If you are a westerner like me and are enjoying using defibox; and you stumbled into the USN Mining area and it made no sense to you (and reading defibox’s explanation did not help either)…
here is my un-official explanation:
USN is the native stable coin of the defibox platform
the USN tab of the defibox website allows you to stake EOS and receive USN.
You are essentially Staking EOS as collateral and receiving USN as a loan (a loan you WILL owe interest on).
The USN interface allows you to establish the amount of leverage and the liquidation criteria of your EOS if the value of EOS drops significantly.
who is USN mining For?
some of the Higher APY% liquidity pools(LP) use USN as half of the pool.
For those who want to participate in these LP’s, but do NOT want to sell EOS, nor buy USN, then this area allows you to stake EOS and gain access to USN and participate in USN LP’s.
Can i just buy USN and then use it to stake to USN pools?
do you need to participate in USN staking/mining to use defibox?
No; you can access all of defibox without ever dealing with USN mining or the USN mining area.
the USN Mining area is for those who would like to stake EOS as collateral and then be issued a USN pseudo-loan. If this is not something that appeals to you, then simply ignore it, hope this helps those who were confused as i was.