VIGOR FOR DUMMIES
What is Vigor?
Vigor is a decentralized crypto Borrow, Lend, and Save platform, powered by the EOS Blockchain.
VIGOR token: low volatility payment token, backed by a pool of EOS & VIG tokens
VIG token: a utility token used for fees, rewards, and collateral
Generate VIGOR using crypto collateral. Borrow EOS using VIGOR as collateral.
Lend EOS and receive rewards instantly.
Put VIGOR into a Savings Vault for VIG Rewards.
Crypto: Crypto is short for cryptocurrency. A cryptocurrency (or crypto currency) is a digital or virtual currency designed to work as a medium of exchange. Example: Bitcoin, EOS, Litecoin, Ethereum.
Blockchain: Blockchain is the technology that powers digital currency like: Bitcoin, EOS, Litecoin, Ethereum, and the like. It is a chain of blocks which contain information.
EOS Blockchain: EOS is the native token of EOSIO network. EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS.
Decentralized: Decentralization is the process of distributing and dispersing power away from a central authority.
What is the utility of the VIG token?
The VIGOR token is Crypto collateral-backed; the accepted Crypto collateral will be the EOS token and the VIG token. However, more Crypto collateral tokens will be added in the future.
The utility of the VIG token are:
Lenders and Savers receive VIG premiums.
Pool of VIG that supports the protocol during market shocks
Borrowers with good reputation get discounted rates
The Vigor Protocol is currently being built out today as a DAC (Decentralized Autonomous Community), to build and deploy the Vigor Platform based on the Vigor Whitepaper.
Protocol: A protocol is a set of rules and guidelines.
Vigor Protocol: The smart contracts that power VIGOR.
Smart Contract: A smart contract is an agreement between two people in the form of computer code. They run on the blockchain, so they are stored on a public database and cannot be changed. The transactions that happen in a smart contract processed by the blockchain, which means they can be sent automatically without a third party.
The Vigor DAC (Decentralized Autonomous Community)?
VIGOR is a DAC of 21 Custodians and 100+ Candidates. The 21 Custodians are elected from the 100+ Candidates.
VIGOR DAC community is building out the VIGOR Platform as written in the white paper. Everyone candidates claim VIG tokens every day. Higher voted candidates claim more VIG; the top 21 claim an equal amount. All candidates help out with best efforts. The top 21 by vote are elected daily as custodian and are responsible for completing tasks ranging from building out the core Vigor Platform features, to marketing, legal solutions, and everything in between.
Currently, only the Top 21 Custodians can vote in the Genesis Stage of the Vigor DAC. In the future, the actual users of the Vigor System, both Vigor Borrowers and Vigor Lenders, will wield voting control over the Vigor DAC and its 21 Custodians.
New Vigor DAC Candidates are always welcome and there has been increasing interest in these Candidate positions as the Vigor Platform has become more popular recently within the EOS Community!
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/ 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: https://vigor.ai/
Welcome to the future of DeFi, powered by the EOS Blockchain
The VIGOR Protocol offers the following features:
Low-Volatility Payment Token
Borrow Stable Token
Onchain Price Discovery
Risk Modeling & Compliance
Stress Test Modeling
Learn More: https://vigor.ai/faq