EOS Hot Sauce #28

EOS Hot Sauce is a weekly digest of all the hottest news from around the EOSIO ecosystem. The space is evolving so rapidly it can be hard to keep up! We keep on top of it so you don’t have to.

This week's spicy topics:

Sauce in every format:

EOS Nation’s EOS Hot Sauce is also available in video and audio formats shortly after the article is published.

DeFi with Equilibrium, Acueos and Proxy4Nation

Things are heating up in the decentralized finance space (DeFi) and Equilibrium’s EOSDT stablecoin is leading the charge on EOS! Remember when paying online with a credit card was considered something risky that only early adopters would do? It didn’t take very long for that to change. The same thing is happening right now with DeFi. More and more people are getting comfortable with the idea of automated finance on the blockchain and DeFi volume is growing steadily. On-chain evidence of this trend was observed on EOS this week when Equilibrium posted a monster ~3x surge in 24h trading volume on NewDex!

Equilibrium allows users to deposit EOS to its smart-contract in order to mint EOSDT stablecoin in exchange. The voting rights of the 4M+ EOS currently locked up in the Equilibrium smart-contract is controlled by the Equilibrium governance token called NUT. The voting rights were initially allocated based on an off-chain voting competition, which was then replaced with an on-chain voting mechanism using the NUT token. The voting system will evolve again on November 2nd, bringing improvements such as voting for more Block Producers as well as eliminating the recurring voting periods.

Equilibrium is also planning their first annual “Crypto DeFiance” event to be held on November 16th in Singapore. This event is attracting big names in the decentralized finance (DeFi) space from both EOS and the wider blockchain community! It’s going to be the place to meet and network with leaders in the blockchain space while discussing hot DeFi topics!

Although Equilibrium’s EOSDT has the most liquidity of any DeFi project currently running on EOS, it’s not the only player in the game. Many people are attracted to the high performance of EOS, which allows for a smooth and enjoyable DeFi user experience when combined with its developer friendly framework. One such example is the Acueos platform, which was deployed on EOS on October 9th. Through smart-contracts, Acueos allows users to:

  • earn interest on assets lent
  • deposit assets to be used as collateral
  • borrow assets against collateral

On top of EOS and CUSD, the platform has recently added EOSDT to the list of available cryptoassets and plans to continue to list more cryptoassets in the future. We encourage you to try out these platforms and features and what better way to do it than with some EOSDT earned by staking to our proxy?

Having spent some quality time with the Equilibrium team in Rio, Brazil during the EOS Community Conference, we’re happy to be able to bring more attention to the initiatives of such a strong team working hard to enable new DeFi use-cases on EOS. As a show of support and to encourage wider adoption, we’ve modified our default proxy rewards portfolio to 90% EOS and 10% EOSDT. Proxy4Nation now supports four different assets (EOS, DAPP, USDT, and EOSDT) and users can easily adjust their rewards to a custom distribution of their choosing. Visit our blog at eosnation.io/blog for a tutorial on how to customize your proxy rewards.

Thank you for supporting EOS Nation by staking to proxy4nation!
StrenghtEARN the network! Your stake, your rewards.

Sign up to Proxy4Nation
Proxy4Nation Tutorial
Crypto Defiance Conference
Acueos supports EOSDT
New Voting Mechanism on EOSDT

Bancor's Creator.eco

Another big player in the DeFi space is Bancor who started out on Ethereum but is now also building on EOS. Through the simple yet powerful bancor.network wallet, users can easily trade from an EOS asset directly to an Ethereum asset by leveraging the power of multiple BNT relays in the background. EOS Nation is a big fan of the innovations that Bancor is bringing to the public blockchain space and we are proud to have built the EOS Nation Bancor Relay Portal that is now live at bancor.eosnation.io. Our portal allows users to easily add or remove liquidity from a Bancor relay, allowing them to own a portion of the relay and the corresponding value generated by the relay.

The latest Bancor innovation, Creator.eco, aims to abstract away all of that beautiful Bancor blockchain technology in order to reach a broader mainstream audience. The Creator.eco is a mass market platform built on EOS and is meant for non crypto users. Creator.eco digital content creators can easily generate their own tradable token that can be leveraged to reward their supporters in ways that generates more engagement. From offering bonus content, to private coaching sessions to much more creative ideas, content creators will drive value (demand) to their tokens, allowing them to mobilize their audience and convert them from consumers to active advocates for their channel.

EOS Nation Bancor Relay Portal
Creator.eco Platform
Long form interview with Eyal Hertzog of Bancor
Eyal's Creator.eco Channel

BOS Oracle

Building scalable dApps has never been easier and the team at BOSCore is hard at work removing obstacles that limit the number of use cases available for developers. In their latest Tech Update, BOSCore takes a look at the release of the BOS Oracle, which is a bridging layer that enables trusted response and messaging from external sources.

Using game theory and a staking model, the BOS Oracle balances the probability of fairness through incentive roles that are split up into data providers, data users and arbitrators. The “intelligent risk control” sees data providers stake tokens to it instead of directly to dApps and acts as an escrow. This mechanism allows dApps to provide more guarantees to its users. 

