$2.90 -0.87%
EOS · 2w

Should REX on EOS be abolished?

I think it is time to rethink REX on EOS. It was touted as a cheap way to get more dapps on to the system and at the same time reward the token holders a good amount of return. None of that is tree. The current rate of return on REX is 0.14% and hardly there is any demand for REX. I get the feeling that no one is really buying REX because it is cheap resources and they are waiting. The negative effect of REX can be felt on EOS price. Had there been no REX, the dapp developers would have been stocking up on EOS tokens. REX was designed in such a way that it made the token holders subsidize the dapp developers. With the confidence that REX can be bought for cheap any time when wanted, has caused a totally negative effect. With all the RAM purchase fees, name auction and everything added, there is no upward movement in the returns at all. Almost no one is getting any returns from REX and so no one talks about it any more. The story with Telos REX is totally different, there is sufficient rate of returns there for token holders. The only way EOS can match their returns is to funnel some tokens from B1 or the savings account to reward the REX buyers. Otherwise, token holders are better off selling the tokens or REX and making more returns with trading activities. The whole thing of governance about REX needs to be really thought about. Everyone jumped with excitement because this idea was Dan's and as usual many things that B1 had done in governance has been a misstep. I hope some thoughtful minds make the right moves to get the REX returns here to be on par with Telos. This thing needs to be really looked into because with development of DAPP and second layer solutions, there is getting to be less and less demand for REX. Look forward to getting everyone's perspectives.
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