DeFis Network: a new path to the EOS platform decentralization and transformation
One of the main problems of the existing financial system is the fragmentation of services: the infrastructure of many platforms and companies is fragmented and not connected. This imposes many restrictions on users and makes financial products difficult to access.
To solve these and other pressing issues of the financial industry, developers strive to provide open blockchain platforms so that users can connect and access digital financial services from anywhere in the world. Their goal is to break down barriers and provide access to global liquidity via blockchain. DeFis Network is one of such projects. In this article, you will learn what DeFis Network is and how its ecosystem works.
What is the DeFis Network?
DeFis Network (https://defis.network/) (or DFS Network) is an open financial network that combines multiple DeFi protocols. The platform aggregates the decentralized market liquidity and provides access to a wide range of digital assets that users can exchange and use in a united ecosystem
There are three main levels of the DFS Network platform:
- Delegated voting system. This is an improved method that was previously implemented in the EOS network. Crypto holders can delegate their DFS tokens based on the results of a referendum that decides which nodes an account can vote for.
- Donation system. DFS holders can donate any number of tokens, which can then form a mining pool. Each donation will be recorded in the blockchain.
- Tokens mining system. Users can add their tokens to the pool and earn income, which will depend on several factors: liquidity, pool size, trading activity, and others.
These levels are interconnected and form the DeFis Network ecosystem. EOS holders delegate their tokens to the DFS community, receiving a qualification for mining other tokens — TAG.
How does DeFis Network?
Unlike many other blockchains, DFS Network forms a single infrastructure for voting and mining. The founders of the project created the Angel Foundation, which is deployed on the EOS public blockchain.
Voting nodes form stacks of proxy tickets, which, after filling, distribute EOS tokens daily among new projects. Defis Network added the Angel Grant feature, which is designed to control the distributions of rights for additional EOS that are distributed among project developers. Also, holders can vote twice.
Additional EOS tokens are used to support new developments aimed at improving the DFS Network infrastructure. The Angel Grant function can be considered an analog of crowdfunding. Many blockchain projects have such funds to finance promising developers: Ethereum (ETH), TRON (TRX), Polkadot (DOT), and others. But Defis Network Foundation offers a more advanced grant system: successful projects can return invested funds to the Fund or donate part of their profit through the platform’s donation system.
The DFS token
The Defis Network project combined varied functionality into a single DeFi platform that connects several markets. The following functions are available to holders of the DeFis tokens::
- Token trading on a decentralized platform (Swap);
- Voting (Vote);
- Liquidity mining (Pools);
- Staking (DSS);
- Decentralized applications (DApps), including EOS DeFi.
For example, EOS DeFi (http://eos-defi.sgxiang.com/) provides EOS token holders with swap, mining, landing, and NFT applications.
The DeFis Network Protocol smart contract automatically distributes dividends among DFS holders, depending on how they chose to earn income.
Token specifications
Ticker: DFS
Total supply: 1 415 428 DFS
Maximum supply: 10 000 000 DFS
Price: $5,02 USD
Defis Network opens a new path for EOS development and improvement of other protocols, combining fragmented markets into a single DeFi ecosystem.
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