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- EOS Nation partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and fund liquidity pools for any EOS tokens.
- For every trade, a certain payment of fees is required, but the pool needs a sufficient level of liquidity so that the token prices do not get affected too much.
- The EOS Nation CEO, Yves La Rose notified on this big deal that the launch of xNation will benefit to add more DeFi into EOS.
Recently, EOS Nation has partnered with Bancor to launch a new platform called xNation. With the help of this platform, the user can introduce and fund liquidity pools for any EOS tokens.
Benefits of this project
The liquidity pools are automated market-maker smart contracts that offer users to buy and sell tokens instantly with on-chain transactions and with no need for an order-book. For every trade, a certain payment of fees is required, but the pool needs a sufficient level of liquidity so that the token prices do not get affected too much.
With the usage of xNation, any user can create a liquidity pool or fund it, so that they will gain a part of fees created by the pool with the same proportion to the amount of liquidity that has been funded.
Relevant in terms of DeFi on EOS
In terms of DeFi on EOS, it generates an added source of income for token deposits. It helps in increasing the liquidity of the available tokens. By using this platform draws chunks of trade volume, therefore, a significant amount of fees is gained from trading. And lastly, it offers greater flexibility to the community in trading tokens.
The EOS Nation CEO, Yves La Rose notified on this big deal that the launch of xNation will benefit to add more DeFi into EOS. He added more the companies have Decentralized Finance, it will gain more arbitrage opportunities and more bots for making different trades between different platforms.
Bancor is a decentralized exchange on Ethereum and an on-chain liquidity protocol for the creation of Smart Tokens.
