Balance point
Equilibrium has launched a brand new coin management known as EQ. The company has only continued on the Polkadot live platform for the past few weeks. EQ has been touted as the second edition of Equilibrium's NUT. The latter is a management token designed only for the EOS environment. However, changes have been made to ensure that EQ is compatible with all available blockchains.
A Careful Observation of the New Standard Equilibrium Token
At this stage, NUT will be an acceptable method of working with open source Equilibrium methods. However, if you want to test EQ, there is a window window for you to test it. Individuals can exchange their NUT token for EQ between August 31st and September 29th.
They will be allowed to play on the new system. Equilibrium CEO Alex Melikov shares how Polkadot has had a positive impact on their company. He said it led to openource stablecoins and cross-chain integrated debt instruments, among other new opportunities. Adding that DEX features allows users to trade Bitcoin, Ethereum, as well as others for a variety of DeFi options.
The Rise in Defi Has Heralded A New Spike For Equilibrium Growth
Melikhov continues to share how interest in DeFi applications has led to large volumes of interest in its stablecoin. Stablecoin for Equilibrium, EOSDT had a daily trading volume of more than $ 10 million USD. However, he said the real capacity for DeFi was not achieved. Moreover, he added on how offerings similar to Equilibrium’s EQ, which is compatible across the blockchain will bring further growth.
Equilibrium states how 25% of NUT’s total supply is eligible for the replacement period. This means that 120 000 000 NUT tokens can be exchanged for EQ.
XRP Classification Recorded
US Representative Tom Emmer States Does Not Classify XRP As A Security
August 20 saw congressman Tom Emmer host the very first Cryptocurrency Town Hall. This event brought together many fintech industry leaders, including Ripple CEO Brad Garlinghouse. BitPay CEO Stephen Pair was also present and leaders of companies such as Circle, Paxos, and eToro.
Garlinghouse opened up by sharing how Ripple’s main obstacle was uncertainty over what XRP classified. Confusion over how the Securities and Exchange Commission or SEC defined either BTC or any sign has become severe. This has led to more court cases in the past. However, the SEC has not yet issued a final decision.
Emmer emphatically says XRP is not a security. In addition, he stated that the regulatory body could harm the economy by hurting new developments. However, Emmer is not alone, former Commission Chairman Chris Chaincarlo said XRP has no features of a security.
Emmer announced how his personal campaign will receive the funds made in cryptocurrency. He previously shared how he felt cryptocurrency would be just more important post lockdown.
