It costs a lot to swap assets on Ethereum. That's why Equilibrium is building a cross-chain version of Curve Finance on Polkadot.
Binance and eosfinex are joining the oversight team for Equilibrium, the decentralized finance group behind the EOSDT stablecoin.
Phase one for the project reached its 250,000 DOT token hard cap. Phase two is looking to net the remaining 750,000 DOT required to land a parachain.
Equilibrium will hold 6.5 million EOS tokens in reserve as an insurance policy for users should its stablecoin lose its peg.