BOSCore Tech Update: BOS Oracle 

WAX ON, vIRL and Advanced Permissions

We often talk about the many gaming opportunities available for companies building on WAX, but the network offers much more than that. vIRL is a great example of a non-gaming company building on WAX. In short, every vIRL item is both a digital and a real-life item that you can Instant-Sell for cash on OPSkins, sell for profit, gift, trade, or have shipped to an address! It allows you to unbox a real-life item and sell it for a profit without ever having to actually hold the physical product! vIRL is taking an old school concept (unboxing items and reselling at a profit) to the next level by leveraging EOSIO blockchain technology and we absolutely love seeing that!

In other WAX news, EOS Amsterdam WAX Guild has been producing a variety of very useful tutorials, and last week they brought us one about advanced WAX permissions. The article covers topics such as:

  • Permissions structure in a default WAX account
  • Customizing permissions structure to include multisig and wait timers
  • Creating custom permissions (voteproducer, claimgenesis)

WAX CEO William Quigley has recently started becoming much more active on YouTube as part of their new “WAX ON” video series. The videos are well done and explain topics in an engaging way that’s easy to understand. Here are the titles of the videos released so far with more WAX ON episodes being published every week!

  • 5 Reasons Why Ethereum is a Terrible Solution for Blockchain Games
  • What are the Pros and Cons of EOS Blockchain?
  • Is TRON’s (TRX) Valuation Justified?
  • Should You Build an App or a dApp?
  • What Zuckerberg Should Have Told Congress About Libra

Still hungry for more WAX videos? Learn more about the great people behind the WAX project in their Team WAX Interviews!

WAX Project Highlight: vIRL
Advanced WAX permissions
WAX Employee Portraits

Ecosystem Updates

ITAM Games X Samsung Blockchain Wallet
ITAM Games proudly to announced that four ITAM games are now available for download and play on the Samsung Blockchain Wallet! Currently, there are four titles: DarkTown, The Onion Knights, CryptoFishing, and Spookiz Link Puzzle. They’re available under the DApps section of the Samsung Blockchain Wallet, and users with a Samsung Galaxy S10 or later version can access this new feature. 

BlockBase is a platform for secure and distributed storage of databases that uses an economic model to bind service requesters and service providers. Their unique airgrab model is distributing 45% of the token supply in a series of 24 monthly airgrabs that allocates fewer and fewer tokens per airgrab. An EOS account can only claim its equal share of 1 of the 24 airgrabs available, which adds a fun game theory element to the process. Are you going to grab yours now (1st airgrab ends Nov 8th) or wait for a future round that might potentially see fewer participants?

The BlockBase team has also announced that they’ll be hosting a booth (Pavillion 1 E140) at the Web Summit this week in Lisbon, Portugal. This marks the first time that EOSIO will be represented at the Web Summit and we’re thankful for teams like BlockBase that are introducing EOSIO to new audiences!

BlockBase Airgrab
Airgrab Model
Lisbon Web Summit

KROWN Fairdrop
The KROWN DAC, which aims to support and activate communities, has approved its first proposal: KROWN News! Visit the the medium page to get all the latest information, including details on their upcoming Multi-Fairdrop. Just like BlockBase, KROWN is also innovating on the airdrop model by scheduling many airdrops that will rewards holders of various coins like EOS, eosDAC, Karma, IQ, BOID and many more!

Welcome to KROWN News

Dappetizer & the Marble NFT
Coming onto the EOSIO scene in early October 2019, the Dappetizer team released the EOSIO Contract Template, which was the first product in their Dapp Development Suite. This week they introduced their 2nd product called “Marble,” which is a lightweight and modular NFT format that features:

  • Simple Interface
  • Verifiable Content
  • Low Resource Usage
  • Collection Control
  • Upgradeable Attributes
Marble Standard 
Follow Dappetizer on Twitter

NewFang – Decentralized Cloud Storage on EOS

Newfang is a decentralized cloud storage platform for DApps aiming to be a great alternative to IPFS and AWS S3. Their Alpha version has just launched and they’re currently offering free storage and bandwidth to developers. GenerEOS recently interviewed the NewFang team and covered a variety of topics surrounding the team, their previous experience, the philosophy behind NewFang and their vision for the future.

NewFang Webiste 
GenerEOS Interview with NewFang
Thanks for reading this week’s edition of EOS Hot Sauce!

EOS Nation is a top Block Producer on the EOS public network. We earn inflation rewards based on the percentage of tokens staked towards us. Those rewards are reinvested into EOSIO community, tools, and infrastructure. Help grow the ecosystem by staking your vote to eosnationftw for BP or proxying to proxy4nation

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Daniel Keyes

Chief Operating Officer (COO)
Responsibilities include: product management, operations, community
Location: Toronto, Canada

Prior to founding the first EOS community in Toronto and co-founding EOS Nation, Daniel spent a decade in the financial technology industry working several diverse roles. His extensive experience in customer service, sales, sales coaching, agent training, digital marketing, digital process management (lean green belt), and product management (certified scrum master, certified product owner) eventually lead him to consulting for a blockchain dev shop.

Daniel earned a Bachelor of Journalism from Ryerson University in 2009 and worked as a chase producer intern at Global TV.

Daniel lives by the principles of Truth, Love, and Freedom.