Equilibrium, an EOS-based DeFi project, plans to develop a new interoperability protocol on Polkadot

According to Cointelegraph, the EOS-based decentralized financial project Equilibrium announced that it plans to develop a new interoperability protocol on the Polkadot (DOT) blockchain. The project aims to develop an independent parachain connected to Polkadot and launch an independent utility token called EQ, which serves as both a token for payment of transaction fees and a token for protocol management. In addition to the lending protocol that supports the new interoperable stablecoin, it will also allow broad borrowing of any asset, similar to platforms like Compound and Aave. In addition, decentralized exchanges and integrated asset platforms are also under project planning.