Alert EOS Holders, REX is here: All about the Resource Exchange

3 months ago

The big thing everyone is chattering about right now is REX or Resource Exchange. REX is a marketplace made for the EOS blockchain that allows for the leasing of network resources in a risk-free way. It establishes a market where you can either borrow resources or rent out your available ones and then receive a return on those lent-out resources on a 30-day loan basis. When renting out your resources you do retain full custody of your EOS and you do keep your EOS votes.

REX: EOS Resource Exchange

REX will be held in maturity buckets that cannot be sold until they actually reach maturity. REX is a separate token which is used for the accounting of  EOS resources on the EOS network.

Risk-Free: The REX tokens will be redeemable for no-less than the number of EOS that you put in. So if you put in 1000 EOS and no one uses your resources, then you get your 1000 EOS back but if someone does want your REX, then, for example, you may get back 1050 EOS. The following is just an example and the current rate of return is incredibly small but that, of course, could change in the future.

In order to be eligible to buy REX, the user must be voting for at least 21 block producers or delegating their vote out to a proxy and when they stake their tokens, they enable developers or anyone else who wants to use their unused resources.

Remember: When you are staking, you are basically claiming a percentage of the EOS network resources. That’s whether you decide to use those resources or not.

The NOT part is what REX is focusing on as many users have large unused surpluses that could be used others at a very low price. Thus, the Resource Exchange is trying to create an efficient on-chain marketplace for maximizing network resources.

The service is already in very high demand as we have seen millions of EOS staked in just the first hours of the REX going live and thousands of buyers lining up to get those cheap network resources.

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