Cryptocurrency Loan Network Using REX for Idle EOS Staking
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Solution Overview
Problem
The inefficient allocation of EOS staked resources on the EOS Mainnet blockchain network leads to scarce network resource usage, resulting in idle resources and suboptimal utilization.
Innovation Solution
A REX (Resource Exchange) system is implemented, allowing users to lease their EOS staked resources, enabling passive income through the acquisition of REX tokens, which are redeemable for EOS, and a dApp called DCMICROLOAN processes loan creations and payments, utilizing a portion of the EOS loan payments to stake with REX for passive income generation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users stake EOS tokens in the DPoS system, then network security and validation are improved, but resource allocation efficiency deteriorates due to idle staked tokens
Solution Approach 1:
The system enables staked EOS tokens to generate passive income automatically through the REX protocol without requiring active management from users. The staked tokens self-generate T-REX tokens that can be redeemed for EOS with interest, creating a self-service mechanism that improves resource utilization while maintaining network security.
Solution Approach 2:
The REX protocol acts as an intermediary between staked EOS tokens and the EOS network resources. By introducing T-REX tokens as a mediator, the system allows users to lease their staked EOS resources to the network while maintaining ownership, thereby improving resource allocation efficiency without compromising security.
2Adaptability or versatility
If users hold staked EOS tokens for network participation, then decentralized governance is improved, but passive income generation deteriorates due to lack of utilization mechanisms
Solution Approach 1:
The REX protocol enables staked EOS tokens to automatically generate passive income through T-REX tokens without requiring users to actively manage or trade their tokens. This self-service mechanism allows users to maintain their staked position for governance while simultaneously generating income, eliminating the trade-off between governance participation and income generation.
Solution Approach 2:
The system establishes a continuous passive income stream through the accumulation of T-REX tokens that can be periodically redeemed for EOS with interest. This continuous action allows users to maintain their staked EOS for governance while continuously generating income, rather than requiring periodic active management.
3Extent of automation
If the system implements a lending protocol with smart contracts, then automated loan management is improved, but system complexity deteriorates due to additional protocol layers
Solution Approach 1:
The lending protocol merges the REX resource exchange functionality with the loan management smart contracts into a unified system. By combining these functions, the protocol reduces overall system complexity while maintaining automated loan management, as the same infrastructure supports both resource staking and lending operations.
Solution Approach 2:
The smart contract system is designed to serve multiple functions: it manages both the REX token staking mechanism and the loan lending/borrowing operations. This multi-functionality reduces the need for separate dedicated systems, thereby reducing overall complexity while maintaining comprehensive automated management capabilities.
Data Source
AI summary
A cryptographic blockchain computer network digital cryptocurrency loan system that rewards both the loan holder and the loan paying network users with system utility fund tokens for each loan payment made. System utility fund tokens entitle the system users to receive dividend distributions of passive income from a system digital cryptocurrency investment fund.