EOS, a popular public chain that was once a smash hit, has caused more and more community members and investors to be disappointed due to various well-known reasons. Bitcoin, DeFi, and Ethereum ecosystems have made rapid progress this year, but EOS has been in a slump. We also see Pieces of scolding in various communities. Despite this, there are still many people who insist, and there are many DeFi applications in the EOS ecosystem, so can it have a chance to come back? Of course, EOS is currently controversial. The EOS ecological projects listed in this article are for learning and communication only. You must pay attention to risks and treat them rationally.
The concept of DeFi has been around for a long time, but it will really attract the attention of investors in 2020.
This year, the Ethereum DeFi project has sprung up, and public chains such as TRON, EOS, and NEO have also followed suit. Even various centralized trading platforms have also launched relevant areas and gameplay, which has led to wave after wave. Among them, there are hundreds or even ten thousand times projects.
Now that the tide has receded, Ethereum’s DeFi project is still developing. Leading projects gradually stand out from the market, while other public chain DeFi projects seem to be a bit slow and retreat, and the market volume continues to decline.
What is the DeFi situation of other public chains? Today’s article will take a look at the status quo of DeFi on the EOS public chain as an example.
Assets
DeFi is a type of financial industry, and the development of the financial industry must be based on the development of high-quality assets. Without high-quality assets, DeFi is water without a source, and it is difficult for a clever woman to cook without rice.
The competitive advantage of Ethereum DeFi is that it has accumulated a lot of high-quality assets before, which is beyond the reach of other public chains. So how does the grapefruit public chain break the game?
1. Stable currency: USDT grows sharply, USN moves forward steadily
Needless to say, the importance of stablecoins in the crypto world that is soaring and plunging. And the king among them is USDT.
Before this round of DeFi development on EOS, EOS, after more than two years of accumulation, only had 5 million USDT, which is almost zero compared with the billions or tens of billions of Ether TRON.
But only the big development of EOS-DeFi in August and September has promoted the explosion of EOS version of USDT. After several rounds of additional issuance, the current USDT on EOS has reached 90 million, which is nearly 20 times higher than before.
On the other hand, the decentralized stablecoin on the EOS chain is also continuing to develop.
Currently, USN, VIGOR, and USDE have a certain amount of usage. Among them, the best performing is the mortgage stable currency USN produced by DeFiBox. Currently, more than 1.14 million has been issued, with a market value of 6.21 million yuan.
But because these decentralized stablecoins have not yet achieved sufficient stability, they are still inferior to USDT in terms of use.
In summary, there is still a large gap between the stable currency assets of the grapefruit public chain and other public chains.
2. Cross-chain assets: pTokens grows steadily
Although stablecoins are important, they are mainly used for hedging after all. We learn DeFi, and more often, we still want to obtain excess returns. Since the EOS public chain does not have too many high-quality assets, can high-quality assets from other public chains be cross-chained?
pTokens specifically solves this problem.
The “p” in pTokens stands for Provable, Portable, and Pegged. You can deposit your high-quality assets on other public chains through the pTokens dApp, and cast the corresponding amount of EOS PTokens on the chain.
At present, PTokens such as PBTC, PETH, and PLTC have been successfully issued on EOE, which is equivalent to cross-chain mainstream coins such as BTC, ETH, and LTC to the EOS public chain.
The current pTokens with the highest market value is PBTC, which has reached more than 140 and the current market value is nearly 15 million.
In addition to solutions such as pTokens, there is also the BTCE issued by Pizza and Starteos, but currently there are very few users, and the cross-chain project HUB that has not yet been launched. In general, the cross-chain assets of the grapefruit public chain are still in the early stages of development.
3. Derivatives: Synthetic asset agreement OGX will be launched soon
In addition to stable coins and cross-chain assets, there is also a new type of asset, which is a variety of derivatives.
When it comes to derivatives, the first project you might think of is SNX on Ethereum, and EOS also has a similarly positioned project called OGX.
The full name of OGX is Organix, which is an agreement for casting and trading various synthetic assets on EOS. It supports the synthetic trading of various digital currencies, commodities, foreign exchange, indices and reverse assets through over-collateralized OGX certificates.
It has already been on the testnet, and from the current experience map out of the testnet, it is quite amazing. However, the future effect and whether it can solve the asset shortage problem on the grapefruit public chain is still a big challenge.
Project articles
The asset issue of grapefruit is indeed a challenge. Compared with the asset issue, the DeFi project on grapefruit is more interesting. However, due to the overall problems of the grapefruit ecology, there are still great uncertainties in these projects. Investment is risky, so be cautious when entering the market.
1. SWAP: the first two major pomelos appear, each has its own merits
The rise of this wave of DeFi is largely due to the outbreak of Uniswap, the SWAP leader on the ether. On the EOS public chain, SWAP was the first to break out. Judging from the current situation, this track is the most intense and full of DeFi competition on EOS, and as a result, three SWAP projects with their own merits were gradually born.
