EOS is about to get a new resource allocation feature called REX. After several months of development and testing, EOS block producers are now voting on whether the system is ready to go live. If all goes well, REX will be deployed on the EOS mainnet in the near future, and everyone will be able to use it.
What Is REX?
REX stands for “resource exchange,” and it introduces a rental model for EOS resources. Currently, developers who build dApps on EOS must purchase resources such as CPU and network bandwidth. These resources essentially power EOS apps, and the new rental model will make resources much more affordable for developers.
EOS creator Dan Larimer has explained how REX reduces developer costs in his original proposal: basically, REX’s rental model allows developers to avoid price volatility and minimize initial costs. This means that developers do not need to worry about buying resources at high prices or trying to sell those resources at lower prices later on.
REX will also provide rewards to users who lend their EOS tokens to the pool. If you lend your EOS to REX, you will receive non-transferable REX tokens. Once you redeem those REX tokens, you will get back your original EOS tokens, plus a portion of the profits from resource sales that took place during the lending period.
REX’s Upcoming Launch
REX does not have a definite launch date. However, on Tuesday, block producers began voting on whether to deploy REX to the EOS mainnet. The outcome of the vote is not yet certain, but it is fairly likely that block producers will vote in favor of REX’s launch. The roadmap on the EOS Authority website also suggests the launch will take place soon.
This means that REX has entered the final stretch leading up to its release. Larimer first proposed REX last August, and it has undergone extensive development and testing since then. REX was finally released on the EOS testnet in March, and now it seems that users will not need to wait much longer to see REX cross the finish line.
When REX was first proposed, high resource costs were a pressing issue for EOS. Although those costs are now much lower, there is still room for improvement. Fortunately, those costs have not discouraged app developers from building on top of EOS. Along with Ethereum and TRON, EOS is one of the leading platforms for blockchain applications.