Cross-chain lending protocol Equilibrium is reportedly looking to finalize the integration of its U.S.-dollar-pegged stablecoin with Moonbeam. 

Specifically, DeFi projects designed across Moonbeam – a Polkadot project for creating blockchain similar to Ethereum – will reportedly have the power to utilize Equilibrium’s stablecoin, like they have a native nature to the blockchain. 

This reportedly covers decentralized exchanges, single-purpose lending protocols and other DeFi building blocks.

Moonbeam can reportedly be perceived as the “Ethereum on Polkadot” project, employing the similar smart contract environment appeared in Ethereum, which comes with an Ethereum Virtual Machine and making the similar convention available for accounts and wallets.

As a result, Moonbeam reportedly offers facilitating features for Solidity smart contracts, as well as enabling porting for developers and users’ projects and wallets with little adjustments involved. 

Moonbeam is reportedly also a parachain – what is translated into a shard for Polkadot. This will reportedly establish connection for parachains with Moonbeam at the lowest effort needed, with the help from cross-parachain communication enabled by Polkadot’s relay chain – similar to the Ethereum 2.0 Beacon Chain.

Equilibrium will reportedly utilize the connection to make its token available across the Ethereum-enabled environment.

The Ether-powered DeFi protocols are reportedly expected to port their projects to Moonbeam, consequently hooking Equilibrium up to a larger DeFi ecosystem.