On March 5th, 2020, Vigor officially received correspondence from their patent attorney regarding the patent application based on the White Paper: International Search Report and The Written Opinion of the International Search Authority.
“We are pleased to report that the International Searching Authority states that All Claims are novel, contain an inventive step and have industrial applicability.”
Not only does this mean that Vigor is onto something great with their efforts in the DeFi space, but also that what the Vigor DAC members, you know, the ones that have been working tirelessly in such a variety of ways are one step closer to their goal of building out something that could revolutionize the ways in which traditional finance is done.
What sets VIGOR apart from other crypto-backed lending platforms?
“VIGOR uses financial engineering principals to separate and transfer default risk embedded in token prices. We disentangle the roles of each participant borrower/insurer/governor. We use standard regulatory risk models and put stress-testing and risk/compliance on-chain for full transparency. We balance usability with the need for robust price discovery. We consider full portfolio analytics providing the user the full beneficial differences between reg-T margin and portfolio margin. We run as a DAC from the very beginning; many projects fail their mandate to decentralize over time. We don’t default to using overly conservative leverage constraints or set arbitrary loan rates. Our users govern. We will never raise capital, preferring self-funding or angel donation only.” (Andrew Bryan, Stuffed Shirt)
Don’t DAI, Live with Vigor!!
How does this contrast against a very different beast: fiat-backed stablecoins (solely a digital fiat placeholder)?
2a
Crypto-backed lending platforms (like VIGOR) are entirely different than fiat backed stablecoins. While we also happen to have a stablecoin, our platform is primarily concerned with letting users lever up or down their exposure to token prices, with a pool of users socializing the gain/loss on the other side. For this reason we describe VIGOR as a crypto prime broker, providing two key services. Using words from traditional finance to succinctly describe those services is entirely incorrect, but the closest words would be (1) equity repo, and (2) securities lending. (translation: borrowing stablecoin against crypto-collateral, and borrowing crypto against stablecoins collateral for shorting). Note equity repo is distinct from the more common bond repo because price risk becomes paramount relative to counterparty risk. Crypto-backed stablecoins are borne and proliferate into the crypto-economy when loans are drawn; there is an insatiable demand for credit.
2b
Fiat-backed stablecoins (like Tether) are the crypto-analog to the idea of the Gold Standard (see appendix A) where the singular purpose is to have a more convenient form of money to use as currency (solely a digital fiat placeholder).
———————————————-
Appendix A
Gold Standard – Currency Backed by Gold
- a) that a national monetary unit was now defined in terms of a given quantity of gold
- b) redeemability: that the central bank or Treasury would stand by ready to buy and sell gold at the resulting fixed price in the terms of the national currency
- c) that gold was freely coined and gold coins formed a significant part of the circulating medium (and thus implying fixed exchange rates).
It was not a flawless system, of course, and it did not ensure price stability. Variations were due mostly to fluctuations in gold production and gold-rush boom-cycles that took place after the Civil war.
Tether – Stablecoin Backed by Fiat
- a) that a stablecoin was now defined in terms of a given quantity of fiat
- b) redeemability: that Tether Inc would stand by ready to buy and sell fiat at the resulting fixed price in the terms of the stablecoin
- c) that fiat formed a significant part of the circulating medium (and thus implying fixed exchange rates).
It was not a flawless system, of course, and it did not ensure price stability. Variations were due mostly to fluctuations in fiat supply as monetary supply is controlled by the Fed.
Andrew Bryan (aka Stuffed Shirt)
Vigor.ai
Of course with any new project, the best place to start is learning about what they are all about. Vigor has recently updated the homepage at Vigor.ai, and although still a work in process, things are progressing exponentially.
Whether you’re looking for answers to questions on Vigor DAC structure, Vigor token utility, the benefits of Vigor over similar projects in the space, answers to FAQ’s, or even on details on how to join and reap the rewards, Vigor.ai simplifies the process of elegant understanding quickly getting you up to speed.
Vigor is a Digital Currency Powered by VIG
Lock EOS in the Vault to Borrow Vigor. Pay your Premiums or receive your Rewards with VIG.
VIG is the Premium & Reward Token powering the autonomic protocol
- VIGOR borrowers are required to take on loan insurance for which the fee is expressed in VIG tokens
- VIG in the reserve is available to back the protocol in stress losses
- Users VIP levels based on borrower paying VIG or issuer gaining VIG over time
Vigor is a Currency, a low volatility crypto currency, like digital cash running on EOSIO from Block.one.
- Borrow VIGOR backed by your EOS.
- Borrow EOS backed by your VIGOR.
- Be rewarded by stacking your EOS into the insurance pool which backs the ‘loans’
- Reduce exposure to price volatility by taking secured VIGOR loans followed by holding VIGOR
The Functionality of What is to Come
The VIGOR App 100% decentralized peer to peer lending brings borrowing and lending crypto to the EOS mainnet.
While waiting for the VIGOR App to go live why not hone your skills with fake tokens while utilizing the VIGOR paper trading test net app. All you need is a Jungle Testnet EOS account to get you on your way. Not only is it a great way to play with what is soon to come to the EOS mainnet, but it’s also a great way for Vigor to collect insight on what has been built.
Not sure where to begin? No problem at all. Simply check out the starter guide at https://docs.vigor.ai/docs/usr-get-start.html
The Vigor project is managed by the Vigor DAC, a Decentralized Autonomic Community
The VIGOR Protocol is governed by a DAC, (Decentralized Autonomous Community) whose goal is to build and deploy the VIGOR protocol based on the specifications of the VIGOR Whitepaper.
At its core the Vigor DAC relies on contributions from custodians, candidates, and community members. Vigor DAC members work towards expansion in the areas of governance, development, marketing, and community awareness contributing where and what they can.
Members of the DAC are also free to vote for their choice of the top 21 custodians. These custodians are elected daily by tally of votes and are responsible for multisig control of the entire system.
Feel as though you have something to contribute? Vigor DAC Membership is Rewarding in a multitude of ways. Come help maintain the Vigor in us all!
How To Become A VIGOR Candidate and Custodian
1. Visit one of the DAC portals and Log-In with your EOS Account:
● Vig.ai
2. Read and Sign the Constitution.
3. Join the VIGOR Telegram channel and request a free stake token.
● A Custodian will create a proposal to issue you a stake token.
● Note: 11 out of 21 Custodians must approve the proposal for it to pass.
4. Fill out your Candidate Profile. It is suggested you include an avatar, description of your background, and what you plan to contribute to VIGOR DAC.
5. Claim your VIG tokens daily. The more votes you receive, the more VIG you can claim.
Candidate Status Approved. Now What?
Familiarizing oneself with whatever one is involved in is never a bad idea, but in the case of Vigor, it’s an absolute necessity. Don’t worry though cause Vigor has got you covered. Welcome to Vigor Learn.
Vigor Learn allows candidates to log into Vigor Earn with their candidate approved EOS account, brush up on what Vigor is all about, and then test your knowledge by answering a series of questions on the related materials. Answer 8 of 8 questions correctly and be rewarded with 1,000 VIGOR for your new found knowledge. Don’t fret should you make a mistake though, as the whole point of this is getting the community up to speed, so feel free to have a few more go’s until you can get answer all the questions for correctly.
New candidates are also encouraged to join one or more of the four working groups upon candidate acceptance (governance, development, marketing, community) and begin contributing in coordination with others in the group and the active working group leader. There are lots of things still to be accomplished and really great teams working on as many aspects as can push the project forward. Overall the Vigor DAC community is a wonderful place to be with a variety that needs to be done amongst a dedicated and intelligent community working towards truly making Vigor the best it can be!
