ETH/TRON DeFi is crashing, but EOS DeFi is booming. What impact does DeFi have on EOS?
The market collapsed again, falling across the board, BTC has fallen below $10,000, ETH has fallen by 15 points, and the star cross-chain project Polkadot has fallen miserably in this wave, with a drop of more than 20% in the last 24 hours , seems to be the biggest drop in this wave of mainstream currencies. In addition to Polkadot, the Tron field is also very large, with a drop of nearly 20%.
The sharp drop this time is likely to have a lot to do with the sharp drop of SUSHI. The sudden drop of SUSHI brought down the entire DeFi market and the entire cryptocurrency market. You must know that the influence of SUSHI is still quite large, and there is no DeFi currency The three major exchanges, Binance, Huobi and OKEx, can be listed simultaneously in such a short period of time.
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1. There are more and more EOS DeFi dolls
The cost of participating in ETH DeFi is too high, and the transfer fee is tens of dollars, and the network congestion is serious. It is obvious that the current performance of Ethereum cannot support a large number of commercial applications. DeFi in Tron has not been doing well recently. Although transfers in TRON are free and fast, the price of DeFi currencies in TRON has fallen too much recently. In the past two days, there have been more people scolding Sun Cut, and the popularity of DeFi Moving to EOS.
Although the price of EOS has been very weak in the past two years, the foundation of EOS has always been there, and some excellent teams in the EOS ecology are still cultivating, such as TokenPocket wallet, Newdex, etc., have made contributions to the EOS ecology. made an outstanding contribution.
In this wave of EOS DeFi, they not only participated in the EOS DeFi project themselves, but also gave great support to EOS DeFi. For example, Newdex always goes online to support new EOS DeFi coins as soon as possible, while TP Wallet is actively serving new and old EOS users.
EOS DeFi projects have obviously increased, and some project teams developing on the ETH ecology have begun to enter EOS DeFi.
Appeared on EOS the day before yesterday"diamond", All of a sudden, the EOS ecology was activated, which not only greatly increased the amount of coins deposited in the project, but also promoted the rise of the EOS price. The EOS version of USDT has also increased by 25 million. The contract code of the diamond project is currently being audited by SlowMist Technology. The EOS community has great expectations for the project. Everyone hopes that it will not run away. After repeated efforts by the community, it is said that the diamond team will first go online and sign more Function, at least before the contract code audit results come out, multi-sig accounts can prevent the project party from running away and eliminate a major hidden danger in everyone's mind.
The popularity of DMD has not yet diminished, and DFS-based fishing is here. YFC fishing and mining officially started at 0:00 this morning. YFC is a typical matryoshka DeFi. In YFC, there is no need to worry about contract security at all, because the user’s assets are not in the It is stored in the contract account of YFC.
As long as the user has a certificate for mining in DFS, he can mine in YFC, which is the so-called"Market making is mining"This mode is also learned from ETH DeFi. This mode is basically equivalent to double mining for users. The first mining is carried out in DFS, and then the certificate can be used to go to YFC for the second mining, so as to obtain more mining income.
Every EOS DeFi project seems to be very popular recently, and YFC is no exception. Many people stay up until 0 o'clock to fish and mine YFC.
In addition to DMD and YFC, a new EOS DeFi project named coral mining (https://crl.finance/) came out last night. After a cursory look, it has the function of a gun pool. The supported currencies are USN and BOX seems to have a certain relationship with Newdex, but the project party denies any relationship with Newdex/defibox.
In terms of security, the CRL project adopts account multi-signature and code open source, adopting"1+2"The multi-signature mode, that is, if you want to perform related operations on the contract account, in addition to the project party, two other EOS node account signatures are required to be valid.
The project will start at 12:00 noon today. If you are interested, you can also pay attention to it.
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2. EOS DeFi has greatly increased the demand for EOS
With more and more EOS DeFi projects, it is obvious that the demand for EOS has also increased. For many EOS DeFi projects, EOS is just needed. For example, the DMD project can mine DMD new coins as long as it stores EOS. For DFS and BOX, EOS is required for flash exchange and market making, and even stablecoin mortgages also need to use EOS as the base currency.
It is precisely because there are more and more EOS DeFi projects and there is more demand for EOS that the price of EOS has risen. Didn’t the recent rise in EOS price start from the diamond project?
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3. EOS DeFi promotes the issuance of EOS version USDT
For a long time, the number of EOS-USDT has been relatively small. Before the outbreak of this round of EOS DeFi, Tether only issued more than 5 million USDT on the EOS mainnet, which seriously restricted the development of the EOS ecology. After all, for a public chain In general, a stablecoin with a broad consensus is more important. After all, the price of digital currency fluctuates too much. Whether it is a project party or an ordinary investor, they all need stable coins to lock in profits or reduce losses. For example, in the process of TRON's ecological development, the TRON version of USDT has played a big role.
In this round of EOS DeFi, the number of additional issuances of EOS-USDT has been greatly promoted. If BOX and DFS have promoted Tether’s additional issuance of 10 million USDT, then the Diamond DMD project has promoted Tether’s additional issuance of 25 million USDT. According to the usage scenario of EOS-USDT, the frequency of issuance will become higher and higher.
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4. The number of new EOS accounts is increasing significantly
The EOS mainnet has been online for more than two years, but limited by the development of the EOS ecosystem, the number of EOS accounts is only more than 2 million. The growth rate of the number of EOS accounts also explains the current status of EOS ecological development to a certain extent.
According to my weekly statistics, recently there are hundreds of new EOS accounts on average every day, but the number of EOS accounts has obviously increased in recent days, and the number of new EOS accounts has increased to several thousand a day. indivual. Obviously this is due to more and more people participating in EOS DeFi, and many new users have indeed come to the EOS ecosystem.
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5. Exchanges gradually become friendly to EOS
With the development of EOS DeFi, the attitude of exchanges towards the EOS ecology seems to have become more and more friendly.
For example, the strong secondary exchanges Gate and Matcha not only support the deposit and withdrawal of EOS version USDT, but also begin to pay attention to some high-quality DeFi coins in the EOS ecosystem, especially Matcha, which is relatively active in listing new coins, and Recently, voting is also going online. The currencies on the line include BOX, OGX, etc. These are relatively high-quality currencies in EOS DeFi, and they will definitely not be worse than the SUSHI launched by the three major exchanges.
