The past few days have been intense with regards to the EOS blockchain, culminating in news from Helios, the Brock Pierce platform that has received over 45 million EOS to support and enhance the entire EOS.IO ecosystem
Helios announced the launch of the first ETP on EOS, as described by Pierce himself.
What is an ETP?
An ETP, which stands for, Exchange Traded Product, is a financial investment instrument that replicates the performance of another asset such as currencies, indices, commodities and so on.
Thanks to these instruments, it is possible to invest indirectly in the relevant asset. The advantage of using these instruments, instead of investing in the asset directly, is the simplicity and the existing regulation.
In fact, a company or institutional investor will be more inclined to buy an ETP than the asset itself, for both bureaucratic and technical reasons. Think, for example, of an ETP on a commodity: it is easier to buy and trade an ETP than physically moving the commodity.
The same applies to cryptos, which requires a series of measures to prevent the loss of private keys, their registration in the balance sheet, as well as other bureaucratic and fiscal issues.
Why an ETP on EOS?
As the statement itself indicates, there are no other individual cryptocurrency ETPs like the EOS.
This is because most cryptoactives have regulatory issues, and in some countries they can be regulated as security tokens, as we’ve seen in the past (see the Ripple case with the SEC).
So far, there are only 3 SEC confirmed cryptocurrencies that are not security tokens: Bitcoin (BTC), Ethereum (ETH) and EOS.
This makes it easier to use these assets to create traditional financial instruments, as they have already been battle-tested by the SEC, that is, they have passed the scrutiny of the financial products regulator.
And this is where ETP comes into EOS. This service will start in Europe. We are talking about an ETP 100% guaranteed by EOS, so buying this ETP is the same as buying EOS directly, as they are not only representative bonds but are issued according to the EOS that Helios itself will make available.
The VC “Helios Rising”
In addition to ETP, Helios VC (Venture Capital) was announced. It is called “Helios Rising” and will aim to accelerate projects in EOS and EOS.IO.
In addition, Helios will also create a Pre-VC that will support some projects that are already underway, such as the pomelo.
Pomelo will receive up to $100,000 to expand the platform and extend it to “non-public goods”, which will use the EOS and EOS.IO blockchain in different fields.
This new section will have an initial pool of $500,000, again distributed through quadratic funding.
Finally, Helios will give another $500,000 for several projects we saw in Pomelo’s first season, and among them are:
ZEOS, the token in EOS that uses the ZK-SNARK protocol to perform private transactions, including swaps and DeFi anonymously. A project that will be launched this Christmas, barring unforeseen events;
EOS Support , a solid support service for those who have problems with EOS, which also has a reward algorithm for those who actively help in solving problems;
Violet Garden, an Instagram-like social network where you log in with your EOS account (verified by the EdenOS project) and where a function was recently added to coin your posts as NFTs and sell them;
EOS NFT Standard, the first smart contract standard where all NFT information is 100% chained, including the media file attached to it (which is now done on systems like IPFS).
News makes the EOS price soar
To this multitude of news, must be added the first dApps about EOS approved by the Venezuelan government, the launch of Bullish, already operational for institutional users, and another 32 million EOS returned to the EOS community.
All this positive news is also reflected in the price of EOS. After the collapse of the entire crypto market, which reduced the EOS to $2.4, the EOS has already surpassed the $3.7 mark with a 55% increase in just 2 days.