$3.74 -1.35%
EOS · 18w

EOS REX Explained - ELI5

The well known chief technology officer of the company that bought us EOS.IO(and is continually pushing and developing upgrades for), Daniel Larimer proposed in August this year on Telegram, the idea of a Resource Exchange(REX) that is to be built on the EOS.IO software with the intention to be ran on the EOS mainnet(but not exclusively).

This is interesting news for any stakeholder of any form in the EOS mainnet(EOS), Telos(TELOS), Worbli(WBI) or any future chain built on top of EOS.IO due to fact that it would allow you to reap a profit from staking the chains native token and therefore have the ability to earn a passive income aswell as capital gains if the market is positive. This extra potential income to EOS token holders could help level out the proposed 5%~ inflation per year as the rewards come from a combination of funds from the renter and from a pool of fees collected by the network for things such as premium names and RAM trading fees.

Essentially how the proposal would work is that Block.one would develop the REX then release it on the EOS mainnet then users would be able to send EOS to the REX and receive T-Rex tokens which are non-transferable, but redeemable only by the REX smart contract when one wishes to unstake their EOS and claim their profits.

Their profits would proportional to that of the REX over the length of the staked period, So if you hold 25% of all T-Rex tokens for a day, and 4,000 EOS in RAM sales are collected in premium name auctions and RAM fees that day, you will receive 1,000 EOS (25%) in rewards when you exchange your T-Rex tokens, plus the original EOS you lent.

When you look at it from the resource renters perspective, a user who would like to use network resources could rent them from the REX for a given period of time and for a given rate rather than having to buy EOS tokens(for the right to network resources) and sell them again which could prove very capital intensive for many companies. Continue on trybe.one

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