AMA Equalizer & Polygon Recap
Equalizer has recently held an AMA in the Polygon community and we were happy to see how much interest Flash Loans generate among the members of our communities!
Let’s take a look at the recap of the conversation:
Users: Please tell us more about the product and its features, how does it stand out in the market?
Team: Equalizer offers the most efficient Flash Loans in terms of gas, it can offer flash loans for any token on any chain. So far, we are already operational on three major blockchains, Ethereum, Binance Smart Chain, and Polygon, having the goal to deploy on all major chains in the market.
Equalizer is attractive for professional Flash Loans users because of low fees, optimized smart contracts gas cost, and the possibility to offer Flash Loans on many chains for a wide range of tokens.
For Liquidity providers, Equalizer is interesting due to its attractive rewarding system, which assumes limited seats for every vault, unique NFT-based yield farming, and security. Equalizer was designed by the highest security standards, it is security audited and constantly monitored by independent auditors.
Users: Building such a product takes a lot of time and effort so, in the Journey so far what are the achievements & challenges in terms of partnerships, community, and development?
Team: We’ve spent a huge amount of effort to design, develop and deploy the platform in its alpha version. So far all the features are stable, well implemented, and having the security audit passed. Our smart contracts are audited by top auditor Certik.
We’ve built strong partnerships with technology leaders providers like Chainlink, Polygon, and others to make sure our platform is reliable, secure, and built to last.
In terms of community, we are grateful to rely on a supportive community that always comes with great ideas and improvements, supporting us in our journey to equalize the decentralized markets.
The next challenge is to increase the usage of the platform and to start generating significant flash loan volumes on all the chains we are deployed on.
Users: If I were to research your project and make my decision, what would you say are your strong points, why should I invest in your project?
Team: DeFi and Flash Loans are one of the most innovative and fastest-growing markets. Flash Loans have totally changed the nature of lending and borrowing and opened unlimited opportunities for arbitrageurs and traders. Never before could you borrow money without any collateral and with zero risk.
Although there are other competitors in the DeFi space, at Equalizer, Flash Loans take center stage and the platform is expanding on multiple blockchains.
People buy not only the project but also the team behind the project. Equalizer is made up of experienced professionals, true believers in the innovation brought by blockchain, and who put passion into their work.
Perhaps the most popular use of Flash Loans is to try and make a profit to take advantage of small arbitrage discrepancies in different types of crypto across various exchanges.
The process is simple: ask for a Flash Loan, use it for any profitable operation you might spot out, pay the flash loan back and collect your profit. As these operations are executed with the help of scripts and bots, you will need coding skills to program the strategy and to deploy the smart contract.
Users: But are these Flash loans secure?
Team: Flash loans have become popular because they give its users the ability to arbitrage and trade in ways that weren’t possible before. There are 2 types of security you can think about, the possibility of the borrower to run away with funds and the possibility of platform any human-related bugs. For the borrower to run away with funds is not possible as this is secured by the security of the blockchain itself (everything happens atomic so all conditions need to be met at the same time, including returning of the funds), for the other thing, we have audits for all our smart contracts, they are all public on our documentation, I invite everyone to read them.
Users: What would you recommend to beginners who want to learn about flash loans?
Team: We are hosting a top-notch Equalizer academy where we are educating, learning, and sharing experience. Everyone who wants to learn or improve his/her knowledge is very welcome!
We are covering a wide range of topics, from the basics of software development, arbitrage strategies, to smart contract design. All for free :)
Users: What are your plans for the future, what should the community look out for? What can we expect from you guys in the future?
We are working hard to bootstrap the usage on the platform, we are in touch with professional traders that are working on integrating their tools with the Equalizer platform. So we believe it’s just a matter of time until the usage will increase and the platform will start becoming attractive for big players.
We’ve launched in parallel the Academy initiative to support our community to collaborate and to enhance their skills in order to use the features made available by the platform.
We are committed to our plan and we’ve also started internal R&D initiatives to evaluate new flash loan use cases or to enhance the current ones.
Users: How well is EQZ funded? Does Equalizer have enough funds to develop the platform even if we enter a bear market?
Yes, we have enough energy and determination to continue the project even in a bear market.
Users: What is the liquidation mechanism of Equalizer Finance?
Team: We don’t provide a liquidation mechanism, we limit ourselves to providing the best Flash Loan service in the market.
The traders/developers have the freedom to build the liquidation mechanism they need.
Users: Audit is important for both trust and security. Have you done any audit of smart contracts?
Team: Yes, all our smart contracts are security audited. Reports can be found in our documentation.
Users: How to make up for Flash Loans during the market crash?
Team: The higher the volatility, the more arbitrage opportunities and liquidation opportunities will be on the market. Both are use cases for flash loans.
Users: Can you tell us more about your potential users? Are these mainly market makers or individual traders?
Team: The users of the platform are different traders that want to take advantage of arbitrage opportunities, liquidations, collateral swapping. Even if it is hard to profit from these opportunities, they are out there, and with the right dedication, you can learn, evolve and sophisticate the use of Flash Loans across the chains.
Users: How to prevent Flash Loans attacks?
Team: We have limited the capacity for our vaults, in order for our Flash Loans not to be used in attacks or exploits. For regular arbitrage and liquidation, you don’t need a big Flash Loan.
Users: On which milestone from the roadmap for 2022 you’re working with right now? Is there any preference?
Can you give us any hints on upcoming major news?
When do you plan to launch the final version of the new website?
Team: Regarding the website, we’re working on a continuous iteration for it so we’re pushing updates on a weekly basis. As for the roadmap, we don’t have any particular preference, we work on it in parallel but expanding as the title of the roadmap indicates.
Users: Do you know when you can expect to have some new listings on new exchanges?
Team: We don’t focus on listing right now. There are listing conditions that we don’t meet at this time. We focus firstly on increasing the usage and reaching the requirements, the listing will come naturally after that.
Users: How do I reach out to legitimate support?
Team: You can join our Discord channel for support! https://discord.gg/aZx8H6zqer
Users: What other instruments are there like Flash Loans that you’d like to work on?
Team: For the time being we focus on Flash Loans and in parallel we are exploring additional features that can lead to the increase of the Flash Loan volume.
We would like to thank Polygon for hosting this AMA in their community, it was a real pleasure for Equalizer to see so much interest in Flash Loans and answer all the questions!
We appreciate your participation and really love when you share your thoughts:
Equalizer is the first dedicated flash loan marketplace built on top of a scalable infrastructure that can handle the rising demand of decentralized lending and borrowing and that can boost the trading volume of any listed asset. It offers top benefits over the popular do-it-all DeFi protocols and sets itself a class apart by offering lower fees, a virtually unlimited choice of token vaults, high liquidity through yield farming, and multi-chain capabilities.