VIGOR Jungle Testnet Tutorial

VIGOR Jungle Testnet Tutorial


With the VIGOR platform nearing it's official launch within the month now is the perfect time to get a general idea about not only what it has to offer, but also how to go about using it via the VIGOR Demo on the EOS Jungle Testnet.  In this tutorial then we will guide you through a few things that will come in handy to get you on your way to honing your skills prior to the official launch.

WHAT YOU NEED FOR THE TEST

  • An account on Jungle Testnet to login into the demo interface or contract on bloks.io
  • A few Jungle EOS
  • (optional) you can setup Scatter for a faster and easier login

HOW TO CREATE AN ACCOUNT ON TESTNET

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  • Click on Create Key
    • copy/save you pair
  • Click on Create Account
    • Choose an Account name with 12 characters (a-z,1-5)
    • Paste your keys
    • Verify reCaptcha
    • Create

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HOW TO GET JUNGLE EOS

  • Go to http://monitor.jungletestnet.io
    • Click on Faucet
    • Write your Account name
    • Verify reCaptcha
    • Click Send Coins (100 EOS will be credited to your account)
    • (don’t be scared by the red text. Everything is OK.)
    • Come back after 6 hours to claim more free Jungle EOS
  • You will also find another Faucet button when you will log into the demo interface.

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HOW TO SET UP SCATTER (optional)

(Scatter v.11.x)

  • Download Scatter from https://get-scatter.com/download
  • Open Scatter
  • Go to Administrative > Networks > Add custom network
    • Find Network Api list : http://monitor.jungletestnet.io/#apiendpoints
    • In Network tab >
      • Name: put a name of your choice, like "Jungle2 Testnet
      • Host: jungle2.cryptolions.io
      • Protocol: https
      • Port: 443
      • Chain ID: e70aaab8997e1dfce58fbfac80cbbb8fecec7b99cf982a9444273cbc64c41473

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    • System Token tab >
      • Switch ON the button
      • Contract: eosio.token
      • Symbol: EOS
      • Decimals: 4

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  • Save new network
  • Go to Wallet > Import Key
  • Select Text and paste your private key
  • Back to Wallet
  • Find your new network name and click on the drop-down menu near the key icon.
  • While the drop-down menu is open, press CTRL to reveal the hidden function.
  • Select Link Account
  • Type your account name and check that Jungle Testnet is correctly selected
  • Press Link Account
  • Scatter configuration is done.

HOW TO INTERACT WITH THE CONTRACT

  • There are two ways to interact with the contract:
    • through the Vigor Demo Interface (the easiest way)
    • through bloks.io

INTERACT USING VIGOR DEMO INTERFACE

  • To interact with the contract through the demo interface go to: https://app.vigor.ai/
  • Click on Login
  • Login with Scatter paying attention to select your Jungle Testnet Account
    • If this is your first interaction with the contract, first register your account
    • Click on Open Account
    • Confirm Scatter pop-up

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HOW TO ADD COLLATERAL VIA VIGOR DEMO INTERFACE

  • Login to the Vigor App at https://app.vigor.ai/
  • Find the Collateral box
  • The box shows the amount of collateral tokens already present (if any) and their value
  • Select the token from drop down menu
  • Fill the field with the desired amount
  • Click on DEPOSIT
  • Confirm Scatter pop-up

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HOW TO ADD VIGOR STABLECOIN AS COLLATERAL VIA VIGOR DEMO INTERFACE

  • Login to the Vigor App at https://app.vigor.ai/
    • If you have not opened an acount yet, follow the instructions at Interact with the contract page before continuing to the steps below.
  • Find the Collateral box
  • The box shows the amount of collateral tokens already present (if any) and their value
  • Select the VIGOR token from drop down menu
  • Fill the field with the desired amount
  • Click on DEPOSIT
  • Confirm Scatter pop-up

