EOS Cryptocurrency Lending Rates
EOS is the native token of the EOS.IO blockchain, an intelligent high-speed contract platform.
EOS.IO is a high-throughput platform that works with a dPoS consensus algorithm (Delegated Proof-of-Stake). 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 makes some sacrifices for 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 one-year ICO that grossed a whopping $ 4 billion in Ethereum by the end of 2018.
Although some network security concerns remain, EOS.IO runs dApps and DeFi platforms smoothly because of its network speed.
EOS DeFi Lending Platforms & Dapps
EOSDT is a decentralized, EOS-supported stablecoin that can be viewed as an EOS.IO version of Dai.
Each EOSDT token is tied 1: 1 to the US dollar and over-secured with EOS. The protocol is executed through a smart contract system called “The Equilibrium Framework”.
EOSDT uses a Governance Token (NUT) which is used to vote on changes to the protocol, pay fees and access liquidated EOS collateral.
One of the biggest differences between EOSDT and Dai is that EOSDT tied collateral is reinvested and interest is distributed to the EOSDT issuers.
As of December 2019, 4.4 million EOSDT had been generated.
EOS REX is a DeFi platform designed to combat the problem of free resources in EOS.IO.
This problem arises from the fact that EOS holders who insert their coins are “reserved” network resources but do not necessarily use them. Ultimately, much of the network is underutilized, which leads to unnecessary congestion problems.
EOS REX solves this problem by letting users lease their network resources to other users, while maintaining voting rights and custody of the coins.
This exchange of EOS resources is facilitated with the help of the REX token, which is only used for internal accounting purposes. REX cannot be traded outside the platform.
EOS REX currently only allows a term 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 transactions. There are no listing fees from project developers, which makes it easy to start a new project and trade your token publicly.
All you need to trade with Newdex is an EOS account and wallet – no need to register!
Best EOS exchanges
Binance is an exchange that was founded in 2017 and has quickly grown into one of the best cryptocurrency exchanges in the world.
It has one of the largest asset selections of any stock exchange and has massive trading volumes, often reaching over $ 1 billion a day.
Customers in the US have now limited themselves to their own version of the platform – Binance US – which has a smaller supply 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 around 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 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 the United States, Japan, and Korea.
The platform has one of the highest EOS trading volumes of any established exchange of over $ 42 million per day.
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 can allow a large number of transactions per second.
This makes it quick and smooth for running dApps and DeFi platforms. In theory, it should be able to manage secured debt liquidation much faster and more accurately than Ethereum.
Despite this characteristic of the network, the volume of EOS DeFi activities and innovations pales in comparison to the Ethereum network.
We look forward to further DeFi developments with EOS in the future!
FAQ on 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.
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 a smaller pool of developers.
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 New Zealand-based trader and writer who has worked in the cryptocurrency and blockchain space since early 2016. Enthusiastic about this emerging technology, he has written content for a variety of projects and news outlets.