EOS Bank

AS an infrastructure of EOS, EOS Bank allows DApp developers get access to vast CPU computing resources with small pays which will be paid to all bank depositors. These lease transactions are executed through smart contracts.

Demand Analysis
With the development of the EOS ecosystem, EOS computing resources will become more and more expensive. Many developers' computing needs are not sustainable, which is easily lead to a large number of computing demands in a short time. During the World Cup/Christmas, EOS Bank provides short-term fast leasing of computing resources for short-term promotions which require great amount of computing resources.

Operating Instruction

1.Lease
Eosiocpubank transfers a small amount of EOS to the contract account: you will find the current rental price from next chapter. The contract will automatically calculate the number of leases for you, and you will obtain CPU computing resources with EOS as a pledge. Once the lease is made, you can not throw it, and the contract will make a automatic recovery after expiration.

You should sent more than 0.01 EOS to the contract account as there is a large number of advertisement senting 0.0001 EOS on the EOS network.
cleos transfer account ID eosiocpubank "0.1 EOS" ""
While the transfer memo is empty, the default-lease-time is 24 hours. With a specified duration, such as 3 or 7 days,please input 3d/7d into transfer memo and the command line mode is as follows:
cleos transfer account ID eosiocpubank "0.1 EOS" "3d"
cleos transfer account ID eosiocpubank "0.1 EOS" "7d"

1. Deposit
   Transfer EOS to the contract account eosiocpubank, and put “deposit” into memo. The minimum stored-value is 10 EOS. The dividends will be automatically converted into savings after each lease transaction. Note: transfers less than 10 EOS will fail and we will automatically lease CPU resources for you if you do not write memo. You can find more details from the previous one. The command line mode is as follows:
   Cleos transfer Your account eosiocpubank "100 EOS" "deposit"
   Check balance (stored value + dividend)
   Cleos get table eosiocpubank Your account deposit
   For savings of more than 5000 EOS coins, please complete the privilege isolation by creating the privilege delegate and undeegage and authorize them to us. Please prepare a new public key and a new private key and contact us to get setup helps.
2. Withdraw
   cleos push action eosiocpubank withdraw '["Your account","10.0000 EOS"]' -p Your account
   According to the setting of the EOS main network, the withdrawal will be postponed by three days, and the payment is automatically received. To check the withdraw progress:
   cleos get table eosiocpubank Your account refunds
   Rental Price
   Interest Resources Time
   0.1 EOS 30.4166 EOS CPU 1day
   0.1 EOS 24.3333 EOS CPU 3days
   0.1 EOS 18.2500 EOS CPU 1week

Dividend Settlement
We will take a snapshot of the current saving assets. Set the interest received for a lease transaction as L, the total balance of the platform savings as N, and the savings of a customer as A, then the customer will receive an interest dividend of A /N*L immediately.
For example: We received a leasing of 10 coins. The platform currently has 5,000 coins remaining. The depositor stores 100 coins on the platform. A/NL=100 /5000 X10 = 0.2 EOS, namely: The user immediately receives a dividend of 0.2 coins for this lease.

Advantages

Strong capital adequacy ratio
EOS Bank has sufficient fixed capital and accepts small EOS savings. We support customers to save their EOS coins in quantities greater than 10 EOS, and we will return interest revenues to savers. The fast-changing leasing needs will be well filled with diverse funding streams and powerful assets.

Automatic execution of rental orders
We use a smart contract to respond to rental requests. Anyone can send EOS coins to the contract account eosiocpubank, and the system immediately leases the CPU to the customers at the current price.

Advanced calculation of lease period
Our smart contracts will automatically send the quotation in accordance with the demand time which can meet the customers’ temporary resource requirements and long-term resource leasing needs at the same time.

High current assets entrusting pool
EOS Bank's savings capital has a very high turnover rate as the fast leasing demand makes the contracts run frequently, which also means a high return to the saver and a low fee to the users.

Real-name contract developer
In order to maintain financial security and enhance trust, we disclose the identity information of our team for inquiries.

Closing time
At 15:00 UTC every day, the EOS bank will stop serving for half an hour. Please do not send any currency to the EOS Bank. During the maintenance time, any savings/lease requests will be denied.

FAQ
Why do I need to rent a CPU instead of buying it?
Most people don't need CPU resources every day and the CPU demand erupting in a short time will take up a lot of money, for that we offer short-time lease contract such as 1-day, 3-day or 1-week. If you need to send advertisements for the coming World Cup, you can send 1 EOS to buy an amount of CPU resources worthing 304.1 coins which can last for the whole day, instead of mortgaging 304.1 EOS and waiting for 3 days of redemption. You can even get 3.041 coins of computing resources by sending 0.01 EOS.

What benefits can I get if I put coins in the EOS Bank?
You will receive a rental profit, and the usual annualized rate of return will reach 20% or even 30%. You can get a profit for each transaction, and these profits will be returned to your EOS account when you choose to withdraw the currency.

How can I rent a CPU?
Send a certain amount of coins to EosioCpuBank, and the system will automatically mortgage CPU resources to your account. You will get 3.0416 coins of CPU resources by sending 0.1 EOS and so on in a similar fashion.

Can I rent CPU resources for other accounts?
Surely, put the account name into the MEMO, and we will pledge the resource to it.

What do I need to return after use?
Our smart contracts will reclaim resources automatically after the lease expires.

I am a customer. How can I rent resources when your account balance is 0 ?
The capital is limited. While searching for EosioCpuBank on the EOS blockchain, the amount of EOS coins leased and remaind will be offered. When the account balance is 0, it means all the funds have been leased with no resource available for leasing temporarily. We will replenish the capital as soon as possible to serve customers.

I am a depositor. Where is my money when the account balance is 0?
Your EOS have been leased to other customers. They are all secured. Any EOS assets won’t be lost for we use mortgage leasing instead of transfer leasing. If you choose to redeem, we will lock the EOS currency for your withdrawal and it will be sent to your account after a three-day redemption.

How to make a more cost-effective CPU rent?
The longer the lease, the lower the cost. Obviously, renting for a week at one time will cost you much less than that of seven one-day rents. This is also true in the hospitality industry. A long-term reservation is obviously much cheaper than live for just one day. Of course, if you don't need to rent for a long time, it's still a good deal to make a temporary rent.

Open Source
The operational procedures and functions of the contract are well detailed on this document which can be defined as semi-open source model.
Contract hash: 5a105361718841eda4e30446bc4afc80a7379876bfccb8e790d9686c828d33dc
For more information, please click to view the contract ABI interface.
Waiting for the Block.one official contract review system, we will immediately submit a double review of the real name system and code.

Contact us
[email protected]
Wechat@eosiobank
EOS bank is a Dapp of Hoo. For more details, please refer to https://hoo.com/

https://github.com/eosonic/EOSBank