EOS DeFi Ecosystem Grows with DefiBox and DADDAD
The DeFi ecosystem on EOS is growing rapidly, with new projects emerging that offer users a range of financial tools and services. One such project is DefiBox, which allows users to supply liquidity for various tokens and earn rewards in BOX tokens.
DefiBox has implemented liquidity pools similar to Uniswap, as well as a US Dollar pegged stablecoin called USN, similar to MakerDAO's DAI coin on Ethereum. The project currently offers liquidity farming, where users can earn BOX tokens for supplying liquidity or performing swaps.
The total supply of BOX tokens was recently reduced from 100 million to 5 million through a voting process. As of now, about 1,020,000 BOX have been mined, with stakers receiving 0.2% of the swapping fee and liquidity providers earning 0.1%. Users can also stake their BOX tokens to earn hourly swap fees.
Another project on EOS is DADDAD, which aims to maximize profits for users by proposing and implementing new DeFi applications on the platform. The project's governance token distribution happens hourly, with rewards halving every 48 hours. The development team behind DADDAD has added four pools to the project, including one for depositing DAD tokens and another for EOS/DAD liquidity pool tokens from DefiBox.