After many months of development and testing, Chintai.io token leasing platform has officially launched on the EOSIO Mainnet! Chintai is an open-source application which enables anyone to lease out the network resources associated with their EOS account (NET and CPU) to earn extra EOS.

Why should you be using Chintai?

By design, The total supply of EOS tokens is growing at a rate of 5% annually (See here: https://medium.com/eostribe/how-eos-block-producers-are-paid-7b2a1216eb2b). Leasing your idle network resources is an easy way to passively invest the tokens that you aren’t using so your holdings aren’t diluted by inflation.

Who built Chintai?

Chintai is a fee-less open source platform developed and supported by some of the top block producers on EOSIO Mainnet.

How does Chintai work?

In a nutshell, your tokens must be unstaked and transferred to a smart contract with a memo containing your desired lease terms. When this lease order is matched, the funds are delegated and your interest payment is sent to your EOS account. Your lease order may be cancelled at anytime before it is filled. At the end of the term, the EOS is unstaked and sent back to your EOS account. This smart contract was deployed to an account named chintailease – which is a multisig account permissioned to many of the top block producers on the EOS mainnet.

Lease terms can be set to 7, 14, 21, or 28 days. Please note, on the chintai leasing platform, the rates are quoted based on the percentage earned over the term of the lease, so adjustments may need to be made to compare potential APR. Also, it takes 3 days to unstake EOS once it is leased out, so you lose time in which the tokens could otherwise be rented during this cooldown period.

Given these facts, to earn 1% annually from leasing tokens on Chintai, here are the rates that need to be achieved for each lease length:

7 days = 0.02740%

14 days = 0.04658%

21 days = 0.06575%

28 days = 0.08493%

Good luck!

Recommended user guide for chintai:

User guide: https://drive.google.com/file/d/1OQYfbEsyfixrOOUxfMtguRlDWAW0N5If/view

How chintai is secured:

https://medium.com/@eos42/chintai-pioneering-the-evolution-of-exchange-security-28742ff94ede

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Responses

  1. Chris

    Please don’t use this platform until they fix it, or verify that user’s funds are safe. As a test I rent’ed 200 EOS for 21 days at a rate of .45%. My order got executed within a second, but no record of my transaction shows up anywhere on their site. Thanks for EOSAuthority for sending me a record of the transaction. Still, I don’t feel comfortable with my EOS being unaccounted for. Update, they apparently ‘fixed’ the problem, asked everyone to clear their browser cache and try again. I did so, on 3 browsers, and my transaction is still missing. It’s sad that so many BPs have put their faith in a shit product like Chintai.io – and shame on you, author of this article for recommending something you have NOT tested.

    (-1)