2020 has been a shitshow, but we are back with some amazing news to make it just a little bit better. We are removing USDE from the Equilibria roadmap and shifting our focus towards creating a private and decentralized oracle solution for a multitude of use cases.
We are already prepared for two use cases that are relatively easy to add to our oracle solution and give value to the Equilibria network; digital asset price tracking and distributed match results in eSports events. We will be monetizing the network through the participation of eSports event wagers.
How it Works:
Equilibria adds transparency to the eSport match betting scene — something the space has needed for years. A user can create a wager for an eSport match by paying a small fee. This person does not speculate on who wins or loses, just creates the wager. In return for opening up a wager, they will get a small % of the wage pool at the end of the match. Anyone can see this match and is able to take a bet on either side. This transaction is completely through the Equilibria chain. Once the match is complete, the wagers who win will have their winning coins in their wallet. Oracle nodes are also given a small fee of the % wage pool.
Since the old pre-mine has been sold off, we will be creating a new pre-mine for the new project. The total pre-mine will amount to 7M XEQ in order to pay for expenses in the early stages of the project. Some of the new premine will be used for running oracle nodes to kickstart the Equilibria oracle network. Lastly, we will be subtracting 10M XEQ from the max supply to help accommodate for the new pre-mine.
What is next?
First is getting the network backup and running. Then a rebase to the current Monero code will be published. After the rebase, we will expand, test, and finalize the asset price tracking. During all of this time, the eSports wager will be worked on. If you have any questions, reach out into the discord below and Harrison will be able to answer any questions.