News from Chintai - Lease out tokens in the Jungle
You might not have heard of Chintai, but actually it was one of the first dapps that where announced to be launched on EOS, and provide us with a token leasing platform, so holders could lease out their holdings to other dapps, and thus reduce the initial costs to host dapps.
According to their original timeline, Chintai should have launched August 21, only 2 weeks after, Dan put out his own proposal for token rental.
Unfortunately after announcing a one week delay on the last EosRad.io (which apparently intended to announce the launch) it became really quiet. August 28 deadline passed, and just nothing happened and their website went down meanwhile: https://www.chintai-eos.io/
And then yesterday, bang, they were back and announcing for a bounty for anyone who managed to break their leasing platform on the EOS Jungle Testnet, where a demo version was live (They offer 500 EOS bounty for proper submissions to their GitHub):
https://www.reddit.com/r/eos/comments/9hjopy/come_break_our_token_leasing_platform_bug_bounty/
The image above shows what the leasing platform looks like. If you have an Test-Account (easily to be setup on Scatter) you can play around with it:
https://jungle.chintai.io/exchange/
You can set the amount of EOS you are willing to lend out, the time period (7/14/21/28 days) and at what rate you are leasing them out. Vice versa, you can ask for a lease, by either selecting one of the available leases in the order book, or entering your own lease conditions there.
Anyhow functionality wise, there seem to remain quite a few issues, with arbitrary error messages. I hope the will get that in order by next week, when they intend to finally launch (according to their pinned message on telegram:
looking forward to it altho i dont think they will rent for much but some is better then none
What is much? Of course depends on price and scarcity of eos, I guess somewhere around 10%pa
you recon 10%pa? i would think alot less like 3 or 4 max only time will tell
Thank you c. for keeping the steemit community up to date with the important info about EOS.IO !
I have just finished translating the French interface of Chintai this week.
Chintai will be available in multiple languages.
Have a great Sunday!
Thierry
Awesome, i wasn't aware that you are part of the project! Lookinng forward to the release!
through EOS Nation
Interesting. I'm not a tech guy and a little confused on how this would work. So if I lease my EOS to someone, does it stay in my wallet? That may be a dumb question...I'm just trying to wrap my mind around it.
In fact this is a very important question. Basically you send your unstaked EOS you want to lease out to their smartcontract, once the lease is taken you will get the fees for the lease at once. In the first version, you will loose your voting rights, but its said it will be possible later one.
Btw. my final article on trybe covers those things: https://trybe.one/chintai-eos-leasing-coming-out-of-the-jungle/
Yep I've been waiting for Chintai to get their act together
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