As a superior blockchain asset trading platform focusing on EOS projects, Chaince will focus on researching the system of EOS, and launch the function which users are most concerned with. After ensuring that RAM trading is feasable in the EOS Community blockchain, Chaince will have launched RAM trading to meet the demands of our users.
Please fully understand the RAM trading mechanism and read the following important tips before deciding whether to purchase or not.
The buying and selling of RAM transaction will consume about 0.5% of the total transaction as the trading fee. This part of the fee belongs to the on chain cost. Chaince will not charge any additional fees.
In order to reflect the transparency of the transaction, after buying and selling RAM, you can check through the TxID (Transaction ID)displayed on the page.
Deposits & withdrawals of EOS are smooth & efficient. Chaince will continue to provide you, our customer, with the best service & experience whilst on Chaince!
RAM purchasing has huge fluctuations, high volatility & large market risks. Please decide carefully whether to participate in the transaction from your own financial situation such as risk tolerance and to properly allocate your assets. At the same time, please be sure to pay close attention to the information of the trading center announcement, risk reminder etc. To understand the market risk situation in a time to achieve rational investment and to avoid following the trend blindly.
Your transaction needs to be based on your own knowledge surrounding RAM and a certain trading experience within the blockchain.Chaince only provides related services. The relevant information is only for your reference. It is not used as your investment and transaction basis. It does not constitute any contract or promise, you should undertake the resulting transaction risk by your own self.
What is RAM? (Random Access Memory)
RAM is a commodity & although RAM can be sold, it can't be transferred , traded, or deposited between accounts. The system contract of EOS.IO doesn't determine the price of the market，it's determined by the users who trade though the system contrast interaction.In fact, the sale of RAM is that you sell EOS to EOS.IO system account in the EOS blockchain.The object of the transaction is the EOS system. Whether buying RAM (sell your EOS and purchase RAM), or selling RAM (acquire your EOS and release RAM) is the interaction between the participant and the system account.
The price of RAM is automatically priced according to the improved Bancor algorithm. It will automatically balance according to changes in the supply and demand relationship. After the sale and purchase is successful, users can check the real trading situation along with the buying and selling price through the TxID (Transaction ID).
EOS.IO adopts a free-market approach to allocating scarce resources to their highest purpose. To facilitate this market, the EOS.IO system contract allows users to purchase RAM from the system and sell RAM back to the system in exchange for the blockchains native tokens (e.g EOS).This not only mobilizes the liquidity of the RAM market, but also promotes price discovery (in the condition of a mechanism that is close to a perfectly competitive market, the market determines the price). The less unallocated available RAM, the higher the price for the remaining RAM.The algorithm used for this quoter is called Bancor Relay.
Bancor Relay does not determine the price of RAM. It only offers trading at previously determined market prices. At any time the current market price is different from the current price offered by Bancor Relay,and the trader will buy or sell RAM to push it closer to the market-determined price.