Equirectangular is the standard projection used in 360 video.
A common example of equirectangular projection is a standard world map, which maps the surface of the world (a sphere) onto orthogonal coordinates.
An interactive VR player will typically map this video back onto a sphere, and setup a virtual camera at the center of the sphere, which is rendered in the VR player display port (screen, headset, ...).
This is the exactly the type of video live broadcast by Vahana VR. It can be post-processed with VideoStitch Studio.