What is BOS REX?
REX means Resource Exchange. It is a system in BOS(and EOS) which enables token holders to loan their tokens to developers in exchange for profit(more tokens).
To developers who want to build DApps on BOS, this means cheaper access to resources as that they can rent BOS tokens and save cost instead of buying it. Before REX, developers must own BOS tokens. They must buy BOS and stake them to gain access to RAM, CPU and bandwidth to build their DApps.
The big buy.
On the 5th of January, a BOS user spent 1.17million BOS to rent over 22million BOS REX and this caused a massive increase in the price of BOS REX because the user basically bought all the REX in the market. Before he made the purchase, 1 BOS could only rent several thousand BOS for a month. This purchase increased the prize of BOS REX such that 1 BOS could purchase only 2 BOS REX per month.
The beneficial effect of this purchase is a phenomenal rise in the APR (in the last 24hr) for BOS. BOS hodlers who staked their BOS to REX should be overjoyed because they are enjoying an insanely high APR of approximately 70%. But it’s not just the early BOS hodlers who can benefit from this. If you got your BOS sitting on an exchange or staked to yourself, you can quickly stake them to BOS REX right away and plug into this phenomenal APR.
It is noteworthy that bos.bloks.io explorer and some other wallets may display the average APR in a year or in a month. Such display would show the APR as significantly lower and it would differ from others like newpool.io which shows the APR in the last 24hours or APR/Yday (APR as at yesterday). The reason for this disparity is obvious. The big buy happened a few days ago and before then the APR was significantly lower and as such when the monthly or yearly average is taken, it would be lower.
How to stake your BOS to REX
1. Log into your BOS account using your favourite EOSIO wallet.
You can use any BOS enabled wallet to stake your BOS to REX. The tutorial in the video above makes use of TokenPocket mobile wallet. You can also use bos.bloks.io explorer or other wallets.
2. Deposit your BOS to REX Fund: Input the amount of BOS you want to stake to REX and click on “Deposit REX Fund”. The process is not complete after depositing your BOS into REX fund. Scroll down!
3. Use your REX fund to buy REX: Use your REX fund to buy REX. This is where your BOS is actually staked to REX.
After performing these three steps, you can start enjoying the high BOS REX APR.
Conclusion
BOS currently has the highest REX APR in EOSIO. Compared to other blockchains like Tron, IOST, e.t.c, BOS also has the highest ROI. This is as a result of “the big buy”. No one knows who made the buy, nor what anyone would want to do with over 22million BOS for a month. This demand for BOS REX does not seem natural and if it does not continue, there would be a significant drop in the APR after 30 days(when the 1.1m BOS lease expires). In the meantime, BOS hodlers would enjoy their phenomenal APR.
Disclaimer: I’m a BOS hodler and I work for BOSCore. I’m not a financial adviser and none of my articles should be considered as financial advice.
