The team at Chintai.io have been working hard for the past 12 months or more developing their token and exchange. Initially they had setup a tool to purchase resources on the EOS network (CPU and RAM) then the REX was released. They are now developing a token trading and leasing platform technology. Eventually this technology will encompass a range of other products including NFT's.
The token behind this developing technology is the CHEX token. This token was auctioned off over a few months and can now be traded and swapped on various EOS exchanges and DeFi platforms. The CHEX token will form the base unit for the Chintai platform and holders will be able to stake to a collateral pool and receive CHEX tokens just for holding.
Information from their whitepaper (https://chintai.io/chintai-tokenomic-model.pdf) shows how staking to the collateral pool will work:
Stake - Collateral Pool
CHEX holders will have the option to stake their tokens to the collateral pool for high risk-high reward opportunities. The collateral pool will decouple the risks normally associated with offering loans using other tokens.
For example, users of Chintai will be able to lend their tokens to margin trading pools, and will receive fees from margin traders for doing so. Usually, this involves an element of risk, because it is possible that the margin trader can not fully pay back the borrowed liquidity. We can remove this risk for the margin pool lenders by shifting it to a special collateral pool consisting of
CHEX token holders. In the case of a margin trade causing a default, the lost funds will be taken from the CHEX collateral pool.
The incentive to add your tokens to the CHEX collateral pool is the high reward that would be received from margin fees. A fraction of the fees from every margin pool would be converted to CHEX and paid as rewards to the CHEX holders who take the collateral risk.
Currently the pool is open for staking CHEX and the Borrowing for the Merchant Network is to be released soon. Already there are 178M+ CHEX tokens in the pool.
Could HIVE tokens such as $SPT and $LEO be offered on the EOS network and traded through the Chintai platform too?
Thanks for reading.
