Introducing Ebox - a Safe Haven for DeFi Users
PRESS RELEASE. Even though the blockchain ecosystem is often said to be in its infancy, the relative newness of the underlying technology has not stopped the continuous influx of new innovations into the space during the past few years. Among the unique ideas that have sprung out in recent years is that of decentralized finance (DeFi), a broad ecosystem replete with game-changing financial services, operating through the means of smart contract technology.
If the blockchain ecosystem were to be compared to an ocean, the DeFi world is a vast sea within that, brandishing its own diversity. Inviting constant improvement, the advent of new blockchain applications through DeFi further extends upon existing offerings in the space. One of the fastest-growing uprising DeFi projects solving not one, but many everyday problems that can affect every DeFi user, is ebox.
ebox’s Tailored Innovations
ebox is a product of profound understanding for the situation of blockchain users and their needs, paired with diligent research. Since its inception in early 2021, it has grown to become a trusted provider of services with a unique character, bringing straight-forward innovation and usability to end-users and businesses alike.
The ebox ideology is simple: Creating solutions that help make crypto safer, more secure and more accessible to everyone. The platform has a number of core applications, the most important being described subsequently:
- On-chain Escrow: The On-chain Escrow service is the flagship product of ebox. Given by the immutable nature of the blockchain, users are predisposed to loss of funds. This potentially fatal situation can come about as a result of wrong or mistyped wallet addresses, and other basic human errors. The ebox escrow service completely alleviates this danger by giving users the ability to cancel or revert transactions even after they have been sent. With password-protected transactions through ebox, smart contract logic makes sure that a transaction gone wrong will never cause any harm again.
- Trustless OTC Trading: Aside from setting up a trade themselves, users looking to trade their crypto directly with other users have few to no viable options, which leaves huge room for users being scammed and trades going wrong for various reasons. Solving this problem, the ebox OTC trading service enables users to request funds from another person. Only when the requirements of both parties are met, the trade is fulfilled and users can retrieve their share of the trade through the ebox smart contract. Trades can be canceled at any time before being executed, for example if a mistake was made. In this manner, this service allows OTC crypto trades to take place without requiring any trust in the person being traded with, and opens the door to individual peer-to-peer token sales.
- Lock-Free Staking: Staking is a commonplace practice found in most DeFi applications where investors gain rewards for locking away their tokens for a period of time inside a smart contract. This requires a great deal of trust in the underlying smart contract and operators of the project, as a technical flaw or intentionally malicious development could result in having users’ tokens stolen from inside the staking smart contract. With their unique staking solution, ebox entirely removes the need to lock tokens in a smart contract, allowing users to simply keep their staked funds in a wallet they control while still earning token rewards.
- Gasless Governance: While DeFi generally presents a number of groundbreaking innovations, this nascent offshoot of blockchain technology also comes with a caveat that often makes it impractical: What is commonly found in most Decentralized Organizations and projects is a situation where ecosystem members are priced out of governance participation because of the high cost of gas. Introducing a way of letting users participate in governance with the same level of safety as on-chain transactions but with zero cost, ebox solves this challenge. Transaction fees associated with the voting process are eliminated, giving everyone the opportunity to participate and shape the future of projects.
For crypto businesses, ebox offers both off-the-shelf and highly customized implementations of their solutions. Their Lock-Free Staking and Gasless Governance, together with a newly upcoming in-house launchpad / fundraising platform known as the “ebox Investment Platform Service” (eIPS) are all available for integration, with more services planned for the future. As the company is solidifying its B2B (business-to-business) front, the list of projects powered by ebox solutions keeps growing continuously.
Approaching the next iteration of ebox’s main services revolving around the On-Chain Escrow, there are a number of new functionalities being incubated in the near future. Among the product improvements expected to be included are: A cross-chain NFT trading system, the decentralized pool deployment tool mentioned before (eIPS), fiat on-ramp support for the escrow application allowing users to buy and send crypto easily, extending to additional chains, a tool for managing and revoking token approvals, and a wallet linking solution. Beyond this, further integration of ebox solutions into partnering projects is also set to take place, granting ebox stakeholders a share of all generated income through their payout program.
ebox Rebranding: Expanding the Original Vision
ebox has grown beyond its original vision in practically every way. The project was initially branded “ethbox”, implying affiliation with the Ethereum blockchain, but also the limitations this correlates with. The rebranding from “ethbox” to “ebox” highlights its success in achieving its founding goals and showcases the growing extension and integration of ebox services with other blockchain networks including Polygon, Binance Smart Chain (BSC) and Reef Chain, bringing the unique vision of ebox to the Polkadot ecosystem.
The rebranding comes with a new logo, a new website, and technological enhancements on top of the existing “Safe Sending” concept. ebox resonates as a platform that is designed to be accessible for all DeFi users, bringing innovation, ease-of-use and simplicity to multiple currently supported networks, with more chains and feature integrations coming up in the future.
Ebox is a provider of blockchain services and tools that are designed to eliminate the caveats and dangers of everyday crypto use, making it safer, more secure and more accessible for users and businesses alike. From its on-chain escrow service, including its trustless OTC token swap system, to the ebox lock-free staking system and gasless governance, ebox is quickly building a suite of rock-solid solutions, furthering the mainstream adoption of cryptocurrency. Supported by DuckDAO since before day one, ebox has formed partnerships with prominent names in the crypto space such as Polygon, Reef and Vendetta Capital, with more set to come as the project keeps evolving.
WEBSITE & INFORMATION
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons