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Blog

Date:
22nd Oct 2020
Author:
CryptoAltum Research Team

Block.One Keen on Expanding EOS-Based DeFi dApps

The official publisher of the EOSIO blockchain, Block.One, is willing to support the growth of EOS-based open finance dApps, its co-founder, Brendan Blumer has said. The executive said they have been actively searching for a project to invest in provided they are compliant with all the rules set by the company.


Details:

Open finance is already revolutionary according to the chairman of the United States commodity Futures Trading Commission, Heath Tarbert. DeFi, as per analysis, is behind the recent price expansion of ETH despite the pioneer platform’s inherent trouble with high transaction fees. If DeFi finds root in EOS, a scalable and secure platform, it could help drive its utility and demand for EOS coins used for payment of fees. 


Impact on the EOS Price: 

Bullish. However, there should be activity and DeFi-triggered trading volumes should pick up before there is significant demand to buoy EOS prices. For now, the infrastructure is being laid out and the commitment from Block.One is massive for EOS prices and DeFi as a developing finance sub-sector.


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