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Introduction
What do I need to know?
Vires.finance is is a decentralized non-custodial liquidity protocol based on Waves Blockchain, where users, wallets and dapps can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised manner.
Vires.finance utilizes common pool-based mechanics where all funds deposited participate in interest-bearing activities equally. Being based on Waves Bockchain, it utilizes extremely low fees(~only few cents per transaction) making it highly attractive for both high and low volume deposits and loans.
In order to use the service, you simply supply your preferred assets . After supplying, you will earn passive income based on the market borrowing demand. Depositing assets allows you to borrow other assets by using your deposited assets as a collateral.
Additionally, some tokens(for example, WAVES and USDN) are safely staked within the ecosystem to earn additional income for the depositors.
Your funds are stored in a system of smart contracts. The code of the smart contract is public, open source. You can withdraw your funds from the pool or export a tokenised (vTokens) version of your lender position. Learn more about vTokens in the corresponding section.
The risks related to the vires.finance protocol are mostly smart contract risks(risk of a bug within the protocol code) and liquidation risk (risk on the collateral liquidation process). You can find more details in the Terms of Use section.
- Stakers of the VIRES token participate in direct governance by proposing and voting for system parameters.
- Stakers of the token take a cut from the interest that borrowers pay.
Last modified 1yr ago