HOW TO BORROW EOS VIA VIGOR DEMO INTERFACE

  • Login to the Vigor App at https://app.vigor.ai/
  • Find the Debt box
  • The box shows the amount of EOS tokens already borrowed (if any)
  • Fill the field with the desired amount
  • Click on BORROW
  • Confirm Scatter pop-up

HOW TO BORROW VIGOR STABLECOIN VIA VIGOR DEMO INTERFACE

  • Login to the Vigor App at https://app.vigor.ai/ *Accounts must have collateral deposited (https://docs.vigor.ai/docs/usr-dep-coll) before borrowing VIGOR stablecoin
  • Find the Debt box
    • The box shows the amount of VIGOR tokens already borrowed (if any)
  • Fill the field with the desired amount
  • Click on BORROW
  • Confirm Scatter pop-up

HOW TO ADD INSURANCE VIA VIGOR DEMO INTERFACE

Cryptos and VIGOR stablecoin are deposited into the insurance pool to earn VIG and to insure the system against both upside and downside market stress events. Insurers agree to accept their share of bailouts (automatically get assigned ownership of failed collateral and associated debt) according to their contribution to solvency (PCTS).

  • Login to the Vigor App at https://app.vigor.ai/
  • Find the Insurance box
  • The box shows the amount of insurance tokens already present (if any) and their value
  • Select the token from drop down menu
  • Fill the field with the desired amount
  • Click on DEPOSIT
  • Confirm Scatter pop-up

HOW TO WITHDRAW INSURANCE VIA VIGOR DEMO INTERFACE

Before make a withdrawal, please ensure you have paid past due amount by sending VIG into collateral.

  • Login to the Vigor App at https://app.vigor.ai/
  • Find the Insurance box
  • The box shows the amount of insurance tokens already present (if any) and their value
  • Select the token from drop down menu
  • Fill the field with the desired amount
  • Click on WITHDRAW
  • Confirm Scatter pop-up

INTERACT USING VIGOR CONTRACT ON BLOKS.IO

  • To interact with the contract go to https://jungle.bloks.io/
  • Login with Scatter paying attention to select Jungle Testnet
  • Head to your wallet at: https://jungle.bloks.io/wallet/transfer
    • The Transfer Token tab is what you will need
  • In another tab open the contract page: https://jungle.bloks.io/account/vigordemo124
    • If this is your first interaction with the contract, first register your account
    • Click on </> Contract tab
    • In the Actions tab select openaccount
    • In Owner type your account name
    • Click Submit transaction
    • Your account has been created on the new contract

Please Note: Most interactions on Bloks.io will take place through the Actions tab

    • Use the Tables tab to explore general contract statistics
    • Tables > user contains a list of all users with their stats, including you

This is all you need to interact with the contract using Bloks.io

 

HOW TO ADD COLLATERAL VIA BLOKS.IO

  • Go to: bloks.io > wallet > Transfer token
  • Send To: vigordemo123
  • Amount: CHOOSE YOUR AMOUNT OF EOS, IQ, BOID OR VIGOR
  • Memo: collateral

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Please note:  You can only deposit accepted collateral tokens which for now are: EOS, IQ, BOID and VIGOR.

    • If you deposit EOS, IQ or BOID, they will appear in the collateral column of the contract.
    • If you deposit VIGOR, they will appear in the l_debt column of the contract.

The columns representing the variables in the contract table can be found here:

bloks.io > vigordemo123 > Contract > Tables > User

 

HOW TO ADD VIGOR STABLECOIN AS COLLATERAL VIA BLOKS.IO

  • Go to: bloks.io > wallet > Transfer token
  • Send To: vigordemo123
  • Amount: CHOOSE YOUR AMOUNT OF VIGOR
  • Memo: collateral

 

HOW TO BORROW EOS VIA BLOKS.IO

  • Go to: bloks.io > vigordemo123 > Contract > Actions > assetout
  • usern: YOURUSERNAME
  • assetout: THE AMOUNT OF EOS YOU WANT TO BORROW
  • Memo: borrow
  • Click on Submit Transaction
  • Confirm Scatter pop-up

