EOS Network reveals liquidity reward and security schemes, Recover+ and Yield+

abdelaziz Fathi

The EOS Network Foundation (ENF), the new entity entrusted by the EOS community to develop its core blockchain software, has announced a new roadmap for the EOS community.

EOS Network

The EOS ecosystem is undergoing some significant changes, said Yves La Rose, the executive director and founder, while speaking about two new initiatives dubbed Recover+ and Yield+.

Yield+ is an EOSIO working group and community initiative that was started to help develop the EOS DeFi ecosystem, grow the amount of total value locked in EOS DeFi, and increase opportunities for users to earn yield off of their EOSIO assets.

The purpose of this liquidity incentive and reward scheme is to entice DeFi applications to join the EOS network. With this move, EOS joins the ranks of its top blockchain competitors in the DeFi space, including big names such as Ethereum (ETH), Solana (SOL), and Cardano (ADA).

Meanwhile, Recover+ aims to help the EOS community establish a formalized hacking incident response process. Through improving communication among major EOS block producers and project developers, Recover+ will create a safer and more reliable enterprise environment for businesses building on the EOS network.


Recover+ is touted as an asset recovery framework and a coordination hub to tackle hacks and exploits. The initiative was launched with the aim of laying the foundations needed for Yield+ as an incentive program to encourage people to put more liquidity, therefore, to ramp up the TVL and lower the risks for market manipulations.

These milestones come at a time when 2022 is on pace to become crypto’s biggest year for hacking on record, according to the blockchain intelligence firm Chainalysis. In the first 10 days of October alone, nearly $720 million was stolen from decentralized finance protocols.

At this rate, 2022 will likely surpass 2021 as the biggest year for hacking on record. So far, hackers have grossed over $3 billion dollars across 125 hacks.

EOS, Telos, WAX, and UX Network have come together earlier this year to gain control over the development of the EOSIO protocol core code that underpins each of these blockchains. Part of their alliance, the coalition will lead the devotement of community-run blockchain protocol Antelope.

All four EOSIO protocol-based blockchains have their own focus areas and are set to compete in various arenas. However, the group as a whole focuses on the areas where the chains overlap, and incentives are positioned to accelerate the development of the core protocol.

Read this next

Digital Assets

Himalaya Exchange customers seek release of frozen funds from DOJ

FormerFeds, a corporate defense and litigation service provider, has filed a lawsuit against the U.S. Department of Justice (DOJ) on behalf of over three and a half thousand Himalaya Exchange customers.

Digital Assets

Nubank, Circle, and Talos join forces for crypto adoption in Brazil

Nubank, the Brazilian neobank backed by Warren Buffett’s Berkshire Hathaway and Softbank Group Corp, announced new partnerships with cryptocurrency firms Circle and Talos.

Metaverse Gaming NFT

Flare onboards Ankr, Figment, Restake, and NorthStake as validators

Flare, an EVM smart contract platform known for its focus on blockchain data utility, has announced a major step in its development. The platform has onboarded leading infrastructure providers, including Ankr, Figment, Restake, and NorthStake.

Digital Assets

Sui Joins DeFi Leaders, Topping $100M in Bridged USDC

Sui, the groundbreaking Layer 1 blockchain created by the technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, continues its explosive ascent in decentralized finance (DeFi). This week, it surpassed $100 million in bridged USDC. 

Digital Assets

Poloniex hit by UK regulator, listed as ‘unauthorised’ exchange

The UK’s Financial Conduct Authority (FCA) has added the cryptocurrency exchange Poloniex to its warning list of non-authorized companies. Poloniex, which is based in Seychelles, has experienced four hacks in the last two months and is affiliated with entrepreneur Justin Sun.

Industry News

Exclusive Markets is Proudly ISO/IEC 27001:2013 Certified by MSECB for Unparalleled Commitment to Information Security

Exclusive Markets, a leading name in the FINTECH sector, proudly announces the attainment of ISO/IEC 27001:2013 Certification by the MSECB. This esteemed certification highlights Exclusive Markets’ persistent commitment to fortifying information security within its cutting-edge trading technology. 

Digital Assets

SEC is discussing ‘technical details’ of Bitcoin EFTs ahead of approval

Discussions between the U.S. Securities and Exchange Commission (SEC) and asset managers seeking to list Bitcoin exchange-traded funds (ETFs) have reportedly advanced to key technical details.

Digital Assets

Versatus Labs Reaches $50 Million Valuation Following $2.3 Million Seed Funding Round

Versatus Labs, a peer-to-peer web services protocol aiming to help Web2 developers transition to Web3, has completed a $2.3 million funding round at a $50 million valuation led by key investors in the Web3 space including NGC Ventures and Republic Crypto. The latest funding round aims to help the company develop the ‘world’s first stateless roll-up’, Versatus LASR. This follows Versatus Labs’ recent pivot from Layer 1 solutions to Ethereum scaling solutions. 

Digital Assets

Binance ex-chief’s sentencing looms as court accepts his guilty plea

A U.S. district judge has accepted a guilty plea from former Binance CEO Changpeng Zhao (CZ) on charges related to anti-money laundering violations. The plea was accepted by Judge Richard Jones in the U.S. District Court for the Western District of Washington in Seattle.

<