Good day everyone, and welcome back to another episode of The Daily Trybunal
And today’s feature is an exciting one to say the least. Let’s just say it’s got ‘vigor’.
What is VIGOR? Well, in the simplest of terms, Vigor is a stable coin on the EOS.IO ecosystem that in the words of our good friend Michael Blu is EOS’s answer to Ethereum’s MakerDAO. That said, VIGOR is far more vigorous than this. Direct from the VIGOR Whitepaper then,
"The VIGOR stablecoin project core theme is that crypto-backed stablecoins are fundamentally concerned with jump-to-zero price risk and volatility risk. Our stablecoin platform enables the separation and transfer of those risks. VIGOR is the stablecoin (“cash” instrument) created on our platform; it is a crypto-backed stablecoin on the EOS blockchain that tracks the US dollar. Our platform in a broader context is a decentralized autonomous smart contract prime broker that enables users to: A. borrow stablecoin against EOS native tokens and B. borrow EOS native tokens against stablecoin collateral. The project utility token is called VIG. Our technical whitepaper: https://vig.ai/VIGOR.pdf
VIGOR Stablecoin: The VIGOR stablecoin system enables separating and transferring volatility risk of collateral and price jump risk from borrowers to insurers. The system is the crypto version of borrowing and lending but lenders are called insurers. Borrowers lock up tokens as collateral and borrow stablecoins. The collateral is price risky so excess collateral is required along with buying loan insurance (vaguely similar to homeowners paying PMI private mortgage insurance on a home loan). The insurers lock up crypto tokens as collateral that capitalize an insurance pool. Borrowers pay an insurance premium (VIG tokens) into the system. The insurers earn and bailout any loans that become undercollateralized. When a bailout is triggered the borrower’s collateral and debt is assigned pro-rata (according to contribution to solvency) to the insurers which recaps the debt. A cut of the VIG premium is stored in the final reserve which acts as an 2 insurer of last resort. Storing VIG in the reserve over time has the effect of shrinking the free float of VIG making it more scarce."
Now, we could go on and explain this quoting directly from the VIGOR Whitepaper and doing our best to make sure that we give the best representation as we possibly can. But, here at TRYBE.ONE we remember those classes that you took at school that you all deeply detested – you know, the ones that the teacher simply read the textbook to the class every period till the bell rang. It’s the modern age after all, and learning should be both optional and varied. So, if you like what you read so far, head on down to the mBluCrypto content below and have a gander.
Pretty exciting stuff, ain’t it? Still intrigued? You can learn more from the official Vigor sites and channels below.
For those wondering where the common investor can get some VIGOR, and yes, that was vigorously intentional…
Newdex is listing Vigor! Airdrops will go out to all the newdex VIP’s so don’t miss the action! VIG tokens can only be earned by participating in the http://VIGOR.IO project.
And for those who believe VIGOR is something you can truly identify with, why not help the project along by retweeting this link https://twitter.com/eoswatchdogs/status/1186359740122554369. We get nothing out of this beyond seeing projects we like and believe in succeed, but “ANYONE who retweets this and joins http://t.me/vigorstablecoin will get 100 VIG tokens from [DataJunky]. Just post a link to your retweet and tag @datajunky in the VIGOR Stablecoin Telegram Group!”
For more information via VIGOR’s mailing list, and to read and get informed on the VIGOR DAC Constitution, head on over to the VIGOR Member Client site (https://vig.ai/)
And once again, thanks mBlu for all you do in keeping us and the rest of the broader EOS community up to date and informed on the ever evolving space in which we choose to reside. If you are not already a supporter and wish to give mBlu some credit through an upvote, comment, or like, you can do so on mBluCrypto Twitter and mBluCrypto YouTube.
And as for our regular and new viewers here alike, thanks always for your valued support, and do keep yourselves the best that you can possibly be until next time on The Daily Trybunal