EOS Disqualification

蜂巢财经News

特邀专栏作者

2021-01-05 10:34 (UTC+8)

This article is about 4429 words, reading the full article takes about 7 minutes

For 3 years, EOS is $2.6 every January 1st.

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For 3 years, EOS is $2.6 every January 1st.

Editor's Note: This article comes fromHoneycomb Finance News (ID: fengchao-caijing), Author: JX kin, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Honeycomb Finance News (ID: fengchao-caijing)

, Author: JX kin, reproduced by Odaily with authorization.

Driven by BTC, the prices of mainstream encrypted assets such as ETH and LTC are flying together. The former "Blockchain 3.0" means that EOS is "I will stand still."

As of 1:00 p.m. on January 4, according to non-small data, the price of BTC was 33,151 US dollars, an increase of 364% in the past year, and the price of ETH was 1,023 US dollars, an increase of 687% in the past year. At the same time, EOS was quoted at $2.97, an increase of 16.1% in the past year.

The EOS-based side chains BOS, Telos and EOSForce have hardly been successful at the landing level in the past two years. This year, DeFi has exploded on Ethereum. Only Defibox and DeFis are still popular on EOS. The lock-up value of the two has increased That's only $30 million. The locked value of DeFi on the entire EOS network is only 308 million, which is not as good as Cream, the sixteenth-ranked lending protocol on Ethereum.

In 2019, EOS was short-lived in the DApp market, and the high-profile debut of Voice disappeared. In 2020, the opportunity of DeFi was lost, and the long-term fluctuation was around $3. EOS is being disqualified from the ranks of mainstream assets.

Liu Wei spit out a prediction, "The ending of BTS is the ending of EOS."

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EOS circulation market value fell out of the top 10

"I discovered a shocking secret. The price of EOS will be 2.6 dollars on January 1, 2019, 2.6 dollars on January 1, 2020, and 2.6 dollars on January 1, 2021." Some investors posted a picture in the social group The picture shows the price of EOS every January 1st in the past three years, which is surprisingly similar to stay at $2.6.

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EOS annual K-line trend

EOS seems to be the EOS of three years ago, but Bitcoin has broken through record highs again and again, and Ethereum has also returned to a sharp rise.

According to non-small data, on January 3, BTC rose to a maximum of US$34,762, an increase of 73% compared to the high of US$20,000 in 2017, and an increase of 364% in the past year, with a market value of US$615.96 billion, surpassing Internet giants Alibaba.

ETH is also skyrocketing, approaching all-time highs. On January 4, ETH rose to a peak of $1,160, which was $262 short of the high of $1,422 in 2017, an increase of 687% in the past year, and a circulating market value of $116.6 billion. According to comparative media statistics, the market value of Ethereum ranks 76th among global assets, surpassing companies such as Citigroup and Sony.

BTC and ETH are often hailed as representatives of blockchain 1.0 and 2.0. When EOS debuted, under the banner of commercial use, high performance, and scalability, it was regarded as the representative of "Blockchain 3.0", and its TPS can reach 6000+.

EOS has had a bright moment in currency prices. At the end of 2017, the highest value of EOS rose to 23 US dollars, and the market value of circulation ranked among the top five. But now the circulating market value of only 2.7 billion US dollars can no longer keep EOS in the top five of the market value rankings. Projects such as Chainlink (LINK), ADA (Adacoin), and Polkadot (DOT) are on the top.

After Stellar Lumens (XLM) and BSV, EOS ranks 13th by market capitalization.

EOS is being disqualified from the ranks of mainstream assets.

Of course, other investors believe that EOS, which has been sideways or always falling all the year round, has risen, indicating that the bull market is more confirmed. The rise of EOS seems to be an accident, and the ridicule of investors also reveals some kind of not optimistic about EOS.

Why is EOS underperforming?

Liu Wei (pseudonym), who used to work for a super node of the EOS network, believes that EOS was broken from the very beginning.

He explained that in 2017, the bubble was too big in the super node election, which led to high expectations from the outside world; in addition, the community was not very united, and the developers made too many side chains based on EOS, which dispersed the power of the community. Up, there is no attention from users and capital, thus forming a vicious circle, which eventually leads to the performance of the market today. "

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The total TVL of EOS's DeFi is not as good as that of Ethereum's single project

Ethereum has proved with its own development that the blockchain network can continuously grow applications to form an ecological effect. When developers are willing to build applications and users are willing to use these applications, the network can gather value.

DApps have exploded on the EOS network, but applications based on games and gambling scenarios are not sustainable. On the network, side chains are comparable to the popularity of DApps. In the community, there are side chains Telos that stabilize fees and eliminate account creation costs, enterprise and financial side chains Worbli, BOS that focuses on business applications, and governance side chains EOS Force ( EOS Force) and so on.

The original intention of the birth of these side chains is similar to the concept of EOS when it first benchmarked against Ethereum, and they all claim to make up for the shortcomings of the network.

