Defibox — a one-stop DeFi application platform. Defibox aims to become the most popular DeFi application platform among users. At present, Defibox has launched three protocols, namely the exchange protocol, the USN stablecoin protocol and the decentralized lending protocol.
About the Defibox project
As Defibox's governing community, BOX DAO improves project development through proposals and voting to achieve greater decentralized autonomy. Swap is a decentralized token exchange and AMM (Automated Market Making) protocol. It provides real-time swap prices with a constant product algorithm, and users can also create swap markets and become market makers. The transaction fee is distributed among market makers, depending on the share of liquidity.
The USN stablecoin - a decentralized staking coin. It was launched on January 17, 2020 and has become one of the core protocols of Defibox 3. USN stablecoin (target, pegged to USD) is generated by staking multiple valuable tokens that can meet various financial needs such as trading with leverage and obtaining capital liquidity. It uses an overcollateral and liquidation mechanism and provides support for the value of the USN with sufficient collateral.
The BOX token is issued on all chains with a total supply of 5 million, which is issued linearly from 0, using the DeFi protocol mining scheme. No private sale, no reservation, no pre-mining.
Release plan of the BOX tokens:
| 70% | BOX is used for DeFi mining. |
| 3% | Eco fund. |
| 2,5% | Incentives for DefiboxDAO operations. |
| 7% | Special fund for work. |
| 10% | Application reward. |
DefiboxDAO will explore multiple chains and will "plug" the three main Defibox protocols on multiple chains to achieve "multi-chain operation". After evaluating and determining the feasibility of a multi-chain solution, the three main Defibox protocols will be “plugged in” to multiple chains. Depending on the actual situation, it may be possible to "connect" different protocols to the most appropriate smart chain.
More about the BOX token
BOX — a managed DeFi token and its value is primarily determined through governance. BOX holders can vote to determine important DeFi protocol parameters such as Swap protocol transaction fee rate, USN stablecoin interest rate, USN stablecoin liquidation penalty, etc. They can also vote to determine various proposals such as a revenue sharing scheme of the DeFi protocol and a logical adjustment of the DeFi protocol. Since BOX holders have the right to determine important parameters of the DeFi protocol, they will become participants in Defibox decision making, and BOX holders will benefit from governance.