EOSCommunity.org Forums

[VIGOR ] - VIGOR Protocol Update

Vigor Development
#1

  • New loan conditions:

  • first loan requirements haven’t changed. To increase the loan amount after initial loan, must deposit over 50,000 VIG into VIG Fees & Rewards Balance balance to cover premiums to discourage bailouts due to low VIG balance.

  • The C.R(Collateral Ratio) - mincollat: 115

    • required to take out a loan has been increased from 111% to 115%.

  • VIGOR Protocol Membership Open

  • 30$ dollar amount of VIG tokens required to stake to open an account
3 Likes
#2

The tittle should be “[VIGOR ] VIGOR Protocol Update”. :grinning:

1 Like
#3

A 50k VIG balance would discourage usage of the platform when there are barely a thousand monthly users currently. The system needs to be adequately capitalized but that is why there are collateralization requirements to initiate a loan.

#4

thanks for your opinion^^
We’ll discuss that with the following governance meeting(every weekly friday at UTC - 14:00(2pm)
and you can also request candidate for VIGOR DAC and then propose your opinion:)

#5

Fyi on the topic of VIG accdual I have noticed for several weeks that the VIG accrual rate did not seem to be consistent with what was being quoted by the app. I recently took out some VIGOR loans but the net VIG accrual i per the app is positive. However, I am noticing my VIG balance decreasing. How does that happen? Please fix this because that would be really bad publicity for EOS DEFI if the EOS haters were to discover this issue.

#6

did you Lender pool your asset? it means insurance^
And read “VIGOR Protocol Read risk-disclosure”
https://forums.eoscommunity.org/t/vigor-protocol-risk-disclosure/1382
[ 1.Lending is not without risk. Lenders receive rewards for a reason. Lenders provide the bailout protection for loans that get liquidated. During a bailout event, lenders automatically receive liquidated debt and any associated collateral tokens. Bailout proceeds are possibly a net loss, shared by all lenders according to percent contribution to solvency. Lenders hope to gain more in lending rewards than they lose to net bailout proceeds.]

and while using vigor loans and then premium fees are automatic payment for in vigfees VIG Tokens

#7

I don’t believe you understand my point. I believe there is a flaw in the VIGOR protocol which seems to have started several weeks ago perhaps as a result of some sort of update. The VIG fees earned as advertised by the app are not being properly added to the balance. My suggestion would be to open a test account, deposit 100 EOS into the lending pool, deposit 100 EOS into the VIGOR loans pool and then borrow 50 VIGOR. While rates fluctuate frequently, make note on a daily basis for five days the approximate amount of VIG fees the account should be accumulating. IMO the app is not correctly adding the advertised rate to the account. As a VIGOR user and EOS investor I am trying to point out a flaw which it publicly revealed outside the EOS community could damage VIGOR’s reputation. Please research. Currently the app says I should be accumulating 60 VIG daily but each time I log in the VIG balance is decreasing.

#8

Hey your asset into vigor lend pool!
again read risk part
your lend deposit asset :: bailout later receive debt and debt’s 105% collateral

and vigor loans borrow rates are reflect the supply and demand of crypto loans. With every new borrow or lend, stress tests are done on-chain in real time, and loan rates update to keep solvency in line with capital requirements.

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#9

Businesses / Dapps which ignore customer / user feedback do so at their own peril. If the only response I get to pointing out that VIGOR is not working properly is “VIGOR is risky” then perhaps the only solution is to pull deposits off the platform and discontinue using it until those in charge recognize and fix the issue.

#10

Wait,imo you seem to be misleading something,all defi and financial projects for the risk part, and all relevant areas must be notified!
and also,Never wrap up about finance,anyone can’t advise for investment

The judgment of all investments must be how the user’s decides part^

#11

Hey, sorry for the late reply,

I think Garptrader meant to say that, for example if in VIG app it says we get +10 VIG/day, we actually don’t get +10 VIG/day. For me it says +58.8037 VIG/day (at the moment of writing), but in the past 12 hours I only got around 20 VIG, rate was 6% all this time so somethings off. I hold every available coin in lending pool and I don’t borrow anything, just lend. So I figured, VIG token is ~20% of my total lend value, and VIG only farms VIGOR so I’m actually getting ~40 VIG and ~0.02 VIGOR a day. And I don’t know if EOS gains are calculated here as well.

So I’m not sure whether app displays +58.8037 VIG/day correctly, but the rewards are EOS + VIG + VIGOR rewards, combined into VIG. Then it would actually make sense, and I’m not “missing” any VIG reward (at least I hope so, but I’m too lazy to do the math ._. it’s close enough so it’s just a guess)

I have been using VIG app for almost 1 year now and I really like the app. And one thing I wish to see the most is app is

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Something like this. Above the Fees paid it can be like -10 VIG/day if someone borrowed money, as well.

I have been confused by this myself. I’m aware of the risks of using these apps and I don’t mind, but some other people wont tolerate it. I haven’t done any testing tho, for example deposit only EOS to the pool, or only VIG to the pool, and remove every other coin - see what happens, might as well do that so I can have more info on this.

1 Like