Different from Ethereum paying Gas fees to use the network, when using EOS, you need to pledge EOS in exchange for network resources such as CPU and RAM. These costs are not low. When users register an account, they also need to pay a certain amount of EOS to obtain resources. For example, when registering an account on the TokenPocket wallet, the user needs 2EOS.

The emergence of EOS side chains has solved some pain points of network usage. For example, there are still BOS side chains maintained by developers. Its main network was launched in January 2019. Free resource quota to reduce the cost of using DApp. The side chain also plans to connect DApps on Ethereum and other public chains to the EOS community through cross-chain, to be a free port for DApps.

Currently, BOS has launched the centralized exchange Hufu, the decentralized exchange Whale Exchange and Newdex. At 2:00 p.m. on January 4, BOS quoted a price of $0.00184, a drop of 88% in the past year. Regardless of the currency price, application scale and network direction, BOS is not a success. The cross-chain bridge has not allowed more new forces to "bridge" to the EOS network.

The internal improvement of the order did not attract outside developers, and EOS did not seize the new opportunity of DeFi this year.

According to OKLink data, as of January 4, the locked-up value (TVL) of DeFi on ETH was 26.96 billion US dollars, and the locked-up value of DeFi based on EOS was only 303 million US dollars.

Some analysts believe that the lag of EOS in the DeFi sector is due to the lack of supporting infrastructure. Take the stablecoin tool as an example. There is DAI on Ethereum, and the USDT issued based on ETH has reached 13.56 billion US dollars. It was not until September 2020 that Tether issued 90 million USDT on EOS. On the other hand, another public chain, TRON (TRON), already has 7.8 billion USDT in circulation on the chain.

The EOS-based DeFi protocol is supported by Defibox, a DEX, and the mortgage lending protocol Defis. On January 4, the locked-up funds of Defibox were 18.75 million US dollars, the locked-up funds of Defis were 10.46 million US dollars, and most of the rest were less than 10 million US dollars.

DeFi withered on EOS, and the game applications that were once extremely popular in the past have not developed. Dappreview data shows that Bluebet is the gambling protocol with the highest daily active users on EOS. According to data on January 4, the app has 117 daily active users and a daily transaction volume of US$1.133 million.

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The top ten DeFi protocols ranked by TVL are all based on Ethereum development

The market performance and ecological construction have fallen in an all-round way. Liu Wei attributes the current situation of EOS to BM's poor operation ideas.

He explained that BM still develops EOS according to the idea of BTS (BitShares). After the mainnet is launched, it will be handed over to the community. "The ending of BTS is the ending of EOS." EOS has gradually faded out of the market. "Although the EOS network has been born for more than two years, it is still in its early stages, and the public chain community initially needs a leader to build consensus."

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In fact, Block ONE, the parent company of EOS, has also struggled. In 2019, the community announced that it will develop a social product Voice on EOS. In February last year, Voice was officially launched.

On Voice, content creators can post text, video, and pictures to share their work, and community members can communicate and discuss with real people. From a formal point of view, if EOS is a replica of BTS, Voice is like a replica of Steem.

In June 2020, Voice also caused controversy by requiring users to undergo KYC. At that time, the Voice platform’s statement on strict control of KYC focused on the authenticity and openness of the content. “KYC can screen out robots that publish information based on business needs.” After this round of controversy, Voice lost its voice.

According to the official website, there are currently 26 communities in Voice, and the community with the largest number of encryption writers has 847 members. As of 5 pm on January 4, the latest news is "Encryption in Kaspersky's 2021 Security Bulletin" published by encryption writer Mark Bailey. Insights". Voice is currently open to Chinese users.

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VoiceCommunity News

Voice is still used by people, but as a social application, it is too small compared with giants such as Twitter, Facebook, and WhatsApp. Although the stamp of "blockchain" makes Voice look different, but at the moment when "blockchain and finance are more compatible", DeFi is very lively, and Voice failed to make enough voices to attract the attention of capital and users .

In the eyes of the outside world, Block ONE's investment in EOS is still not enough.

At the beginning of the launch of the side chain BOS mainnet, developers complained, "I am a programmer. Although I dare not say how good the code is, I also want to submit some of my code for EOS, but BlockOne rarely accepts submissions from programmers." code, and won’t give me a reward.”

Block ONE is not short of funds. In 2017, when EOS appeared under the title of "Blockchain 3.0", under the leadership of the parent company, EOS raised funds for a year, and raised more than 4 billion US dollars in total.

On the other hand, Polkadot (Polkadot), whose market value has recently rushed to the top 6, its founder Gavin Wood has been leading the development of the project. After 5 years, it finally realized the operation of the network in 2020. In the past five years, the Web3 Foundation, which led the development of Polkadot, has completed three rounds of financing, with an amount of less than US$300 million.

Where does the funds raised by EOS go? Over time, some clues came to light.

According to the EOS media EOS Go, Christian Angermayer, a shareholder of EOS parent company Block.One, stated in the OMR podcast released on September 16, 2020 that Block.One holds Bitcoin worth more than 2.5 billion US dollars. At that time, the price of BTC was around $10,500, which meant that Block.One held more than 240,000 BTC.

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