DeFiBox Building Blocks
What is DeFiBox?
Launched on 21 July 2020 by the Defibox Foundation with funding and support from Newdex, Defibox (https://defibox.io) is a one-stop platform for decentralised financing (DeFi) made with the EOS blockchain. DeFiBox provides three main services, a token swap exchange called SWAP, a decentralised staking stable coin called USN and a decentralised lending application for staking.
These three services have been very important to the DeFiBox community and supported the community with their cryptocurrency finances.
Where does DeFiBox stand?
DeFiBox is unique because it is a decentralised financing application that is based on the EOS blockchain unlike its competitors Aave, Compound and Uniswap that is based on the Ethereum blockchain.
DeFiBox has an overall ranking of being the 83rd most popular decentralised application and the 6th most popular EOS decentralised application.
The profitability of DeFiBox is undisclosed. However, the BOX tokens issued by DeFiBox have a fully diluted market capitalisation of about $112 million as of the time of writing this article. With a $3.54 million trading volume, there is good trading volume for the token issued by DeFiBox.
Community Feedback
According to Is This Coin A Scam website, DeFiBox has status scores that are not very flattering. DeFiBox has a Development score of 0/10, a Sentiment score of 0.9/10 a Community score of 2.5/10, an Awareness score of 0/10, a credibility score of 3.6/10 and a maximum Volume score of 10/10.
However, DeFiBox has received a glowing review from a user(@frankydoodle) on Steemit that clearly explains the various features of DeFiBox. There have also been various Reddit users vouching for the reliability of DeFiBox. Users should still use the DeFiBox platform at their discretion and make an informed choice.
How can DeFiBox have Higher Profits?
To enhance the financial services available to the community, DefiBox can look into providing users with credit cards and debit cards for personal financing. DefiBox is already providing existing users with loans at competitive interest rates and the provision of DefiBox credit and debit cards will let users make everyday purchases with their cryptocurrency. This will go a long way to help users with their personal finances and cryptocurrency investment.
Conclusion
DeFiBox offers a comprehensive set of services for the EOS community for decentralised financing. Moving forward, DeFiBox should expand the services available to users and offer users credit cards and debit cards for personal financing. The feedback that DeFiBox Foundation receives from the community should also be published to increase the transparency of the Decentralized Autonomous Organization.
Resources
https://dappradar.com/eos/defi/defibox
https://isthiscoinascam.com/check/defibox
https://support.defibox.cc/hc/en-us/articles/900002599906-About-Us
https://www.reddit.com/r/eos/comments/mov77q/defibox_not_working/
— — — — — — — — — Defibox essay Contest Submission — — — — — — — — https://defibox.io/activity/article
