Dan Larimer proposes a REX( Resource Exchange) where EOS holders can lend their tokens to. They will receive REX tokens for their EOS at the current book value of the REX. Your staked EOS is then converted to SEOS and these SEOS are then available as rented resources.
Dan Larimers Example
A Dapp would like to transact once per minute. That would require them to hold about 15000 EOS tokens. Lets say you have 15000 tokens and you decide to rent them out for a market price for a 5% fee. The cost for the Dapp would then be 60 EOS per month for using the computational resources. The fee will then go to you as the owner of the 15000 tokens. You will then receive a income stream of 60 EOS per month. The Dapp would be buying 15000 SEOS for 60 EOS.
How Much Will I Get Paid?
The market will decide. Income potential from 4 different sources. CPU, Bandwith and Ram trading fees as well as Name auctions fees. And even future initiatives.
REX Account Is Being Built
It’s being built by Block.one, and in order to qualify to use it you need to vote for 21 block producers.
This is definitely exciting news, and although it might seem complicated right now, keep in mind that this is 1989. If you are around 35 years old you might remember your dad doing some things in DOS when something didn’t work. This is those days. You learn to maneuver the Blockchain at an early stage. In 5-10 years people won’t even know or realise they are using EOS – just like people have no clue how Android works on their phone or their OSX works on their Mac. They just use the apps and it’s streamlined. They don’t have to interact with their backend. People won’t have to interact with the Blockchain in the future.
Make no mistake, we are in the experimental phase. Everything you learn now is extremely valuable.
Is this a great proposal by Larimer? I think so. I could be wrong, but this is an experiment and they are coming up with some pretty amazing ideas. What do you think?