Defibox
Defibox
Defibox (BOX) (launched on July 21, 2020) is a leading DeFi (Decentralized Finance) application platform on EOS with token swaps, automated market makers, and stablecoins. The Defibox Foundation founded and maintains Defibox. Defibox mining started on July 24, 2020. [3]
Overview
Defibox
Defibox is a leading DeFi application platform on EOS. It is initiated by the Defibox Foundation, and funded and supported by Newdex. The Defibox application is built on the EOS blockchain.
The Defibox smart contracts have passed the security audit, but there may still be risks.
It is recommended that you invest appropriate market-making funds according to your own risk tolerance.
Defibox is committed to becoming the DeFi application platform widely used by EOS users.
History
Defibox was initiated and created by Defibox Foundation as a one-stop-shop DeFi application platform on EOS. It is also managed by the Defibox Foundation, and it is also invested and supported by Newdex. The project was launched on July 21, 2020, with a strong commitment to becoming the most used DeFi application platform on EOS users. [1][2]
Features
The Defibox project mission is simple but yet profound;
- Improving the efficiency of global value circulation,
- Defibox uses the power of decentralization to combine the features of DeFi, which is more transparent, fairer and more convenient,
- With EOSIO's system advantages; it provides EOS users with a safe, professional, convenient, and easy-to-use DeFi protocol, and contributes to the development of the EOS ecosystem
Defibox Foundation
Defibox Foundation started and manages the Defibox project, as the project initiator, they are responsible for project priorities, strategic planning, resource management, and employs an executive team to ensure the continuous development and growth of the project.
In the future, Defibox Foundation will organize BOX DAO (Decentralized Autonomous Organization) governance community, which is composed mainly of Defibox token holders, through governance voting or proposals to jointly manage the project's operation and growth. BOX DAO aims to achieve more autonomous decentralization.
The ultimate goal of BOX DAO is to dissolve the Foundation and achieve more completely decentralized autonomy.
Defibox Executive Team
The Defibox executive team is responsible for the Foundation and governance community.
This team includes developers and operators of the Defibox project.
They are hired by the Foundation to complete set goals given by the Foundation and report to the governance community.
Defibox Protocols
Defibox has currently launched two protocols; Swap, and USN Stable coin which was previously Danchor project.
"Currently, Defibox has launched two protocols, namely Swap and USN stable coin (formerly Danchor project).
We will launch more protocols in the future such as decentralized lending, synthetic assets, etc."
Swap: This is a fully decentralized token swap protocol and Automatic Market-Making (AMM) protocol. Swap provides real-time swap prices through the constant product algorithm, and users can complete token swap instantly. It users can create swap market, or join the market already established to become market makers and provide market liquidity. Fees are earned by the market maker based on the liquidity ratio charged by transaction consumers.
USN Stable Coin: This is the original idea of Danchor, a decentralized EOS based project (launched on January 17, 2020). The Danchor project will fuse as a sub-project into Defibox. The USN stable coin is created by staking EOS, which can satisfy various financial needs such as leveraged trading and gaining floating capital. The system adopts the over-staking and liquidation risk-control mechanism to avoid market volatility and provide value support for each USN with appropriate staking items.
Decentralized Lending and Synthetic Assets
Defibox plans to develop decentralized lending and synthetic asset protocols to form a DeFi protocol matrix and build a one-stop DeFi application platform.
BOX Distribution
0.128 BOX is released every second, and the release ends in about 5 years.
The specific distribution rules are as follows:
0.0896 BOX is released to the market-making mining pool for market-making mining
0.0288 BOX is released to the Foundation account to be used for product development, operation and promotion, team incentives, risk reserves, etc.
0.0096 BOX is released to the Newdex account as a reward for Newdex fund-aid and support.
Mining Rules
The mining rule were initially put at; Becoming a market maker to provide liquidity can get BOX incentives of the market-making mining pool .
The BOX amount obtained by market-making mining per second equals the proportion of the provided liquidity converted into EOS × 0.0896.
But the mining rules that were originally scheduled to be released on July 23, 2020, and the Defibox mining version that was originally scheduled to be launched on July 24, 2020, will be however postponed for one week.
The reasons are as follows:
Defibox will start the second round of security audit;
The Defibox mining rules will be further optimized;
The team has decided to start the second round of Defibox security audit, and at the same time, they will further optimize the mining rules, the team has decided to start the second round of Defibox security audit, and at the same time, they will further optimize the mining rules.