Vigor Protocol & DAC
Vigor Protocol & DAC
The Vigor Protocol is a Defi (decentralized finance) two-token Stablecoin DAC (Decentralized Autonomous Community) built on the EOS blockchain. [1]
Overview
The white paper gives us a succinct summation of the project: [3]
“The VIGOR Protocol is a financial engineering innovation with regards to a decentralized stable unit of account.
This project creates a crypto-backed low volatility stable token without a central counterparty by enabling participants to separate and transfer both volatility risk and price event risk through open source escrow smart contracts. Tokens are created and loaned out when EOS native crypto tokens are put into escrow as collateral and backed by insurers.”
Token Structure
The Vigor Protocol allows borrowing of Vigor tokens against EOS native tokens and the borrowing of EOS based tokens agains Vigor tokens collateral. On the flip side, earning Vigor is possible by both insurers who send EOS cryptos into the insurance pool backing the protocol and by lenders who send EOS cryptos into the lending pool to be be lent out. [4][7]
The VIG utility token is a fee token.
In other words, loan fees are paid and earned in VIG.
The VIG token also acts as a reserve asset backing the protocol as a case of last resort necessity.
In addition, the VIG utility token is a deflationary token shrinking in supply with time.
Using VIG to pay and earn fees over time enable user eligibility of vote casting to DAC custodians.
For fee payers, timely repayment allows the borrower to gain and increase a crypto credit score.
Governance
The Vigor DAC (decentralized autonomous community) was formed in an effort to distribute decision making and control of the VIG token and the VIGOR protocol contracts.
In total there are 21 custodians of the DAC that are voted in by the candidate community.
There is no predetermined time for a custodian other than the overall amount of votes that they have received.
All candidates can be voted up to custodians and all custodians have the potential to be voted down to candidates depending upon the overall votes by custodians and candidates.[5]
Candidates and Custodians
To become a custodian one must first become a candidate.
In order to become a candidate you have to be willing to do some work for the DAC throughout various categories.
For those that think they have something to contribute simply fill out a profile, join the telegram group and ask for a VIG stake token, and then hope that the custodians in power at that time see the value you can bring to the DAC and will vote you in as a candidate.
The custodians are elected by the community of acting custodians and candidates, all of which have the power to vote.
These custodians which have been elected by the users then have to propose changes to the contract and vote on proposed changes through the multisig parameters of the DAC governance that has been laid out in the initial DAC governance model.
Any of the active 21 custodians can propose a change, including the request to admit new candidates to the DAC, and 11 out of 21 of the active custodians must vote in favor for any given proposal to be passed into being.
Vigor Protocol & DAC Explainer Articles & Videos
VIGOR Protocol on EOS @https://medium.com/@andrew.peter.bryan/vigor-stablecoin-vusd-on-eos-bd3d47a947ea
EOS moneyDAC #VIGOR Explainer Video #1 [9]
The Most Important Aspect Of #DEFI Revealed - Decentralized Finance - w/Andrew Bryan [11]
MaxShill – Vigor (Vigorous Shill?) @https://www.eoswriter.io/162171_maxshill-vigor-vigorous-shill.eos
Vigor DAC Tutorial @https://decentium.org/eoswatchdogs/vigor-dac-tud
Vigor: Meet The Custodians – Episode 1 – Andrew Bryan @https://www.eoswriter.io/162218_meet-the-custodians-episode-1-andrew-bryan.eos
Vigor: Meet The Custodians – Episode 2 – Peter Chen @https://www.eoswriter.io/163508_meet-the-custodians-episode-2-peter-chen.eos
VIGOR: The White Paper Chronicles Vol. 1: Introduction @https://trybe.one/vigor-the-white-paper-chronicles-vol-1-introduction
VIGOR: The White Paper Chronicles Vol. 2: Risk Framework @https://trybe.one/vigor-the-white-paper-chronicles-vol-2-risk-framework
VIGOR: The White Paper Chronicles Vol. 3: Pricing Framework @https://trybe.one/vigor-the-white-paper-chronicles-vol-3-pricing-framework
VIGOR: The White Paper Chronicles Vol. 4: Governance, Token Lending Facility, Token Allocation, & Conclusions @https://trybe.one/vigor-the-white-paper-chronicles-vol-4-governance-token-lending-facility-token-allocation-conclusions
3 am #VIGOR On My Mind - Zack Gall [12]
EOSRadio: Vigor & the Future of Defi [13]
EOS Answer To Maker DAO Is VIGOR: The Next Generation P2P Stablecoin Lending Platform @https://trybe.one/eos-answer-to-maker-dao-is-vigor-the-next-generation-p2p-stablecoin-lending-platform
DAC Registration Video and Text Steps [14]
Vigor One Pager @https://eosio.support/vigor-stablecoin-and-dac-defi-on-eos/
DeFi, CEX Resource Lending, LiquidRisk, DAPP Network, EOS Rex, and DAC Life w/ Blockstart Vigor [16]
In-VIGOR-ating News @https://trybe.one/in-vigor-ating-news
Vigor: A Borrow, Lend, & Save Community: @https://trybe.one/vigor-borrow-lend-and-save-crypto-community-eos-bitcoin-vig
MakerDown @https://www.eoswriter.io/167721_makerdown.eos
Vigor Jungle Testnet Tutorial @https://trybe.one/vigor-jungle-testnet-tutorial
A Communal reDeFining of Vigorous Proportions @https://trybe.one/collectively-redefining-what-is-to-come
Official Vigor DAC & Protocol Channels
Website @https://vigor.ai
Telegram @https://t.me/vigorprotocol
Member Client @https://dac.vigor.ai
github @https://github.com/vigorstablecoin
Telegram @https://t.me/vigorprotocol
Trybe.One
@https://trybe.one/user/30633