EOSUnion| Understand EOS resource allocation logic with 3 pictures

持有EOS就能赚取收益？BM新提案进来了解下

这段时间的电报群当真是热闹，短短两周BM围绕着EOS资源分配多次发言，先是提出CPU租赁市场的可能性，紧接着又发表了一份关于EOS资源租赁和租金分配的提案，创造性地提出SEOS、REX等新概念。可还没等这份提案捂热乎，BM又发言说不再有SEOS了。
The EOS Telegram group was really lively recently. In just two weeks, BM spoke several times around the EOS resource allocation. First, he proposed the possibility of the CPU rental market, and then issued a proposal on EOS resource renting allocation. He addressed new concepts such as SEOS and REX. But before this proposal to be implemented, BM said that there is no longer SEOS.

BM到底在想什么？为什么对EOS资源分配问题如此上心？他的提案能否解决当前存在的问题？又是怎么解决的？让我们来一探究竟。
What is BM thinking? Why does he worry so much about the EOS resource allocation problem? Can his proposal solve the current problems? How does it solve? Let us find out the answers.

1.BM为什么对EOS资源分配问题如此上心？

Why does BM worry so much about EOS resource allocation?

众所周知，dApp市场的发展情况关系着EOS的未来，而资源市场又决定着dApp能走多远。所以，处理好EOS资源分配问题对EOS生态发展至关重要。
As we all know, the development of the DAPP market is related to the future of EOS, and the resource market determines how far dApp can go. Therefore, dealing with EOS resource allocation issues is critical to the development of EOS eco.

说道EOS的账号资源，基本可以可以分为两类：一类是购买性资源如RAM，一类是抵押型资源如CPU和NET。资源类型的不同，直接决定了它们可能发生的问题以及对应问题的结局方案也会大相径庭。
EOS account resources can basically be divided into two categories: one is purchasing resources such as RAM, and the other is staking resources such as CPU and NET. The difference in the types of resources determines the problems they may have directly, and the outcomes of the corresponding problems will be quite different.

RAM容量恒定以及交易市场的存在直接导致用户投机风潮，但这种投机行为在RAM扩容提案通过后基本得到解决，目前RAM的价格比较稳定。
The constant RAM capacity and the existence of the trading market directly lead to user speculation, but this speculation is basically solved after the RAM expansion proposal is passed. At present, the price of RAM is relatively stable.

由于CPU具有免费抵押赎回EOS、资源24小时恢复以及CPU可使用量动态变化等特点，使得用户出现大量随意抵押和不理性抵押等行为，这样导致的结果就是全网CPU的EOS抵押量并不真实反映当前CPU的需求量，CPU购买价格出现虚高。
Due to the CPU's free mortgage redemption EOS, 24-hour recovery of resources and dynamic changes in CPU usage, and many users have staked arbitrarily and irrationally. In this case, the real current CPU demand can not be reflected in the EOS staked for the whole network CPU, and the CPU purchase price has reached a virtual high.

而CPU租赁、SEOS和REX就是在这样的背景下提出的。
CPU renting, SEOS and REX are proposed in this context.

2．BM为什么最后决定去掉SEOS？

Why did BM finally decide to remove SEOS?

在回答这个问题之前，我们要先了解SEOS、REX机制启用前、启用后以及REX机制（去掉SEOS）启用后三种情况下EOS资源的分配逻辑。

To answer this question, we must understand the allocation logic of EOS resources in the following three cases: Before and after the SEOS and REX mechanisms are enabled, and REX mechanism (with SEOS removed).

（1）SEOS、REX机制启用前

Before the SEOS and REX mechanisms are enabled

这是最原始的EOS资源分配逻辑。EOS持有者通过向系统账户抵押一定数量的EOS，从而获得对应可使用的CPU/NET资源，如果不再需要使用这些资源，可以将EOS赎回（此时EOS处于refund的锁定状态），72小时候返回用户账户。
This is the most primitive EOS resource allocation logic. The EOS holders obtain the corresponding available CPU/NET resources by lending a certain amount of EOS to the system account. If these resources are no longer needed, the EOS can be redeemed (the EOS is in the locked state of the refund), and 72 hours later it will return to the users’ account.

这对于抵押大量EOS去获取资源的用户（比如dApp开发者）来说风险很大，因为我们都知道EOS价格波动很大，可能今天用2000个EOS抵押获取部分CPU，明天再赎回的时候，就只有1500个EOS了。
This is very risky for users who pledge a large number of EOS to get resources (such as DAPP developers) because we all know that EOS prices fluctuate greatly, and you may lose money as the EOS prices dropped through the time.

再加上前面提到大量不理性抵押行为导致CPU价格暴涨的问题，BM开始思考是不是有一种办法能够在降低抵押EOS带来的收益风险的同时，实现减少随意抵押EOS的不理性行为，让CPU能够用在真正需要的用户身上，于是有了下面SEOS、REX机制的诞生。
In addition to the aforementioned problem of a large number of irrational mortgages causing skyrocketing CPU prices, BM began to think about a better way to reduce the risk of returning mortgage EOS and the irrational behavior of freely mortgaged EOS. So the CPU can be used on the users who really need it, so the following SEOS and REX mechanisms are created.

