VIGOR - an innovation in finance, regarding a stable unit of account. This project creates a crypto-currency stablecoin without a central counterparty, allowing participants to share and transfer risk through open source smart contracts.
Contents:
- Description of the VIGOR
- Company blockchain improvements
- Getting started with defi app
- Benefits of the VIG token
Description of the VIGOR
The VIGOR stablecoin system allows users to borrow stablecoin against their EOS crypto system. This facilitates the transfer of volatility and price event risk, embedded in token prices. VIGOR is structured as a Decentralized Autonomous Community (DAC) for the benefits this governance structure provides. Elected custodians manage multiple access to update the contract code. The control marker is called VIG. Its usefulness lies in providing access to the system to be used as a payment token and used as a final reserve. The election trustee will facilitate the random selection of users and the requirement for them to vote when making transactions in the system. Both the borrower and the insurer will have the right to vote in the elections. VIG tokens are paid by borrowers to purchase loan insurance and the system holds the reduction to be used as a final reserve. Borrowers can:
- use your own EOS tokens as collateral;
- take out a loan;
- pay premiums over time to insure them.
You can reduce your exposure to price action by collateralizing stable loans, as well as selling your coins.
Company blockchain improvements
VIGOR is built on EOS to process transactions quickly and without fees. Some unique system requirements can be met with DAPP and the upcoming vCPU. What the platform wants to improve:
| Control | You will be able to vote for any update and decide if it will be useful. |
| Financial engineering | You have the opportunity to find out if the risk or return is attractive. |
| Securities trading | Test the VIGOR contract on the testnet with securities trading (fake tokens) to familiarize yourself with the functionality. |
In particular, this will allow the VIGOR project to generate invoices for users and store large datasets for calculating risks. You will be able to stake your tokens (both collateral and insurance) even if they are locked in escrow.
Getting started with defi app
To get started with this exchange, visit one of the DAC portals and log in with your EOS account. Afterwards, read and sign the agreement.
Lastly, complete your profile. You receive your VIG tokens daily. The more votes you get, the more VIG you can get. VIGOR is issued under an agreement upon receipt of a loan. Tokens can be either EOS or a set of tokens, supported by the system.
Benefits of the VIG token
There are many reasons why VIGOR decided to use EOSIO technology. Without going into too much detail, we can summarize by mentioning a few features that EOSIO offers:
| Award | Lenders and savers receive a VIG premium. |
| Reserve | A VIG pool that maintains the protocol during market shocks. |
| Reputation | Borrowers in good standing receive preferential rates. |
| Speed | 0.5 second block time provides quick access to funds when needed. It is a critical component for any financial platform. |
| Safety | EOSIO is built with advanced account permission options. Endless combinations of signals and custom permissions are available on EOSIO to meet the full range of user needs while providing unparalleled security. |
| Ability to update operating code | continuous improvements/critical updates can be made to the code with little or no impact on operating platforms. |
| Interoperability | EOSIO is built with chain interoperability in mind. Many EOSIO chains already exist and there are secondary solutions (Dapp Network) that provide the ability to offer our services to more users across multiple blockchains. |
By taking out a VIGOR loan, you will be able to maintain access to cryptocurrency, i.e. retain ownership of your currency, while providing you with some liquidity. Alternatively, you can take a crypto loan and sell it on secondary markets. The company also has a Whitepaper.