Hi guys and welcome to another lovely weekend, well the week has not been that much lovely if you do trade on cryptocurrency or buy and hold as several coins have and currently experiencing a total meltdown with the only basic explanation of bitcoin dumping.
That said, let's quickly take a look at some of the DApps that caught our attention over the week and also steps to access them.
These past few weeks have been all about Defi, as new and different types of platforms offering 1 or more features keep spawning up, some providing pre-existing functions and others something new making it all the more eventful.
Defi is one of those platforms that comes once in a while which is later followed by individuals and companies, on today's writeup, we are going to focus on some use case and also their current price (if any)
The past couple of weeks we have seen several Defi platforms coming up on the Ethereum Blockchain, some offering medium for users to earn by becoming liquidity providers and others offering some other form of incentives to keep users coming back for more but along the way, it all went somewhat wrong probably, not with Defi platform themselves but related to the Ethereum Blockchain.
So, the Ethereum blockchain and just like Bitcoin works on POW and thus network will become congested whenever daily transactions increases as we have seen of late.
Putting this into consideration, devs saw the need to set-up their very own Defi platform on a Blockchain that does not require large fees to run on, faster and better transaction time and so much more.
The DefiBox was birthed.
Built on the EOS Blockchain, it makes use of the fast TPS to initiate transactions, add liquidity, and also as a form of incentive gift users their native token Box.
It allows for the easy swap between EOS and EOS tokens when liquidity with regards to the swapped token is provided.
Just like ETH instant swap DEX on the Ethereum Blockchain, DefiBox function similar to that and with the full advantage of users not having to pay for a fee ranging to $100 or more but rather the usual free transaction when you have CPU, NET, and RAM staked.
The future of Decentralized finance will be based on Defi and DefiBox is a medium to achieving this reality.
Getting started
To access DefiBox users need to have EOS based account and this can be created or imported to TokenPocket depending on your preferences
Download the latest version of TokenPocket here https://www.tokenpocket.pro/
Launch your TokenPocket app and if you had an EOS account before now, simply import and if not then create one via the different methods available on TokenPocket.
Upon creating the account, from your asset page, search for DefiBox, and a result comes up
Simply navigate to it and launch the DApp from the discover menu
Follow the on-screen instructions to get started with DefiBox.
Until some other time, stay bless.