DeFiBox — EOS One-Stop DeFi Application Platform
This is a post introducing you to DeFiBOX.
You must be thinking and asking yourself this question right from where you saw the title
What is this BOX about?
DeFi means Decentralized Finance but what is it about this BOX?
Not too long ago, an initiative started in the crypto space which everyone got crazy about. In the bid to always have everything in the crypto space as decentralized as possible.
DeFi started and this means nothing serious than the fact that everyone wants to deal with decentralized coins, everyone wants security, everyone wants a coin nobody controls, everyone want to do transaction without third party being involved.
Here comes Uniswap!!!
Uniswap is a fully decentralized protocol for automated liquidity provision on Ethereum, you can swap ERC20 tokens without a third party. Uniswap enables a trust-less token swap, ERC20 users are able to provide liquidity for token pairs on Uniswap making the whole process work.
This has been so good and users are really eager and willing to go fully into decentralization but Ethereum high gas fee and slow block confirmation isn’t helping the situation at all.
Now this DeFi and new dimension of decentralization is not limited to Ethereum. As we all know,
EOS is one of the largest blockchain in the crypto space. EOS is known for fast transactions and can handle plenty of TPS(Transaction Per Seconds).
On EOS blockchain, there’s only one popular and leading decentralize exchange that allow users to trade their coin in a very decentralized way, no deposit, no withdrawal and users don’t need any trusted party to do their trading. This exchange is none other than NEWDEX
To bring DeFi into EOS Chain on users interests and convenience, considering ETH high fees. Newdex has supported and Funded
DeFiBOX by DeFiBox Foundation.
DeFiBOX was launched on the 21st of July, 2020 and it was started by DeFiBOX Foundation. The project first goal is to become the DeFi Application Platform which will be widely used by everyone on the EOS chain or anyone willing to come into the DeFi world of the EOS Blockchain.
DeFiBOX foundation starting this great initiative simply means they are in charge of the management, goal settings, strategic planning and going concern of this project.
DeFiBOX Foundation will continue to manage everything until they are able to organize a strong community of BOX holders which will be referred to as BOXDAO. This community will be organized through governance voting or proposal which will be aimed at jointly maintaining all operation by the DeFiBox Foundation and BOX holders to ensure growth and development of the project.