EOS cryptocurrency lending rates
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EOS is the native token of the EOS.IO blockchain, a high-speed smart contract platform.
EOS.IO is a high-throughput platform that works with a delegated Proof-of-Stake (dPoS) consensus algorithm. dPoS systems typically perform more transactions per second than proof-of-work (PoW) chains like Ethereum, as only a handful of trusted nodes process transactions.
This is more efficient than using thousands of nodes to process transactions, but it also compromises some network decentralization and security.
EOS.IO does not charge for sending or receiving transactions, but it rewards nodes for processing transactions by providing them with newly minted EOS coins.
The project was funded through a year-long ICO that grossed a whopping $ 4 billion worth of Ethereum by the end of 2018.
While there are some network security concerns, EOS.IO runs dApps and DeFi platforms without any problems due to its network speed.
EOS DeFi loan platforms and DApps
EOSDT is a decentralized EOS supported stablecoin that can be thought of as the EOS.IO version of Dai.
Each EOSDT token is pegged 1: 1 to the US dollar and overcollateralised with EOS. The protocol runs through a smart contract system called “The Equilibrium Framework”.
EOSDT uses a governance token, NUT, which is used to vote for changes to the protocol, pay fees, and access liquidated EOS collateral.
One of the biggest differences between EOSDT and Dai is that the collateral tied in EOSDT is reinvested, with interest distributed to the EOSDT issuers.
As of December 2019, 4.4 million EOSDT had been generated.
EOS REX is a DeFi platform designed to tackle the problem of unused resources in EOS.IO.
This problem arises from the fact that EOS holders who use their coins are “reserved” network resources but do not necessarily use them. Ultimately, this means that a large part of the network is underutilized, causing unnecessary congestion problems.
EOS REX solves this by allowing users to lease their network resources to other users, but retain the voting rights of their coins and the custody of the coins.
This exchange of EOS resources is made possible by the REX token, which is only used for internal billing purposes. REX cannot be traded outside of the platform.
EOS REX currently only allows credit periods of 30 days.
Newdex is a decentralized exchange based on the EOS.IO blockchain.
It is designed to allow the exchange of EOS-based tokens and assets without a trusted third party.
Newdex charges a flat transaction fee of 0.1% for all trades. It doesn’t charge listing fees from project developers, which makes it easy to start a new project and trade your token publicly.
To trade on Newdex, all you need is an EOS account and a wallet – no registration required!
Best EOS Exchanges
Binance is an exchange that was founded in 2017 and has quickly grown into one of the leading cryptocurrency exchanges in the world.
It offers one of the largest asset selections of any stock exchange today and has enormous trading volumes, often in excess of $ 1 billion a day.
Customers in the US are now limited to their own version of the platform – Binance US – which has a smaller selection of tradable assets.
EOS trading volume: ~ $ 15.7 million (December 2019)
Number of EOS trading pairs: 5
Coinbase is a San Francisco-based cryptocurrency exchange that has been in existence since 2012.
They are a very trustworthy trading platform known for their careful selection of the assets it supports, as well as their compliance with regulations.
The exchange is user-friendly and perfect for newbies, but there is also a more complex platform (Coinbase Pro) for more advanced users.
EOS trading volume: ~ $ 0.9 million (December 2019)
Number of EOS trading pairs: 3
Huobi Global is a Singapore-based exchange that was originally founded in China in 2013.
The exchange has a large trading volume and has offices around the world, including in the United States, Japan, and Korea.
The platform has one of the highest EOS trading volumes of any established exchange of over $ 42 million daily.
Unfortunately, Huobi no longer allows US users to trade on their platform.
EOS trading volume: ~ $ 79 million (December 2019)
Number of EOS trading pairs: 6th
Why is EOS great for DeFi?
EOS.IO is a network that is able to allow a large number of transactions per second.
This allows dApps and DeFi platforms to run quickly and smoothly. In theory, it should be able to manage liquidations of secured debt positions much faster and more accurately than Ethereum.
Despite this characteristic of the network, the volume of EOS DeFi activities and innovations still pales in comparison to the Ethereum network.
We look forward to seeing more DeFi developments with EOS in the future!
Frequently asked questions about EOS lending
Why is the EOS coin not available on major DeFi platforms like Compound?
EOS runs on its own blockchain, EOS.IO, which is not directly compatible with Ethereum-based DeFi platforms.
In order to be integrated into Compound Finance or any other Ethereum-based DeFi platform, it would have to be issued as an ERC20 token, similar to WBTC.
Why is DeFi not so popular on the EOS.IO network even though it is faster than Ethereum?
There are two main reasons that can explain this.
The first is that EOS is a smaller platform than Ethereum, with a smaller market cap, user base, and developer pool.
Another possible reason is that DeFi users prefer decentralization and security over speed. DApps based on EOS are usually less dependent on decentralization and security, e.g. B. Gambling. Although Ethereum is slower, it offers more decentralization and security. This ensures that user funds in DeFi systems are as secure as possible.
Alejandro is a blockchain writer and consultant who has been in the field since early 2016. With great passion for this emerging technology, he has written content for a wide variety of projects and news agencies.
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