Please note:  Collateral must always exceed your total borrowings by 1.11.  Learn more about borrowing and lending EOS on Vigor at https://vigor.ai/

 

HOW TO BORROW VIGOR STABLECOIN VIA BLOKS.IO

  • Go to: bloks.io > vigordemo123 > Contract > Actions > assetout
  • usern: YOURUSERNAME
  • assetout: THE AMOUNT OF VIGOR YOU WANT TO BORROW
  • Memo: borrow
  • Click on Submit Transaction
  • Confirm Scatter pop-up

 

HOW TO ADD INSURANCE VIA BLOKS.IO

Cryptos and VIGOR stablecoin are deposited into the insurance pool to earn VIG and to insure the system against both upside and downside market stress events. Insurers agree to accept their share of bailouts (automatically get assigned ownership of failed collateral and associated debt) according to their contribution to solvency (PCTS).

  • Go to: bloks.io > wallet > Transfer token
  • Send To: vigordemo123
  • Amount: CHOOSE YOUR AMOUNT OF EOS, IQ, BOID OR VIGOR
  • Memo: insurance

 

HOW TO WITHDRAW INSURANCE VIA BLOKS.IO

Before make a withdrawal, please ensure you have paid past due amount by sending VIG into collateral.

  • Go to: bloks.io > vigordemo123 > Contract > Actions > assetout
  • usern: YOURUSERNAME
  • assetout: THE AMOUNT OF TOKEN YOU WANT TO WITHDRAW
  • Memo: insurance
  • Click on Submit Transaction
  • Confirm Scatter pop-up

Please note:

    • Your insurance assets are shown in the "Insurance" column of the contract
    • After deposit you will start earning some VIGs over time. They will appear in the same "Insurance" column of the contract

The columns representing the variables in the contract table can be found here:

bloks.io > vigordemo123 > Contract > Tables > User

Learn more about Vigor DeFi on EOS

User Table

 

  • Loans Taken Out Debt = Amount of Vigor loaned out to user
  • Deposited Collateral Collateral = Amount of collateral user has posted for loans (Amount of each token shown)
  • Insurance Earnings (APR) earnrate = 0.0; // annualized rate of return on user portfolio of insurance crypto assets, insuring for downside price jumps
  • Insurance = Amount of insurance user has posted (Amount of each token shown)
  • Deposited Collateral Value (USD) valueofcol = dollar value of user portfolio of collateral crypto assets
  • Deposited Insurance Value (USD) valueofins = dollar value of user portfolio of insurance crypto assets
  • Loan Interest Rate (APR) tesprice = annualized rate borrowers pay in periodic premiums to insure their collateral (Max 0.25, min 0.005 – This needs to be turned into a percentage x100)
  • pcts = percent contribution to solvency (weighted marginal contribution to risk (solvency) rescaled by sum of that
  • volcol = volatility of the user collateral portfolio
  • stresscol = model suggested percentage loss that the user collateral portfolio would experience in a stress event.
  • Istresscol = market determined implied percentage loss that the user collateral portfolio would experience in a stress event.
  • Svalueofcol = model suggested dollar value of the user collateral portfolio in a stress event.
  • Svalueofcole = model suggested dollar amount of insufficient collateral of a user loan in a stressed market. Min((1 – svalueofcol ) * valueofcol – debt,0)
  • Svalueofcoleavg = model suggested dollar amount of insufficient collateral of a user loan on average in down markets, expected loss
  • premiums = dollar amount of premiums borrowers would pay in one year to insure their collateral
  • feespaid = a payment of VIG that the borrower pays into the contract for taking out a loan
  • Borrower Credit Score creditscore = 500; //out of 800
  • Lastupdate = ? Last block updated??
  • Num of Late Insurance Payments Latepays = Amount of time loan premiums were paid late.

