Introduce the dToken and EOS Vault
EFi commits to bringing DeFi to EOS. For the past few weeks, we have tried our best to develop all the features we think that is important to EOS DeFi.
The aggregation platform, Diamond, which has already been known by the EOS ecosystem and successfully increase the supply of USDT to over 90 million. The cross-chain asset bridge, eHub, which is under development. The better swap on EOS, Dolphin, which is on its stage 1. We are so proud that we have made that much in such a short time, and we appreciate the support from the whole EOS community.
Now, it is time to disclose the dToken and EOS Vault.
What is dToken?
dToken is a token that reflects the original token on EOS. And its price will be 1:1 if there are no other factors.
dToken aims to solve the problem that when you stake your tokens, your tokens are frozen and cannot be circulated. With dToken, you can get both the staking reward and use it as the original token.
What is EOS Vault?
EOS Vault is a vault that use EOS to earn more EOS, the token that earned will be added to the vault. The vault will choose the best strategy to help earn token and convert it into EOS.
As we introduced above, dToken will empower the original token and EOS Vault will bring more value to the EOS token. And we are here to bring these two together, the dEOS and the EOS Vault.
Initially, if you stake your 1 EOS to EOS Vault, the contract will issue 1 dEOS to your account. And if you return 1 dEOS to the contract, it will burn 1 dEOS and return 1 EOS to your account.
As time goes on, the vault will earn more EOS and put it into the vault, your dEOS’ value is larger than 1 EOS. Meanwhile, you can’t get 1 dEOS when you stake 1 EOS to the vault, but there is no loss.
With the completion of stage 1 of DolphinSwap, we will provide a EOS/dEOS LP pool for all dEOS holders.
With this liquidity pool and dEOS:
1. You can enjoy the profit of the EOS Vault.
2. You can use your dEOS to swap to any other token on EOS.
3. Token reward (like DOP or BOX or DFS) from providing liquidity.
4. You can use dEOS to lend USDT and other tokens on Pizzalend.
Vault Profit Distribution
1. 90% will be converted into the vault token, for example, will convert into EOS in EOS Vault.
2. 10% will be converted into DMD
(1) 6% will be vested to DAO
(2) 3% will be vested to team
(3) 1% will be vested to strategy fee