Freewallet announced integrations for Equilibrium’s Native Utility Token (NUT) and EOSDT stablecoin to Freewallet: Crypto Wallet.
Equilibrium is a compelling framework of smart contracts that over-collateralizes a user’s liquid digital assets and issues price-stable cryptocurrency in return. Its EOSDT stablecoin is pegged to the US dollar, letting users transact as they see fit within a new paradigm of steady, predictable value. EOSDT’s main feature is the collateralization of a user’s liquid digital assets.
Stability mechanisms are hard-coded into Equilibrium’s smart contracts. Because 1 EOSDT always equals $1 USD, users enjoy access to a highly transactable cryptocurrency free of volatility.
EOSDT also offers a variety of applications, like hedging market risks, providing fiat-like quotes for currency pairs on crypto exchanges, and making online payments with merchants that accept cryptocurrency — all of which is now available to Freewallet users.
NUT is the framework’s utility token and cross-chain-compatible utility currency. It plays a role in every step of Equilibrium’s governance and management processes: if a user wants to make changes to the parameters that drive the framework, they spend NUT to submit a proposal for the community to vote on.
These digital assets are now readily available to Freewallet users, and they’ll be in good company: Freewallet already supports more than 30 stablecoins and cryptocurrencies like Bitcoin, Ethereum, Litecoin, USDT, TUSD, and DAI. EOSDT happens to be the first coin native to the EOS blockchain to get this support.
This Freewallet integration brings new freedom to Equilibrium users, who now have the ability to instantly transfer NUT and EOSDT within the network for zero fees. As security is a top priority for Freewallet, user transactions are protected by two-factor authentication (2FA), multisignature, and cold storage. EOSDT and NUT stablecoins will furthermore soon be added to a built-in exchange, so users don’t have to leave the wallet to exchange them for other supported coins or fiat.
Freewallet develops crypto wallets for iOS and Android devices, as well as for the web. Its products include built-in exchanges, and can store Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, Bytecoin, as well as over 150 more cryptocurrencies. Their mission is to develop apps that let users familiarize themselves with popular cryptocurrencies without needing to delve into niche technical details. In 2018, Freewallet was listed as the third most popular online wallet for Android.