EOS Nation REX Upgrade Proposal

EOS Nation recently submitted the on-chain proposal upgrade for the resource exchange (REX) in accordance with the specifications provided by Block.One. The multisig has already been approved by more than 15 BPs so the changes have been applied to the EOS mainnet.

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Changes:

30 day/12 hour REX staging pools

In previous releases of the system contract, the proceeds from CPU and NET loans, RAM trading fees, and name auction bids were immediately added to the REX pool which effectively distributed those proceeds pro rata to REX holders instantly. In this release, the proceeds are instead first collected into a staging pool within REX and then gradually distributed to REX holders linearly with time over a period of 30 days starting within 12 hours from the time at which the proceeds were collected into the REX staging pool.

Threshold percentage from 20% to 10%

In prior releases, REX ensured that a sell order could not cause the amount of unlent tokens to become less than 20% of the amount of lent tokens (or equivalently that the unlent fraction of the total tokens held by REX could not go below one-sixth due to a sell order). This release lowers that threshold percentage from 20% to 10% which means that a larger fraction of tokens in REX can be lent out before further sell orders are forced into the sell queue.

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Sources:

• REX Contract updated by Block.One
• EOSIO.Contracts v1.8.3 Release Notes

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