Polkadot-Based Equilibrium Raises $8.5M in DOT With PLO Drive

[EAA-ALLAH]

Equilibrium is looking towards its two-phase parachain lease offering (PLO) system for fundraising. Equilibrium will use the PLO to gain a Polkadot (DOT) parachain slot, but only once they acquire a minimum of 1 million DOT ($37 million, at press time).
The decentralized finance protocol (DeFi) closed a Series A funding round worth $2.5 million, with participation from some big names in the industry, in early April, and have their eyes fixed on phase two.
Equilibrium received 250,000 DOT hardcap in three days of the exchange and had over 1,500 angel investors, as well as involvement from venture capital funds, such as CMS Holdings, LD Capital, and Signum Capital. Source