BOX to the moon with Yield+ Fuel!
Defibox (https://defibox.io) is a one-stop DeFi application platform on EOS. We can make a simple analogy, Defibox=Uniswap+MakerDAO+AAVE. The project was launched on July 21, 2020, which is committed to becoming the most popular DeFi application platform among users. Currently, Defibox has launched three protocols, namely Swap protocol, USN stable coin protocol and decentralized lending protocol. Defibox recently has celebrated its 2nd Anniversary Event.
Swap
The swap in Defibox is actually quite similar to Uniswap where users provide liquidity for earning transaction fees. As we can see, the EOS+USDT pool has attracted millions USD asset there and it is the biggest swap pool takes up 90%+ in EOS. The second biggest pool is EOS+BOX, which is also quite enormous.
Stablecoin
The USN in Defibox is the second largest stablecoin in EOS besides the well-know “USDT”. And it has the potential to be the №1 in EOS as well as cross-chain to compete in BSC, Heco, and OKexchain. The USN mechanism is similar to MakerDAO where you stake your valuable asset and generate USN.
Lending
Since the official launch of Defibox Lending, its scale has surpassed Pizza. Pizza is known as one of the 4 EOS dragons, specializing in lending protocol. For now, with the mining reward, your mining APY of some tokens can fully cover your borrow cost, or even earn some money. It is equal to “borrow money with 0 interest fees + reward”!
Yield+
“What is Yield+ ?
Yield+ is an EOSIO community initiative designed to increase opportunities for dApp developers to be rewarded and EOS users to earn yield on the EOS mainnet. The Yield+ working group has designed and proposed a Liquidity Rewards Program for EOS. This is an on-chain program that directly measures and rewards increased economic activity on EOS.”
(From Yield+ official website: https://tokenyield.io/)
(Data used from Yield+ Bluepaper)
Yield+ is borrowing the ideas from Fantom TVL incentive program. The TVL and activities during the TVL incentive program increases a lot. This means that for Yield+ project, we are expecting a more active EOS and Defibox in the future
(From Yield+ official website: https://tokenyield.io/)
This stage has an approximation of 625K EOS being distributed per quarter .In the first “Launch” stage, only the assets of $EOS and Tether’s $USDT are included in the TVL calculation. In the next stage, the team will evaluate other tokens such as large marketcap, bridged native assets (ex: Ethereum, Bitcoin with pTokens network), overcollateralized, native EOS, algorithmic stablecoins (ex: USN with Defibox), and other native tokens supported in the upcoming EOS EVM.
Let’s take a look of Defibox system:
TVL: 22,995,404 USD
Swap: 11,443,142 USD
Lend: 5,271,114 USD
USN: 5,263,093 USD
Balance: 1,018,055 USD
Swap+USN+Lend+Balance, among 7 protocols that have Y+ rewards, Defibox take up 4, ranking 1st, 2nd 4th and 6th . With its Swap capped 165 + EOS, USN 80+ EOS, and Lending 20+ EOS, Balance 10+ EOS
It has nearly 300+ EOS per day = 9000 EOS per month, according to my calculation, it equals up to 60% — 80% protocol incomes of Defibox. This is a huge boost for Defibox!
The burn will be HUGE if some of the Y+ income used for BOX token burning
Conclusion:
We are currently at cross-road. The bear market shadow is still upon us, but there is hope. Yield+ will bring light to the EOS project teams, including Defibox. With its huge TVL of Defibox and boost from Yield+, BOX token will start a new journey
