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OKEx opens to DeFi on EOS
OKEx opens to DeFi on EOS
Defi

OKEx opens to DeFi on EOS

By Alfredo de Candia - 22 Sep 2020

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The CEO of OKEx, Jay Hao, told the community that voting to list the new decentralized finance (DeFi) tokens on the EOS blockchain has begun.

In the related press release it is possible to read that as many as 6 different tokens of as many DeFi projects have been selected:

  • Defibox (BOX), a project that allows exchanging tokens in a decentralized way, to participate in liquidity pools. Defibox also has its own stablecoin similar to DAI. Moreover, by interacting with this protocol it is possible to earn BOX tokens; 
  • Defis Network (DFS): this is a similar project to Defibox. It was launched shortly before the latter and it is also very interesting because it is used by other projects such as dmd.finance;
  • DMD (DMD): the famous Diamond token was also chosen by OKEx. This project is similar to yearn finance (YFI). The team announced several projects, one of which is already live and provides an APY of 12,000%;
  • Organix (OGX) is nothing more than an almost identical copy of Synthetix, hence it is a platform to create and exchange synthetic assets of various kinds. The mainnet will launch soon;
  • Newdex (NDX), the famous decentralized exchange (DEX), a reference point for the EOS blockchain. NDX is the token used to save on fees and more;
  • TokenPocket (TPT), one of the main multi-blockchain wallets that allow managing tokens based on EOS blockchain and not only. Its token can be used for extra CPU power.

In short, these tokens are indeed interesting and are now in the sights of big players like OKEx.

OKEx and DeFi on EOS

But, according to the tweet, only 2 of them will be listed, i.e. those who get at least 2000 votes. Users will have until September 23rd to decide the winners, who will be immediately listed on the exchange.

This could lead to an increase in value, especially for those who will win the vote, as more people will know about these tokens. Among other things, it is common practice for a crypto to go up in price at the time of listing, although this is not always the case.

In any case, by now DeFi on EOS is no longer something imaginary but tangible and with a constant increase in TVL (Total Value Locked) which has already exceeded 100 million dollars, of which Defibox holds 41%.

Defibox recently announced that it will soon provide support for all DeFi projects on EOS, both audit and multi-signature and with an economic contribution of up to 5000 EOS.

This means that DeFi projects on EOS will not only be safer but will also be able to attract more users, even from other blockchains.

 

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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