VIGOR FOR DUMMIES 2E

Published by bnr425323411 3 Jun

VIGOR FOR DUMMIES 2E

What is Vigor?

Vigor is a decentralized automated Lending platform that allows you to Borrow, Lend, and Save. It is powered by the EOS Public Blockchain. 

Borrow
Generate VIGOR using crypto collateral, Lock up collateral to borrow VIGOR tokens or other cryptocurrencies. 

Lend
Lend crypto and receive instant reward. Lock your crypto in an insurance pool to back loans, and get rewarded VIG tokens.

Save
Deposit VIGOR Into a Protected Savings Vault and get VIG Rewards, it is an automated and secured process.

VIGOR token: low volatility payment token, backed by a pool of EOS & VIG tokens. The VIGOR tokens are issued by the contract when a loan is taken. This happens when the borrowers lock up tokens as collateral. 

VIG token: a utility token used for fees, rewards, and collateral. It is the governance and fee-utility token. It’s utility is to provide access to the system, to be used as a fee token, and to be used as a final reserve.

The utility of the VIG token are:

­­Reward
Lenders and Savers receive VIG premiums.

Reserve
Pool of VIG that supports the protocol during market shocks.

Reputation
Borrowers with a good reputation get discounted rates.

Get familiar with Vigor

Bailout: Premiums are required to be denominated in VIG tokens and must be posted prior to drawing loans; insufficient maintenance of VIG balance triggers bail-out of the loan with the borrower retaining any excess collateral. Insurers are rewarded and incentivized with VIG. In short, a bailout is triggered when your collateral drops below the value of the loan issued.

How to avoid loan Bailout: To avoid loan bailout, keep adequate collateral and VIG tokens at all times.  

Final Reserve: A cut of the VIG awarded to insurers are stored by the system as final reserves. VIG final reserves are used to rebalance the system if at any time the insurance pool is depleted.

Vigor Protocol: The smart contracts that power VIGOR.

Vigor Reputation System:

Reputation is built by these two things:

  • Having more debt than others over time

  • Having more in the lending/insurance/savings than others over time


Vigor Candidate: VIGOR Candidates help to build vigor and add value to the vigor platform. All candidates help out with best efforts, and receive votes based on input.

Vigor Custodian: Higher voted candidates are called custodians, currently there are 21 custodians and they are elected daily and are responsible for completing tasks ranging from building out the core Vigor Platform features, to marketing, legal solutions, and multisig control of the entire system.

Vigor DAC: VIGOR is a DAC (Decentralized Autonomous Community) of 21 Custodians and 100+ Candidates. The 21 Custodians are elected from the Candidate list based on the number of votes.

Maximum supply of VIG: 1,000,000,000 VIG tokens. VIG circulating supply will always be less than that as some of the VIG awarded to by Insurers is held in the Final Reserve. 

New Vigor DAC Candidates are always welcome, being a candidate/custodian means you wish to help vigor build and want to add value to the vigor platform. Going above being a user of the vigor platform.

If you want to be a candidate, you need to fill out a profile on http://dac.vigor.ai/ highlight your skillset, upload a pic, and ask a custodian to submit a proposal for you. If you are just a member you simply sign the constitution.

You can join the DAC on: http://dac.vigor.ai/

Original Post: https://docs.google.com/document/d/1iJ6cyb62ZkWNoSD8ko_W_R4fEsCcHajCgn3a_X7mkNU/edit


Learn More: https://vigor.ai/faq
Visit: https://vigor.ai/
Telegram:https://t.me/vigorprotocol
Twitter: https://twitter.com/vigorprotocol

Medium: https://medium.com/@vigordac/vigor-for-dummies-second-edition-the-vigor-dac-decentralized-autonomous-community-706437eb348e

Trybe: https://trybe.one/vigor-for-dummies-second-edition-the-vigor-dac-decentralized-autonomous-community

Endorse
74735f82e724fe3c71cfd58c54b03ecce9c26b04721a787dc81d5fa39672de0b