December 4, 2020

95% of transactions on the EOS network are related to the EIDOS airdrop - Coinbase

On November 1, EOS users began to experience problems sending transactions. Network congestion provoked airdrop of EIDOS tokens.

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Coinbase, faced with the problem of processing client transactions, examined the situation:

  • The release of EIDOS took place on October 31;
  • Airdrop involves sending EOS transactions from and to smart contract;
  • A number of exchanges added a pair of EIDOS / USDT to the listing, which facilitated the sale of tokens;
  • Users increased the number of transfers on the network due to CPU leasing in order to take advantage of the trading opportunity;
  • Increased activity provoked congestion, which led to the restriction of transactions that can be broadcast by one user;
  • Ordinary users cannot send transfers because they lack CPU;
  • The EOS protocol works as usual;
  • The reloading will last until the sale of EIDOS tokens ceases to be profitable or until the 30-day term of CPU leasing expires on the REX resource market without further extension.

To receive EIDOS tokens, users must send at least 0.0001 EOS to the smart contract. This amount is then returned, and the sender receives coins, which he then sells paired with USDT.

On November 8, more than 95% of transactions on the EOS network are related to EIDOS, summarized at Coinbase. According to the official website of the project, the airdrop will last another 15 months.

95% of transactions on the EOS network are related to the EIDOS airdrop - Coinbase

Increased activity in EOS after the start of airdrop - Coinbase / EOS Titan data

Coinbase is convinced that until the cost of leasing a CPU does not exceed the profit from the sale of EIDOS, the network will remain in a frozen state.

Recall that in connection with the airdrop, the price for using the EOS network increased 10-20 thousand times.