Equilibrium too. Additionally, this integration acts as a base point for Moonbeam Routed Liquidity (MRL). In MRL, Moonbeam functions as a router bringing liquidity from external blockchains like Ethereum to Polkadot parachains.
Equilibriums is regarded as one stop Substrate based DeFi protocol running on Polkadot network which bridges gap between high leverage money market & order book decentralized exchange with margin trading facility along with borrowing digital asset features along side its native utility token (EQ) utilized in communal governance of equilibrium platform offering on chain price discovery along system wide insurance & bridged liquidity from outside polkadot ecosystem & high leveraged trading facility followed by other mentioned features in article above .
Consequences Of The Move
The consequence of this move is that it will open up many more opportunities for developers in terms of creating connected contracts across different networks. This could lead to further innovation within decentralized finance applications which are powered by these two platforms combined together with other blockchain networks such as Ethereum or Bitcoin Cash amongst others potentially integrated into their ecosystems via cross-chain bridges too .
In conclusion, this partnership marks an important development within both projects that should not go unnoticed given how much potential lies ahead when multiple networks can interact with one another seamlessly without having to worry about compatibility issues or interoperability problems associated with integrating different protocols into existing software applications .