The Equilibrium parachain lost its Polkadot slot lease in February 2023 and stopped producing blocks. This proposal will close HRMP channels to and from the (non-existent) Equilibrium chain.
Educational sidenote: since XCM uses reserves on each parachain instead of actually moving tokens between chains, you can look at the sibling account on Bifrost for any other chain to see the total funds moved from Bifrost into that other chain.
You can find a chain's sibling acct address by 1) Look at subscan's "Hot Channels" list to get each parachain's ID 2) Use Shawn Tabrizi's "Substrate Utilities" to convert parachain ID into Sibling acct and 3) look at that address on Subscan.
Equilibrium sibling acct on Bifrost: https://bifrost.subscan.io/account/5Eg2fntLDxSsJAuwHC7GpsPcPCW1NidnVuuueRNigVuRwREd
contains 2.99 BNC and 5,945.484 VDOT. Ideally
Motivations to close these XCM channels: