Block.one, the company that built the EOS.IO blockchain platform is launching a cryptocurrency exchange named Bullish. Bullish will run on the EOS.IO blockchain. The exchange project is backed by prominent investors including Peter Thiel, Mike Novogratz, Louis Bacon, and Alan Howard.
The $10 billion Bullish EOS exchange will offer market making, lending, and yield-generating portfolio management to clients. It is supposed to offer the qualities of a decentralized exchange, but with the backing of a centralized company (make of that what you will).
The EOS.IO blockchain was launched in June 2018 promising to be an extremely fast Ethereum competitor that offers low fees and instant transaction settlement. I have been testing it over the years and it actually was been offering instant settlements (and was able to sustain that).
However, the project struggles with centralization-related challenges due to the way its protocol is designed. The protocol was designed in such a way that sacrifices decentralization to some extent in favor of speed. There are relatively few block producers.
EOS has also been plagued with resource issues due to its resource allocation model. Staking a certain amount of tokens provides you with access to a portion of the CPU resources in milliseconds (processing power) available on EOS. Users now have to stake a significantly larger quantity of tokens than they used to in order to do any transactions to avoid its notorious CPU billing error.