DefiBox

Defibox is a decentralised finance (DeFi) platform that provides a suite of financial services, including token swaps, stablecoin issuance, and decentralised lending. The project was initiated and managed by the Defibox Foundation and officially launched on the EOS blockchain on 21 July 2020. It later expanded its services to other blockchains:

• USN Stablecoin Protocol: Launched on 17 January 2020, providing a decentralised stablecoin (USN) pegged to the US dollar through an over-collateralisation model.
• Swap Protocol: Launched on 21 July 2020 on EOS, expanding to Binance Smart Chain (BSC) on 21 July 2021 and WAX on 21 January 2022.
• Decentralised Lending Protocol: Launched on 27 March 2021 on EOS, allowing users to deposit assets to earn interest or borrow against collateral.

Defibox operates under a decentralised governance model. On 17 November 2021, the DefiboxDAO Board was established, transferring governance responsibilities from the Defibox Foundation to a decentralised autonomous organisation (DAO). This transition allows token holders to participate in decision-making through voting.

BOX is the governance token of the Defibox platform. It was designed to empower users to influence protocol decisions and ensure decentralised control over the platform’s operations. BOX has a fixed total supply of 5 million tokens, distributed exclusively through DeFi protocol mining. There was no pre-mining, private sale, or reserved allocation, ensuring a decentralised and fair distribution.

The token is issued across multiple blockchains:

• EOS: BOX mining and governance established since the platform's launch in July 2020.
• BSC: BOX mining and governance introduced with the Swap protocol expansion in July 2021.
• WAX: BOX integration followed the Swap protocol launch on 21 January 2022.

BOX primarily functions as a governance token, allowing holders to participate in decision-making through the DefiboxDAO Board. BOX holders can vote on:

• Transaction fee rates for the Swap protocol
• Interest rates and liquidation penalties for the lending and stablecoin protocols
• Revenue distribution models for protocol-generated income
• Adjustments to liquidity mining rewards and protocol improvements

BOX is also used as an incentive mechanism in liquidity mining, lending mining, and other staking rewards. A portion of transaction fees and interest income from Defibox’s protocols is used for BOX buyback and burning, reducing supply over time.

Defibox was created by the Defibox Foundation, which initially managed the project’s development and governance. However, on 17 November 2021, governance transitioned to the DefiboxDAO, ensuring decentralised decision-making by BOX token holders.

The project’s development and operations are carried out by the Defibox Execution Team, which works under the governance of the DAO.

Although 'BOX' was the ticker assigned at the deployment of the DefiBox Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'DBOX' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.