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REX / EOS
0.0000 EOS
EOS IN YOUR FUND (UNLENT)
0.0000 EOS
REX IN YOUR FUND
0.0000 REX
VOTE REQUIREMENT
Not met
BORROWED EOS
0.0000 EOS
Login with Scatter
EOS IN YOUR ACCOUNT
0.0000 EOS
Liquid: 0.0000 EOS
Staked: 0.0000 EOS
STAKED TO NET
0.0000 EOS
Staked: 0.0000 EOS
Delegated: 0.0000 EOS
Available: 0 MiB
STAKED TO CPU
0.0000 EOS
Staked: 0.0000 EOS
Delegated: 0.0000 EOS
Available: 0 Sec
VOTE WEIGHT
0.0000 EOS
By account: 0.0000 EOS
By REX: 0.0000 EOS
What is EOS REX and how does it work?
EOS REX is a CPU and NET resource rental market in which holders of the core token of the blockchain can buy and sell slices of the REX pool in the form of REX tokens. Note that a REX token is not tradable with third parties, it is merely a convenient accounting unit which can only be directly bought and sold from and to the pool. Its value in terms of the core token always increases, but the return rate is determined by the level of rental activity.
Proceeds from RAM trading fees and account name auctions can be channeled to the pool, thus providing an additional return to REX holders. Blockchain users can rent CPU and Network resources from the REX pool. The duration of each loan is 30 days and its price is determined by an automated market maker.
Buying REX to Lend EOS Resources
An owner of EOS Tokens can lend their CPU/NET resources by purchasing REX tokens. To do so, a user can transfer EOS tokens into a REX Fund account, then use those funds to purchase REX tokens. Alternatively, a user can use staked tokens to purchase REX, without needing to unstake to liquid tokens first. When REX is purchased, the EOS tokens used as payment are deposited into a pool.
The amount of REX tokens received in exchange for EOS payment is determined by the current ratio of EOS to REX. The number of issued REX tokens is calculated such that the EOS/REX ratio is the same before and after the purchase. In order to buy REX, a user must have voted for a proxy or at least 21 producers. When REX is purchased, the EOS payment quantity is added to user's vote stake for block producers, and votes are updated. This allows users to lend their EOS resources without losing the ability to vote.
Borrowing CPU/NET
The EOS in the pool are used to delegate CPU/NET bandwidth to those who choose to rent it for renewable periods of 30 days, and rent is payable in EOS by borrower. Rent received is added to the lendable EOS pool.
The amount of rent due is determined by a Bancor Algorithm similar to EOSIO RAM market, using the number of Unlent EOS and Rent Received as connector data points. The receiver account is then delegated the CPU/NET in exchange for rent.
Selling REX for EOS Plus a Share of Profits
A user can sell back REX tokens to the pool to receive EOS. The amount of EOS received is calculated using the same method as buying REX - where the number of EOS tokens issued is such that the EOS/REX ratio in the pool is the same before and after selling REX tokens. If no unlent EOS is liquid (all rented), the sell order is placed into a queue and filled upon availability. A user cannot sell REX sooner than 4 days after purchase, a rule added to prevent price manipulation.
The idea is that a user would receive back more EOS upon sell REX, than they paid to buy the REX. This assumes that the rent received into the EOS pool would favorably change the ratio of EOS/REX in the pool, making REX more valuable in terms of EOS. Other sources of EOS income may be added to the pool, such as RAM fees and premium name auctions, potentially driving the EOS value of REX higher.
EOS LAB, SPC - © 2019