Global Table

  • solvency = 1.0; // solvency, represents capital adequacy to back the stablecoin
  • Total Value of Collateral (USD) valueofcol = 0.0; // dollar value of total portfolio of borrowers crypto collateral assets
  • Total Value of Insurance (USD) valueofins = 0.0; // dollar value of total portfolio of insurance crypto assets
  • scale = 1.0; // TES pricing model parameters are scaled to drive risk (solvency) to a target set by custodians.
  • svalueofcole = 0.0; // model suggested dollar value of the sum of all insufficient collateral in a stressed market SUM_i [ min((1 - svalueofcoli ) * valueofcoli - debti,0) ]
  • svalueofins = 0.0; // model suggested dollar value of the total insurance asset portfolio in a stress event. [ (1 - stressins ) * INS ]
  • stressins = 0.0; // model suggested percentage loss that the total insurance asset portfolio would experience in a stress event.
  • inreserve = whenever VIG is repaid into the system, a portion of this is sent into the reverse. The reserve is there in the event of any blck swans occurring
  • totaldebt = this is the amount of VIGOR that a user has borrowed. The user will make repayments for this debt using VIG

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VIGOR borrow rate %: Annualized rate that VIGOR borrowers pay in periodic premiums to insure their Crypto Collateral against downside market moves, as a percentage of VIGOR Debt. `. Borrow rates are floating and change continuously over time based on system riskiness as measured by Solvency (down markets).

Crypto borrow rate %: Annualized rate that crypto borrowers pay in periodic premiums to insure their Crypto Debt against upside market moves, as a percentage of VIGOR Collateral. The payments are denominated in VIG and deducted automatically throughout the day from the user Crypto Collateral. Borrow rates are floating and change continuously over time based on system riskiness as measured by Solvency (up markets).

Earn Rate: Annualized rate of return earned by insurers for depositing cryptos and/or VIGOR stablecoins into Insurance. Earnings are paid to insurers automatically throughout the day into their Collateral as periodic premiums denominated in VIG. Earn rates are floating and change continuously over time based on system riskiness as measured by Solvency (up markets) and Solvency (down markets).

Savings Rate: Annualized savings rate earned by savers for depositing VIGOR stablecoins into VIGOR Collateral. The earnings are paid to savers automatically throughout the day denominated in VIG into their Crypto Collateral. Savings rates are floating and change continuously over time proportional to borrow rates. Savings rates increase when VIGOR market price drops below $1. Savings rates decrease when VIGOR market price rises above $1. Savings rates decrease as more savers deposit VIGOR into savings.

Credit Score: Credit Score (out of 800). Users that maintain a VIG balance above zero (in Crypto Collateral) at all times during a borrow can earn higher credit scores and get discounted rates. If borrower VIG balance (in Crypto Collateral) drops to zero the user loan will be bailed out automatically by insurers and credit score reset to default.

Solvency (down markets): Represents the level of capital adequacy of the system to back the stablecoin borrows. It is a measure that indicates if capital existing in the system is above or below the capital requirement suggested by stress testing for downside market stress events. Borrow rates increase when solvency is below target. Borrow rates decrease when solvency is above target.

Solvency (up markets): Represents the level of capital adequacy of the system to back the crypto borrows. It is a measure that indicates if capital existing in the system is above or below the capital requirement suggested by stress testing for upside market stress events. Borrow rates increase when solvency is below target. Borrow rates decrease when solvency is above target.

Collateral: Depositing cryptos as collateral allows for borrowing VIGOR stablecoin. Depositing VIGOR stablecoin allows for borrowing cryptos. Depositing VIGOR stablecoin will earn the savings rate. During any borrow, the user collateral is at risk of bailout if the feed value of the collateral drops below the value of debt. Users must maintain a VIG balance above zero in Collateral because VIG fees are automatically deducted on a continuous basis, otherwise the user suffers immediate bailout. A bailout is an event where user retains excess collateral but the debt and matching amount of collateral is deducted from the borrower and taken by the insurers. There is no liquidation fee or additional charges for bailout.

