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2020-04-01

xNation released: new DeFi platform on EOS

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EOS Nation recently launched a new platform in partnership with Bancor: xNation. Through xNation anyone can launch and fund liquidity pools for any EOS token. What benefits can this project bring to EOS DeFi?

The liquidity pools are automated market-maker smart contracts that allow users to buy or sell tokens instantly through on-chain transactions and without the need for an order-book. Each trade requires the payment of a fee, but every pool needs an adequate level of liquidity so that the tokens price does not vary too much.

Through xNation, anyone will have the ability to create a liquidity pool or fund it, so they will receive a portion of the fees generated by the pool in proportion to the amount of liquidity that has been funded. Why is this relevant in terms of DeFi on EOS?

  1. It generates an additional source of income from tokens deposits.
  2. Increases the liquidity of the tokens present
  3. It attracts more trade volume, therefore more fees from trading
  4. Gives greater flexibility to the community in trading tokens

"This adds more DeFi into EOS. The more Decentralized Finance we have, the more arbitrage opportunity, the more arbitrage opportunity the more bots we'll have making different trades between different platforms. Further increasing liquidity between platforms for these projects." - Yves La Rose, EOS Nation CEO (at EverythingEOS)

To find out how to use xNation, read this tutorial by Bancor


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