（2）SEOS、REX机制启用后

After the SEOS and REX mechanisms are enabled

而这套资源分配逻辑就是通过设立一个资源交易所，通过REX和SEOS两种代币进行交易。简单来说，就是用户将EOS抵押给资源交易所获得REX代币，在抵押到期后，用户不仅可以赎回自己的EOS，还会获得额外收益。
The resource allocation logic is to set up a resource exchange, in which REX and SEOS can be used for transactions. To put it simply, the user stakes EOS to the resource exchange to obtain the REX token. After the mortgage expires, the user can not only redeem his EOS but also get additional income.

EOS持有者抵押EOS的同时，资源交易所会根据抵押的EOS数量1:1生成SEOS代币。开发者用EOS买入SEOS代币，然后用SEOS代币去抵押获得CPU/NET资源。
When the EOS holder mortgages EOS, the resource exchange will generate a SEOS token based on the number of mortgaged EOS. Developers use EOS to buy SEOS tokens, and then use SEOS tokens to get the CPU/NET resources.

BM的这套做法既奖励了抵押EOS的REX代币持有者，又让开发者花费较小的成本获得SEOS进而获取CPU资源，可以说基本上解决了CPU的问题，但也存在一大缺点，那就是太复杂了。
This set of BM's practices not only rewards the EOS REX token holders but also allows developers to obtain SEOS at a lower cost to obtain CPU resources. It can be said that the CPU problem is basically solved, but it is too complicated.

因为你会发现，在这套资源分配逻辑里，出租者和资源交易所、租赁者和资源交易所之间流通的代币不是同一套代币，那么不同代币、代币与资源之间在转换时可能出现一系列问题。
Because you will find that in this set of resource allocation logic, the tokens circulating between the lessor and the resource exchange, the renter and the resource exchange are not using the same set of tokens, so a series of problems may arise when transferring between different tokens, tokens and resources.

（3）REX机制（去掉SEOS）启用后

REX mechanism (without SEOS) enabled

“SEOS已经不存在了，去看一下REX branch里面的代码。” BM在电报群宣布取消SEOS代币。
"SEOS is no longer exists. Let's take a look at the code in the REX branch." BM announced the cancellation of the SEOS token in the Telegram group.

相较上一种资源分配逻辑，这种模式显得简单多了，EOS持有者通过出租EOS获得REX代币，在抵押到期后，用户同样可以赎回自己的EOS并获得额外收益；而开发者则可以通过直接支付一小笔费用来获得大量EOS的使用权，不再需要进行SEOS代币购买后才能使用CPU/NET资源。

Compared with the previous resource allocation logic, this model is much simpler. The EOS holder obtains the REX token by renting EOS. After the mortgage expires, the user can also redeem his EOS and obtain additional income. You can get a lot of EOS usage rights by paying a small fee directly, and you no longer need to purchase SEOS tokens to use CPU/NET resources.

4.REX新机制的可能影响

The possible impact of the new REX mechanism

积极的影响：

Positive effect:

（1）在本金有保障的情况下提高EOS持有者的收益
EOS持有者通过出租EOS获取REX代币，由于REX是按抵押时的价格记录账面价值，所以在抵押到期后，用户不仅可以按当时账面价值赎回EOS，还会获得额外收益；
Increase the income of EOS holdersEOS holders obtain REX tokens by renting EOS. Since REX records the book value at the staking price, after the mortgage expires, the user can not only redeem EOS at the current book value but also obtain additional income;

（2）实现 EOS 链上资源有效配置
通过 eosio.rex 这一系统账户集中收取闲置的EOS，形成大规模的集中租赁市场。集中式租赁利于形成公允的 CPU 价格机制，自由市场中出租者和租赁者越多，越容易发挥价格调控有效机制，实现 CPU 资源的有效使用。
Realize effective allocation of resources on the EOS chain
The unused EOS are centralized through the eosio.rex system account and a large-scale centralized leasing market can be formed. Centralized leasing is conducive to the formation of a fair CPU price mechanism. The more renters and renters in the free market, the easier it is to implement an effective price control mechanism to achieve effective use of CPU resources.

（3）降低开发成本，促进dApp开发
对于开发者而言，只需支付一小笔费用就能获得大量的资源，减少了开发所需要的资本成本和 EOS 价格波动带来的收益风险。
Reduce development costs and promote DAPP development
For developers, they can get a lot of resources for a small fee, reducing the capital cost of development and the risk of revenue from EOS price fluctuations.

消极的影响：

negative influence:

（1）大户可能大量增加免费抵押量抬高CPU价格，从而增加CPU租金收益
在CPU旧的免费抵押模式和新的租赁模式两种模式都存在的情况下，大佬可以通过大量增加免费的抵押量使CPU变贵进而增加CPU租金收益。
Whales may increase the number of free mortgages to increase CPU prices, thereby increasing CPU rental income.
If both the old free mortgage mode of the CPU and the new lease mode exist, Whales can increase the CPU rental income by increasing the free mortgage amount to make the CPU expensive.

（2）租期内提前完成项目同样存在资源闲置浪费
在REX新机制中，“ Bancor算法会根据供应和需求设置一个30天的价格，并规定不能交易或转让”。在这种情况下，如果dApp开发团队在到期前完成项目开发，那么剩下租期内的CPU资源就处于闲置浪费状态，如何处理这部分的资源是一个亟待回答的问题。
(2) Finishing the project ahead of schedule during the lease period also waste resources.
In the new REX mechanism, "Bancor algorithm sets a 30-day price based on supply and demand and stipulates that it cannot be traded or transferred." In this case, if the DAPP development team completes the project development before the deadline, the remaining lease period CPU resources are in a state of idle waste. How to deal with this part of the resources is an urgent question to answer.

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