BOX, the rocket fuel of Defibox! EOS EOSIO DeFi
Let’s take a look at the incredible mix of technologies that will get us to the moon before SpaceX.
The launch pad
Everything that leaves the earth for the moon starts from a launch pad. That launch pad is now called Newdex! Newdex is now known to most as the exchange with the best defi token launch platform on EOS. The Newdex Seed Fund has helped to emerge many new players in the DeFi field: Organix, Defis, etc… but no one however can ignore Newdex’s greatest success: Defibox! The Defibox Protocol is a DeFi application platform built on EOSIO blockchain. BOX is the governance token of the Defibox Protocol.
The Defibox rocket
The multistage rocket that will bring us to the moon and beyond is made of these powerful main components:
Right BOOSTER — Danchor USN stablecoin generation
Get BOX reward by adding liquidity on designated USN related liquidity pools. USN generation, formerly known as Danchor, is a way to obtain BOX tokens. Stake EOS to generate USN and get incentives from the USN generation mining pool.
The rewards of liquidity mining are counted in real time and accumulated automatically, so you can claim them at any time.
Left BOOSTER — The Saving System
Earn BOX tokens with BOX Saving System BSS by staking BOX tokens to earn highly-attractive returns, the initial staking program offers three staking periods and respective yields:
- 30-day BSS period: Earn 4,91% annualized interest
- 90-day BSS period: Earn 9.83% annualized interest
- 360-day BSS period: Earn 19.67% annualized interest
BOX tokens will be locked for the duration of the BSS period. Reward with real-time statistics and automatic accumulation can be claimed at any time, but you need to wait for the end of the chosen period to be able to claim your initial BOX amount.
1st STAGE — Liquidity Pools
Liquidity pools are the basis of automated yield-generating platforms like Defibox, where users add their funds to pools that are then used to generate yield. The Liquidity Pool token (LP) are distributed proportionally to users based on their participation. The more LP token the more fees a user receives. Also BOX rewards are received which are counted in real time and accumulated automatically, and you can claim them at any time.
When LP Token to another EOS account, the right to claim subsequent liquidity mining rewards will also be transferred.
2nd STAGE — Swap feature
Main use of the liquidity pool is the SWAP feature where you mine BOX tokens while converting a token in another. The smart contract releases BOX for transaction mining, which are proportionally distributed to users and sent to their account in real time, no need to claim. During multi-path swap, it will automatically mine multiple times. The BOX rewards obtained by transaction mining will be sent to your account in real time, no need to claim.
3rd STAGE — Lending protocol
With the lending protocol currently in advanced beta testing, users will act as depositors and/or lenders. Depositors provide liquidity to the market to earn passive income, and borrowers are able to take out loans, soon all this will become a new way to mine BOX tokens. This stage will push BOX token further forward to the moon.
The ROCKET FUEL
From the ground up in the sky every part of this beautiful rocket makes good use of its fuel, the BOX token! Stablecoin, saving system, liquidity pools, swap and lending are built to take advantage of this powerful yet scarce resource. Yep, scarce… didn’t we mention that there are only 5,000,000 BOX tokens in circulation? … and guess what: the foundation is seriously considering a further reduction!
In addition to the features listed above, the BOX token also confers governance voting power. BOX token holders in fact can influence decisions concerning the project on new feature proposals and even changing the governance system itself. All proposals are subject to a voting period, and any BOX token holders with voting power can vote for or against the proposal.
To the Moon!
To get to the moon DEFIBOX have already planned a bunch of optimizations that will ensure an ever faster and safer journey, for example: enable a single side liquidity provider, enable multi-collateral for USN, create an orderbook for Swap, upgrading of the saving and lending systems, and so on…
A space mission is not brave enough if it doesn’t aim at more than one accomplishment. The moon is not enough, the token BOX goes further! Next stops of this journey are already in view:
- Incubation of “satellite” protocols thanks to the Defibox Eco-development Foundation
- Solution to impermanent loss
- Multi-chain Exploration to establish a Defibox colony there..
- Cross-chain cooperation via pNetwork tokens
- Expansion of USN applications
- Listing on more Tier 1 Exchanges
- Enhanced community autonomy
- Deeper cooperation with media
These are only a few of the amazing adventures that await us on the DEFIBOX rocket!
LINK:
Knowledge Base:
Social:
Feel free to share with anyone who wants to learn more about Defibox.
Cheers :)
