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xDOT Transfers & Use Cases: How to Bridge xDOT from Genshiro to Equilibrium
xDOT is a DOT wrapper on Equilibrium’s canary network on Kusama, known as Genshiro. It allows users to stake their DOT for their favourite Polkadot parachain and receive xDOT in return.
Equilibrium offers various use cases for xDOT, such as collateral to mint EQD or borrow assets from lenders in the lending pool. Depositing xDOT into the insurance or lending pool allows users to use it as collateral to produce EQD or borrow assets from lenders.
With the active Equilibrium-Genshiro bridge, users can transfer xDOT from Genshiro to Equilibrium and access a broader range of DeFi products and services, all while earning high farming rewards and bonuses.
Read more: https://medium.com/equilibrium-eosdt/xdot-transfers-use-cases-how-to-bridge-xdot-from-genshiro-to-equilibrium-ee6a037a4d7c
🔍 Find out more about Equilibrium here
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