REX is a Resource Exchange on EOS, officially launched on May 1st 2019. It is a marketplace to allow risk-free leasing of network resources, CPU and NET. Our REX portal simplifies the complicated process of REX by allowing you to earn directly with your EOS. As fees from CPU/NET borrowers, namebids, etc. flow into REX, the value of your loaned EOS will go up.
REX allows dApps to rent bandwidth for a fraction of the capital cost of owning and will encourage adoption of EOS. Token holders are able to lend EOS to REX by staking their resources, and will be rewarded by the current fee. To lend EOS to REX, you must stake and you must be voting for at least 21 BPs.
It is important to note that borrowing CPU/NET is for dApps to buy resources only, you will not get the EOS spent back.
A diagram of how REX works on EOS Mainnet
- 1.Lend as much EOS as you want.
- 2.Wait at least 4 days for your loan to be processed. You earn more interest the longer you wait.
- 3.Unlend when you are ready, you will receive original lent amount + interest.You are guaranteed 100% of your original lent amount as lending/unlending does not change the price.
It will autofill with the 100% of EOS in your account, but you are free to enter whatever amount you’d like, or use the buttons below to easily select a percentage of your EOS owned.
NOTE: If you are not currently voting for 21 BPs or proxying your vote, Bloks will automatically proxy your account to blokspartner to allow your account to be eligible to use REX. See our proxy post here.
It takes approximately 4 days for loaned EOS to be processed. The example below shows that you have to wait until Sat, May 4, 2019 6:00 PM to Unlend your EOS.This page allows you to lend liquid EOS.
Other functions we have available for REX on Bloks.io:
- Lend Staked EOS — If your EOS is already staked, you can lend Staked CPU and NET to REX directly without waiting 3 days for unstaking.
- Borrow CPU/NET — You can borrow for yourself, or another account, the required amount of CPU or NET at the current rate listed.
- REX Stats/Charts — Displays # of Total Loans, Total REX, Total Lendable, Total Borrowed, Total Unborrowed, Borrowed Percent, Total Interest, REX Price and Resource Price, as well as the 7 day REX Price History.
- Savings— Your current account information including Liquid Balance, Processed Loans, REX History and the ability to move Liquid Loans into Savings Loans. Loans in Savings cannot be sold immediately and it takes 4 days to move them out of savings. This is a security feature.
- REX History— Shows all REX related transactions (ex. Unstaking to REX, Lending to REX, Unlending REX, etc.).
When you reach the mature day of your EOS in REX, you are able to Unlend. You can select the full amount or auto-calculate by the percentage buttons.