0VIX — a protocol of the liquidity market of decentralized finance (DeFi), based on Polygon.
The features of 0VIX?
Protocol 0VIX allows users without much effort to give loans, occupy and receive interest, using their digital assets. The depositors, who provide liquidity to the protocol, can receive passive income, while borrowers can take loans by using excessive support.
0VIX seeks to facilitate many problems by providing a set of Defi products on a scalable and decentralized platform, operating on Polygon, a blockchain network that offers much lower network fees. Having focused on the availability, ease of use and low commissions, 0vix seeks to democratize access to decentralized finances, providing users with simple lending and borrowing without permission.
Distinctive features:
| 1. | Instantly supply or withdraw assets from the general liquidity market. |
| 2. | Instantly occupy liquidity in any of the liquidity markets, using the value of the assets, provided as a pledge. |
| 3. | Enjoy a transparent idea of interest rates, based on market demand and proposal of this asset. |
0VIX provides several markets for borrowing and lending for various cryptocurrency assets. By making assets to the platform, users receive a variable interest rate on their deposited assets in addition to 0VIX tokens.
Moreover, deposited assets can be used as a pledge, allowing the user to borrow other assets. The interest, received from the placement of funds, compensate for the accumulated interest rates for loans.
The height of the remuneration is determined by the dynamics of demand and sentences, as well as our dynamic percentage model of the interest rate, individual for each class of assets.
What is oTokens?
When tokens are delivered to various market markets 0VIX, the corresponding OTOKEN is minted and sent to the supplier’s wallet (for example, ETH mints oETH). oTokens — the percentage tokenized representations of user deposits, issued in accordance with the ERC20 standard.
Although oTokens represent the underlying asset, they do not have a 1:1 exchange rate with it (1 USDC is not equal to 1 oUSDC). Whenever a user issues, redeems, borrows, redeems, terminates an account or transfers oTokens, they do so by interacting with the corresponding oToken contract.
All token markets on 0VIX have their own interest rate. By holding the oToken for one second or longer, the custodian automatically receives interest, paid by the borrowers of the asset, which manifests itself in an increase in the value of the oToken, compared to the corresponding underlying asset.
oToken users are visible in any Polygon block explorer. Because they conform to the ERC20 standard, they can be transferred like any other standard token. However, please be aware that transfers that would put the user account in an undercollateralized state will not be executed.