## What Is EQD?

EQD is a USD-pegged, Polkadot-native, decentralized, asset-backed stablecoin launched by Equilibrium (a DeFi hub of DotSama). EQD can be minted against a well-diversified portfolio of assets, thereby greatly reducing a borrower’s collateral risks. 

EQD is providing high leverage on underlying collateral and improving capital efficency in DeFi thanks to innovative financial engineering on the background.

## The mechanics behind EQD

EQD is a portfolio-collateral backed stablecoin, with a 1:1 peg to USD. Incentives, risk management, and balancing of supply-demand within Equilibrium’s stablecoin protocol contribute to the EQD value pegged to the dollar. In addition, Equilibrium’s on-chain risk management system [link: https://docs.equilibrium.io/under-the-hood/risk-modeling] and bailout mechanism ensure accurate derivation of the EQD value from set parameters. This results in a stablecoin that is always overcollateralized by liquid crypto-assets.

## How Many EQD Are There in Circulation?

EQD is backed by portfolio of assets that includes DOT, ETH, USDT, USDC, Dotsama native tokens, and others. As such, its maximum theoretical supply equals overall market cap of assets accepted as collateral times average collateralization ratio. 

## Who Are the Founders of EQD?

Alex Melikhov is the founder and CEO of Equilibrium, the DeFi platform issuing EQD stablecoins. Alex is an engineer in applied mathematics by training. Before blockchain, he was working on fintech projects.

Equilibrium’s team includes 27 team members who have been working together since 2017. The engineering team is highly experienced in building on various blockchain platforms, from Ethereum to EOSIO and the Substrate framework. 
Now the team is developing on Polkadot to obtain true cross-chain interoperability and to turn Equilibrium into a full-fledged DeFi one-stop shop.

## Why is EQD unique?

EQD is implementing a novel liquidation mechanism through insurance (vs. regular DeFi auctions) that makes it extremely resilient in case of market flactuations and allows for significant lowering collateral requirements. 
As such, EQD can be a highly effective lending instrument for leveraging volatile assets users want to hold instead of selling for dollar liquidity. 

## What makes EQD secure?

EQD’s competitive advantage lies in its built-in strong peg mechanism via three layers of protection: Layer 1: Overcollateralization requirement, Layer 2: Insurance Pool to secure debt positions, Layer 3: Stability fund, backed by Equilibrium Treasury, which acts as liquidity backstops. 

## EQD supports interoperable, multi-chain use cases

EQD can be transferred seamlessly and securely via Cross-Chain Message Format (XCM) to other Polkadot parachains without the need for external bridges, thanks to Polkadot’s interoperability technology. 

EQD use cases, therefore, extend beyond Equilibrium through its extensive connections with other networks in the Polkadot ecosystem. In addition to EQD’s utility on Equilibrium as a quote currency for its orderbook DEX, EQD is adopted by other parachains as currency for various decentralized services fee payment, in-gaming transactions, as routing asset into other supported blockchains, and more.

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