DeFi: How many EOS are locked?
DeFi: How many EOS are locked?
Defi

DeFi: How many EOS are locked?

By Alfredo de Candia - 3 May 2020

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When addressing the DeFi topic, one aspect that tends to be overlooked is taking into consideration also other blockchains than Ethereum: for example, there are a lot of EOS locked in decentralized finance platforms.

The EOS blockchain, which is based on a protocol using a DPoS (Delegated Proof of Stake) consensus model, has several DeFi projects to its credit.

A list of the main protocols concerning decentralized finance on EOS can be found here. We will take a look at some of these to get a more or less accurate picture of the volumes and EOS locked in the various projects.

The biggest project as far as EOS is concerned, specifically for lending, is without a doubt REX (Resource Exchange) which in one year of activity has reached 79 million EOS for a value of about 216 million dollars: by comparison, Maker has just over 430 million dollars.

With more than 4 million EOS, there is the EOSDT stablecoin whose value, in dollars, translates into a little more than 10 million dollars. This stablecoin is totally decentralized and it can be compared to the DAI stablecoin since it has very similar characteristics.

Among the DeFi projects based on EOS, there is also Bancor, a decentralized multi-blockchain exchange that, thanks to its pools, makes it possible to create independently any token on the EOS blockchain.  It currently has a volume of about $2 million.

Finally, there are also the recent pTokens, whose first transactions were recently initiated. This system is incredibly fast and has created tokens pegged to the value of Bitcoin but based on the EOS blockchain, creating a sort of interoperability between these 2 protocols.

In conclusion, by making an estimate of the EOS locked in DeFi, it can be assumed that these are around 90 million EOS and when comparing this value with the total supply value, which is just over one billion, we see that it corresponds to 9%. If, on the other hand, we compare this value with its liquid supply, which amounts to just over 423 million EOS, then the percentage rises to 21%, which shows that EOS is also moving in the direction of decentralized finance.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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