Why is there no USDT on the EOS chain (EOS has no dealers)
Why is there no USDT on the EOS chain? Editor\’s note: This article is from Oran
Why is there no USDT on the EOS chain? Editor’s note: This article is from Orange Book (ID: chengpishu), authorized to be reposted by Odaily Star Planet Daily.
Why is there no USDT on the EOS chain? The hottest term in the blockchain industry is “transactions” because it is a decentralized, transparent, and secure world. The biggest exchange in this world is Bitcoin, and its issuance speed is very fast. Therefore, as long as users enter their private keys, they can send it to any wallet. However, when you want to transfer funds from Bitcoin to Ethereum, your funds cannot be transferred. What does this mean? This is what we call “transactions”. So, the essence of “transactions” is still the meaning of transactions. If you don’t want to spend a lot of time studying transactions, you need to first understand the relationship between trading pairs and other assets, such as Bitcoin, Ethereum, and other cryptocurrencies, and then think about how to better use these digital assets for trading or investment. Of course, there are also some things about DeFi, such as cross-protocol borrowing, etc. But these things do not actually exist in the blockchain world, and they are not directly related to each other. If a project wants to create a financial application, it must use smart contracts to develop and execute it.
Currently, most mainstream public chains have adopted a technology called “FlashLoans”. That is to say, FlashLoans is a peer-to-peer payment system, similar to Alipay’s payment system, which can provide such services without a bank account. However, with the recent continuous rise in the price of USDT, the market’s attention to this technology has also been increasing. People have discovered that USDT can be used as a store of value. There are many reasons why there is USDT on the EOS chain. First of all, everyone needs to know that USDT is not a trustless ERC-20 token, but a stablecoin hosted by a third party. In addition, USDT provides a transaction fee reward to users who participate in trading through collateralization. Although most of the addresses using the EOS chain are currently stolen, the platform cannot gain profit because users have control over their private keys, mnemonic phrases, and passwords in the private keys, and in order to avoid losses, hackers sell all funds to the attacker’s account. The second situation is that after the launch of the EOS mainnet, a large number of DApps appeared, and many of these DApps will automatically run EOS-based applications and allow them to create various DApps. In addition to games, users can also set their own identity information on it and easily publish their content, including posting discussions or Twitter interactions, etc. The third situation is that at the launch of the EOS network, the EOS node itself did not generate income.
EOS has no dealers
According to reports, according to OKLink data, the EOS mainnet has resumed block time of 12 seconds. At present, nearly 400 blocks hold enough tokens in eosio.saving, but only a few of them are controlled by dealers (accounting for 5% of the total supply) or have no circulating tokens. Therefore, even in the previous voting process, a considerable portion of the tokens in eosio.saving were allocated to some long-term supporters to help maintain and promote the development of the network.
In addition, today’s media analysis believes that the largest dealer on EOS may be Bitfinex because they manipulate market prices, and these transactions are initiated by exchanges, so the intervention of dealers will affect the entire market.
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