Stablecoin and DAC
DeFi on EOS
VIGOR is a crypto-backed stablecoin on the EOS blockchain that tracks the US dollar.
DAC.Vigor.ai is the decentralized autonomous community (DAC) that is building this stablecoin platform.
VIGOR is governed as a DAC launched on the EOS mainnet. It has up to twenty one custodians from our community which control multisig permissions to the smart contracts.
- Borrow ‘cash’: take a VIGOR stablecoin loan using your EOS cryptos as collateral
- Borrow crypto: short sellers can borrow EOS cryptos using VIGOR stablecoin as collateral
- Insurers: Send EOS cryptos into insurance pool that backs the stablecoin
- Lenders: Send EOS cryptos into the lending pool to be lent out
VIG Utility Token
VIG is a fee token
- loan fees are paid and earned denominated in VIG
- pay the VIG, earn the VIG
VIG is a reserve asset
- A cut of VIG fees is sent permanently into a reserve which backs the stablecoin as an insurer of last resort
- VIG is deflationary; the free float shrinks over time making it more scarce
VIG users run the platform
- Using VIG over time to pay/earn fees can make users eligible to cast votes for DAC custodians who execute updates to software and configuration
VIG users get a crypto credit score
- Paying VIG fee on time allows borrowers to build a crypto credit score