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Vigor developer updates

vigor next release (v1.5 ginseng), is in development
to help or watch, go here:

we are using an innovation sandbox on mainnet to test the new features (gatekeeper 3, custodians only)

the new features were deployed April 20 to mainnet onto a testing contract called vigorginseng. this replaces jungle3 as our testnet.

there is no UI yet, LuMpX is working on it. I expect dev will take a while testing and re-working before production release into vigorlending official app

there are two testing contracts:

debt ceiling is 500 VIGOR (donated into the contract for test borrowing)
use small money and expect to lose all deposits

developer status for next release vigorlending 1.5

release date soon, but not too soon, eh ?

the following are in various stages of development and testing. much of the smart contract logic is already done and in local testing, unit testing. some logic has been pushed to vigorginseng for UI development, which has begun.

1 list six tokens

  • BOX
  • BOXGL (BOX/EOS LP token on defibox)
  • BOXK (VIG/EOS LP token on defibox)
  • BOXFU (PBTC/EOS LP token on defibox)
  • BOXL (USDT/EOS LP token on defibox)
  • SXE (VIGOR/USDT LP token on curvesx)

2 configs to manage revenue/fees

  • ratesub - vigordacfund paying this percentage of the borrow rates, a subsidy, default 25%
  • liqcut - vigordacfund earning percentage of the liquidation penalty, default 50%
  • txnfee - vigordacfund earning percentage of every transaction, default 0.1% or max $10
  • lpsxcut - SXE depositors earning this share of txnfee
  • globalstats to report total amounts of revenue and cost

3 VIG mining (to add utility to VIG token)

  • borrower fees are collected in any kind of token (EOS, pBTC, BOX etc) and used for continuous VIG buybacks, executed transparently as permissionless mining jobs using defibox swaps
  • VIG received is used to collateralize new VIGOR debt for paying VIGOR to lenders, all rewards are paid out as VIGOR
  • all rewards claimed from defibox (BOX, EOS, USN, etc) are handled by the VIG mining method too
  • eliminate viglifeline
  • eliminate vigfees

4 VIGOR mining (to address liquidity of VIGOR)

  • USDT deposits integrate with curve.sx (github stableex sx curve), a levered AMM with the VIGOR/USDT pair, the LP token is SXE. liquidty providers deposit USDT. It is swapped partly for VIGOR and deposited into curve.sx pair VIGOR/USDT. the SXE LP token returned is sent into vigorlending. VIGOR miners earn part of txn fee from vigorlending plus all txn fee from curve.sx
  • VIGOR loan issuance can be swapped into USDT using curve.sx, borrower receiving USDT
  • payback VIGOR loans by paying USDT which is swapped for VIGOR on curve.sx
  • eliminate Savings