The number one market value is DeFis, with a bumper harvest of homophony. When it went online for the first time in mid-July, it was slammed by scientists because of a design loophole, and a day later it announced its defeat. After restarting in mid-August, it showed amazing innovation ability and iterative speed. The dynamic market interest rate lock system DSS, ILPO risk-free mining gameplay, one-click vegetable harvesting farm hall, DFS mining pool real-time voting, DFS mining pool rainbow have been launched successively Algorithms and various UI iterations. Recently, it has even played the banner of making EOS great again, and launched the REX voting mining game. It was commissioned by 25 million grapefruits within 72 hours of online, and praised the passion of the entire grapefruit community.
The second largest market value is DeFiBox, a homophonic Dabao. The online time is slightly later than Dafengshou. The overall operating style is relatively stable, with stablecoins and cross-chain high-quality assets as the main trading pairs, and the lock-up volume and daily trading volume have been ranked first for a long time, but it has recently declined. It is worth mentioning that many of Dabao’s transaction details are very well done, such as K-line chart, currency introduction, liquidity details, etc., and the user experience is quite friendly.
In addition to these two, there are some other SWAPs working hard, and the market that survives the fittest may bring better teams.
2. Borrowing: Pizza is the dominant family, and DeFiBox is coming soon
Compared with the fierce competition on the SWAP circuit, the borrower is much calmer.
The veteran loan project Pizza has been online for more than two years, firmly occupying the top of the current loan on grapefruit, and the second-place market share is almost negligible.
And Pizza is not satisfied with the status quo, and its iteration speed may be second only to Great Harvest in the grapefruit public chain. At the same time, they also innovated some interesting gameplay, such as the existence of Pizza DFS can also enjoy the return of DSS.
In terms of marketing, although Pizza’s depth is a bit poor, their ability to follow DeFi hotspots is indeed very strong. Almost every hotspot’s DeFi token will be listed on their collateral for the first time, so they are also dubbed by members of the grapefruit community. “Air base”.
3. Machine gun pool: Wealth management products are initially launched, and the effect is still to be tested
When it comes to the most watched projects in this year’s DeFi projects, YFI must be ranked in the front, after all, it has been called tens of thousands of times in just a few days. Therefore, the machine gun pool project has become a highly anticipated track in the DeFi world.
At present, there have been several projects on pomelo to be used as machine gun pools, but the most popular ones are YFC and DMD.
Let’s take a look at the YFC. The total amount is 10,000. It has been released, but it has not been fully produced. Part of the YFC is being distributed again through DSS. At the same time, its machine gun pool No. 1 strategy has passed security audits and has been operating stably for a period of time. According to the design, its daily income will buy back YFC and 3% of it will be destroyed. There is no theoretical upper limit for this destruction, but because the actual participation amount is low, the current buyback and destruction efforts are very small.
Next is DMD, totaling 30,000, which is still being distributed. At the business level, it proposes a distinctive Dtoken gameplay. Through the way of token custody, the liquidity of the original token is released, and the profit space of the original token is increased. It is especially suitable for tokens with a lock-up time limit, such as BG and KEY. After passing the security audit, DEOS and DBG are currently launched, but the market has not yet formed strong recognition.
Overall, this business has actual landing scenarios, but it is still limited by the ecological problems of the grapefruit public chain and has encountered some bottlenecks.
4. GameFi: chain game + NFT + DeFi, new exploration on grapefruit
The last part talks about the newly emerging hot spots: GameFi+NFT. This may be the most likely general direction of the crypto world after the financial field, but it may be earlier than DeFi.
The current best performer is LOOT+TIME, where LOOT is the platform pass of Qiongbao.com and TIME is the game pass for the new chain game “Dream Monster” under Qiongbao.com. This team has been sticking to the chain game field for more than two years, so it has received high attention and expectations from the community at the beginning of the launch.
In the liquidity mining of Shisha TIME, they also introduced the ranking mining + NFT gameplay for the first time on the EOS public chain. At the peak, it reached a pot of nearly one million grapefruits, which was nothing short of success. Now that mining is nearing the end, it depends on the implementation of their products.
Tools
In the last chapter, I want to share with you the more useful tools and communities that were born in the DeFi boom of the grapefruit public chain. After all, if you want to do good things, you must first sharpen your tools.
1. Asset management tool: Dfox
The first thing I will introduce to you is the DeFi asset management tool Dfox. Although it comes from the grapefruit community, it actually supports asset management on both Ethereum and Bitcoin.
Compared with ordinary wallets, its asset management tools are more powerful. You can read the information on the chain in real time according to your wallet address, generate your position status, and support profit and loss analysis. In addition, there are DeFi interest rates and DeFi project displays to help you better perform DeFi operations.
2. Information sharing: EOS-DeFi
The Dfox tool needs to be downloaded and installed. If you find it troublesome, you can also use the EOS-DeFi website.
This website brings together all the DeFi projects currently on the grapefruit public chain, displayed in different categories, updated very timely, and the experience is very friendly.
Conclusion
The DeFi project on the grapefruit public chain has initially had its own set of closed loops, covering everything from assets to projects to tools. However, the current bottleneck on the asset side is very large, and high-quality assets are extremely scarce. Although many projects have the ability to innovate and iterate, they are still in a very early stage due to ecological problems, and there is strong uncertainty.