Insurance: Cryptos and VIGOR stablecoin are deposited into the insurance pool to earn VIG and to insure the system against both upside and downside market stress events. Insurers agree to accept their share of bailouts (automatically get assigned ownership of failed collateral and associated debt) according to their contribution to solvency (PCTS).

Debt: Cryptos and VIGOR stablecoin borrowed. Users can borrow up to a maximum 1.1 collateral ratio (value of collateral/value of debt)

PCTS (down markets): Percent contribution to solvency for downside market stress events. It measures the extent to which a given insurer improves the system Solvency (down markets). This determines how much the insurer is compensated relative to other insurers. It also determines the share of bailouts that will be assigned to the insurer during downside market stress events.

PCTS (up markets): Percent contribution to solvency for upside market stress events. It measures the extent to which a given insurer improves the system Solvency (up markets). This determines how much the insurer is compensated relative to other insurers. It also determines the share of bailouts that will be assigned to the insurer during upside market stress events.

Crypto Collateral: Cryptos (not VIGOR) deposited as collateral for borrowing VIGOR stablecoin. Collateral is at risk of bailout if the feed value of the collateral drops below the value of debt, or if user runs out of VIG in their Crypto Collateral and therefore cannot pay the automatically collected VIG fees.

VIGOR Collateral: VIGOR stablecoin deposited to earn the savings rate and to be held as collateral for borrowing cryptos. During a borrow, collateral is at risk of bailout if the feed value of the collateral drops below the value of debt, or if user runs out of VIG in their Crypto Collateral and therefore cannot pay the automatically collected VIG fees.

VIGOR Debt: VIGOR stablecoin borrowed. Users can borrow up to a maximum 1.1 collateral ratio (value of collateral/value of debt)

Crypto Debt: Cryptos borrowed (not VIGOR). Users can borrow up to a maximum 1.1 collateral ratio (value of collateral/value of debt)

VIGOR borrow rate $: Over a one year period, the total dollar amount that VIGOR borrowers could expect to pay in periodic premiums to insure their Crypto Collateral against downside market moves. The payments are denominated in VIG and deducted automatically throughout the day from the user Crypto Collateral. Borrow rates are floating and change continuously over time based on system riskiness as measured by Solvency (down markets).

Crypto borrow rate $: Over a one year period, the total dollar amount that crypto borrowers could expect to pay in periodic premiums to insure their Crypto Debt against upside market moves. The payments are denominated in VIG and deducted automatically throughout the day from the user Crypto Collateral. Borrow rates are floating and change continuously over time based on system riskiness as measured by Solvency (up markets).

Actions

 

  • assetouth - When a user executed assetout, the action assetouth is also executed. However this includes a 5 seconds delay to prevent front running (the oracle data is lagged). assetout does a bunch of checks. If these pass, it then executes an asynchronous call to assetouth, the delay is the deferred transaction part

Release Notes

Currently testing:

  • vigordemo123

Older versions:

  • vigordemo111
  • vigor1111114
  • vigor1111113
  • vigor1111112
  • vigor1111111

The information in this tutorial can also be found at on the VIGOR Documentation site at https://docs.vigor.ai/docs/usr-get-start.html and has been republished here for informational and educational purposes with expressed permission from Vigor.ai

To learn more about VIGOR visit our homepage at https://vigor.ai/, read the VIGOR Stablecoin Summery and VIGOR Whitepaper, or visit the VIGOR Public Telegram channel should you have any questions.

To keep up to date with any updates be sure to follow and subscribe to VIGOR Telegram, Twitter, Reddit, and GitLab social channels.

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Jimmy D [Upliftnation.io]
Jimmy D [Upliftnation.io]

Philosopher, historian, educator, permaculturalist, writer, podcast and video host, and crypto/blockchain enthusiast.


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