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What is REX?
REX (Resource Exchange) started as a proposal by Dan Larimer on Aug 2018. The idea is to be able to allow token holders to Lease out their spare EOS tokens to Dapps or others that need resources in return for "rent" and access to community funds like RAM fees and name auction fees.
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What are the risks of REX?
REX is a system contract and will be deployed on the account eosio.rex. There is no third party which means you don’t trust anyone. As an holder you convert your EOS into REX. When you sell REX you will get your EOS back or more. Never lesser than what you put in.
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What kinds of returns are expected?
REX returns will vary constantly based on activity on EOS. The REX tokens increase in value as other fees are added to the eosio.rex account from namebids, ram fees and payments to lease the tokens.
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Is there a voting requirement?
REX enforces a voting requirement prior to being able to lease out tokens. To be able to hold REX, the token holder will have to vote for a proxy or a minimum of 21 Block Producers. If you chose to use a proxy to assign your vote weight, the proxy can choose between 0 or 30 Block producers to support.
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Can I lock away my EOS tokens like how I stake them?
We requested this as an opt-in feature to Block.one. Now as part of REX Release Candidate 2 released in February 2019 you are able to move your REX tokens into a savings account. This essentially gives you a 4 day wait period before your REX tokens can be converted to EOS.
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Are my tokens locked or inaccessible?
There is a 4 day maturity period. When you convert your EOS tokens to REX, the system enforces a 4 day wait period before you are able to convert them back into EOS tokens. After this 4 day wait period, your tokens can be converted instantly to EOS tokens. There is a potential 30 day wait incase of a liquidity crunch.
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How do I get ready for REX?
REX is very close to final deployment after months of development and testing. If you are a token holder that holds EOS on a wallet, no further action is necessary at this stage. You don't have to unstake your tokens. If you haven't used EOS on the mainnet, just pick a wallet like Scatter and wait for an announcement on this page.
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What’s the EOS:REX ratio?
When you use 1 EOS to buy REX, you will get REX based on this ratio. This is set on launch to 10,000. Which means a 100 EOS used to buy REX will give you a million REX tokens. This ratio does not change as REX tokens are bought or sold.
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Where can I get REX?
REX will be available soon but it is not here yet. We will have an easy to use and clear interface for the community to use. We will release it on this page only when REX is live. Keep this page bookmarked.
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What if I need to buy CPU resources?
All tokens are leased out for 30 days. As a Dapp or token holder looking for CPU, a payment is made for the resources and the system will assign EOS tokens based on bancor rates. We are able to estimate the amount of tokens but the actual leased out tokens could vary based on demand. The voting requirement does not apply.
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When can I expect to see REX in action?
REX is ready for deploying after development by Block.one and testing by EOS Authority. Block.one have been amazing and responding to a lot of feature requests. We've also uncovered bugs in the early release candidates which they have fixed quickly. We are now preparing the final deployment steps. Stay tuned for frequent updates here.
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Will I get airdrops?
If you move your EOS tokens to REX, these tokens are still held on your account and will be visible on snapshots used by airdrops. It should be an easy to include your full balance.
