Time to De-Fi with DeFiBox. (re-DeFi)

[otto11]

INTRODUCTION :

credit depositphotos

The year is 2020 and we are in the bull market again , to some old heads in the space this could easily be likened to the bull run of 2017 where stories were changed , legacies were created and where their were devastating loses as well , loses that some institutions or individuals are yet to recover from.

credit : Ccfacts.

This may have been one of the reason why there are decentralized exchanges or institutions in place in the times that have followed from decentralized exchanges and then through to decentralized finance and so on.

With decentralization taking the central stage and with new developments in the financial aspects of crypto.
The provision of safety , security and most importantly transparency are mostly the parts focused on.

It should be noted that it's been established what De-Fi is and as most De-Fi projects so far has mostly been created on the Ethereum (ETH) blockchain , perhaps an upgrade for a more efficient and high performing chain with better scalability and Transaction per second (TPS) isn't such a bad idea right?

That is why EOS stands at the very list but before I make you my dear reader start imagining things let me there is such a dApp.

Introducing Ladies and Gentlemen ...

DEFIBOX :

A professional one-stop De-Fi application platform on the EOS blockchain.

Okay , now with that said let's pause for a second and point out two quick things that make this project an instant hit , it's crazy infact it's like it's a young Mike Tyson .

Points:-

1). It is a funded and supported product by NewDex , an EOS based decentralized exchange that has and is still setting awesomely remarkable standards in the blockchain space.

2). Defibox will improve the effeciency of global value circulation.

Side note :

In the second point , you would probably ask "How?" . Well , we'll get to it , stay with me!!.

Now let's start from the very beginning by asking the super "obvy" questions shall we?

what is DefiBOX ?

First let's start with a quick backstory of how this project was concieved by looking at it's contributors.

a). DeFibox foundation : This is the company that initiated organized and manage the project , it'll be easy to just leave it at that but there's more.

The foundation would be or are in charge of making some important decision concerning the DeFibox project.

b). NewDex: Is the first if it's kind on the EOS blockchain .

A decentralized exchange that has helped support outstanding projects like the Leaf wallet and more are the ones leading the pack in there field and it's easy to see why.

• So what DefiBOX is ,is its an application built with the sole aim of being the go-to DeFi app for EOS users.

Launched on the 21st of July , 2020 and with what's been earlier said and probably repeated , It is as clear as day to any and every institution that EOS is what De-Fi has been missing.

Though a newbie in the space, Defibox has already alunched two protocols which are :

1). Swap

2). USN Stablecoin.

e.1). BOX

But for context I'll be adding and talking about one other component called BOX .

I'll begin with BOX first before we move to the other 2 protocols.

e.1). BOX :

This is the governance token of Defibox.

The holders of this token would have the power to voter and be able to jointly maintain the operation and development of the project.

Though this token is not trading yet (as of the time of writing this ), the goal of the BOX DAO is to provide and maintain a truly dectralized system.

And it's value would be gotten through it's governance.

- 1) SWAP. :

As Defibox was created the job of the swap would be to exchange De-Fi tokens without asking for custody or KYC.

Tip : There's a reason it's called the EOS version of Uniswap.

HOW TO SWAP:

- Steps :-

(a). Open your Defibox application on your device it connects automatically with your EOS account.
(Currently Defibox supports Meet-one and Token Pocket wallets).

(b). Select the swap header bar right beside the liquidity header once done then you can pick pairs (this are the token icons showing with arrows between them).

(c). Slippage protection function : swaps is usually affected by the size of the liquidity pool thereby causing flunctuations.

It's function is to prevent unwanted or unnecessary loses as it is an adjustable function.

Now this is the part where I imagine you mutter something like ""sweet".

USN STABLECOIN :

This is the second protocol launched by the De-Fi application platform and as typical of a stable coin , it is designed to control or stable the effects of volatility.

The USN Stablecoin has 10million Box tokens allocated for it.

There is a process called the USN Generation mining , this is described as so because of the process it takes to mint the Stablecoin which is typically pegged to the value of the USDollar.

See , it's like this... :

It allows Defibox users mine the BOX token by minting the USN Stablecoin by releasing 0.064Box tokens every second it's distribution is predicted to last 5years.

The Usn Generation users get 70% of reward while Defibox foundation and NewDex will receive 22.5% and 7.5% respectively.

Note : Minting is defined as the computer process of validating information , creating a new block and recording that information into the blockchain.

Since the whole system methods and process are created on the EOS chain it indicated that EOS can be staked to mint USN.

In order not to bore you out and all that I'll be listing some reasons why you should switch Defibox.

WHY DEFIBOX :

_-Firstly , I think DeFi doesn't get any better than this IMHO.

WHY ?:

• Because of the obvious reason that "Profit" , I mean have you seen the charges on ETH currently?
  I don't know about you but no-one wants to leave a transaction without being satisfied right? So there.

ANOTHER THING IS :

• Looking at the advantage of EOS-chain on on DeFi and it definitely promises a better experience.

ONE MORE THING IS :

• Defibox is definitely come to stay and even though with just 2 protocols out as it is there are bigger things going on in the background , I'm talking smart contracts and so forth.

And Finally the END :

I'll stress this though there is only one blockchain that can do what the EOS can contract can do.

Plus , The Defibox smart contract just passed the security audit of well-known blockchain security companies (PeckShield and SlowMist), providing the significant guarantee for the security of code.

Meaning it's system just upgraded it's smart contract to better manage core assets.

IMPORTANTLY :

After all is said and done , it's is super important to do your own research (#DYOR) as this isn't business advice and I will not be held liable for how you interprete this piece.

@Otto11 here , have a good one.