Defibox (https://defibox.io) is a professional one-stop DeFi application platform on EOS. It is initiated and managed by the Defibox Foundation, and get funding and support from Newdex. The project was launched on July 21, 2020, which is committed to becoming the DeFi application platform widely used by EOS users. Currently, Defibox has launched two protocols, namely Swap and USN stable coin (formerly Danchor project). We will launch more protocols in the future such as decentralized lending, synthetic assets, etc.
As the initiator and manager of the project, the Defibox Foundation is responsible for project goal setting, strategic planning and resource coordination, and hires an executive team to ensure the continuous development of the project.
The Foundation will organize the governance community "BOX DAO" in the future, which is mainly composed of Defibox token holders, through governance voting or proposals to jointly maintain the operation and development of the project. The ultimate goal of BOX DAO is to dissolve the Foundation and achieve more completely decentralized autonomy.
3.Defibox Executive Team
As the developers and operators of the project, the Defibox executive team is hired by the Foundation and is responsible for the Foundation and the governance community. They need to complete the goals set by the Foundation in time and report to the Foundation and the governance community.
Every DeFi protocol of Defibox is open, and any individual or organization can visit and use it without any threshold including DApp users, contract developer, etc.
Swap is a completely decentralized token swap protocol and automatic market-making protocol (AMM). The protocol provides swap prices in real time through the constant product algorithm, and users can complete token swap instantly. In addition to token swap, users are free to create swap market, or they can select to join the already created market to become a market maker and provide liquidity for the market (deposit two tokens in proportion). The market maker automatically earns fees paid by transaction users based on the liquidity ratio.
2.USN Stable Coin
The USN stable coin is the original project of Danchor. The decentralized staking stable coin based on EOS was launched on January 17, 2020. The Danchor project will be merged into Defibox as a sub-project. The stable coin USN (1:1 pegged to the U.S. dollar) is generated by staking EOS, which can meet various financial needs such as leveraged trading and obtaining floating capital. The system adopts the risk control mechanism of over-staking and liquidation to avoid market fluctuations and provide value support for each USN with sufficient staking items.
3.Decentralized Lending and Synthetic Assets
Defibox plans to develop decentralized lending and synthetic asset protocols to form a DeFi protocol matrix and build a one-stop DeFi application platform.